Dafinchi AI

First Foundation Inc.

FFWM

Financial Services

2w

Strategic Balance Sheet Optimization through CRE Loan Sales and Securitizations

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.

Chatham Lodging Trust

CLDT

Financial Services

1w

Financial Performance Summary

Completed sale of 5 hotels for $83 million at an approximate 6% cap rate on 2024 NOI levels.
GOP margin for the quarter was 46.3%, up 30 basis points from Q2 2024 despite flat RevPAR environment.
Leverage reduced to 21%, with net debt to EBITDA at 3.5x as of June 30, 2025.
Q2 2025 hotel EBITDA was $30.9 million, adjusted EBITDA was $28.5 million, and adjusted FFO was $0.36 per share.
Repurchased approximately 20,000 shares at a weighted average price of $7.02 under a $25 million share buyback plan.

Horizon Bancorp, Inc.

HBNC

Financial Services

3w

Consistent Loan Growth Driven by Existing Customer Expansion and Referral Network

Loan growth of $75.5 million (1.5% quarterly, 6.2% annualized) primarily driven by existing customer expansion and referrals.
Focus on core commercial banking relationships, with a stable pipeline and disciplined underwriting.
Commercial loans increased by $117 million (14.8% quarter-over-quarter), with a focus on C&I portfolio expansion.

First Merchants Corporation

FRME

Financial Services

3w

Financial Performance Summary

First Merchants delivered 9.1% annualized loan growth and $0.98 earnings per share in Q2 2025.
Net charge-offs were low at 0.07% of average loans annualized, with a provision reflecting improved asset quality and macroeconomic factors.
Net income was $56.4 million, up 43% year-over-year, supported by improved credit quality and a lower provision for credit losses of $5.6 million versus $24.5 million in Q2 2024.
Net interest income increased by $2.7 million and noninterest income by $1.3 million in Q2.
Noninterest expense was well controlled at $93.6 million, a modest increase primarily due to marketing and loan origination costs.
Noninterest income totaled $31.3 million, with customer-related fees up $1.6 million year-over-year, driven by mortgage sales and treasury management fees.
Return on assets was 1.23% and efficiency ratio was 54%, reflecting strong operational discipline.
Tangible common equity ratio improved to 8.92%, above target, supporting capital flexibility.
Year-to-date net income was $111.2 million, a 28% increase from 2024, with earnings per share up 30% to $1.92.

First Financial Bancorp.

FFBC

Financial Services

3w

Record Revenue and Industry-Leading Profitability Driven by Net Interest Margin

Achieved record revenue of $226.3 million, up 5% YoY.
Adjusted earnings per share of $0.74, return on assets of 1.54%, and return on tangible common equity of 20%.
Profitability primarily driven by a robust net interest margin of 4.05%, a 17 basis point increase from Q1.

National Retail Properties, Inc.

NNN

Financial Services

1w

Financial Performance Summary

Acquisitions totaled just over $230 million in Q2 across 45 properties with an initial cap rate of 7.4% and average lease term over 17 years.
Annualized base rent increased nearly 7% year-over-year to $894 million at quarter-end.
Dispositions included 23 properties in Q2 generating over $50 million in proceeds, with year-to-date dispositions at 33 properties raising over $65 million.
Free cash flow after dividend was approximately $50 million in Q2.
Lease termination fees totaled $2.2 million, primarily from an auto parts store and a full-service restaurant, both resolved quickly.
NNN REIT reported core FFO of $0.84 per share and AFFO of $0.85 per share for Q2 2025, each up 1.2% year-over-year.
NOI margin was 98% for the quarter, with G&A expenses at about 5% of total revenues and NOI, and cash G&A at 3.7% of total revenues.
The balance sheet remains strong with nearly $1.5 billion in liquidity and an average debt maturity of 11 years.
Year-to-date acquisitions reached $460 million across 127 properties with similar cap rates and lease terms.

Cullen/Frost Bankers, Inc.

CFR

Financial Services

2w

Financial Performance Summary

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.

EVR

Financial Services

2w

Financial Performance Summary

Adjusted compensation ratio improved to 65.4%, down 60 basis points year-over-year, while adjusted noncompensation expenses rose 9% due to technology and occupancy costs.
Adjusted operating income was $157 million, a 37% increase versus Q2 2024, with adjusted EPS of $2.42, up 34% year-over-year.
Advisory fees increased 23% year-over-year to $698 million, a record for the quarter.
Asset Management and Administration Fees grew 3% to $21 million, driven by market appreciation and net inflows.
Cash and investment securities totaled over $1.7 billion as of June 30, with positive cash flow and $532 million returned to shareholders in the first half through buybacks and dividends.
Evercore delivered adjusted net revenues of $839 million in Q2 2025, up nearly 21% year-over-year, marking record revenues for both the quarter and first half of the year.
GAAP net revenues, operating income, and EPS were $834 million, $150 million, and $2.36 per share respectively in Q2 2025.
Share repurchases totaled approximately 1.7 million shares year-to-date at an average price of $258.5 per share, fully offsetting dilution from RSU grants.
Underwriting revenues rose 4% to $32 million, commissions and related revenue increased 10% to $58 million.

Rocket Companies, Inc.

RKT

Financial Services

2w

Financial Performance Summary

Adjusted diluted EPS was $0.04.
Adjusted EBITDA was $172 million, representing a 13% margin.
Adjusted revenue reached $1.34 billion, above the high end of guidance, representing 9% year-over-year growth.
Gain on sale margin for Q2 was 280 basis points, consistent with the 12-month average.
Held $6 billion in available cash and $7.6 billion in mortgage servicing rights, totaling $13.6 billion in balance sheet value.
Home equity loan volume nearly doubled year-over-year, hitting new records for units and volume.
Net rate lock volume increased by 13% year-over-year, exceeding $28 billion.
Redfin's financials were not included in Q2 results as the acquisition closed on July 1.
Served over 100,000 origination clients, a 19% year-over-year increase, driven by home equity loan growth.
Total liquidity stood at $9.1 billion, including cash, undrawn lines of credit, and MSR credit facilities.

Intercontinental Exchange, Inc.

ICE

Financial Services

2w

Financial Performance Summary

Adjusted operating expenses totaled $983 million, towards the low end of guidance, driven by technology-related savings and synergies.
Adjusted operating income increased 13% to a record $1.6 billion, building on 11% pro forma growth in Q2 2024.
Capital returned to shareholders totaled $532 million in the quarter, including $255 million in share repurchases.
Exchange segment net revenues were a record $1.4 billion, up 12% year-over-year.
Fixed Income and Data Services segment revenues totaled a record $597 million, up 8% year-over-year in ICE Bonds.
Leverage ended the quarter at target 3x EBITDA, ahead of schedule after the Black Knight acquisition.
Mortgage Technology revenues totaled $531 million, up 5% year-over-year, with recurring revenues increasing largely due to Data and Analytics and Servicing.
Net revenue increased 9% to a record $2.5 billion, with growth contributions from all three operating segments.
Record volumes and revenues were achieved across energy, interest rate, and credit default swap markets, contributing to strong first half results.
Second quarter adjusted earnings per share were a record $1.81, up 19% year-over-year.