- Average annualized loan growth was 5.3%, with average total deposits growing to over $37 billion.
- Capital ratios improved with CET1 ratio approaching 11%, tangible common equity at 8.5%, and tangible book value per share up 13% year-over-year to $11.14.
- Credit quality improved with total delinquency at 62 basis points, down 13 bps, and net charge-offs at 25 bps for the quarter.
- Efficiency ratio remained favorable at 54.8%.
- Linked-quarter revenue growth was 6.5%, driven by record net interest income of $347 million and noninterest income of $91 million.
- Net income available to common shareholders was $130.7 million, or $0.36 per share, in Q2 2025.
- Net interest margin expanded 16 basis points to 3.19%, the highest since Q4 2023.
- Noninterest income reached a record $91 million, more than doubling over the last 10 years.
- Operating noninterest expense was $246.2 million, with increases due to strategic hiring, technology investments, and mortgage down payment assistance program costs.
- Pre-provision net revenue rose 16% from prior quarter to $192 million.
- Provision expense was $24.9 million, supporting loan growth and charge-offs.
- Return on average tangible common equity was 14%.
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- Interest and fee income on client balances decreased 11% year-over-year due to lower short-term interest rates but increased modestly sequentially.
- Net operating revenues increased 4% year-over-year, driven by growth in securities, payments, and FX CFDs, offset by declines in physical contracts, listed and OTC derivatives.
- Segment performance varied: Commercial segment revenues declined 24% with segment income down 36%, Institutional segment achieved record revenues and income growth of 27% and 41%, respectively, and Self-directed retail segment revenues and income increased 18% and 49%.
- StoneX reported Q3 fiscal 2025 net income of $63.4 million with diluted EPS of $1.22, reflecting 2% net income growth but a 2% decline in EPS due to increased shares outstanding.
- Trailing 12-month results showed operating revenues up 17%, net income up 26% to $296.9 million, EPS of $5.87, and return on equity of 16.6%, exceeding the 15% target.
- Allowance as a percentage of private education loan exposure remained stable at 5.95%.
- GAAP diluted EPS in the second quarter was $0.32 per share.
- Liquidity ratio ended at 17.8%, total risk-based capital at 12.8%, and common equity Tier 1 capital at 11.5%.
- Loan originations for the second quarter were $686 million, roughly in line with the same period last year and slightly below expectations.
- Net interest income was $377 million, up $5 million from the prior year quarter.
- Net interest margin was 5.31%, 4 basis points ahead of the prior quarter.
- Net private education loan charge-offs were $94 million, representing 2.36% of average loans in repayment, an increase of 17 basis points year-over-year, attributed primarily to disaster forbearance related to California wildfires.
- Noninterest expenses were $167 million, consistent with expectations.
- Private education loans delinquent 30 days or more were 3.5% of loans in repayment, a slight decrease from 3.6% in the prior quarter but higher than 3.3% a year ago.
- Provision for credit losses was $149 million, up from $17 million in the prior year quarter due to a more cautious macroeconomic outlook and increased weighted average life of the portfolio.
- Old National closed its partnership with Bremer Bank two months earlier than expected, on May 1st, ahead of the original schedule.
- The early close contributed to positive earnings momentum for 2025 and shortened the tangible book value earnback period by approximately half a year.
- The partnership resulted in a larger balance sheet and improved capital position, with the CET1 ratio exceeding expectations at 10.74%.
- Repositioning of Bremer's securities portfolio increased the book yield from 2.85% to 5.54%, reduced duration from 6.4 to 4.7, and improved RWA density from 19% to 13%.
- Comparable property-level operating income grew approximately 5% excluding tax credit impact.
- Comparable retail leasing reached 644,000 square feet, near an all-time quarterly record.
- Completed asset sales totaling $143 million at blended yields in the mid- to upper 5% range.
- Excluding tax credit income, FFO per share was $1.76, beating consensus and prior year results.
- Liquidity improved to $1.55 billion with strong credit metrics; net debt-to-EBITDA at 5.4x excluding tax credit income.
- Reported FFO per share of $1.91 for Q2 2025 includes $0.15 from new market tax credit income recognized earlier than guided.
Dafinchi