- Book value per diluted share, excluding AOCI, increased 6% to $38.05.
- Capital and liquidity remain strong with a consolidated RBC ratio of 378% and Holdco liquidity of $187 million.
- CNO delivered strong Q2 2025 results with operating earnings per diluted share of $0.87, benefiting from favorable insurance product margins and solid investment results.
- Net investment income grew 2% year-over-year, with average yield on allocated investments at 4.92%, up 11 basis points.
- Operating return on equity was 11.8% on a trailing 12-month basis and 11.2% excluding significant items, on track to meet 2025 and 3-year targets.
- Record total new annualized premiums reached $120 million, up 17%, with double-digit insurance sales growth in both Consumer and Worksite divisions.
- Share repurchases totaled $100 million in the quarter, reducing weighted average diluted shares outstanding by 8%.
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- Adjusted EBITDA for Q2 was $1.5 million, slightly higher than $1.4 million in Q2 2024, despite near-term profitability pressures.
- Net loss for Q2 was $11 million or $0.28 per share, compared to a net loss of $5.5 million or $0.14 per share in the prior year, impacted by a $7.3 million tax expense due to a change in tax methodology.
- Operating expenses increased to $181 million in Q2 from $166 million last year, driven by higher cost of services and one-time reorganization expenses.
- The company remains well-capitalized with no debt and $333 million in cash and equivalents, returning $190 million to shareholders over the past three years.
- Total revenue for Q2 2025 was $172 million, up 8.8% year-over-year, driven by 4% growth in brokerage revenue and a 44% increase in financing revenue.
- Year-to-date revenue was $317 million, up 10.4% from $287 million last year, with brokerage commissions accounting for 84% of revenue.
- Average MBS increased to $6.9 billion from just under $6 billion in Q1.
- Book value decreased from $7.94 per share at 3/31 to $7.21 at 6/30.
- Dividends of $0.36 were paid in both quarters.
- Excluding realized and unrealized losses, net income was $0.16 per share, same as Q1.
- Leverage ratio decreased to 7.3 from 7.8 at 3/31.
- Liquidity improved to 54% from 52%.
- Prepayment speeds increased to 10.1% from 7.8% in Q1.
- Reported a loss of $0.29 per share in Q2 compared to income of $0.18 per share in Q1.
- Total return for the quarter was negative 4.66% compared to 2.6% in Q1.
- Approximately 59.9% of deposit relationships are over $5 million with an average tenure of 8.3 years.
- Efficiency ratio for the quarter was 41.03%.
- Five Star Bancorp reported $14.5 million of net income for Q2 2025, with earnings per share of $0.68.
- Interest-bearing deposits grew by $87.4 million, mainly from new money market accounts, and noninterest-bearing deposits grew by $68.7 million.
- Loans held for investment grew by $136.2 million or 15% annualized, and deposits grew by approximately $158.3 million or 17% annualized.
- Net interest margin expanded by 8 basis points to 3.53%, while the cost of total deposits declined by 2 basis points to 2.46%.
- Noninterest-bearing deposits represented 26% of total deposits, up from 25% last quarter.
- Nonperforming loans remained low at 6 basis points of total loans held for investment.
- Provision for credit losses was $2.5 million during the quarter.
- Return on average assets was 1.37% and return on average equity was 14.17%.
- Total assets increased by $168.4 million, driven largely by commercial real estate loan portfolio growth of $125.4 million.
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