- Average deposits increased 3.1% year-over-year to $41.8 billion; average loans grew 7.2% to $21.1 billion.
- Commercial loans grew 4.9% year-over-year with CRE up 6.8%, energy loans up 22%, and C&I down about 1%.
- Consumer real estate loans grew 22% year-over-year to $3.3 billion, driven by second lien home equity and mortgage products.
- Cullen/Frost earned $155.3 million or $2.39 a share in Q2 2025, up from $143.8 million or $2.21 a share in Q2 2024.
- Expansion efforts contributed $2.76 billion in deposits, $2.03 billion in loans, and nearly 69,000 new households.
- New loan commitments totaled just under $2 billion in Q2, a 56% increase over Q1.
- Nonperforming assets declined to $64 million from $85 million at year-end; net charge-offs were $11.2 million, or 21 basis points annualized.
- Return on average assets and average common equity were 1.22% and 15.6%, compared to 1.18% and 17.08% in the prior year quarter.
- Total problem loans increased to $989 million, mainly due to multifamily loans, with expected resolutions in H2 2025.
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- Blended cash leasing spreads reached 17%, the highest in 5 years, with non-option renewals at nearly 20% for the quarter and 16% over the last 12 months.
- Kite Realty Group delivered strong Q2 2025 results with NAREIT FFO per share of $0.51 and core FFO per share of $0.50.
- Net debt-to-EBITDA stands at 5.1x, among the lowest in the peer set, after significant transactional activity and opportunistic bond issuance.
- Net debt-to-EBITDA stands at 5.1x, among the lowest in the peer set, following asset sales, joint ventures, and opportunistic bond issuance.
- New leasing volume more than doubled sequentially, driven by 11 new anchor leases including grocery tenants Whole Foods and Trader Joe's.
- Same-property NOI grew 3.3%, driven by higher minimum rents (+250 bps), improved net recoveries (+50 bps), and overage rent (+30 bps).
- Small shop lease rates increased 30 basis points sequentially and 80 basis points year-over-year, with embedded escalators at 3.4% for H1 2025.
- Small shop lease rates increased 30 basis points sequentially and 80 basis points year-over-year, with embedded escalators of 3.4% for the first half of 2025.
- The company sold 3 noncore assets and completed 2 joint ventures involving 4 assets totaling over $1 billion in gross transactional activity.
- Cousins Properties delivered $0.70 a share in FFO for Q2, $0.01 above consensus.
- GAAP NOI grew 3.2% and cash NOI grew 1.2% during Q2 compared to last year.
- Net debt to EBITDA remains at an industry-leading 5.1x with strong liquidity and a well-laddered debt maturity schedule.
- Property tax expenses showed lumpiness but are forecasted to be up 2.8% for 2025 on a gross basis and down 4% net of accrual adjustments.
- Same-property net operating income increased 1.2% on a cash basis and 1.6% year-to-date.
- Second-generation cash rents increased 10.9% in the quarter and 5.4% year-to-date.
- The Link acquisition is immediately accretive with an initial cash yield of 6.7% and GAAP yield of 8.3%.
- Loan growth of 6.5% annualized, primarily from C&I loans, mortgage warehouse, and premium finance.
- Loan production in Q2 was $1.9 billion, up from $1.5 billion in Q1, indicating increased market share.
- Bankers are actively gaining share through market presence and deposit-led growth strategies, with a focus on treasury management.
- Operating earnings of $106 million, a record for the company, representing a $0.03 linked quarter increase.
- First $100 million operating net income quarter in company history.
- Share repurchases of 522,000 shares at an average price of $16.9, with ongoing capital return strategy.
- Capital ratios remained strong with Tier 1 capital at 14.2% and total risk-based capital at 15.2%.
- Cost of deposits remained stable at 160 basis points, down 21 basis points year-over-year, with a beta of 29%.
- Cost of deposits remained stable at 160 basis points quarter-over-quarter and declined 21 basis points year-over-year.
