BankUnited, Inc. Reports Second Quarter 2025 Results
"This was an outstanding quarter - we continued to deliver on key priorities with strong NIDDA growth and continued margin expansion," said Rajinder Singh, Chairman, President and Chief Executive Officer.
For the quarter ended June 30, 2025, the Company reported net income of $68.8 million, or $0.91 per diluted share, an 18% increase over $58.5 million, or $0.78 per diluted share for the immediately preceding quarter ended March 31, 2025. For the quarter ended June 30, 2024, net income was $53.7 million, or $0.72 per diluted share. For the six months ended June 30, 2025, net income was $127.2 million, or $1.68 per diluted share compared to $101.7 million, or $1.36 per diluted share for the six months ended June 30, 2024, an increase of 25%.
Quarterly Highlights
As expected, the net interest margin, calculated on a tax-equivalent basis, expanded by 0.12%, to 2.93% for the quarter ended June 30, 2025 from 2.81% for the immediately preceding quarter. Net interest income grew by $13.0 million, or 5.6% compared to the prior quarter.
The Company's funding profile continued to improve this quarter. Non-interest bearing demand deposits ("NIDDA") grew by $1.0 billion, or 13%, to 32% of total deposits, up from 29% at March 31, 2025. NIDDA was also up $1.0 billion compared to June 30, 2024, one year ago. Average NIDDA grew $581 million for the quarter ended June 30, 2025.
Non-brokered deposits grew by $1.2 billion, or 5.1%, for the quarter ended June 30, 2025 while total deposits grew by $588 million.
The average cost of total deposits declined by 0.11% to 2.47% for the quarter ended June 30, 2025 from 2.58% for the immediately preceding quarter ended March 31, 2025. The spot APY of total deposits declined by 0.15% to 2.37% at June 30, 2025 from 2.52% at March 31, 2025. The spot APY of total deposits was 3.09% at June 30, 2024, one year ago.
Wholesale funding, including FHLB advances and brokered deposits, declined by $749 million for the quarter ended June 30, 2025.
For the quarter ended June 30, 2025, CRE loans grew by $267 million, largely in line with our expectations. C&I loans declined by $199 million; a continued high level of unscheduled payoffs and some strategic exits impacted C&I growth. Consistent with our balance sheet strategy, the residential, franchise, equipment and municipal finance portfolios declined by a combined $171 million. Total loans declined by $56 million for the quarter ended June 30, 2025.
The loan to deposit ratio declined to 83.6% at June 30, 2025, from 85.5% at March 31, 2025.
With respect to credit, total criticized and classified loans declined by $156 million for the quarter ended June 30, 2025. We experienced net migration of $117 million of loans to non-accrual for the quarter, the majority of which, not unexpectedly, was attributable to office exposure. The NPA ratio at June 30, 2025 was 1.08%, including 0.10% related to the guaranteed portion of non-accrual SBA loans, compared to 0.76%, including 0.09% related to the guaranteed portion of non-accrual SBA loans, at March 31, 2025. The annualized net charge-off ratio for the six months ended June 30, 2025 was 0.27%; the net charge-off ratio for the trailing twelve months was 0.23%.
The ratio of the ACL to total loans was 0.93% at June 30, 2025, compared to 0.92% at the prior quarter-end. The ratio of the ACL to non-performing loans was 59.18%. The ACL to loans ratio for commercial portfolio sub-segments including C&I, CRE, franchise finance and equipment finance was 1.36% at June 30, 2025 and the ACL to loans ratio for CRE office loans was 1.92%. The provision for credit losses was $15.7 million for the quarter ended June 30, 2025 compared to $15.1 million for the preceding quarter.
At June 30, 2025, the weighted average LTV of the CRE portfolio was 54.2%, the weighted average DSCR was 1.76, 51% of the portfolio was collateralized by properties located in Florida and 24% was collateralized by properties located in the New York tri-state area. For the office sub-segment, the weighted average LTV was 63.3%, the weighted average DSCR was 1.52, 59% was collateralized by properties in Florida, substantially all of which was suburban, and 22% was collateralized by properties located in the New York tri-state area.
Our capital position is robust. At June 30, 2025, CET1 was 12.2% at a consolidated level. Pro-forma CET1 including accumulated other comprehensive income was 11.3% at June 30, 2025. The ratio of tangible common equity to tangible assets increased to 8.1% at June 30, 2025.
Book value and tangible book value per common share continued to accrete, to $39.26 and $38.23, respectively, at June 30, 2025 compared to $38.51 and $37.48, respectively, at March 31, 2025 and $36.11 and $35.07, respectively, at June 30, 2024. This represents a 9% year-over-year increase in tangible book value per share.
As previously announced, we are excited about the launch of new wholesale banking offices in Morristown, NJ and Charlotte, NC.
