Earnings Feed

$542 million closed or under contract

Exceeded the upper end of initial $300 million to $500 million target, now raised to $650 million.

2.64%

The net interest margin of 2.64% in the second quarter was a modest decline of 6 basis points from the prior quarter, with a 2 basis point one-time negative impact due to early redemption of subordinated debt.

Net interest margin declined only 2 basis points to 3.5% despite a 96 basis point drop in SOFR over five quarters

The margin stability refutes the notion of an asset-sensitive balance sheet and reflects effective match funding strategies.

$198 million decline in criticized office loans

Total criticized and classified office loans declined from $302 million at March 31 to $113.1 million at September 30, showing strong progress in credit cleanup.