- B2B segment revenue grew nearly 40%, driven by a significant BaaS partner and growth in the BaaS portfolio.
- Consumer Services segment revenue declined but active account declines moderated, with retail channel showing flat active accounts and slight increases in key metrics.
- Corporate segment revenues increased due to higher interest income from balance sheet optimization and bond repositioning.
- Green Dot reported a strong Q2 2025 with adjusted revenue up 24% year-over-year and adjusted EBITDA up 34%, both exceeding expectations.
- Money Movement segment saw tax business outperform expectations with profits up over 10%, while money processing revenue declined modestly due to lower transaction volumes but improved revenue per transaction.
- Non-GAAP EPS reached $0.40 per share, a 60% increase year-over-year.
- Overall segment margins were flat year-over-year, with margin improvements in direct channel offsetting retail declines.
- Rapid Employer Services revenue declined due to challenges in the staffing industry, but margin expanded by 45 basis points due to improved profitability.
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- First-half revenues reached $672 million, up 39% from the prior year period, driven primarily by growth in M&A and capital markets.
- Moelis & Company reported $365 million in revenues for Q2 2025, a 38% increase year-over-year and the highest second quarter revenues on record.
- Non-compensation expense ratio for Q2 was 14.4%, with an expected full-year growth of approximately 15% compared to the prior year.
- The Board declared a regular quarterly dividend of $0.65 per share, unchanged from the prior period.
- The corporate tax rate was accrued at 29.5%, consistent with Q1's underlying tax rate prior to a discrete tax benefit.
- The firm maintains a strong balance sheet with $475 million in cash and liquid investments and no debt.
- The second-quarter compensation expense ratio was accrued at 69%, consistent with the previous quarter.
- Credit quality improved with lower nonperforming loans (NPLs), net charge-offs down to $42 million (45 bps annualized), and provision for credit losses reduced to $50 million.
- Deposits increased by $1.4 billion ending balance, with average balances up $499 million; deposit costs decreased by 5 basis points overall.
- Loan growth was strong at $931 million, with $681 million at Banco Popular Puerto Rico (BPPR) and $251 million at Popular Bank (PB).
- Net income for Q2 2025 was $210 million, up $32 million from Q1, with EPS increasing 21% to $3.09 per share.
- Net interest income (NII) increased by $26 million to $632 million, driven by loan growth, asset repricing, and lower deposit costs.
- Net interest margin expanded by 9 basis points GAAP and 12 basis points tax equivalent.
- Net interest margin expanded by 9 basis points GAAP and 12 basis points tax equivalent basis.
- Noninterest income was $168 million, up $16 million from Q1, driven by higher transaction fees and other operating income.
- Operating expenses increased $22 million to $493 million, mainly due to $17 million higher personnel costs and $13 million profit sharing accrual.
- Regulatory capital remains strong with CET ratio at 15.91% and tangible book value per share at $75.41.
- Return on tangible common equity (ROTCE) was 13.3%, up 190 basis points from Q1, with guidance to exceed 12% ROTCE for full year and target 14% longer term.
- Share repurchases totaled $112 million in Q2 at an average price of $99 per share, with $33 million remaining on prior authorization plus a new $500 million program.
- 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.
- Closed $2.3 billion in financing with a €1 billion raise at 3.5%, maintaining a low cost of debt at 3.2% with over eight years average maturity.
- Core FFO including net promote expense was $1.49 per share, excluding net promotes $1.50, both ahead of forecast.
- Energy business delivered 28 megawatts of solar generation and storage, progressing toward a one-gigawatt goal by year-end.
- Lease mark to market ended at 19%, capturing $75 million of NOI this quarter and $900 million as leases roll.
- Net effective rent change was 49% on a net effective basis and 29% on cash basis, highlighting durable lease mark to market.
- Record leasing quarter with nearly 62 million square feet signed, driving occupancy to 95.3%, up 20 basis points.
- Same-store net effective and cash NOI growth were 3.9% and 5.2%, respectively.
Dafinchi