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Wintrust Financial Corporation

WTFC

2025 Q2

Financial Services

3mo

Financial Performance Summary

Credit quality remained strong with stable nonperforming loans and charge-offs at 11 basis points, unchanged from Q1.
Deposit growth was strong at over $2 billion, with total assets growing to $69 billion including a $425 million preferred stock offering.
Net interest income reached a quarterly record of $547 million, driven by $2.3 billion loan growth in Q2.
Net interest margin remained stable at 3.54%, within the target range.
Noninterest expenses rose by $15.4 million to $381.5 million, primarily due to higher salaries, benefits, and marketing expenses.
Noninterest income increased by $7.5 million to $124.1 million, driven by mortgage banking and wealth management revenue growth.
Tangible book value per share continued to grow, maintaining a consistent upward trend since becoming public.
Wintrust reported record quarterly net income of $195.5 million, up from $189 million last quarter.

Old National Bancorp

ONB

2025 Q2

Financial Services

3mo

Financial Performance Summary

Adjusted non-interest expenses were $344 million, reflecting two months of Bremer operations, with positive operating leverage year over year.
Adjusted non-interest income was $112 million, reflecting growth in wealth, mortgage, and capital markets.
CET1 ratio was 10.74%, approximately 50 basis points higher than expected post-Bremer close.
CET1 ratio was better than expected at 10.74%, about 50 basis points higher than modeled post-Bremer.
Criticized and classified loans decreased by approximately 9% excluding Bremer, and allowance for credit losses improved by 8 basis points to 1.24%.
Loan growth excluding Bremer was 3.7% annualized from last quarter, in line with guidance, with strong commercial and C&I loan production.
Loan growth excluding Bremer was 3.7% annualized from last quarter, in line with guidance, with strong commercial and industrial loan production.
Net charge-offs were 24 basis points, or 21 basis points excluding charge-offs on PCD loans, with non-accrual loans declining 5 basis points during the quarter.
Net interest income and margin increased driven by Bremer, organic loan growth, and securities portfolio repositioning.
Old National reported GAAP 2Q earnings per share of $0.34, with adjusted EPS of $0.53 excluding $0.19 of net merger-related expenses, representing an 18% increase over the prior quarter and 15% year over year.
Tangible book value per share increased by 14% year over year despite the impact of the Bremer partnership.
Total deposits increased by $13.3 billion, with core deposits ex-brokered up $11.6 billion.

Old National Bancorp

ONB

2025 Q3

Financial Services

Financial Performance Summary

Achieved a 20% return on average tangible common equity and over 1.3% return on assets.
Capital ratios strengthened with CET1 over 11%, increasing 28 basis points quarter-over-quarter.
Core deposits grew 5.8% annualized excluding brokered deposits, with non-interest bearing deposits at 24% of core deposits.
Credit metrics improved with a 6% reduction in criticized and classified loans and normalized charge-offs at 25 basis points.
Efficiency ratio improved to below 50%, specifically a low 48% adjusted efficiency ratio.
Reported GAAP earnings per share of $0.46 and adjusted EPS of $0.59, an 11% increase over prior quarter and 28% year-over-year growth.
Tangible book value per share grew 4% linked quarter and 10% year-over-year.

Franklin Resources, Inc.

BEN

2025 Q3

Financial Services

2mo

Financial Performance Summary

Adjusted operating income was $378 million, flat from prior quarter, driven by lower compensation expenses offset by Western outflows and lower average AUM.
Assets under management ended the quarter at $1.61 trillion, increased from the prior quarter due to positive markets and strengthening flows, partially offset by long-term outflows at Western Asset Management.
Equity net outflows were $645 million, impacted by market volatility affecting growth strategies; positive net flows into large cap value, international, and emerging market strategies.
Fixed income net outflows improved to $1.3 billion; excluding Western, fixed income net inflows were $3.5 billion, driven by Franklin Templeton Fixed Income and Brandywine Global.
Institutional pipeline of 1 but unfunded mandates rose by net $4 billion to a record $24.4 billion, including $14.8 billion in new wins across all asset classes and multiple regions.
Long-term net outflows totaled $9.3 billion, an improvement from the prior quarter's $26.2 billion outflows; excluding Western Asset Management, long-term net inflows were $7.8 billion this quarter.
Multi-asset and alternatives generated combined $4.3 billion in positive net flows; multi-asset flows have been positive for 16 consecutive quarters.
Over half of mutual fund AUM outperformed peer median across 3-, 5-, and 10-year periods; mutual fund investment performance increased in 3-, 5-, and 10-year periods but declined in 1-year period due to a large yield fund.
Western net outflows moderated to the lowest since September 2024; money market balances grew with cash management net inflows for 4 of the last 5 quarters, increasing cash management AUM to $72 billion.

Bread Financial Holdings, Inc.

BFH

2025 Q2

Financial Services

3mo

Financial Performance Summary

Average loans decreased 1% to $17.7 billion due to macroeconomic challenges and elevated gross credit losses impacting loan growth.
Bread Financial reported adjusted net income of $149 million and adjusted EPS of $3.15 for Q2 2025, excluding $10 million post-tax debt repurchase expenses.
Credit reserve rate improved to 11.9%, a 30 basis point improvement year-over-year and sequentially.
Credit sales grew 4% year-over-year to $6.8 billion, driven by new partner growth and higher general purpose spending.
Delinquency rate improved to 5.7%, down 30 basis points year-over-year; net loss rate improved to 7.9%, down 70 basis points year-over-year despite hurricane impacts.
Direct-to-consumer deposits grew 12% year-over-year to $8.1 billion, accounting for 45% of average total funding, improving funding mix.
Net interest income decreased 1% year-over-year due to lower billed late fees and a shift in risk and product mix, partially offset by lower interest expense and pricing changes.
Net interest margin was 17.7%, down 30 basis points year-over-year, impacted by elevated cash mix and lower loan yields.
Noninterest income increased $3 million, mainly from paper statement pricing changes, offset by lower net interchange revenue.
Return on average tangible common equity was 22.7% for the quarter.
Revenue was $929 million, down 1% year-over-year, primarily due to lower finance charges and late fees, partially offset by lower interest expense.
Total noninterest expenses increased 3% year-over-year to $12 million higher, mainly due to $13 million debt extinguishment costs; adjusted expenses were nearly flat.

TrustCo Bank Corp NY

TRST

2025 Q2

Financial Services

3mo

Net Income Beat

+19.8%

$15 million

This performance is underscored by rising net interest income, continued margin expansion and loan growth across key portfolios results in the second quarter net income of $15 million, an increase of 19.8% over the prior year quarter.

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