Reports

W. R. Berkley delivered a robust Q3 2025 with a 39.8% increase in net income, boosted by improved underwriting results and higher net investment income. Return on equity reached 24.3%, reflecting strong operational performance.

• Net income increased by 39.8% to $511.0 million, demonstrating significant profitability growth.
• Gross premiums written grew to $3.8 billion and net premiums written to $3.2 billion, indicating strong business expansion.

Steel Dynamics delivered strong Q3 2025 results, with increased earnings and record steel shipments. Growth was supported by improved performance in core steel operations and ramp-up of aluminum and biocarbon product lines.

• Achieved record steel shipments of 3.6 million tons
• Net income rose to $404 million from $318 million YoY

Summit Therapeutics had no revenue and reported a higher net loss due to increased R&D and G&A expenses, primarily from stock-based compensation and clinical expansion. The company is progressing toward a BLA submission for ivonescimab and expanding its clinical programs.

• No revenue reported for Q3 2025.
• GAAP net loss widened to $231.8 million due to increased expenses.

Crown Holdings reported a profitable Q3 2025, with strong performance in European Beverage and North American tinplate segments. Adjusted EPS rose and the company returned over $400 million to shareholders.

• Returned to profitability with $214,000,000 in net income after a $175,000,000 loss in Q3 2024
• Adjusted EPS increased to $2.24 from $1.99

AGNC Investment Corp. posted net income of $764 million and net interest income of $148 million in Q3 2025. The company delivered a 10.6% economic return on tangible common equity and a $0.47 per share increase in tangible book value, supported by strong Agency MBS performance.

• Net income reached $764 million for the quarter.
• EPS was $0.72; adjusted (non-GAAP) EPS came in at $0.35.

Wintrust delivered a strong Q3 2025 with record net interest income and net income, driven by growth in loans and deposits. Despite modest margin compression, operating results remained robust.

• Net income reached a quarterly record of $216,254,000.
• Adjusted EPS was $3.06 after excluding one-time preferred stock items.

Zions Bancorporation delivered solid results in Q3 2025, with revenue of $861 million and net income of $221 million. Net interest margin expanded for the seventh consecutive quarter, and deposits increased. However, earnings were adversely affected by a $50 million charge-off from two commercial loans.

• Revenue reached $861 million, with adjusted pre-provision net revenue up 18% YoY.
• Net interest margin increased to 3.28%, marking the seventh consecutive quarterly rise.

Cleveland-Cliffs posted a net loss of $234 million for Q3 2025, though it showed operational improvement with adjusted EBITDA reaching $143 million and signed major multi-year contracts with automotive OEMs.

• Cleveland-Cliffs reported a GAAP net loss of $234 million and an adjusted net loss of $223 million for Q3 2025.
• Revenues for the third quarter were $4.7 billion, with steel shipments reaching 4.0 million net tons.

ServisFirst Bancshares, Inc. delivered a strong third quarter in 2025, with net income rising to $65.6 million and diluted EPS reaching $1.20. The company experienced significant year-over-year growth in loans and deposits, alongside an expanding net interest margin and improved adjusted return on average common stockholders' equity. However, non-performing assets to total assets increased, primarily due to a single real-estate secured relationship.

• Diluted earnings per share for Q3 2025 was $1.20, up 9.1% from Q3 2024.
• Net interest margin improved to 3.09% in Q3 2025, up 25 basis points from Q3 2024.

Columbia Financial posted solid Q3 2025 results, driven by increased net interest income, reduced credit loss provisions, and improved asset quality. Net income rose significantly compared to Q3 2024, reflecting operational improvements across the board.

• Net income increased to $14.9 million from $6.2 million in Q3 2024.
• Net interest income rose to $57.4 million, driven by higher interest income and lower interest expense.

Dynex Capital delivered $30.61 million in net interest income and $1.09 EPS in Q3 2025, driven by asset appreciation and strategic capital deployment. Book value rose meaningfully as the company capitalized on favorable market conditions.

• Net interest income reached $30.61 million, close to street estimates.
• Book value per share increased to $12.67, up from $11.95 in Q2.

Preferred Bank achieved a record diluted EPS of $2.84 and net income of $35.9 million for Q3 2025, driven by increased net interest income and growth in both loans and deposits. The bank also significantly reduced nonperforming loans and improved its efficiency ratio.

• Record diluted earnings per share of $2.84 was reported for the third quarter of 2025.
• Net income for the quarter increased to $35.9 million, up $2.6 million from the same quarter last year.

HBT Financial delivered strong Q3 results with $19.8 million in net income and record adjusted EPS of $0.65, supported by loan growth and a stable net interest margin. Asset quality remained solid with low nonperforming asset ratios.

• Reported net income of $19.8 million and EPS of $0.63.
• Adjusted EPS of $0.65 marked the highest since becoming public.

Washington Trust Bancorp, Inc. reported third quarter 2025 net income of $10.8 million, or $0.56 per diluted share, a decrease from $13.2 million, or $0.68 per diluted share, in the second quarter of 2025. The company expanded its net interest income and margin, grew wealth management and mortgage banking revenues, and achieved strong in-market deposit growth. However, a significant increase in the provision for credit losses, primarily due to charge-offs on two commercial loan relationships totaling $11.3 million, impacted profitability.

• Net income for Q3 2025 was $10.8 million, down from $13.2 million in Q2 2025.
• Diluted EPS was $0.56, a decrease from $0.68 in the prior quarter.

RBB Bancorp delivered strong results in Q3 2025 with a rise in net income, improved net interest income, and reduced credit costs, though noninterest income declined due to the absence of ERC gains.

• Net income rose to $10.1 million, driven by core earnings growth and lower credit costs.
• Net interest income increased to $29.3 million, supported by higher loan yields.