- Book value per share grew by an annualized 14% from last quarter and over 13% year-over-year, ending at $32.37 per share.
- Charge-offs totaled just over $9 million, resulting in an annualized net charge-off ratio of 27 basis points.
- Efficiency ratio improved to 35.22% from 36.90% a year ago; adjusted efficiency ratio was 33.31%.
- Net income grew 18% year-over-year, increasing by more than $9 million compared to Q3 2024.
- Net interest income was $133.4 million reported, $137.8 million normalized, with a net interest margin of 3.09% reported and 3.19% normalized.
- Normalized net income was $73.8 million or $1.35 EPS after adjusting for unique transactions.
- Reported net income of $65.6 million and diluted EPS of $1.20 for Q3 2025.
- Return on average assets was 1.47% and return on common equity was 14.9%.
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- Credit quality remains strong with nonperforming assets at 0.19% of total assets and net charge-offs at 3 basis points of loans.
- Deposits grew 4% annualized to $22 billion, with non-interest-bearing deposits increasing 5% annualized to 31% of total deposits.
- Loan portfolio grew by $258 million to $18.8 billion, a 6% annualized increase from prior quarter.
- Net income for Q3 2025 was $67.9 million or $0.57 per diluted share, up 29% from prior quarter and 33% year-over-year.
- Net interest income rose 9% sequentially to $225 million and 25% year-over-year.
- Net interest margin expanded to 3.39%, up 18 basis points sequentially and 56 basis points year-over-year, marking seven consecutive quarters of expansion.
- Non-interest expense increased 8% sequentially to $168 million, driven by acquisition-related costs.
- Pretax pre-provision net revenues for first nine months increased 45% to $250 million compared to prior year.
- 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.
- Adjusted non-GAAP earnings excluding significant variances were $469 million or $2.07 per share, an 18% increase in EPS over 2024.
- Life insurance sales were strong with record nonqualified sales, but pretax operating earnings declined due to higher mortality.
- Net cash flow was negative $2.6 billion in the quarter, an improvement sequentially driven by positive net cash flow from global institutional clients.
- Non-GAAP operating ROE, excluding AAR, was 14.9%, improving 170 basis points compared to the year-ago period.
- Principal Asset Management sales were $33 billion, up 19% over the prior year quarter.
- Reported non-GAAP operating earnings were $489 million, up 27% year over year, and EPS was $2.16, up 33%.
- Retirement Solutions sales were $6 billion, up 7% year over year.
- Revenue growth, strong margin and expense discipline supported results, alongside a lower effective tax rate and share repurchases.
- Second quarter reported net income excluding exited business was $432 million with minimal credit losses of $17 million.
- Specialty Benefits earnings grew 10% with margin expansion of 100 basis points.
- Total company managed AUM reached $753 billion, a 5% increase over the sequential quarter and 8% over 2024.
- Ameriprise reported adjusted operating EPS growth of 7% to $9.11 with a strong margin of 27%.
- Ameriprise returned 81% of operating earnings to shareholders in the quarter and plans to increase payout ratio to 85% for the second half of the year.
- Asset management operating earnings increased 2% to $222 million with margins at 39%.
- Free cash flow generation remains strong with a 90% free cash flow conversion rate across segments.
- Retirement and Protection Solutions earnings increased 9% to $214 million, driven by favorable life claims and strong interest earnings.
- Return on equity remains very strong at 52%, among the industry's best.
- The bank's total assets increased 6%, with good loan growth and spread earnings.
- Total revenues increased 4% driven by asset growth and strong transactional activity.
- Wealth management client assets grew 11% to a record $1.1 trillion, with wrap assets up 15%.
Dafinchi