- In Q2 2025, Open Lending facilitated 26,522 certified loans, down from 28,963 in Q2 2024, reflecting tighter lending standards and targeted rate increases.
- Net income was $1 million in Q2 2025, down from $2.9 million in Q2 2024, and adjusted EBITDA was $4.1 million compared to $6.8 million in the prior year period.
- Operating expenses increased 9% year-over-year to $18.6 million, partly due to one-time severance charges, with further cost-saving measures planned for 2026.
- Profit share revenue per certified loan decreased to $289 in Q2 2025 from $552 in Q2 2024, reflecting a 72.5% loss ratio assumption and pricing adjustments.
- Program fee revenues were $14.9 million, profit share revenue was $8 million, and claims administration and other revenue totaled $2.4 million.
- The company repurchased approximately 2 million shares for $4 million in Q2 2025, with $21 million remaining in the repurchase program.
- Total revenue for Q2 2025 was $25.3 million, including an $8.3 million reduction in estimated profit share revenue from new originations compared to the prior year.
Explore Similar Insights
- Adjusted diluted EPS was $0.39 for the quarter.
- Declines were driven by lower U.S. agent count, broker fees, and revenue from previous acquisitions, partially offset by new revenue streams including RE/MAX Media Network and lead concierge initiatives.
- Revenue excluding marketing funds was $54.5 million, down 6.8% year-over-year due to negative organic growth of 5.7% and adverse foreign currency movements of 1.1%.
- Selling, operating, and administrative expenses decreased by $1 million or 2.8% to $33.9 million, primarily due to lower personnel expenses partially offset by severance and investments in flagship websites.
- Total leverage ratio was 3.58:1 as of June 30, consistent with March 31, with expectations to decrease in the second half of the year.
- Total revenue for Q2 2025 was $72.8 million, with adjusted EBITDA of $26.3 million and an adjusted EBITDA margin of 36.1%, up 30 basis points from Q2 2024.
- Credit quality remained strong with NPAs at 0.19% of total assets and net charge-offs at 0.01% annualized.
- Deposit growth was sound at 5% quarter-over-quarter annualized with noninterest-bearing deposits holding steady at 90% of total deposits.
- Loan growth was strong at a 13% annualized pace for Q2, slightly ahead of expectations.
- Net interest income expanded to $40.3 million, up $2.1 million from the prior quarter, driven by higher loan yields.
- Net interest margin increased to 3.29%, an 8 basis point improvement over the previous quarter.
- Operating expenses were $32.6 million, at the low end of guidance, with increases mainly from merit increases and incentive compensation.
- Operating noninterest income rose by $300,000 to $8.9 million, exceeding projections due to insurance, mortgage banking, and capital markets revenues.
- SmartFinancial posted net income GAAP and operating of $11.7 million or $0.69 per diluted share for Q2 2025.
- Tangible book value increased to $24.42 per share including AOCI impact, representing over 13% annualized quarter-over-quarter growth.
- Commercial loan growth was $114 million for the first 6 months of 2025, an annualized rate of 6.2%, despite $154 million in loan reductions primarily from asset sales.
- Deposit base increased 13% year-over-year, reducing the loan-to-deposit ratio from 107% to just under 100%.
- Effective tax rate was reduced to about 13% in Q2 2025 due to acquisition of transferable energy tax credits, lowering federal income tax expense by $1.5 million.
- Mortgage banking income increased 23.4% for the first 6 months of 2025 compared to the same period in 2024.
- Net income for Q2 2025 was $22.6 million or $1.39 per diluted share, up from $18.8 million or $1.17 per diluted share in Q2 2024.
- Net income for the first 6 months of 2025 was $42.2 million or $2.60 per diluted share, compared to $40.3 million or $2.50 per diluted share in the prior year period.
- Net interest income increased by $2.4 million in Q2 and $3.6 million in the first 6 months of 2025 compared to prior year periods.
- Net interest margin declined 14 basis points year-over-year in Q2 2025 but improved sequentially from Q1 2025.
- Noninterest expenses increased due to higher salary, benefits, data processing costs, and new product introductions.
- Provision expense was $1.6 million in Q2 and $3.7 million in the first 6 months, reflecting increased allocations for stressed loans and economic forecast changes.
- Balance sheet remains strong with an adjusted tangible equity ratio of 9.8%, up from 8.2% a year ago.
- Consumer Lending segment NIM was 232 basis points, down from 276 basis points in Q1, impacted by loans entering 91+ days delinquency and related accrued interest reserve adjustments.
- Delinquency rates increased: FFELP >90-day delinquency at 10.1%, consumer lending 91+ day delinquency rose to 3%, partly due to disaster forbearance roll-offs.
- Loan originations doubled year-over-year, with $443 million in refinance loans this quarter and over $1 billion in total originations year-to-date.
