- Adjusted EBITDA was a record $249 million, up 81% year-over-year, with a margin of 29% and incremental EBITDA margin of 43%.
- Fee-based revenue hit a quarterly record of $378 million, up 72% year-over-year, now generating over $1.5 billion annually.
- Financial Services and Technology Platform segments generated $472 million in revenue, up 74% year-over-year, representing 55% of total revenue.
- Lending segment adjusted net revenue grew 32% year-over-year to $447 million, driven by $6.3 billion in originations, up 18%.
- Loan Platform Business originations reached a record $2.4 billion, contributing to total originations of $8.8 billion, up $1.5 billion from last quarter.
- Net income was $97 million with an 11% margin and earnings per share of $0.08.
- Net interest margin was 5.86%, down 15 basis points sequentially, with deposits growing to $29.5 billion.
- SoFi reported record adjusted net revenue of $858 million for Q2 2025, up 44% year-over-year.
- Tangible book value increased over $1 billion year-over-year to $5.3 billion, with a $200 million increase quarter-over-quarter.
- Total members increased 34% year-over-year to 11.7 million, with 850,000 new members added in Q2.
- Total products grew 34% year-over-year to over 17 million, with 1.3 million new products added in the quarter.
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- Average loans decreased 1% to $17.7 billion due to macroeconomic challenges and elevated gross credit losses impacting loan growth.
- Bread Financial reported adjusted net income of $149 million and adjusted EPS of $3.15 for Q2 2025, excluding $10 million post-tax debt repurchase expenses.
- Credit reserve rate improved to 11.9%, a 30 basis point improvement year-over-year and sequentially.
- Credit sales grew 4% year-over-year to $6.8 billion, driven by new partner growth and higher general purpose spending.
- Delinquency rate improved to 5.7%, down 30 basis points year-over-year; net loss rate improved to 7.9%, down 70 basis points year-over-year despite hurricane impacts.
- Direct-to-consumer deposits grew 12% year-over-year to $8.1 billion, accounting for 45% of average total funding, improving funding mix.
- Net interest income decreased 1% year-over-year due to lower billed late fees and a shift in risk and product mix, partially offset by lower interest expense and pricing changes.
- Net interest margin was 17.7%, down 30 basis points year-over-year, impacted by elevated cash mix and lower loan yields.
- Noninterest income increased $3 million, mainly from paper statement pricing changes, offset by lower net interchange revenue.
- Return on average tangible common equity was 22.7% for the quarter.
- Revenue was $929 million, down 1% year-over-year, primarily due to lower finance charges and late fees, partially offset by lower interest expense.
- Total noninterest expenses increased 3% year-over-year to $12 million higher, mainly due to $13 million debt extinguishment costs; adjusted expenses were nearly flat.
- Annualized return on average assets was 1.19%, and adjusted return on average tangible equity was 16.79%.
- Commercial loan portfolio grew at an annualized rate of 8%, with $764 million in new loans closed during the quarter.
- Deposits increased by $260 million with an annualized growth rate of 5.6%, and average cost of total deposits decreased to 2.1%.
- Net charge-offs decreased to $1.2 million or 3 basis points of average loans, reflecting strong credit quality.
- Noninterest expenses were $114.6 million with an efficiency ratio improving to 53.5% and annualized expenses to average assets at 1.89%.
- Noninterest income remained steady at $27 million, driven by core banking fees, insurance, wealth management, and SBA loan sales.
- Nonperforming assets declined to 44 basis points of total assets, and delinquencies and classified loans also decreased.
- Pretax pre-provision return on average assets was 1.64%, improving from the prior quarter and last year.
- Provident Financial Services reported net earnings of $72 million or $0.55 per share for the second quarter.
- Tangible book value per share grew $0.45 to $14.60, and tangible common equity ratio expanded to 8.03%.
- Credit quality remains stable with good trends in classified loans, past dues, and no new significant nonperforming loans beyond previously disclosed large credits.
- Loan production and pipeline remain strong despite some headwinds from elevated payoffs and competitive loan pricing.
- Net interest income (NII) and expenses both beat expectations in Q2 2025, contributing positively to financial results.
- Net interest margin (NIM) reached and exceeded the 3% level ahead of schedule, driven primarily by loan repricing and deposit remixing.
Dafinchi