Significant Increase in Net Earnings
Second quarter net earnings were $243 million, representing a 28% improvement over the prior year period and a 44% increase compared to the first quarter.
Expansion in Net Interest Margin
The net interest margin increased for the sixth consecutive quarter to 3.17%, supported by lower funding costs and an improved earning asset mix.
Growth in Small Business Banking
The SBA 7(a) program saw a 91% increase in the number of deals booked in the first 9 months of the SBA's 2025 fiscal year relative to the same period last year.
Positive Response to Consumer Gold Account Offering
Sales of the new consumer gold account increased by 78% versus its predecessor, with average balances around $30,000.
Improvement in Efficiency Ratio
The efficiency ratio improved to 62.2%, reflecting better cost management and revenue growth.
Increase in Diluted Earnings Per Share
Diluted earnings per share was $1.63, up from $1.13 in the prior period and $1.28 in the year-ago period.
Improvement in Asset Quality
Net loan losses for the quarter were $10 million or 7 basis points annualized, and nonperforming assets remained low at 0.51% of loans and other real estate owned.