- The merger with Southern States Bankshares was completed on July 1, 2025, and fully integrated by Labor Day weekend, marking the first quarter reporting on the combined entity.
- Southern States portfolios contributed to margin expansion, adding approximately 6-8 basis points on a core basis, which positively impacted the overall net interest margin.
- The company benefited from purchase accounting accretion of about $6 million in the quarter, which supported margin growth.
- The full impact of the merger, including system conversions and integration costs, was reflected in the financial results, with a focus on achieving synergies earlier than initially planned.
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- Allowance for credit losses totaled $142.2 million or 1.34% of total loans, with total loss absorption capacity of $250.6 million or 2.36% of loans.
- Asset quality remained sound with nonperforming loans declining to 0.61% of total loans and net charge-offs at $2.5 million (9 basis points annualized).
- Asset quality remained strong with nonperforming loans declining to 0.61% of total loans and net charge-offs at $2.5 million or 9 basis points annualized.
- Capital ratios remain strong with Tier 1 capital at 14.6% and tangible common equity to tangible assets at 9.75%.
- Capital ratios remain strong with Tier 1 capital ratio at 14.6% and tangible common equity to tangible assets at 9.75%, and tangible book value per share increased 12% year-over-year to $17.19.
- Loan growth was strong at an annualized 6.4%, with production of $854 million and a robust pipeline of $921 million.
- Net income increased 36% sequentially to $42.7 million or $0.50 per share, with adjusted net income up 39% to $44.5 million or $0.52 per share.
- Net interest income grew 7% to $126.9 million, driven by loan growth and lower deposit costs.
- Net interest income rose 7% to $126.9 million, driven by loan growth and lower deposit costs, with net interest margin expanding 10 basis points to 3.58%.
- Net interest margin expanded 10 basis points to 3.58%, or 5 basis points excluding accretion on acquired loans.
- Noninterest expense was $91.7 million, including $2.4 million in merger-related expenses, with an adjusted efficiency ratio improving to 55.4%.
- Noninterest expense was $91.7 million, including $2.4 million merger-related expenses, with adjusted efficiency ratio improving from 59.5% to 55.4%.
- Noninterest income increased 10% year-over-year to $24.5 million excluding securities activity, supported by treasury management, wealth, and insurance businesses.
- Noninterest income increased 10% year-over-year to $24.5 million, supported by treasury management, wealth, and insurance businesses.
- Return on assets improved to 1.08%, and return on tangible common equity rose to 12.8%.
- Return on assets improved to 1.08%, return on tangible common equity to 12.8%, and the adjusted efficiency ratio improved to 55%.
- Classified loans declined $24.4 million or 5.1%; nonperforming loans declined modestly; criticized loans increased $176.9 million or 17.2%, mainly due to slower lease-up in multifamily loans.
- Common equity Tier 1 capital ratio improved 90 basis points to 13.43%.
- Deposits declined $102.2 million sequentially, approximately flat year-over-year adjusted for a large temporary deposit in Q2 2024.
- Dividend declared of $0.47 per share, yielding 7.0%.
- Interest-bearing deposit costs declined 1 basis point; total funding costs declined 9 basis points due to mix shift.
- Loans held for investment declined $1 billion, including $338 million moved to held-for-sale related to branch transaction, $74 million sold with credit card outsourcing, and $73 million amortization of indirect lending portfolio.
- Net charge-offs were $5.8 million or 14 basis points annualized; provision expense reduced by $0.3 million.
- Net income for Q2 2025 was $71.7 million or $0.69 per diluted share, up from $50.2 million or $0.49 per diluted share in Q1 2025.
- Net interest income increased by $2.2 million to $207.2 million, driven by reduced interest expense and lower average loan balances.
- Net interest margin was 3.32% fully tax equivalent, or 3.26% excluding purchase accounting accretion, up 12 basis points from prior quarter.
- Noninterest expense declined $5.5 million to $155.1 million due to lower seasonal payroll taxes and incentive compensation estimates, partially offset by $1.5 million in property valuation and lease termination fees.
- Noninterest income was $41.1 million, down $0.9 million sequentially, including a $7.3 million valuation allowance and a $4.3 million gain on sale from credit card outsourcing.
- Other borrowed funds declined to $250 million, down $2.2 billion year-over-year and $710 million sequentially.
- Yield on average loans increased 6 basis points to 5.65%, driven by repricing and payoffs of lower-yielding loans.
- ServisFirst Bancshares strategically sold approximately $70 million of bonds yielding 1.34% at a loss of $8.6 million during Q2 2025.
- The proceeds from bond sales were reinvested into new investments with an average yield of 6.28%, aiming for stronger margin performance.
- The bond restructuring is expected to have a payback period of approximately 3.8 years, positioning the bank for improved profitability.
- This move reflects a proactive strategy to optimize the investment portfolio amid changing interest rate environments and market conditions.
