- Efficiency ratio improved to 57.2%, reflecting disciplined expense management.
- Generated 530 basis points of positive operating leverage this quarter.
- Net revenue reached a quarterly record of $7.3 billion, driven by strong fee businesses and improved spread income.
- Non-performing assets ratio improved to 0.43%, and net charge-off ratio improved to 0.56%.
- Reported earnings per share of $1.22, an 18.4% increase year over year.
- Return on average assets was 1.17%, and net interest margin expanded to 2.75%.
- Tangible book value per share increased 12.7% year over year.
- Total average deposits increased 1.8% linked quarter to $512 billion; average loans grew 0.2% linked quarter.
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- 15 acquisitions completed in the quarter with estimated annual revenues of $22 million; 29 acquisitions year-to-date with $60 million annual revenues.
- Adjusted earnings per share grew over 10% to $1.03.
- Adjusted EBITDAC margin improved by 100 basis points to 36.7%.
- Brown & Brown delivered $1.3 billion in revenue for Q2, growing 9.1% total and 3.6% organically versus prior year.
- Cash flow from operations was $537 million, up $164 million over first half of 2024.
- Completed 15 acquisitions in the quarter with estimated annual revenues of $22 million; 29 acquisitions year-to-date with $60 million in annual revenues.
- Dividends paid per share increased 15.4% compared to prior year quarter.
- Generated $537 million cash flow from operations, up $164 million over first half of 2024.
- Programs segment grew 6.1% total revenues with 4.6% organic growth; EBITDAC margin expanded 320 basis points to 52.8%.
- Retail segment revenue grew 7.9% total with 3% organic growth; EBITDAC margin decreased 50 basis points to 27.5% due to seasonality.
- Weighted average shares increased by approximately 10 million due to equity issuance.
- Wholesale Brokerage segment revenues increased 14.5% total and 3.9% organically; EBITDAC margin increased 80 basis points to 34.1%.
- Client equity surpassed $750 billion, up 40% from last year, significantly outpacing the S&P 500's 16% growth.
- Commission revenue increased by 23% year-over-year, reaching a record $537 million in Q3 2025.
- Customer trading volumes rose 27% in options and 67% in equities, while futures volumes declined 7%.
- Execution and clearing costs decreased 21% year-over-year due to SEC fee reductions and improved smart order routing.
- Net interest income rose 21% to a quarterly record of $967 million despite lower benchmark interest rates.
- Pretax margin remained strong at 79%, consistent with prior periods.
- Total assets increased 35% year-over-year to $200 billion, supported by higher margin lending and segregated cash balances.
- Total net revenues grew 21%, driven by higher trading volumes in stocks and options.
- Commission revenue increased by 27% year-over-year to a record $516 million, with an additional $15 million in commission revenue lost due to the SEC fee rate reduction to zero mid-quarter.
- Customer credit balances rose 34% to a record $144 billion, and client equity increased 34% to $604 billion, outperforming the S&P 500's 11% quarterly gain.
- Dividend was increased from $1 per year to $1.28, adjusted for the four-for-one stock split completed in June.
- Execution, clearing, and distribution costs rose only 1% despite higher volumes, maintaining a gross transactional profit margin of 82%.
- Expenses were well controlled with a 5% staff increase and compensation expense ratio steady at 11% of adjusted net revenues.
- Net interest income reached a quarterly record of $860 million, including a one-time $26 million tax credit; adjusted net interest income was $834 million.
- Pretax income exceeded $1 billion for the third consecutive quarter, with a pretax profit margin of 75%, a record for the company.
- Total assets grew 33% year-over-year to $181 billion, driven by higher segregated cash balances and margin lending.
- Adjusted non-interest income increased 6% linked quarter, driven by record fee income in wealth management and capital markets excluding CBA.
- Adjusted pretax pre-provision income increased 4% year over year to $830 million.
- Average loans grew modestly, with year-to-date loan commitments increasing by approximately $2 billion.
- Net interest income was relatively stable quarter over quarter, with net interest margin declining six basis points.
- Reported strong quarterly earnings of $548 million, with adjusted earnings of $561 million or $0.63 per share.
- Return on tangible common equity was strong at 19%.
- Top quartile deposit growth and above peer median market share change per FDIC data.