On July 22, 2025, the Company's Board of Directors authorized the repurchase of up to $100 million in shares of its outstanding common stock. Any repurchases will be made in accordance with applicable securities laws from time to time in open market or private transactions. The extent to which the Company repurchases shares, and the timing of such repurchases, will depend upon a variety of factors, including market conditions, the Company's capital position and amount of retained earnings, regulatory requirements and other considerations. No time limit was set for the completion of the share repurchase program, and the program may be suspended or discontinued at any time.
On July 22, 2025, the Company's Board of Directors authorized the redemption of all of its outstanding 4.875% senior notes due November 2025.
Loans
Loan portfolio composition at the dates indicated follows (dollars in thousands):
For the quarter ended June 30, 2025, the core C&I and CRE portfolio segments grew by a net $68 million. The CRE portfolio grew by $267 million while the C&I portfolio declined by $199 million. A continued high level of unscheduled payoffs and strategic exits contributed to this decline. MWL grew by $46 million. Consistent with our balance sheet strategy, residential loans declined by $160 million.
Our commercial real estate exposure totaled 27% of loans and 185% of the Bank's total risk based capital at June 30, 2025. By comparison, based on call report data as of March 31, 2025 for banks with between $10 billion and $100 billion in assets, the median level of CRE to total loans was 35% and the median level of CRE to total risk based capital was 217%.
Asset Quality and the ACL
The following table presents information about the ACL at the dates indicated as well as net charge-off rates for the periods ended June 30, 2025, March 31, 2025 and December 31, 2024 (dollars in thousands):
_______________________________
(1)
Annualized for the three months ended March 31, 2025 and the six months ended June 30, 2025; ratio for December 31, 2024 represents annual net charge-off rate.
(2)
For purposes of this ratio, commercial loans includes the core C&I and CRE sub-segments as presented in the table above as well as franchise and equipment finance. Due to their unique risk profiles, MWL and municipal finance are excluded from this ratio.
Expand
The ACL at June 30, 2025 represents management's estimate of lifetime expected credit losses, or the amount of amortized cost not expected to be collected, given an assessment of historical data, current conditions, and a reasonable and supportable economic forecast as of the balance sheet date. For the quarter ended June 30, 2025, the provision for credit losses, including portions related to both funded and unfunded loan commitments, was $15.7 million, compared to $15.1 million for the immediately preceding quarter ended March 31, 2025 and $19.5 million for the quarter ended June 30, 2024. Factors impacting the provision for credit losses and increase in the ACL for the quarter included increases in specific reserves and deterioration in the economic forecast, substantially offset by the impact of upgrades and payoffs of criticized and classified commercial loans, some reduction in certain qualitative factors and net charge-offs. The quarter-over-quarter decline in the ratio of the ACL to non-performing loans is related to non-performing loans that have no or relatively low related ACL due to the adequacy of estimated collateral value to cover the remaining outstanding balance, which is in some cases net of partial charge-offs recognized.
The following table summarizes the activity in the ACL for the periods indicated (in thousands):
As detailed in the following table, criticized and classified commercial loans declined during the quarter ended June 30, 2025 (in thousands):
Total criticized and classified loans declined by $156 million for the quarter ended June 30, 2025, although total non-accrual loans increased by $117 million. Of the net increase, $86 million was office related exposure. At June 30, 2025, 75% of non-accrual loans were current.
Net Interest Income
Net interest income for the quarter ended June 30, 2025 was $246.1 million, compared to $233.1 million for the immediately preceding quarter ended March 31, 2025, a 5.6% increase. Net interest income increased by 8.9% compared to $226.0 million for the quarter ended June 30, 2024. Interest income increased by $10.1 million for the quarter ended June 30, 2025 while interest expense decreased by $2.9 million. The quarter-over-quarter increase in interest income was primarily related to higher yields on loans. The decline in interest expense related to both a lower average cost of funds and lower average balance of interest bearing liabilities.
The Company's net interest margin, calculated on a tax-equivalent basis, increased by 0.12% to 2.93% for the quarter ended June 30, 2025, from 2.81% for the immediately preceding quarter ended March 31, 2025. Factors impacting the net interest margin for the quarter ended June 30, 2025 were:
The net interest margin was positively impacted by the increase in average NIDDA as a percentage of both total deposits and total funding. Average NIDDA grew by $581 million for the quarter ended June 30, 2025, while average interest bearing deposits declined by $290 million.
The average rate paid on interest bearing deposits declined to 3.48% for the quarter ended June 30, 2025, from 3.54% for the quarter ended March 31, 2025. This decline reflected the maturity of higher-rate term deposits, a reduction in higher priced brokered deposits and continued pricing discipline.
The tax-equivalent yield on loans increased to 5.55% for the quarter ended June 30, 2025, from 5.48% for the quarter ended March 31, 2025. This increase reflects the origination of new loans at higher rates, paydowns and maturities of lower rate loans and balance sheet repositioning.
The average rate paid on FHLB advances increased to 3.79% for the quarter ended June 30, 2025 from 3.69% for the quarter ended March 31, 2025, primarily due to the expiration of cash flow hedges, partially offset by maturities of higher rate advances.
