- Allowance for credit losses was 1.06% of loans; capital ratios remained strong with CET1 at 10.63% and total capital ratio at 14.39%.
- Deposits grew 1.7% driven by new commercial accounts and branch contributions; noninterest-bearing demand deposits rose over 7% year-over-year, representing 31.3% of total deposits.
- Efficiency ratio held steady at 55.7% despite a 3.9% increase in noninterest expenses, including higher salaries and advertising due to branch expansion.
- Net charge-offs were $11.4 million, including an $8.6 million charge-off on a syndicated commercial real estate loan; excluding this, charge-offs were 18 basis points annualized.
- Net income for Q2 2025 was $15.1 million or $0.50 per diluted share, down from $17.7 million and $0.58 in Q1, primarily due to increased credit loss expense.
- Net interest margin increased by 5 basis points to 3.07%, helped by lower funding costs and loan volume growth.
- Pre-provision net revenues grew 3.7% quarter-over-quarter to $57.1 million, driven by higher net interest income and noninterest income.
- Return on average assets was 0.79% and return on average equity was 7.8%.
- Total loans increased by 0.4% linked-quarter or 1.6% annualized to $6.31 billion, with growth in C&I and residential mortgage loans.
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- FFO and core FFO per share for Q2 2025 were $0.33 and $0.35 respectively, down from $0.36 in Q2 2024.
- Net assets increased from $1.16 billion to $1.2 billion mainly due to two industrial acquisitions totaling $78.95 million.
- Operating expenses decreased to $25.1 million in Q2 2025 from $26.0 million in Q2 2024, due to incentive fee waivers and lower depreciation, offset by higher property expenses.
- Same-store rents increased by 6.4% in the first half of 2025 compared to the same period in 2024.
- Total operating revenues increased to $39.5 million in Q2 2025 from $37.1 million in Q2 2024, driven by higher recovery and rental rates.
- Capital ratios remained stable with CET1 ratio slightly increasing from 9.03% to 9.08%.
- Core deposits grew 11.5% annualized in Q3 and 7.4% year to date, reflecting strong deposit momentum.
- Fee income declined in Q3 due to lumpiness in swap fees but is expected to rebound in Q4.
- Loan balances increased 6.6% annualized in Q3 and 12% annualized year to date, driven by multiple asset classes including affordable housing.
- Net charge-offs remained very low at 0.03% of loans, and non-performing assets held steady at 0.19% of total assets, indicating strong asset quality.
- Net interest income increased by $1.6 million in Q3, supported by loan growth and a 1 basis point net interest margin expansion to 2.63%.
- Noninterest expenses were elevated due to systems conversion and marketing efforts, with 17 new full-time employees added in Q3.
- Tangible book value per share increased 20% annualized in Q3 and 14% annualized year to date, demonstrating consistent shareholder value creation.
- Adjusted EBITDA declined 5% and adjusted core EPS declined 7% due to a 100 basis point decrease in short-term rates impacting escrow earnings.
- Capital Markets segment revenues grew 46% year-over-year with net income up 200% to $33 million and adjusted EBITDA up 116% to $1.3 million.
- Cash balance ended at $234 million, supporting capital deployment and dividend payments.
- GAAP earnings per share rose 48% year-over-year to $0.99, driven by economies of scale and significant noncash mortgage servicing rights (MSRs) booked.
- No new loan defaults were recorded; credit quality remains strong with only 8 defaults in a $65 billion at-risk portfolio.
- Quarterly dividend increased to $0.67 per share, marking seven consecutive years of dividend growth.
- Servicing & Asset Management segment servicing fees increased 4% to $84 million, but total segment revenues declined 5% due to lower placement fees and investment management fees.
- Walker & Dunlop reported a 65% year-over-year increase in total transaction volume to $14 billion in Q2 2025, more than doubling from Q1 2025.
- Cash rents increased by $4.6 million year-over-year, driven by investment volume and lease escalators.
- Interest expense remained flat year-over-year; weighted average diluted shares increased 7.5% to 46.8 million.
- Liquidity stood at approximately $760 million, including cash, revolver capacity, and escrowed forward equity proceeds.
- NAREIT FFO per share increased 0.8% to $1.19, and normalized FFO per share increased 3.4% to $1.22 compared to Q2 2024.
- Net income per share for Q2 2025 was $0.79, down 2.5% year-over-year.
- Secured debt was fully retired during the quarter, and net debt to adjusted EBITDA ratio was 3.9x, below target range.
- SHOP NOI grew 29.4% year-over-year to $3.8 million, with a 32.6% increase in SHOP common shareholder FAD contribution.
- Cash and GAAP rent growth were strong at 3.6% and 17.6%, respectively.
- Highwoods Properties delivered FFO of $0.89 per share in Q2 2025, with net income of $18.3 million or $0.17 per share.
- Leasing volumes were strong with 923,000 square feet of second-gen leasing, including 371,000 square feet of new leasing.
- Occupancy was roughly flat from Q1 at 85.6%, while leased rate increased 80 basis points to 88.9%.
- The company raised the mid-point of its 2025 FFO outlook by $0.02 to a range of $3.37 to $3.45 per share.
- The debt-to-adjusted EBITDAre ratio was 6.3x at quarter-end, with $106 million left to fund on the development pipeline and over $700 million of available liquidity.
- The quarter included three atypical items: a $3 million payment from Florida Department of Transportation, $1 million of term fees from early space takebacks, and nearly $1 million write-off of predevelopment costs.
- Average loans increased by an annualized 2.1% and customer deposits by 3.1% sequentially.
- Common Equity Tier 1 ratio stood at 11.3%, with tangible book value per share growing 17% year-over-year.
- Customer fees, excluding net credit valuation adjustment, grew by $10 million sequentially, with adjusted expenses declining by $1 million.
- Diluted earnings per share was $1.48, down from $1.63 in the prior quarter but up from $1.37 a year ago, impacted by credit valuation adjustments and elevated credit provisions.
- Efficiency ratio improved to 59.6%, reflecting positive operating leverage as revenue growth outpaced expense growth.
- Net charge-offs totaled $56 million or 37 basis points annualized, largely driven by a $50 million charge-off related to two specific C&I loans.
- Net interest margin expanded by 11 basis points sequentially to 3.28%, marking the seventh consecutive quarter of margin improvement.
- Provision for credit losses was $49 million, reducing allowance for credit losses by $7 million relative to prior quarter.
- 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.
- Advisory revenues up 60% year over year to $1.4 billion, leading global M&A advisor.
- Asset and Wealth Management revenues reached $4.4 billion, with record management fees of $2.9 billion.
- Debt underwriting revenues rose 30%, reflecting higher leveraged finance activity.
- Equity underwriting revenues increased 21% year over year, driven by IPO activity.
- FICC net revenues of $3.5 billion, up 17% year over year, with strong rates and mortgages.
- Global Banking & Markets revenues of $10.1 billion with a 17% ROE year to date.
- Net revenues of $15.2 billion and earnings per share of $12.25 in Q3 2025.
- Return on equity (ROE) of 14.2% for the quarter and 15.6% year to date.
Dafinchi