- 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.
- Ameris Bancorp reported net income of $109.8 million or $1.60 per diluted share in Q2, a 21% increase year-over-year.
- Capital ratios strengthened with common equity Tier 1 at 13% and tangible common equity (TCE) ratio at 11.09%.
- Deposits increased slightly by $20 million, with noninterest-bearing deposits growing to 31% of total deposits.
- Loan growth was 6.5% annualized, driven mostly by commercial and industrial (C&I) loans, with total loan production at $1.9 billion.
- Provision for credit losses was $2.8 million, with asset quality improving across nonperforming assets, net charge-offs, and classified loans.
- Return on assets (ROA) improved to 1.65%, return on tangible common equity (ROTE) rose to 15.8%, and the efficiency ratio improved to 51.63%.
- Revenue grew at an annualized rate of 20.9%, outpacing expense growth, with net interest margin (NIM) expanding 4 basis points to 3.77%.
- Partnership aims to lower loan-to-deposit ratio, reduce cost of funds, and enhance liquidity.
- Eastern Michigan Bank's strong credit profile and community focus align with Mercantile's culture.
- Partnership will facilitate entry into new markets with proven leadership.
- Financial benefits include double-digit earnings accretion, mid-single-digit tangible book value dilution, and a mid-3-year earn-back period.
- Transition to Jack Henry core system scheduled for early 2027, leveraging Eastern Michigan's experience with the provider, ensuring a smooth transition.
- Commercial loan growth was $114 million for the first 6 months of 2025, an annualized rate of 6.2%, despite $154 million in loan reductions primarily from asset sales.
- Deposit base increased 13% year-over-year, reducing the loan-to-deposit ratio from 107% to just under 100%.
- Effective tax rate was reduced to about 13% in Q2 2025 due to acquisition of transferable energy tax credits, lowering federal income tax expense by $1.5 million.
- Mortgage banking income increased 23.4% for the first 6 months of 2025 compared to the same period in 2024.
- Net income for Q2 2025 was $22.6 million or $1.39 per diluted share, up from $18.8 million or $1.17 per diluted share in Q2 2024.
- Net income for the first 6 months of 2025 was $42.2 million or $2.60 per diluted share, compared to $40.3 million or $2.50 per diluted share in the prior year period.
- Net interest income increased by $2.4 million in Q2 and $3.6 million in the first 6 months of 2025 compared to prior year periods.
- Net interest margin declined 14 basis points year-over-year in Q2 2025 but improved sequentially from Q1 2025.
- Noninterest expenses increased due to higher salary, benefits, data processing costs, and new product introductions.
- Provision expense was $1.6 million in Q2 and $3.7 million in the first 6 months, reflecting increased allocations for stressed loans and economic forecast changes.
- Common equity Tier 1 ratio increased, loan-to-deposit ratio remained flat at 81%, and tangible book value per common share grew over 3% to $35.13.
- Expenses increased modestly by $2.1 million due to investments in human capital and technology, maintaining an efficiency ratio of 45.4%.
- Net interest income increased by $9 million, while net interest margin decreased 4 basis points to 3.44%, influenced by deposit mix shifts and higher cash balances.
- Non-interest income rose by $3 million, driven by deposit service fees and lower credit valuation adjustment impact.
- Non-performing assets decreased 5%, and commercial classified loans declined 4%, indicating improving asset quality.
- Provision for credit losses decreased by $31 million to $47 million, with net charge-offs at $36 million and allowance for loan losses at $722 million (1.35% of loans).
- Return on tangible common equity was 18%, ROAA nearly 1.3%, with over 1% linked quarter growth in loans and deposits.
- Revenue grew 1.6% over the prior quarter, with net income to common shareholders up $31 million and EPS increasing to $1.52 from $1.30.
- SmartFinancial has demonstrated consistent organic growth, with a 10% annualized increase in loans and a 15% increase in deposits during Q3 2025.
- The company is actively expanding its footprint across Southeast markets, including Alabama, Tennessee, and Florida, with momentum building in key regions like Birmingham and Mobile.
- Management highlighted the potential for Alabama to double in size over time, emphasizing the strategic focus on deeper market penetration.
- The company’s culture and talent acquisition efforts are fueling growth, with new hires across multiple states and a strong regional banker recruitment process.
- Leadership remains bullish on market opportunities, aiming to grow revenue at a high single-digit to low double-digit pace into 2026, supported by a robust pipeline.
- Primis highlighted its wide operating leverage, with incremental margins in the mid-4% range, driven by the sale of the life premium portfolio and the addition of the warehouse lending team.
- The company emphasized that its digital platform is scalable and targeted, contributing $36 million at a 4.06% rate, supporting low-cost deposits and high-yield lending.
- Management stressed that deposit costs have decreased by 32% year-over-year to 2.89%, significantly improving margin and deposit competitiveness.
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