- Executed a $6.9 million pretax loss on the sale of $91.6 million securities as part of a strategic balance sheet repositioning.
- Reinvested $56.4 million in securities and used remaining proceeds for higher-yielding loans.
- Most securities sales occurred in June, indicating a tactical move to optimize the balance sheet.
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- Capital ratios and tangible book value per share increased linked quarter driven by improved profitability and strategic balance sheet repositioning.
- Consumer loan balances decreased by $41 million due to strategic run down of indirect auto portfolio; residential mortgage lending modestly grew.
- Credit quality remained strong with substandard loans at 1.29%, nonperforming loans at 54 basis points, and net charge-offs near $254,000 or 2 basis points for the quarter.
- Horizon Bancorp reported strong second quarter 2025 earnings driven by core community banking franchise strength, significant net interest margin expansion, low net charge-offs of 2 basis points annualized, and improved ROAA and ROATCE metrics.
- Loan growth was solid with net loans held for investment growing $75.5 million or 1.5% in the quarter and 6.2% annualized, led by commercial loans growth of $117 million (14.8% quarterly growth).
- Net interest margin increased by 19 basis points to 3.23%, including 7 basis points of outsized interest recoveries; excluding recoveries, margin expanded driven by improved asset and liability mix and disciplined pricing.
- Noninterest income was stable with seasonal strength in interchange fees and mortgage gain on sale; expenses were well managed at $39.4 million, with full year expense outlook now approximately flat versus 2024.
- Reported earnings per share grew by 58% for the first six months of 2025 compared to the prior year.
- Asset quality improved with decreases in nonaccrual loans, criticized loans, and past due loans.
- Deposits remained flat, partly due to efforts to control deposit costs.
- Loan growth was approximately 7% on an annualized basis in Q2, with early indications of increased loan demand in July.
- Loan loss reserves are deemed sufficient to cover any exposures.
- Net interest margin improved to 3.85% from 3.75% last quarter.
- Preferred Bank reported a second quarter net income of $32.8 million or $2.52 per share, showing reasonable improvement from the previous quarter.
- The bank repurchased $56 million of stock this quarter, which slightly impacted net interest income, PPNR, and net interest margin.
- Asset quality remained stable with criticized loans down 8% quarter-over-quarter and allowance coverage at 1.04%.
- Charge-offs increased to $12 million annualized (33 bps) from $8 million (25 bps) in Q1.
- Earnings per diluted share excluding notable items remained flat at $0.19 due to 7 million shares issued in the Territorial acquisition.
- Net income excluding notable items was $24.5 million in Q2 2025, up 7% from $22.9 million in Q1 2025.
- Net interest income increased 17% quarter-over-quarter to $118 million, driven by Territorial acquisition, organic loan growth, and margin expansion.
- Net interest margin expanded 15 basis points to 2.69%.
- Noninterest expense excluding notable items increased to $92 million from $81 million due to Territorial operations addition.
- Noninterest income excluding notable items rose 44% year-over-year to $15.9 million.
- Pretax pre-provision net revenue excluding notable items grew 17% quarter-over-quarter to $41.2 million.
- Provision for credit losses excluding notable items was $10.5 million, up from $5 million in Q1.
- The company has strategically repositioned its balance sheet to reduce asset sensitivity, aiming to drive consistent net interest income growth throughout interest rate cycles.
- Focus on enhancing ability to adapt to changing rates, with a clear long-term success plan.
- Asset quality remained strong with no net charge-offs, nonperforming assets steady at 0.19%, and classified loans showing a modest uptick.
- Bridgewater reported strong revenue and balance sheet growth trends in Q2 2025, with net interest margin expanding by 11 basis points to 2.62%.
- Expenses were well controlled with a slight increase due to FDIC insurance, charitable contributions, and marketing, resulting in an adjusted efficiency ratio of 51.5%.
- Fee income reached record levels excluding one-time gains, including nearly $1 million in swap fee income and over $200,000 in investment advisory fees from the First Minnetonka City Bank acquisition.
- Net interest income grew by $2.2 million during the quarter, driven by loan portfolio repricing and strong loan growth at a 12.5% annualized rate.
- Noninterest income increased $773,000 or 37% excluding securities gain and FHLB prepayment income.
- Tangible book value per share grew nearly 11% annualized year-to-date, with $1.6 million of common stock repurchased in Q2.
- The Wisconsin OCI recommended approval of Ambac's sale of its Legacy financial guaranty business, with a hearing scheduled for September 3, 2025.
- Final approval of the sale is the last condition before closing, which is expected to significantly reshape the company's business focus.
- Post-sale, Ambac plans to implement strategic initiatives including rebranding, expense realignment, new executive compensation, and investments in data and AI to accelerate growth and profitability.
- Management emphasized that these initiatives are aimed at completing the business transformation and positioning Ambac for strong growth into 2026.
- Ambac aims to create material shareholder value through these strategic moves and expects to provide updated guidance after the sale concludes.
- Adjusted EPS of $0.51, up $0.06 from the prior quarter, with adjusted return on tangible common equity increasing by 135 basis points to 15%.
- Adjusted expenses increased by $45 million, primarily due to higher personnel costs, project expenses, technology, risk, and a $20 million contribution to the First Horizon Foundation.
- Common Equity Tier 1 (CET1) capital ratio remained flat at 11%, with a near-term target of 10.75% following annual stress testing.
- Deposit balances decreased by $52 million, driven by a $652 million decline in brokered CDs, offset by growth in index and promotional deposits and a $131 million increase in noninterest-bearing deposits.
- Fee income increased by $26 million excluding deferred compensation, driven by higher fixed income fees and mortgage servicing rights sales.
- Loan balances were slightly down, with mortgage company loans decreasing seasonally by $132 million, while C&I loans grew by $174 million quarter-over-quarter.
- Net charge-offs decreased by $7 million to $26 million, with a net charge-off ratio of 17 basis points and a loan loss provision credit of $5 million.
- Net interest income grew by $33 million with a 15 basis point expansion in net interest margin to 3.55%, aided by loan balance growth and Main Street lending accretion.
- Sold $175 million of self-storage properties at sub-6% cap rate, with remaining sales of 17 properties under contract for August closings.
- Achieved a spread of over 100 basis points between asset sales and new investments, with potential to reach 150 basis points by year-end.
- Reinvested proceeds into new investments with initial cap rates averaging mid-7s, primarily in industrial and warehouse sectors, supporting high-yield, long-term leases.
- Adjusted book value per share ex AOCI and with AB ownership at market value was $40.89, up 11% year-over-year.
- Adjusted non-GAAP operating EPS was $1.41, down 8% compared to the prior year, primarily due to elevated individual life mortality claims.
- AllianceBernstein (AB) reported net outflows of $6.7 billion in Q2 but returned to net inflows in June; private markets AUM grew 20% year-over-year to $77 billion.
- Assets under management and administration reached a record $1.1 trillion, up 5% year-to-date.
- GAAP net loss was $349 million, impacted by notable items including a $74 million after-tax negative item in Protection Solutions.
- Non-GAAP operating earnings were $352 million or $1.10 per share, down 23% year-over-year on a per share basis.
- Wealth Management earnings increased 16% year-over-year with $2 billion of advisory net inflows and a 12% trailing 12-month organic growth rate.
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