- Adjusted pre-provision net revenue (PPNR) increased 11%, producing 330 basis points of positive operating leverage.
- Adjusted return on assets (ROA) was 1.25%, return on tangible common equity (ROTCE) was 17.7%, and efficiency ratio was 54.1%.
- Average loans increased 6% year over year, marking the fourth consecutive quarter of accelerating loan growth.
- Commercial nonperforming assets declined 14% sequentially and 30% since Q1, with criticized assets down 4%.
- Net charge-off ratio was 109 basis points, including $178 million from Tricolor; excluding Tricolor, commercial charge-offs were 51 basis points, consumer charge-offs 52 basis points, the lowest in two years.
- Net interest income (NII) improved 7% year over year and 2% sequentially, with net interest margin expanding for the seventh consecutive quarter.
- Reported earnings per share of $0.91, or $0.93 excluding certain items, despite a $200 million provision related to Tricolor fraud.
- Tangible book value per share grew 7% year over year and 3% sequentially, despite repurchasing $300 million of stock.
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- Average loan balances grew by $2.8 billion or 2% sequentially; deposits increased by $1.4 billion or 0.8%.
- Credit quality remains strong with net charge-offs at 22 basis points and allowance for credit losses at 1.86%.
- GAAP noninterest expense was $1.2 billion, slightly above guidance due to revenue-related compensation.
- Loan growth accelerated to 9.2% year over year, driven by commercial lending and new initiatives.
- Net interest income grew approximately $40 million sequentially, representing nearly 12% year-over-year growth.
- Net interest margin (NIM) was 3.13%, up 2 basis points from prior quarter.
- Noninterest income increased 14% year over year, with strong fee growth in payments, wealth management, and capital markets.
- Reported earnings per common share of $0.41, with adjusted EPS of $0.40, up 18% year over year.
- Adjusted book value per share increased 14% year-over-year to $144.57, excluding unrealized investment gains and losses.
- All three segments showed strong net earned premiums and excellent profitability: Business Insurance combined ratio improved to 88.3%, Bond and Specialty to 87.8%, and Personal Insurance to 79.3%.
- Capital returned to shareholders totaled $809 million, including $557 million in share repurchases and $252 million in dividends.
- Net earned premiums grew 7% to $10.9 billion with an underlying combined ratio improving 3 points to 84.7%.
- Net investment income after tax was $774 million, a 6% increase from prior year, driven by a growing fixed income portfolio with total invested assets surpassing $100 billion.
- Operating cash flow was $2.3 billion for the quarter, marking the 21st consecutive quarter with over $1 billion in operating cash flow, totaling over $40 billion in that period.
- The Travelers Companies, Inc. reported exceptional Q2 2025 results with core income of $1.5 billion or $6.51 per diluted share and a core return on equity of 18.8% for the quarter, 17.1% on a trailing twelve-month basis.
- Adjusted EBITDA margins excluding acquisition drag would have been 53%, with expectations of higher operating leverage as the year progresses.
- Adjusted free cash flow was $118 million in Q2, representing 57% free cash flow conversion, on track for 50%+ conversion for the full year.
- Blended spreads improved to 62.6 basis points compared to 61.5 basis points in Q2 2024, exceeding full-year guidance.
- GAAP net income was $41 million with diluted EPS of $0.32, and non-GAAP adjusted net income was $109 million or $1.10 per share on a fully diluted basis.
- Gross revenue less network fees grew 29% year-over-year to $413 million, and adjusted EBITDA increased 26% to $205 million with adjusted EBITDA margins at 49.6%.
- Shift4 reported 25% year-over-year growth in payment volumes to $50 billion, marking the first quarter with over $50 billion in payment volumes.
- Subscription and other revenues grew 37% year-over-year to $97.7 million, setting a Q2 record.
- Adjusted net revenues for Q2 2025 were $405 million with an 18.1% operating margin and adjusted EPS of $2.95, all higher compared to the same period last year.
