- Common stock repurchases doubled from Q2 to $6.1 billion, and dividend was increased.
- Credit quality improved with net loan charge-off ratio declining 9 basis points year-over-year and 4 basis points sequentially.
- Net income for Q3 2025 was $5.6 billion, up 9% year-over-year, with diluted earnings per share of $1.66.
- Net interest income increased $242 million (2%) from Q2, despite a 7 basis point decline in net interest margin due to growth in lower-yielding trading assets.
- Non-interest expense rose 6% year-over-year, driven by $296 million severance, higher revenue-related compensation, and increased technology and advertising spend.
- Non-interest income grew 9% year-over-year, led by wealth management and investment banking fee growth.
- Return on tangible common equity (ROTCE) improved to 15.2% in Q3, approaching the 15% target set in 2020.
- Revenue increased 5% from a year ago, driven by growth in net interest income and strong fee-based revenue.
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- Adjusted non-GAAP earnings excluding significant variances were $469 million or $2.07 per share, an 18% increase in EPS over 2024.
- Life insurance sales were strong with record nonqualified sales, but pretax operating earnings declined due to higher mortality.
- Net cash flow was negative $2.6 billion in the quarter, an improvement sequentially driven by positive net cash flow from global institutional clients.
- Non-GAAP operating ROE, excluding AAR, was 14.9%, improving 170 basis points compared to the year-ago period.
- Principal Asset Management sales were $33 billion, up 19% over the prior year quarter.
- Reported non-GAAP operating earnings were $489 million, up 27% year over year, and EPS was $2.16, up 33%.
- Retirement Solutions sales were $6 billion, up 7% year over year.
- Revenue growth, strong margin and expense discipline supported results, alongside a lower effective tax rate and share repurchases.
- Second quarter reported net income excluding exited business was $432 million with minimal credit losses of $17 million.
- Specialty Benefits earnings grew 10% with margin expansion of 100 basis points.
- Total company managed AUM reached $753 billion, a 5% increase over the sequential quarter and 8% over 2024.
- Adjusted compensation expenses were $372 million, up from $316 million last year, maintaining an adjusted compensation expense ratio of 61.5%.
- Adjusted earnings per share were $2.14, up 75% compared to the same quarter last year.
- Adjusted effective tax rate was negative 0.8% compared to 31.2% last year, due to a policy change excluding stock-based compensation vesting impact.
- Adjusted non-compensation expenses increased to $94 million from $80 million, with a non-compensation expense ratio steady at 15.6%.
- Corporate Finance revenues were $399 million, a 21% increase over last year's first quarter, with 125 transactions closed versus 116 last year.
- Financial and Valuation Advisory revenues were $79 million, a 16% increase from the prior year, with 957 fee events versus 847 last year.
- Financial Restructuring revenues were $128 million, a 9% increase year-over-year, with 35 transactions closed compared to 33 last year.
- Houlihan Lokey reported revenues of $605 million for the first quarter of fiscal year 2026, an 18% increase year-over-year.
- Other income and expense produced income of approximately $8 million versus $5 million last year, driven by increased interest and other income from investment securities.
- Adjusted earnings were approximately $66 million or $0.69 per diluted share.
- Adjusted efficiency ratio improved by about 7 percentage points.
- Adjusted loan yields decreased 1 basis point to 6.18%.
- Adjusted pre-provision net revenue was $103 million.
- Adjusted total cost of deposits decreased 18 basis points to 2.04%.
- Allowance for credit losses (ACL) as a percentage of total loans increased 1 basis point to 1.57%.
- Capital ratios remain well above regulatory minimums.
- Core net interest margin expanded from 3.42% to 3.58%.
- Deposits increased by $361 million or 7% quarter-over-quarter.
- Loans increased by $312 million or 7% quarter-over-quarter.
- Net charge-offs were $12.1 million, mainly from two credits.
- Noninterest expense was $183.2 million, excluding $20.5 million merger/conversion expenses, core expense was $162.7 million.
- Noninterest income was $48.3 million, up $11.9 million linked quarter, driven by The First and mortgage division.
- Reported earnings were $1 million or $0.01 per diluted share for Q2 2025.
- Reported margin rose from 3.45% to 3.85% reflecting purchase accounting adjustments.
- Capital ratios remained strong with Tier 1 capital at 14.2% and total risk-based capital at 15.2%.
- Cost of deposits remained stable at 160 basis points, down 21 basis points year-over-year, with a beta of 29%.
- Cost of deposits remained stable at 160 basis points quarter-over-quarter and declined 21 basis points year-over-year.
- Dividends of $0.70 per common share were declared for the third quarter, with $28 million paid on common stock and $5.3 million on preferreds during the quarter.
