Capital levels remained stable with CET1 ratio near 11%, and $9 million of share repurchases executed in Q2.
Charge-off ratio remained stable at 22 basis points, consistent with expectations, with net charge-offs increasing slightly to $34 million.
Expenses increased by $4 million excluding deferred compensation, with personnel costs down $3 million but advertising and outside services up due to marketing investments.
Fee income decreased by $3 million quarter-over-quarter, impacted by a 6% decline in ADR and a flat rate environment affecting fixed income performance.
First Horizon reported an adjusted EPS of $0.45 for Q2 2025, a $0.03 increase from the prior quarter, driven by $10 million incremental net interest income and strong credit conditions.
Loans and deposits both increased by 2% quarter-over-quarter, with loans to mortgage companies up $689 million and C&I loans up $316 million.
Net interest income grew by $10 million, primarily from loan portfolio growth, especially in mortgage warehouse lending.
Net interest margin compressed by 2 basis points to 3.40%, influenced by higher interest-bearing deposit costs and brokered CDs growth.
Balance sheet strengthened with a $300 million delayed draw term loan at 4.1% fixed rate, expanded $1.5 billion line of credit, and a new commercial paper program.
Better same-property operations contributed $0.04 to the beat, split evenly between higher revenue growth and lower operating expenses.
Essex Property Trust reported solid second quarter 2025 results with Core FFO per share exceeding the midpoint of guidance by $0.07.
Lower G&A expenses were timing related and contributed positively to the quarter.
Net debt to EBITDA stands at 5.5x with $1.5 billion in available liquidity.
Revised full year Core FFO per share guidance increased by $0.10 to $15.91, driven by higher same-property revenue growth, lower expenses, and strong joint venture performance.
Structured finance book repayments are causing a temporary headwind to Core FFO growth, expected to largely abate after the next four quarters.
Third quarter Core FFO guidance is $3.94 at midpoint, a $0.09 sequential decline due to seasonal expense increases and preferred equity redemptions.
Washington property taxes declined 9% year-over-year, aiding expense reduction.
Balance sheet remains strong with an adjusted tangible equity ratio of 9.8%, up from 8.2% a year ago.
Consumer Lending segment NIM was 232 basis points, down from 276 basis points in Q1, impacted by loans entering 91+ days delinquency and related accrued interest reserve adjustments.
Delinquency rates increased: FFELP >90-day delinquency at 10.1%, consumer lending 91+ day delinquency rose to 3%, partly due to disaster forbearance roll-offs.
Loan originations doubled year-over-year, with $443 million in refinance loans this quarter and over $1 billion in total originations year-to-date.
Navient reported core earnings per share of $0.20 in Q2 2025, or $0.21 on a core basis after adjusting for regulatory and restructuring expenses.
Net interest margin (NIM) for the Federal Education Loan segment was 70 basis points, exceeding guidance, with full year NIM expected between 55 and 65 basis points.
Operating expenses declined by $82 million year-over-year to $100 million, driven by business sales and expense reduction initiatives.
Provision expenses were elevated due to macroeconomic outlook deterioration, higher delinquency trends, and increased loan originations.
Returned $40 million to shareholders via share repurchases and dividends; repurchased 1.9 million shares for $24 million.
Dafinchi