- Advisory revenues were $206 million during the quarter, up 12% year-over-year, driven by a broad set of products and higher average fees.
- Compensation ratio was 62% for Q2 and 62.2% for the first half, improved from prior periods due to increased net revenues.
- Corporate financing revenues were $35 million, down 31% from the year ago period, completing 26 financings raising $10 billion for clients.
- Equity brokerage revenues were $58 million, up 12% year-over-year, with 2.9 billion shares traded for over 1,200 clients.
- Fixed income revenues were $54 million, up 21% from Q1 and 37% from the year ago period, driven by depository client activity.
- GAAP results included a $5 million restructuring charge related to headcount reductions and vacated office space from the Aviditi Advisors acquisition.
- Municipal financing revenues were $42 million, up 66% year-over-year, exceeding market issuance growth of 15%.
- Net revenues for the first half of 2025 totaled $789 million, operating income was $142 million with an 18% margin, and diluted EPS was $7.04.
- Non-compensation expenses excluding reimbursed deal costs were $69 million for Q2, up 6% year-over-year, driven by legal and professional fees.
- Adjusted pretax operating loss for All Other was $16.4 million, primarily due to mark-to-market changes on residential mortgage loans held for sale.
- Book value per share increased 12% year-over-year to $33.18, including $2.02 of unrealized net loss on investments expected to accrete over time.
- Operating expenses totaled $89 million for the quarter, with full-year 2025 expenses expected at $320 million, an 8% decrease from 2024.
- Primary mortgage insurance in force grew to an all-time high of $277 billion, with new insurance written at $14.3 billion, a 3% increase year-over-year.
- Provision for losses was a net expense of $12 million, down from $15 million in Q1, supported by strong cure activity and low claim levels.
- Radian reported net income of $142 million in Q2 2025, with a return on equity of 12.5%.
- Total revenues were $318 million, with net premiums earned at $234 million, consistent with previous quarters.
- Adjusted earnings were approximately $66 million or $0.69 per diluted share.
- Adjusted efficiency ratio improved by about 7 percentage points.
- Adjusted loan yields decreased 1 basis point to 6.18%.
- Adjusted pre-provision net revenue was $103 million.
- Adjusted total cost of deposits decreased 18 basis points to 2.04%.
- Allowance for credit losses (ACL) as a percentage of total loans increased 1 basis point to 1.57%.
- Capital ratios remain well above regulatory minimums.
- Core net interest margin expanded from 3.42% to 3.58%.
- Deposits increased by $361 million or 7% quarter-over-quarter.
- Loans increased by $312 million or 7% quarter-over-quarter.
- Net charge-offs were $12.1 million, mainly from two credits.
- Noninterest expense was $183.2 million, excluding $20.5 million merger/conversion expenses, core expense was $162.7 million.
- Noninterest income was $48.3 million, up $11.9 million linked quarter, driven by The First and mortgage division.
- Reported earnings were $1 million or $0.01 per diluted share for Q2 2025.
- Reported margin rose from 3.45% to 3.85% reflecting purchase accounting adjustments.
- Expanded full-year net interest margin to 7.34% and adjusted net interest margin to 5.92%, reflecting improved rate-related card expense management.
- Fourth quarter net income grew 16% with EPS up 26% to $1.69, supported by 13% growth in non-interest income.
- Liquidity remains strong with $2.3 billion available, higher than the prior year.
- Loans and leases grew to $4.7 billion, a 14% increase primarily from commercial finance verticals including renewable energy and asset-based lending.
- Net income for the year was $185.9 million, driven by a 10% increase in non-interest income compared to the previous year.
- Non-performing loans increased in the quarter but remain well collateralized; net charge-off rate for 2025 was 64 basis points, within historic range.
- Reported full-year earnings per diluted share of $7.87, representing 9% year-over-year growth and exceeding the high end of prior guidance.
- Return on average assets for the year was 2.46%, and return on average tangible equity was 38.75%, indicating strong profitability.
Dafinchi