Adjusted noninterest expense rose 1% sequentially and 3% year-over-year, with disciplined expense control and higher employment costs.
Adjusted noninterest revenue increased 12% sequentially and 3% year-over-year, driven by capital markets fees rebound and wealth management income growth.
Adjusted pre-provision net revenue rose 5% sequentially and 7% year-over-year.
Capital ratios strengthened, with CET1 ratio at 10.91%, the highest in company history, supported by earnings and share repurchases.
Core deposits declined 2% sequentially, driven by public funds and broker deposits, but deposit costs improved with a 4 basis point decline in average cost of deposits to 2.22%.
Credit quality improved with net charge-offs at $18 million (17 basis points), better than guidance, and nonperforming loans decreased to 0.59% of total loans.
Loan balances increased by $888 million or 2% sequentially, with strong growth in high-growth verticals and specialty lending.
Net interest margin expanded modestly to 3.37%, with net interest income growing 6% year-over-year.
Synovus reported GAAP and adjusted earnings per share of $1.48, a 14% increase from the first quarter and 28% year-over-year.
After-tax net investment income was $101 million, generating 13 points of ROE, up 50 basis points from Q2 2024.
Book value per share increased 9% in the first half of 2025, driven by profitability and reduced after-tax net unrealized fixed income security losses.
Excess and Surplus lines grew 9% with a combined ratio of 89.8%, while Personal Lines combined ratio improved to 91.6%, 26.5 points better than a year ago.
Expense ratio increased by 60 basis points due to higher expected employee compensation after lower profit-based payouts last year.
Fully diluted EPS was $1.36 and non-GAAP operating EPS was $1.31 for the quarter.
Insurance segments grew 5%, with combined ratios at or below the 95% long-term target for Excess and Surplus and Personal Lines.
Selective Insurance Group delivered an operating return on equity of 10.3% in Q2 2025 with investment income increasing 18% year-over-year.
Standard Commercial Lines reported a combined ratio of 102.8%, including 4.8 points of unfavorable prior year casualty development.
The GAAP combined ratio was elevated primarily due to prior year casualty reserve development; catastrophe losses were 6.7%, better than anticipated.
The overall combined ratio for the quarter was 100.2%, impacted by 3.8 points of unfavorable prior year casualty reserve development and 6 points of catastrophe losses.
Underlying combined ratio improved 170 basis points year-over-year to 89.7% for the quarter.
Interest and fee income on client balances decreased 11% year-over-year due to lower short-term interest rates but increased modestly sequentially.
Net operating revenues increased 4% year-over-year, driven by growth in securities, payments, and FX CFDs, offset by declines in physical contracts, listed and OTC derivatives.
Segment performance varied: Commercial segment revenues declined 24% with segment income down 36%, Institutional segment achieved record revenues and income growth of 27% and 41%, respectively, and Self-directed retail segment revenues and income increased 18% and 49%.
StoneX reported Q3 fiscal 2025 net income of $63.4 million with diluted EPS of $1.22, reflecting 2% net income growth but a 2% decline in EPS due to increased shares outstanding.
Trailing 12-month results showed operating revenues up 17%, net income up 26% to $296.9 million, EPS of $5.87, and return on equity of 16.6%, exceeding the 15% target.
Dafinchi