- Total average deposits and accounts grew across consumer checking, small business, and wealth management.
- Net interest margin expanded by 15 basis points to 3.75%, supported by higher investment securities yields, higher loan yields, and lower funding costs.
- Noninterest income was $64.5 million, with operating noninterest income up 14% quarter-over-quarter due to strong core fee income growth.
- Operating EPS was $0.76, excluding merger and restructuring expenses, with an operating return on average tangible equity of 16.85%.
- Operating PPNR increased 14% from the first quarter to $242 million, reflecting rising earning asset yields and lower cost of interest-bearing liabilities.
- Provision for credit loss was $29 million, with allowance for credit losses robust at 1.17% of total loans.
- Second quarter operating results were up 14% from the year ago quarter, driven by profitability focus, balance sheet optimization, and operational efficiency initiatives.
- Total GAAP expenses were $278 million, with operating expenses flat at $269 million compared to Q1, reflecting offsetting changes in compensation, services, marketing, and amortization.
- Adjusted pretax pre-provision net revenue (PPNR) was $81 million, with an efficiency ratio improving to 53.3% on an adjusted basis.
- Allowance for loan losses increased to $185 million (1.5% of loans), reflecting acquisition-related provisions and organic loan growth.
- Net interest income increased 32.2% quarter-over-quarter to $147.2 million, driven by higher margin and portfolio additions.
- Net interest margin expanded 27 basis points to 3.95%, aided by Southern States' higher margin portfolios and purchase accounting accretion.
- Non-interest expense included $16.1 million merger-related costs; adjusted expenses increased due to combined operations but efficiency ratio improved.
- Non-interest income rose to $27.3 million adjusted, supported by mortgage banking, investment services, and fee income from Southern States.
- Reported EPS of $0.43 and adjusted EPS of $1.07 for Q3 2025, reflecting combined results post-merger with Southern States Bankshares.
- Return on average assets was 0.58% reported and 1.43% adjusted; return on tangible common equity was 5.82% reported and 14.7% adjusted.
- Banner called and repaid $100 million of subordinated notes, reducing funding costs.
- Banner Corporation reported a net profit available to common shareholders of $45.5 million or $1.31 per diluted share for Q2 2025, up from $1.15 per share in Q2 2024 and $1.30 in Q1 2025.
- Core earnings (pretax pre-provision excluding certain items) were $62 million in Q2 2025, compared to $52 million in Q2 2024.
- Loan losses were $1.7 million with recoveries of $600,000; net provision for credit losses was $4.8 million.
- Loans increased 5% year-over-year and 9% annualized in the quarter; core deposits increased 4% year-over-year and represented 89% of total deposits.
- Net interest income increased $3.3 million from prior quarter; net interest margin remained steady at 3.92%.
- Noninterest expense was stable with some increases offset by higher capitalized loan origination costs.
- Noninterest income decreased $1.4 million due to losses on asset disposals and fair value adjustments.
- Return on average assets was 1.13% for Q2 2025.
- Revenue from core operations was $163 million in Q2 2025 versus $150 million in Q2 2024.
- Strong capital ratios and tangible common equity per share increased 13% year-over-year.
- Adjusted pre-tax earnings were $28.4 million, with net income of $22.4 million or $1.17 per diluted share after tax adjustments.
- Asset quality remained stable with non-accrual loans at $48.6 million and classified assets at $82.8 million; net charge-offs annualized at 10 basis points.
- Loan portfolio grew with $665 million in loans added from NBC merger; loan production was $243 million, up 23% linked quarter at an average rate of 7.14%.
- Net interest income increased to $62.5 million, up $12.7 million linked quarter, driven by margin expansion and asset growth.
- Net interest margin improved by 28 basis points to 4.45%, with core margin normalized at 4.35%.
- Non-interest expenses were $49.1 million including M&A charges; adjusted non-interest expenses were $42.9 million, up 8.3% due to NBC acquisition.
- Non-interest income (excluding portfolio repositioning) was $8.9 million, up $300,000 from Q2, driven by customer service charges and integration of NBC franchise.
- Reported a net loss of $29.7 million or $1.57 per diluted share for Q3 2025, primarily due to a $53.4 million realized loss on bond portfolio repositioning and $6.2 million in M&A costs.
Dafinchi