- Average loans and leases increased $600 million to $135.4 billion, with growth in consumer and residential mortgage loans offsetting declines in CRE balances.
- CET1 ratio declined to 10.98% from 11.5% due to share repurchases and capital distributions but remains strong.
- Diluted GAAP EPS was $4.24, up from $3.32 in the prior quarter, with net income of $116 million compared to $584 million in the linked quarter.
- Net charge-offs were $108 million or 32 basis points, below full-year expectations, with criticized loans declining by $1 billion or 11%.
- Net interest income was $1.72 billion, up 1% from the prior quarter, with a net interest margin of 3.62%, down 4 basis points due to premium amortization and higher funding costs.
- Net operating income was $724 million, with diluted net operating EPS of $4.28, up from $3.38 in the prior quarter.
- Non-interest expenses decreased $79 million to $1.34 billion, resulting in an efficiency ratio of 55.2%, improved from 60.5% in the prior quarter.
- Non-interest income was $683 million, up from $611 million, driven by mortgage banking, trust income, and other revenues.
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- Consolidated net investment income increased 2% to $59.3 million due to higher portfolio yields.
- Diluted earnings per share increased to $1.93 from $1.91 year-over-year and $1.69 sequentially.
- Essent Group Ltd. reported net income of $195 million for Q2 2025, slightly down from $204 million a year ago.
- Essent Re's risk in force was $2.3 billion, supporting diversification and growth.
- Mortgage insurance in force grew 3% year-over-year to $247 billion with strong credit quality (weighted average FICO 746, original LTV 93%).
- Mortgage insurance net premium earned was $234 million, including $13.6 million from Essent Re third-party business.
- Operating expenses declined to $36.3 million with an expense ratio of 15.5%.
- Persistency remained stable at 86% for 12-months ending June 30, 2025.
- Provision for losses and loss adjustment expenses decreased to $15.4 million from $30.7 million in the prior quarter.
- Return on average equity was 14% annualized for the quarter.
- The company repurchased nearly 7 million shares year-to-date for approximately $390 million and declared a $0.31 dividend for Q3 2025.
- Adjusted net interest margin increased to 3.05%, up 13 basis points from prior quarter and 26 basis points year-over-year.
- Common equity Tier 1 capital ratio was 11.38% and risk-based capital ratio was 12.81%.
- Core deposit costs reported at 3.50% but adjusted to 3.57% excluding a legal matter reversal, expected to normalize around 3.57%.
- Net income for Q2 2025 was $61.4 million with diluted EPS of $1.12, representing an 18% increase from Q2 2024 but a 3% decrease from Q1 2025.
- Net interest income was $131.7 million reported, adjusted to $129.4 million after bond restructuring loss.
- Noninterest expense decreased $1.9 million from Q1 but increased 3% year-over-year, with efficiency ratio below 34%.
- Noninterest income declined due to bond portfolio restructuring but merchant services and treasury management fees are expected to grow.
- Pre-provision net revenue was $87.9 million.
- Provision expense increased significantly due to loan growth and charge-offs, maintaining allowance for credit losses ratio at 1.28%.
- Return on average assets was 1.40% and return on common equity was 14.56%.
- Tangible book value grew by an annualized 12.5% from last quarter and nearly 14% year-over-year, ending at $31.27 per share.
- Adjusted EBITDA increased by 128% or $66 million in the second quarter and more than doubled to $356 million in the first half.
- Adjusted EBITDA margin was 17% in the quarter and 23% year-to-date, an increase of nearly 500 basis points versus last year.
- Benefits and Insurance segment revenue was $102 million, up approximately 5%, with adjusted EBITDA up 21% and margin improving by 260 basis points.
- Financial Services segment revenue was $570 million, up approximately 84%, with adjusted EBITDA more than doubling to $111 million and margin improving by 250 basis points.
- Second quarter adjusted diluted earnings per share increased by 64% to $0.95 per share, and first half adjusted diluted earnings per share increased by 47% to $3.26 per share.
- Second quarter interest expense was higher by $22 million compared to last year, driven by higher outstanding debt associated with the acquisition.
- Second quarter revenue was $684 million, and first half revenue was $1.5 billion, a 63% and 66% increase, respectively, largely driven by the Marcum acquisition.
- Second quarter tax expense was $7 million higher than last year, with an effective tax rate lower by approximately 240 basis points compared to last year.
- Book value per diluted share, excluding AOCI, increased 6% to $38.05.
- Capital and liquidity remain strong with a consolidated RBC ratio of 378% and Holdco liquidity of $187 million.
- CNO delivered strong Q2 2025 results with operating earnings per diluted share of $0.87, benefiting from favorable insurance product margins and solid investment results.
- Net investment income grew 2% year-over-year, with average yield on allocated investments at 4.92%, up 11 basis points.
- Operating return on equity was 11.8% on a trailing 12-month basis and 11.2% excluding significant items, on track to meet 2025 and 3-year targets.
- Record total new annualized premiums reached $120 million, up 17%, with double-digit insurance sales growth in both Consumer and Worksite divisions.
- Share repurchases totaled $100 million in the quarter, reducing weighted average diluted shares outstanding by 8%.
- B2B segment revenue grew nearly 40%, driven by a significant BaaS partner and growth in the BaaS portfolio.
- Consumer Services segment revenue declined but active account declines moderated, with retail channel showing flat active accounts and slight increases in key metrics.
- Corporate segment revenues increased due to higher interest income from balance sheet optimization and bond repositioning.
- Green Dot reported a strong Q2 2025 with adjusted revenue up 24% year-over-year and adjusted EBITDA up 34%, both exceeding expectations.
- Money Movement segment saw tax business outperform expectations with profits up over 10%, while money processing revenue declined modestly due to lower transaction volumes but improved revenue per transaction.
- Non-GAAP EPS reached $0.40 per share, a 60% increase year-over-year.
- Overall segment margins were flat year-over-year, with margin improvements in direct channel offsetting retail declines.
- Rapid Employer Services revenue declined due to challenges in the staffing industry, but margin expanded by 45 basis points due to improved profitability.
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