- Allowance for credit losses ratio increased to 1.50% due to a single $24 million CRE office loan moving to nonaccrual, significantly increasing quarterly credit loss expense.
- Loan growth was solid at 7.4%, with commercial loan production of $215 million, the highest in the last 6 quarters.
- MidWestOne reported net income of $10 million or $0.48 per diluted common share for Q2 2025.
- Net interest income increased by $2.5 million to $50 million compared to the linked quarter, driven by higher earning asset volumes and yields and lower funding costs.
- Noninterest income was $10.2 million, slightly up from $10.1 million in the linked quarter, driven by wealth management, card revenue, mortgage origination fees, and SBA gain on sale revenue.
- Outside the single loan, asset quality improved with a 32 basis point decrease in criticized asset ratio and net charge-offs of only 2 basis points.
- Tax equivalent net interest margin and core net interest margin both expanded 13 basis points to 3.57% and 3.49%, respectively.
- Total noninterest expense was $35.8 million, a decrease of $0.5 million from the linked quarter, helped by $1.1 million in tax credit funds and a $200,000 decrease in core data processing expense.
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- Allowance for credit losses ended at $156.2 million or 2.14% of total loans, down 24 basis points from prior quarter.
- Net interest income grew to $68.2 million, up $383,000 sequentially, with NIM expanding 6 basis points to 2.43%.
- Noninterest expense declined $1.6 million to $41.9 million due to lower FDIC assessments and disciplined cost management.
- Noninterest income decreased to $2.5 million from $6.4 million, impacted by $3.6 million loan loss sales and $2 million loss on sale of investments.
- Nonperforming loans declined from $226.4 million to $118.6 million, a $108 million improvement quarter-over-quarter.
- Pre-provision net revenue was $28.8 million, down from prior quarter, but adjusted PP&R was $32.3 million reflecting core franchise strength.
- Reported a net loss of $67.5 million or $2.22 per share, slightly improved from $69.8 million loss or $2.30 per share last quarter.
- Tangible common equity to tangible assets ratio stood at 10.39%, with Tier 1 leverage ratio at 10.4% and CET1 at 13.58%.
- Book value per share grew 2%, tangible book value per share improved 4%.
- Diluted earnings per share of $0.83 for Q3 2025, improved compared to the linked quarter.
- Excluding accretion income, net interest margin expanded 5 basis points, marking the fifth straight quarter of core margin expansion.
- Net interest income increased nearly $4 million with net interest margin expanding by 1 basis point.
- Noninterest expenses declined 1%, improving efficiency ratio to 57.1% from 59.3%.
- Provision for credit losses declined over 50%, driven by net charge-offs, loan growth, and economic forecast adjustments.
- Quarterly net charge-off rate decreased by 2 basis points to 41 basis points annualized.
- Tangible equity to tangible assets ratio improved 27 basis points to 8.5%.
- Book value per share decreased to a negative $43.14 as of June 30, 2025, from a negative $40.99 at year-end 2024, mainly due to the consolidated net loss for the first six months of 2025.
- MBIA Insurance Corp. reported statutory net income of $4 million in Q2 2025 compared to a statutory net loss of $35 million in Q2 2024.
- MBIA reported a consolidated GAAP net loss of $56 million for Q2 2025, a significant improvement from a $254 million net loss in Q2 2024.
- National reported statutory net income of $6 million in Q2 2025 versus a statutory net loss of $131 million in Q2 2024.
- The adjusted net loss was $8 million for Q2 2025 compared to $138 million in Q2 2024, primarily due to lower losses in Loss Adjustment Expenses (LAE) at National related to PREPA exposure.
- NBT Bancorp reported net income of $22.5 million or $0.44 per diluted common share for Q2 2025.
- Net interest margin increased 15 basis points to 3.59%, with net interest income at $124.2 million, up $17 million from the prior quarter.
- Noninterest income, excluding securities gains, was $46.8 million, down 1.5% sequentially but up 8% year-over-year.