- Navient reported core earnings per share of $0.20 in Q2 2025, or $0.21 on a core basis after adjusting for regulatory and restructuring expenses.
- Net interest margin (NIM) for the Federal Education Loan segment was 70 basis points, exceeding guidance, with full year NIM expected between 55 and 65 basis points.
- Operating expenses declined by $82 million year-over-year to $100 million, driven by business sales and expense reduction initiatives.
- Provision expenses were elevated due to macroeconomic outlook deterioration, higher delinquency trends, and increased loan originations.
- Returned $40 million to shareholders via share repurchases and dividends; repurchased 1.9 million shares for $24 million.
- Allowance for credit loss was 160 basis points with an annualized net charge-off rate of 52 basis points.
- Approximately 604,000 shares were repurchased in the quarter at an average price of $74.49, totaling almost 1.9 million shares year-to-date.
- Liquidity remains strong with nearly $2.7 billion available, higher than last year.
- Loans and leases increased compared to last year, with commercial finance loan yields at 9.55% in the quarter versus 8.24% in the prior quarter.
- Net interest margin in the quarter was 7.43% and adjusted net interest margin was 5.98%, both expanded from last year's quarter.
- Noninterest income grew 11% from the prior year, driven by tax solutions, secondary market revenue, and card and deposit fees.
- Nonperforming loans increased due to three specific loans, including one related to fraud but well collateralized.
- Adjusted return on equity was 13.4%, with insurance in force increasing 1% year-over-year to $270 billion.
- Enact reported adjusted operating income of $174 million and adjusted earnings per diluted share of $1.15 for Q2 2025.
- Investment income was $66 million, up 5% sequentially and 10% year-over-year, with new money investment yield exceeding 5%.
- Loss ratio for the quarter was 10%, with losses of $25 million and a reserve release of $48 million driven by favorable cure performance.
- New insurance written was $13 billion, up 35% sequentially but down 3% year-over-year.
- Operating expenses were $53 million, flat year-over-year excluding restructuring charges, with an expense ratio of 22%.
- Persistency was 82%, down 2 points sequentially and 1 point year-over-year.
- Total net premiums earned were $245 million, flat sequentially and up modestly year-over-year.
- Allowance for credit losses was 10.35% of loan receivables, down 24 basis points from prior quarter.
- Capital ratios improved with CET1 at 13.7%, Tier 1 capital ratio at 14.9%, and total capital ratio at 17%.
- Efficiency ratio increased 140 basis points to 32.6% due to higher expenses and RSAs impact.
- Net earnings of $1.1 billion or $2.86 per diluted share in Q3 2025.
- Net interest income increased 2% to $4.7 billion, with net interest margin up 58 basis points to 15.62%.
- Provision for credit losses decreased by $451 million to $1.1 billion, driven by lower net charge-offs and reserve releases.
- Purchase volume grew 2% year-over-year to $46 billion across five platforms.
- Return on average assets was 3.6%, and return on tangible common equity was 30.6%.
- Europe accounted for $889 million or 76% of investment volume at a 7.3% weighted average initial cash yield, while U.S. investments totaled $282 million at a 7% yield.
- Net debt to annualized pro forma adjusted EBITDA was 5.5x, in line with the company’s leverage target.
- Portfolio occupancy ended at 98.6%, 10 basis points higher than the prior quarter and above the historical median of 98.2%.
- Realty Income invested $1.2 billion in Q2 2025 at a 7.2% weighted average initial cash yield, with acquisitions having a weighted average lease term of approximately 15.2 years.
- Rent recapture rate was 103.4% across 346 leases, generating $97 million of annual cash from prior rents.
- The company sold 73 properties for $117 million in net proceeds, with $100 million related to vacant properties.
- The company sourced $43 billion in investment opportunities in Q2, matching the total volume sourced in all of 2024 and marking the highest quarterly volume in its history.
- CET1 capital ratio was 10.7%, with adjusted CET1 including AOCI at 8.9%.
- Credit quality remained stable with nonperforming assets ratio at 0.44%, net charge-off ratio at 0.59%, and allowance for credit losses at 2.07% of loans.
- Generated 250 basis points of positive operating leverage year-over-year, marking the fourth consecutive quarter of revenue growth outpacing expense growth.
- Net interest margin declined 6 basis points sequentially, partly due to strategic loan sales and deposit pricing pressures.
- Reported Q2 2025 EPS of $1.11 on net income of $1.8 billion, with adjusted EPS growth of approximately 13% year-over-year.
- Return on tangible common equity was 18%, return on average assets was 1.08%, and efficiency ratio improved to the high-50s.
- Total average deposits decreased 0.7% linked quarter, average loans decreased 0.1% linked quarter due to loan sales, but C&I and credit card loans grew 7.1% and 4.4% year-over-year respectively.
- Total fee revenue grew 4.6% year-over-year, driven by diversified fee income businesses and organic growth.
Dafinchi