- Adjusted CET1 capital ratio was 9%, at the lower bound of the target range of 9% to 10%.
- Average deposits increased by $1.8 billion (1.1%) sequentially and nearly $10 billion year-over-year, with disciplined deposit pricing.
- Average loans grew by $2.3 billion (1.8%) sequentially and 7.9% year-over-year, driven by commercial loans and new initiatives.
- Credit quality remains strong with net charge-offs at 20 basis points and allowance for credit losses at 1.86%.
- Earnings per common share were $0.34, including a $0.04 impact from securities repositioning and notable items, with adjusted EPS growing 27% year-over-year.
- Net interest income grew 2.9% sequentially and 12% year-over-year, with net interest margin at 3.11%, up 1 basis point sequentially.
- Noninterest expense was $1.2 billion, in line with guidance, with growth driven by incentive compensation and volume-related costs.
- Noninterest income increased 7% year-over-year, with payments, wealth, and capital markets fees growing 11%.
- Return on tangible common equity (ROTCE) was 16.1% reported, 17.6% adjusted for notable items.
- Tangible book value per share increased 16% year-over-year, illustrating strong capital growth and value creation.
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- Advisory revenue was $127 million with strong contributions from financials, industrials, and improving health care and technology sectors.
- Asset management revenues rose 6%, reflecting market appreciation and improved organic growth.
- Commissions and principal transactions rose 11% with gains in both Global Wealth and Institutional segments.
- Compensation ratio was 58%, consistent with the high end of full year guidance, and operating pretax margin was 20.3%.
- Equity capital raising totaled $46 million with a market shutdown for six weeks post-Liberation Day but recovery mid-May.
- Equity transactional revenue increased 16% year-over-year, and fixed income revenue rose 21% year-over-year.
- Fixed income underwriting revenue was $54 million, up 18% sequentially driven by public finance activity.
- Global Wealth Management posted its strongest second quarter ever with record client asset levels and higher net interest income.
- Institutional business revenue increased 7% year-over-year, with record fixed income revenue and a late quarter pickup in investment banking.
- Investment banking revenue totaled $233 million, exceeding guidance by over $20 million due to six transactions closing late in the quarter.
- Net interest income increased 8% due to higher interest earning assets and lower funding costs.
- Net interest income of $270 million came in at the high end of guidance with a 12 basis point increase in bank net interest margin.
- Non-compensation expenses increased 7% year-over-year, with severance and restructuring charges of $28 million in European operations.
- Operating EPS of $1.71 was up 7% from the prior year.
- Provision for income taxes was 25.4%, slightly above consensus due to nondeductible foreign losses.
- Stifel Financial delivered over $1.28 billion of net revenue and $1.71 in core EPS in Q2 2025, marking the best second quarter in company history with a return on tangible common equity of 22%.
- Tier 1 leverage capital ratio was 10.8%, and Tier 1 risk-based capital ratio was 17.5%, with approximately $315 million of excess capital.
- Credit costs remained low with a $7.5 million provision expense and net charge-offs at 6 basis points; one day 1 PCD charge-off of $17 million was recorded on an acquired relationship.
- Loan production increased 57% from about $2 billion to over $3 billion quarter-over-quarter, contributing to solid loan growth.
- Net interest income increased by $33 million over Q1, driven by loan coupon yields, securities portfolio restructuring, and lower cost of deposits.
- Noninterest expenses were $351 million, at the low end of guidance, resulting in a second quarter efficiency ratio of 49.1%, bringing the year-to-date ratio below 50%.
- Noninterest income remained stable at $87 million, with gains in correspondent business offset by a slight decline in mortgage revenue.
- SouthState reported a strong Q2 2025 with adjusted return on assets at 1.45% and return on tangible common equity near 20%, excluding merger costs.
- Tangible book value per share increased 8.5% year-over-year to $51.96 despite dilution from the IBTX merger; CET1 capital ratio improved compared to June 2024.
- Adjusted EBITDA was $179 million with a margin of 50.8%, slightly above guidance due to positive asset mix and annual fee realization.
- Adjusted net income was $133 million or $1.57 per diluted share, a 15% increase in EPS from the prior quarter.
- GAAP operating margin was 26.8%, impacted by $53 million in acquisition-related restructuring and integration costs.
- Net leverage ratio improved to 1.2x, the lowest since IPO, and debt-to-equity ratio improved to 0.39.
- Revenue rose 60% from the prior quarter to $351.2 million, driven by the acquisition of Pioneer Investments.
- The Board increased the share repurchase authorization from $200 million to $500 million, the largest in company history.
- Total client assets increased by 76% quarter-over-quarter to over $300 billion, a record high for a quarter end.
- Broadstone Net Lease reported adjusted funds from operations (AFFO) of $74.3 million or $0.38 per share for Q2 2025, representing 5.6% growth compared to Q2 2024.
- Core general and administrative expenses totaled $6.9 million for the quarter and $14.3 million year-to-date, tracking in line with full year expectations of $30 million to $31 million.
- Dividend declared at $0.29 per share payable on or before October 15, 2025.
- Investment activity through Q2 2025 totaled approximately $229 million, with nearly 60% allocated to stabilized properties, funded by retained cash flow, disposition proceeds, and revolver.
- Pro forma leverage ended the quarter at 5.2x net debt with over $800 million available on the revolving credit facility.
- Weighted average initial cash cap rate on acquisitions was 7.2%, with lease terms averaging 12.4 years and annual rent increases of 2.8%.
- Year-to-date bad debt totaled 45 basis points, reflecting rental recoveries and limited bad debt incurrence during the quarter.
Dafinchi