- Operating earnings per share, excluding acquisition expenses and related items, were $0.88, up $0.08 from the prior quarter.
- Provision for loan losses was $17.8 million, up from $7.6 million in Q1 2025, driven by $13 million acquisition-related provision and a modest economic forecast deterioration.
- Revenues grew approximately 10.5% from the prior quarter and 22% year-over-year, driven by net interest income improvements and the Evans merger.
- Tangible book value per share was $24.57, 9% higher than a year ago, with a tangible equity ratio above pre-merger levels.
- Total operating expenses, excluding acquisition costs, were $105.4 million, a 6.3% increase from the prior quarter, mainly due to Evans acquisition and merit pay increases.
- Capital ratios remain strong with tangible common equity (TCE) at 10.01% and common equity Tier 1 ratio at 14.08%.
- Deposits declined by $387 million due to seasonal public fund activity; interest-bearing deposits decreased by $269 million.
- Efficiency ratio improved to 54.1% from 54.91% last quarter, and year-to-date efficiency ratio is nearly 100 basis points better than last year.
- Fee income grew 8% quarter-over-quarter to $106 million, driven by record insurance and annuity fees.
- Loans grew $135 million or 2% annualized, with strong loan production up 6% quarter-over-quarter and 46% year-over-year.
- Net interest income (NII) increased by $3 million or 1% quarter-over-quarter, with a stable net interest margin (NIM) at 3.49%.
- Non-accrual loans increased modestly to $114 million; net charge-offs decreased to 19 basis points.
- Return on Assets (ROA) improved to 1.46% from 1.32% a year ago, reflecting profitability improvement.
- Adjusted efficiency ratio improved by 90 basis points to 56.7%.
- Adjusted net income from continuing operations increased to $137.5 million or $0.73 per share.
- Adjusted noninterest expense increased $11.7 million, mainly due to First Chatham acquisition, business growth, and legal costs.
- Adjusted noninterest revenue increased $13 million or 15%, driven by mortgage originations, MSR valuation, wealth management, and other fees.
- Adjusted ROA was 1.14% for the quarter.
- Allowance for credit loss coverage remained flat at 1.34%.
- Core customer deposits increased at a 4.4% annualized rate, with growth mainly in noninterest-bearing deposits.
- Loan yields were 6.34%, up 1 basis point from the first quarter; new and renewed loans came in at just over 7%.
- Net charge-offs were $21 million or 24 basis points annualized, consistent with expectations.
- Net charge-offs were 24 basis points annualized for the quarter, down slightly from the first quarter.
- Net interest margin declined 6 basis points to 3.40%, but excluding securities impact, NIM increased 2 basis points.
- Net interest revenue increased $15 million or 4%, driven by loan growth and added securities.
- Organic loan growth was $1.1 billion for the quarter or 12.6% annualized.
- Pretax pre-provision net revenue increased to an all-time high of $206 million, up over 8% from the prior quarter.
- Regulatory capital levels remained strong with CET1 of 12.2%.
- Tangible book value increased to $22.94 per share.
- Total adjusted revenue was $476 million, an increase of $28 million or 6%.
- Total cost of deposits improved by 5 basis points to 2.30%; time deposit costs improved by 12 basis points.
- Adjusted net income was $587 million, driven by positive operating leverage and net revenue growth.
- Deposits grew by $3.3 billion or 2% sequentially, marking the 7th consecutive quarter of deposit growth.
- Loans increased by $3.5 billion or 2.5% sequentially, led by Global Fund Banking in SVB Commercial segment.
- Net charge-offs increased to $234 million (65 basis points), including an $82 million charge-off related to First Brands bankruptcy.
- Net interest income grew 2.3% sequentially, with headline NIM stable at 3.26%.
- Reported adjusted earnings per share of $44.62, adjusted ROE of 10.62%, and adjusted ROA of 1.01%.
- Tangible book value per share increased approximately 8% year-over-year and 2% sequentially despite $900 million in share repurchases during the quarter.
Dafinchi