- Dividends of $28 million on common stock and $5.3 million on preferred stock were paid; no share repurchases during the quarter.
- Earnings per share increased for the fourth consecutive quarter, reaching $1.06, driven by net interest income and margin expansion.
- Net income for Q2 2025 was $47.6 million with diluted EPS of $1.06, up $3.7 million and $0.09 respectively from the prior quarter.
- Net income for the quarter was $47.6 million, up $3.7 million from the previous quarter.
- Net interest income and net interest margin expanded for the fifth consecutive quarter, with NII increasing by $3.9 million and NIM by 7 basis points.
- Net interest income increased by $3.9 million and net interest margin expanded by 7 basis points, marking the fifth consecutive quarter of growth.
- Noninterest expense was $110.8 million, including a $1.4 million severance charge; excluding special items, expenses decreased by $600,000 from the prior quarter.
- Noninterest income increased slightly to $44.8 million, including a one-time gain of $800,000 from a BOLI recovery.
- Noninterest income was $44.8 million, including a one-time gain of $800,000 from a BOLI recovery.
- Provision for credit losses was $3.3 million; effective tax rate was 21.2%, expected full-year rate between 21% and 22%.
- Provision for credit losses was $3.3 million; effective tax rate was 21.2%, expected to be between 21% and 22% for the full year.
- 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.
- Adjusted net income for the quarter was $25.9 million or $0.18 per share, excluding $2 million of acquisition-related costs and miscellaneous items.
- Assets under management (AUM) reached a record $126 billion at June 30, with U.S.-listed AUM at $85.2 billion and European AUM at $40.5 billion, both all-time highs.
- Digital assets AUM more than doubled since last quarter, reaching $350 million at quarter-end and approximately $500 million currently.
- WisdomTree reported revenues of $112.6 million for Q2 2025, up 4.2% sequentially and 5.2% year-over-year, driven by higher average AUM.
- Year-to-date inflows totaled $6.6 billion, with broad and diverse contributions across U.S., Europe, and digital assets.
- Year-to-date revenues grew 8.3%, supported by higher average AUM and increased other revenues from European listed products, partially offset by a lower average fee capture.
- ConnectOne's assets now stand at nearly $14 billion, with $11.2 billion in loans and $11.3 billion of deposits, and a market capitalization exceeding $1.2 billion.
- Core deposit growth was strong, including gains in DTA balances from both existing and newly acquired relationships.
- Loan-to-deposit ratio improved to 99% at the end of Q2, down from 106% as of March 31.
- Loan-to-deposit ratio improved to just below 100%, with expectations to operate around that threshold going forward.
- Net interest margin was 3.06% in Q2, with expectations to increase to about 3.25% by year-end and continue expanding through 2026.
- Noninterest-bearing demand deposits increased by more than $100 million since March 31, approximately 15% annualized.
- Nonperforming asset ratio improved to 0.28% from 0.51% a year ago, and charge-offs remained reasonable at 22 basis points.
- Provision for credit losses was $35.7 million in Q2, including a $27.4 million day 1 provision from the merger and an $8.3 million operating provision, higher than usual due to merger-related adjustments.
- Tangible common equity ratio stands above 8% at 8.1%, with the bank CET ratio above 12%, slightly down due to the acquisition.
- Total deposits were up an annualized 8%, with true core balances increasing by more than $500 million or 17% annualized after factoring in a $200 million decline in brokered deposits.
- Capital ratios increased quarter-over-quarter and the company remains well capitalized by all measures.
- Cost of deposits declined by 12 basis points to 2.01%, and loan yields were impacted by lower purchase loan accretion.
- Efficiency ratio improved to 58.7% in Q2 2025 from 60.5% in Q1 2025, excluding merger-related expenses.
- Fee income increased by $1.3 million quarter-over-quarter, representing 21% of operating revenue, led by wealth management fees.
- GAAP earnings were strong despite lingering merger-related expenses, with core earnings increasing.
- Net interest margin (NIM) increased to 4.07% in Q2 2025 from 4.00% in Q1 2025, with potential for further upside.
- Noninterest expense declined by approximately $600,000 in the quarter, including merger-related expenses and severance costs.
- Normalized EPS reached 1.04, adjusted ROA was 1.51%, and adjusted ROE was 15.1%, placing the company near the top of its peer group.
- Return on average assets was 1.51% and return on average equity was 15.12% for Q2 2025, up from 1.45% and 14.97% in Q1 2025 respectively.
- Total loans grew to $3.93 billion with commercial loans growing 2% annualized; deposits declined by $117 million.
Dafinchi