Earnings Beat Expectations
First quarter 2025 earnings beat expectations with $0.35 diluted earnings per share, exceeding the consensus of $0.31.
Strong Loan Securitization Performance
Successful securitization of approximately $215 million of loans with a 570 basis point spread, indicating strong performance in the Alternative Loan Program.
Deposit Growth and Cost Management
Continued growth in core deposits with an expected decrease in the average cost of deposits from 4% to 3.8%-3.85% for 2025.
Improved Efficiency Ratio
Efficiency ratio improved from 71% to 62%, highlighting cost management and scalability of the digital banking model.
Pre-Provision Net Revenue Growth
Pre-provision net revenue increased by 47% year-over-year, driven by non-interest income activities.