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Cadence Bank

CADE

2025 Q2

Financial Services

Financial Performance Summary

Adjusted efficiency ratio improved by 90 basis points to 56.7%.
Adjusted net income from continuing operations increased to $137.5 million or $0.73 per share.
Adjusted noninterest expense increased $11.7 million, mainly due to First Chatham acquisition, business growth, and legal costs.
Adjusted noninterest revenue increased $13 million or 15%, driven by mortgage originations, MSR valuation, wealth management, and other fees.
Adjusted ROA was 1.14% for the quarter.
Allowance for credit loss coverage remained flat at 1.34%.
Core customer deposits increased at a 4.4% annualized rate, with growth mainly in noninterest-bearing deposits.
Loan yields were 6.34%, up 1 basis point from the first quarter; new and renewed loans came in at just over 7%.
Net charge-offs were $21 million or 24 basis points annualized, consistent with expectations.
Net charge-offs were 24 basis points annualized for the quarter, down slightly from the first quarter.
Net interest margin declined 6 basis points to 3.40%, but excluding securities impact, NIM increased 2 basis points.
Net interest revenue increased $15 million or 4%, driven by loan growth and added securities.
Organic loan growth was $1.1 billion for the quarter or 12.6% annualized.
Pretax pre-provision net revenue increased to an all-time high of $206 million, up over 8% from the prior quarter.
Regulatory capital levels remained strong with CET1 of 12.2%.
Tangible book value increased to $22.94 per share.
Total adjusted revenue was $476 million, an increase of $28 million or 6%.
Total cost of deposits improved by 5 basis points to 2.30%; time deposit costs improved by 12 basis points.

Credit Acceptance Corporation

CACC

2025 Q2

Financial Services

Financial Performance Summary

Financed over 85,000 contracts and collected $1.4 billion overall during the quarter.
Forecasted net cash flows declined by 0.5% or $56 million.
Loan performance declined this quarter with 2022, 2023, and 2024 vintages underperforming expectations, while the 2025 vintage exceeded expectations.
Loan portfolio reached a record-high of $9.1 billion on an adjusted basis, up 6% from last Q2.
Market share in the core segment of used vehicles financed by subprime consumers was 5.4% for the first 5 months of the year, down from 6.6% in the same period in 2024.
Paid $63 million in dealer holdback and accelerated dealer holdback to dealers.
Unit and dollar volumes declined, impacted by Q3 2024 scorecard change and increased competition.

Eagle Bancorp, Inc.

EGBN

2025 Q2

Financial Services

Proactive Resolution of Challenged Office Loans and Structural Industry Changes

The company is actively addressing long-term, structural issues in the office sector, including valuation pressures and nonperforming loans.
Significant provisioning was made, with a 31.2% reserve for substandard office loans and an 11.5% coverage ratio.
Progress includes restructuring a large nonaccrual office loan into an AB note, with some loans moved to 'held for sale' and an expected sale closing in Q3.
Management emphasizes that these are deliberate, strategic steps to normalize provisioning and mitigate long-term risks.

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Financial Performance Summary

Proactive Resolution of Challenged Office Loans and Structural Industry Changes