Dafinchi AI

UNM

Financial Services

2w

Financial Performance Summary

Capital returned to shareholders totaled $650 million year-to-date, including $150 million in dividends and $500 million in share repurchases, with plans to repurchase shares toward the upper end of the $500 million to $1 billion range for 2025.
Closed Block segment earnings declined significantly to $3.9 million from $24.4 million due to unfavorable Long-Term Care (LTC) benefits experience, with the LTC net premium ratio rising to 94.9%.
Colonial Life segment increased adjusted operating income slightly to $117.4 million from $116.9 million, with premium growth of 3.6% and a benefit ratio of 48.3%, producing an ROE of 18.6%.
Core operations premium growth was 4.6% in the quarter, driven by strong persistency and natural growth within the in-force block, keeping the company on track for its full year premium growth outlook of 3% to 6%.
Group disability benefit ratio was 62.2%, higher than the prior year due to lower recoveries but still within the low 60s expected range, with a robust ROE in excess of 25%.
Group life and AD&D benefit ratio increased to 69.7% from 65.4%, driven by higher average claim size, consistent with expectations of around 70%.
Holding company cash ended the quarter at $2 billion with a risk-based capital ratio of approximately 485%, well above targets.
International segment showed solid premium growth of 12% on a constant currency basis, with adjusted operating income slightly down to $41.6 million from $42.5 million, impacted by inflation differences.
Investment income from alternative assets yielded 7% annualized, slightly below the long-term target of 8% to 10%, with total alternative invested assets valued at $1.5 billion.
Unum Group reported second quarter 2025 adjusted after-tax operating income per share of $2.07, down from $2.16 in the same period last year, reflecting earnings pressure mainly from claims experience in group products and the Closed Block.
Unum U.S. supplemental and voluntary lines saw adjusted operating income increase to $123.2 million from $115.2 million, with a benefit ratio of 44.3%, improved from 45.1% due to favorable benefits experience.

Provident Financial Services, Inc.

PFS

Financial Services

3w

Financial Performance Summary

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%.

Urban Edge Properties

UE

Financial Services

2w

Financial Performance Summary

Adjusted EBITDA to interest expense ratio increased to 3.7x, up nearly 30% from 2.9x a year ago.
FFO as adjusted for the quarter was $0.36 per share.
FFO as adjusted increased by 12% over last year and 8% year-to-date.
Liquidity remains strong with approximately $800 million total liquidity including $118 million in cash.
Net debt to annualized EBITDA was 5.5x in the second quarter.
Same-property net operating income (NOI) increased by 7.4% for the quarter and 5.6% year-to-date.
Same-property NOI growth was driven by higher rental revenue, net recoveries, and year-end CAM reconciliation billings.
Same-property occupancy increased to 96.7%, up 10 basis points from the prior quarter.
Shop occupancy rate reached a record high of 92.5%, up 270 basis points over the prior year.
Year-to-date asset sales totaled $66 million at a blended cap rate of 4.9%.

Live Oak Bancshares, Inc.

LOB

Financial Services

3w

Financial Performance Summary

Capital levels remained strong and stable, with 41% of assets in cash or government-guaranteed investments and a healthy Mahan Ratio of 16.5%.
Credit metrics improved with past dues low at $13 million (11 basis points), new defaults down to 40, and nonaccrual loans trending down to $69 million (63 basis points).
Customer deposits grew 6% linked quarter and are approximately 20% higher than June 30, 2024, with noninterest-bearing checking balances up 36% year-to-date.
Gain on sale revenue totaled approximately $22 million from $322 million of guaranteed loan sales at a 7% average premium.
Loan originations reached $1.5 billion, the largest Q2 in bank history excluding PPP, driving 3% linked quarter loan growth and 19% year-over-year loan balance increase.
Net interest income increased $9 million or 9% linked quarter, with net interest margin expanding 8 basis points for the third consecutive quarter.
Noninterest expense was $89 million, including $3 million of one-time expenses, with core recurring expenses up 3% linked quarter primarily due to growth.
Q2 earnings per share of $0.51, a 22% linked quarter increase in core operating leverage, and a 20% year-over-year revenue growth highlight strong financial results.

Ladder Capital Corp

LADR

Financial Services

3w

Financial Performance Summary

Adjusted leverage was modest at 1.6x as of quarter end, with total gross leverage at 1.9x, below the target range of 2x to 3x.
Declared and paid a $0.23 per share dividend; repurchased $6.6 million of common stock in Q2 with $93.4 million remaining in the repurchase program.
Ladder generated distributable earnings of $30.9 million or $0.23 per share in Q2 2025, achieving a return on equity of 7.7%.
Loan portfolio totaled $1.6 billion with a weighted average yield of approximately 9%, and 5 loans on nonaccrual totaling $162.3 million (3.6% of total assets).
Real estate portfolio of $936 million generated $15.1 million in net operating income, primarily from net lease properties with long-term leases to investment-grade tenants.
Securities portfolio was $2 billion, up 82% from year-end, with a weighted average yield of 5.9%, 99% investment-grade and 97% AAA rated.

World Acceptance Corporation

WRLD

Financial Services

3w

Financial Performance Summary

Customer base increased by 4% compared to last year's first quarter, the first positive growth in 3 years.
Dollars lent in new originations increased 12.8% year-over-year, in line with fiscal years 2019 and 2020.
First quarter is historically the lowest for earnings, making up an average of 5.6% of annual net income over the past 3 years.
Gross yields increased over 230 basis points year-over-year.
Ledger started the year down 4% year-over-year (~$50 million) and ended the quarter down about 80 basis points (~$10 million).
Net income since January 1, 2025, is around $45 million.
Refinance volume increased 10% year-over-year, and new originations increased 12.6%, the highest first quarter volume since fiscal 2020.
Stable first pay default rates and improving delinquency despite substantial growth.
The company completed a new credit agreement increasing commitments to $640 million, allowing stock repurchases up to 100% of net income, up from 50%.
The company is redeeming remaining bonds issued in 2021, with $170 million outstanding to be redeemed by end of August.