Dafinchi AI

ORI

Financial Services

Book value per share increased over 12.6% to $25.14, driven by strong operating earnings and higher investment valuations.
Favorable prior year loss reserve development continued, benefiting the consolidated loss ratio by 2.1 percentage points.
Net investment income increased 2.4% due to higher bond yields despite a lower invested asset base after a $500 million special dividend.
Net operating income was $209 million for the quarter, up from $202 million last year, with earnings per share increasing 9% to $0.83 from $0.76.
Old Republic International produced $267.5 million of consolidated pretax operating income in Q2 2025, up from $253.8 million in Q2 2024.
Regular cash dividends of $71 million were paid, with minimal share repurchases during the quarter.
Specialty Insurance net premiums earned grew 14.6% with pretax operating income of $253.7 million, up from $202.5 million last year, and a combined ratio improvement to 90.7 from 92.4.
The consolidated combined ratio was 93.6 compared to 93.5 in the prior year quarter.
Title Insurance premiums and fees earned grew 5.2% to $698 million, but pretax operating income declined to $24.2 million from $46 million, with the combined ratio rising to 99 from 95.4.

OCFC

Financial Services

A quarterly cash dividend of $0.20 per common share was approved, marking the 114th consecutive quarterly dividend.
Asset quality remained strong with classified loans decreasing 3% to $145 million or 1.4% of total loans.
Capital levels remained robust with a common equity Tier 1 capital ratio of 11% and tangible book value per share of $19.34.
Commercial and industrial loans increased 8% for the quarter.
Earnings per share were $0.28 on a fully diluted GAAP basis and $0.31 on a core basis for Q2 2025.
Net charge-offs were $2.2 million, primarily from two commercial credits and a small sale of nonperforming residential loans.
Net interest income grew by $1 million with net interest margin expanding by 1 basis point.
Operating expenses were $71 million, in line with expectations and previous guidance.
The company repurchased 1 million shares at a weighted average cost of $17.17 and redeemed $57 million of preferred stock.
Total loans increased by $60 million, representing a 2% annualized growth rate, driven by strong originations of $716 million.

FBRT

Financial Services

Average cost of debt on core portfolio was SOFR plus 2.3%.
Book value ended the quarter at $14.82 per fully converted share.
Distributable earnings were $29 million or $0.27 per fully converted share.
FBRT delivered economic returns of 6.6% over 12 months and 11.9% over 24 months, placing it at the top of its peer group.
FBRT reported GAAP earnings of $24.4 million or $0.21 per fully converted common share for Q2 2025.
Net leverage position was 2.2x with recourse leverage at 0.3x.
NewPoint acquisition expected to contribute GAAP net income between $23 million and $27 million and distributable earnings between $13 million and $17 million for 2025.
NewPoint's MSR portfolio valued at approximately $217 million with an implied life of 6.8 years.
The Board maintained the Q2 dividend at $0.355 per share.

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