- Dividends of $0.70 per common share were declared for the third quarter, with $28 million paid on common stock and $5.3 million on preferreds during the quarter.
- Dividends of $28 million on common stock and $5.3 million on preferred stock were paid; no share repurchases during the quarter.
- Earnings per share increased for the fourth consecutive quarter, reaching $1.06, driven by net interest income and margin expansion.
- Net income for Q2 2025 was $47.6 million with diluted EPS of $1.06, up $3.7 million and $0.09 respectively from the prior quarter.
- Net income for the quarter was $47.6 million, up $3.7 million from the previous quarter.
- Net interest income and net interest margin expanded for the fifth consecutive quarter, with NII increasing by $3.9 million and NIM by 7 basis points.
- Net interest income increased by $3.9 million and net interest margin expanded by 7 basis points, marking the fifth consecutive quarter of growth.
- Noninterest expense was $110.8 million, including a $1.4 million severance charge; excluding special items, expenses decreased by $600,000 from the prior quarter.
- Noninterest income increased slightly to $44.8 million, including a one-time gain of $800,000 from a BOLI recovery.
- Noninterest income was $44.8 million, including a one-time gain of $800,000 from a BOLI recovery.
- Provision for credit losses was $3.3 million; effective tax rate was 21.2%, expected full-year rate between 21% and 22%.
- Provision for credit losses was $3.3 million; effective tax rate was 21.2%, expected to be between 21% and 22% for the full year.
- Controllable expenses decreased 3.7% year-over-year and were flat year-to-date, driven by lower marketing, administrative, and repairs and maintenance costs.
- Net debt-to-EBITDA was 11.3x trailing 12 months, not reflecting recent asset sales and contracts.
- Net income available to common shareholders was $0.12 per fully diluted share in Q2 versus $0.03 prior year and a net loss of $0.12 in Q1.
- Non-controllable expenses were down 3.2% year-over-year and 2.6% year-to-date due to lower insurance and real estate tax expenses.
- Same Store NOI grew 5.6% in the quarter and 4.4% year-to-date.
- Same Store rental revenue was up 2.5% for the quarter, or 3.8% excluding Liberty Towers and other income recognized last year.
- Second quarter Core FFO was $0.17 per share, up $0.01 from the first quarter, including $0.01 of nonrecurring other income and property management expense savings.
- Weighted average effective interest rate was 4.86%, a reduction of over 20 basis points prior to the credit facility amendment.
- Year-to-date Core FFO was $0.33 per share versus $0.32 last year.
- B2B segment revenue grew nearly 40%, driven by a significant BaaS partner and growth in the BaaS portfolio.
- Consumer Services segment revenue declined but active account declines moderated, with retail channel showing flat active accounts and slight increases in key metrics.
- Corporate segment revenues increased due to higher interest income from balance sheet optimization and bond repositioning.
- Green Dot reported a strong Q2 2025 with adjusted revenue up 24% year-over-year and adjusted EBITDA up 34%, both exceeding expectations.
- Money Movement segment saw tax business outperform expectations with profits up over 10%, while money processing revenue declined modestly due to lower transaction volumes but improved revenue per transaction.
- Non-GAAP EPS reached $0.40 per share, a 60% increase year-over-year.
- Overall segment margins were flat year-over-year, with margin improvements in direct channel offsetting retail declines.
- Rapid Employer Services revenue declined due to challenges in the staffing industry, but margin expanded by 45 basis points due to improved profitability.
- Executed $377 million CRE loan sale in April and $481 million securitization in June, reducing CRE concentration from over 600% to 365% of regulatory capital.
- Plan to complete an additional securitization before year-end, aiming to fully exit the CRE held-for-sale portfolio by 2025.
- Balance sheet actions limited positive impact on net interest income but expected to improve net interest margin (NIM) to 1.8%-1.9% by end of 2025.
- Focus on reducing CRE concentration to mitigate volatility and enhance earnings stability.
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