- Adjusted EBITDA declined 5% and adjusted core EPS declined 7% due to a 100 basis point decrease in short-term rates impacting escrow earnings.
- Capital Markets segment revenues grew 46% year-over-year with net income up 200% to $33 million and adjusted EBITDA up 116% to $1.3 million.
- Cash balance ended at $234 million, supporting capital deployment and dividend payments.
- GAAP earnings per share rose 48% year-over-year to $0.99, driven by economies of scale and significant noncash mortgage servicing rights (MSRs) booked.
- No new loan defaults were recorded; credit quality remains strong with only 8 defaults in a $65 billion at-risk portfolio.
- Quarterly dividend increased to $0.67 per share, marking seven consecutive years of dividend growth.
- Servicing & Asset Management segment servicing fees increased 4% to $84 million, but total segment revenues declined 5% due to lower placement fees and investment management fees.
- Walker & Dunlop reported a 65% year-over-year increase in total transaction volume to $14 billion in Q2 2025, more than doubling from Q1 2025.
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- 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.
- Ameris Bancorp reported net income of $109.8 million or $1.60 per diluted share in Q2, a 21% increase year-over-year.
- Capital ratios strengthened with common equity Tier 1 at 13% and tangible common equity (TCE) ratio at 11.09%.
- Deposits increased slightly by $20 million, with noninterest-bearing deposits growing to 31% of total deposits.
- Loan growth was 6.5% annualized, driven mostly by commercial and industrial (C&I) loans, with total loan production at $1.9 billion.
- Provision for credit losses was $2.8 million, with asset quality improving across nonperforming assets, net charge-offs, and classified loans.
- Return on assets (ROA) improved to 1.65%, return on tangible common equity (ROTE) rose to 15.8%, and the efficiency ratio improved to 51.63%.
- Revenue grew at an annualized rate of 20.9%, outpacing expense growth, with net interest margin (NIM) expanding 4 basis points to 3.77%.
- Average base rent per leased square foot grew 5.3% year-over-year to $25.28.
- Bad debt for the quarter was just under 1% of revenues, consistent with prior year and within forecasted range.
- Debt-to-EBITDAre improved to 7.2x from 7.8x a year ago, with an expected year-end target of about 7x.
- G&A and interest expenses were reduced by about 6% compared to the prior year.
- Leasing spreads remained strong with straight-line leasing spreads of 17.9%, marking the 13th consecutive quarter above 17%.
- Occupancy increased 100 basis points sequentially from Q1 to 93.9%.
- Same-store NOI growth was 2.5% for the quarter and 3.9% for the 6 months, on track to meet the full-year target range of 3% to 4.5%.
- Whitestone REIT delivered core FFO per share of $0.26 for Q2 2025 and $0.51 for the first 6 months, representing a 5.4% and 5.6% year-over-year increase respectively.
- Fee income was $95 million for the quarter, fully recovering from losses last quarter, with management fees of $57 million and performance fees of $39 million.
- Gross premiums written were $3.4 billion, flat year-over-year, with net premiums written at $2.7 billion, also flat, but with shifts at the class of business level.
- Operating expense ratio was 5.2%, up about 1 point from last year, reflecting continued investment in the business.
- RenaissanceRe delivered a 24% operating return on equity this quarter and grew tangible book value per share by 10% year-to-date and over 20% over the past 12 months despite significant catastrophe losses and share repurchases.
- Retained net investment income was $286 million, slightly up from the first quarter, driven by growth in invested assets and a cautious but accretive investment approach.
- Share repurchases totaled $808 million year-to-date, with 3.3 million shares repurchased, demonstrating strong capital management and conviction in stock value.
- The new 15% Bermuda corporate income tax impacted results with a tax expense of $177 million and an effective tax rate on GAAP net income of 13%.
- Underwriting income was $602 million, up 26% from last year, with an adjusted combined ratio of 73%, reflecting low catastrophe losses and favorable development.
- Annualized recurring revenue (ARR) grew 9% to $2.9 billion.
- Capital Access Platforms revenue grew 9% with 6% ARR growth; Financial Technology revenue grew 10% with 11% ARR growth; Market Services net revenue grew 21%.
- Expenses increased just under 8%, primarily due to timing of annual compensation.
- Financial Crime Management Technology revenue grew 20% with 19% ARR growth; Regulatory Technology revenue grew 11% with 10% ARR growth; Capital Markets Technology revenue grew 8% with 9% ARR growth.
- Free cash flow was $467 million; dividends paid were $155 million; $400 million debt was paid down; share repurchases totaled $100 million.
- Gross leverage ratio improved to 3.2x, ahead of target milestones.
- Index revenue increased 17%, driven by a 25% increase in average ETP AUM to $663 billion.
- Nasdaq delivered $1.3 billion in net revenue, a 12% year-over-year increase, with Solutions revenues at $991 million, up 10%.
- Operating income was $721 million, up 16%, and EPS grew 24%.
- Operating margins improved: overall operating margin at 55%, EBITDA margin at 58%, Market Services margin at 63%, Financial Technology margin at 47%.
- Closed $2.3 billion in financing with a €1 billion raise at 3.5%, maintaining a low cost of debt at 3.2% with over eight years average maturity.
- Core FFO including net promote expense was $1.49 per share, excluding net promotes $1.50, both ahead of forecast.
- Energy business delivered 28 megawatts of solar generation and storage, progressing toward a one-gigawatt goal by year-end.
- Lease mark to market ended at 19%, capturing $75 million of NOI this quarter and $900 million as leases roll.
- Net effective rent change was 49% on a net effective basis and 29% on cash basis, highlighting durable lease mark to market.
- Record leasing quarter with nearly 62 million square feet signed, driving occupancy to 95.3%, up 20 basis points.
- Same-store net effective and cash NOI growth were 3.9% and 5.2%, respectively.
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