Earnings Conference Call and Presentation
A conference call to discuss quarterly results will be held at 9:00 a.m. ET on Wednesday, July 23, 2025 with Chairman, President and Chief Executive Officer Rajinder P. Singh, Chief Financial Officer Leslie N. Lunak and Chief Operating Officer Thomas M. Cornish.
The earnings release and slides with supplemental information relating to the release will be available on the Investor Relations page under About Us on www.bankunited.com prior to the call. Due to recent demand for conference call services, participants are encouraged to listen to the call via a live Internet webcast at https://ir.bankunited.com. To participate by telephone, participants will receive dial-in information and a unique PIN number upon completion of registration at https://register-conf.media-server.com/register/BI81e8f26b6a09415db30bca2bdb4ac949. For those unable to join the live event, an archived webcast will be available on the Investor Relations page at https://ir.bankunited.com approximately two hours following the live webcast.
About BankUnited, Inc.
BankUnited, Inc., with total assets of $35.5 billion at June 30, 2025, is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida that provides a full range of banking and related services to individual and corporate customers through banking centers located in the state of Florida, the New York metropolitan area and Dallas, Texas, and a comprehensive suite of wholesale products to customers through an Atlanta office focused on the Southeast region. BankUnited also offers certain commercial lending and deposit products through national platforms. For additional information, call (877) 779-2265 or visit www.BankUnited.com. BankUnited can be found on Facebook at facebook.com/BankUnited.official, LinkedIn @BankUnited and on X @BankUnited.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the Company's current views with respect to, among other things, future events and financial performance. The Company generally identifies forward-looking statements by terminology such as 'outlook,' 'believes,' 'expects,' 'potential,' 'continues,' 'may,' 'will,' 'could,' 'should,' 'seeks,' 'approximately,' 'predicts,' 'intends,' 'plans,' 'estimates,' 'anticipates,' "forecasts" or the negative version of those words or other comparable words. Any forward-looking statements contained in this press release are based on the historical performance of the Company and its subsidiaries or on the Company's current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the Company that the future plans, estimates or expectations contemplated by the Company will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions, including (without limitation) those relating to the Company's operations, financial results, financial condition, business prospects, growth strategy and liquidity, including as impacted by external circumstances outside the Company's direct control, such as but not limited to adverse events or conditions impacting the financial services industry. If one or more of these or other risks or uncertainties materialize, or if the Company's underlying assumptions prove to be incorrect, the Company's actual results may vary materially from those indicated in these statements. These factors should not be construed as exhaustive. The Company does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements. Information on these factors can be found in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are available at the SEC's website (www.sec.gov).
BANKUNITED, INC. AND SUBSIDIARIES
AVERAGE BALANCES AND YIELDS
(Dollars in thousands)
Assets:
Interest earning assets:
Loans
$
23,901,218
$
330,805
5.55
%
$
23,933,938
$
324,113
5.48
%
$
24,290,169
$
353,707
5.85
%
Investment securities (3)
9,352,504
118,046
5.06
%
9,104,228
114,590
5.07
%
8,894,517
124,572
5.60
%
Other interest earning assets
807,721
8,343
4.14
%
788,547
8,436
4.33
%
711,586
8,986
5.08
%
Total interest earning assets
34,061,443
457,194
5.38
%
33,826,713
447,139
5.34
%
33,896,272
487,265
5.77
%
Allowance for credit losses
(227,191
)
(228,158
)
(225,161
)
Non-interest earning assets
1,370,990
1,376,904
1,571,649
Total assets
$
35,205,242
$
34,975,459
$
35,242,760
Liabilities and Stockholders' Equity:
Interest bearing liabilities:
Interest bearing demand deposits
$
5,407,538
$
45,689
3.39
%
$
4,811,826
$
39,893
3.36
%
$
3,742,071
$
35,249
3.79
%
Savings and money market deposits
10,355,700
88,023
3.41
%
10,833,734
91,779
3.44
%
11,176,000
118,945
4.28
%
Time deposits
3,919,526
36,983
3.79
%
4,326,750
42,538
3.99
%
4,750,640
53,897
4.56
%
Total interest bearing deposits
19,682,764
170,695
3.48
%
19,972,310
174,210
3.54
%
19,668,711
208,091
4.26
%
FHLB advances
2,941,264
27,828
3.79
%
2,991,389
27,206
3.69
%
3,764,286
40,032
4.28
%
Notes and other borrowings
709,081
9,137
5.16
%
709,037
9,134
5.15
%
711,167
9,153
5.15
%
Total interest bearing liabilities
23,333,109
207,660
3.57
%
23,672,736
210,550
3.61
%
24,144,164
257,276
4.28
%
Non-interest bearing demand deposits
7,993,915
7,413,117
7,448,633
Other non-interest bearing liabilities
931,879
1,004,917
960,691
Total liabilities
32,258,903
32,090,770
32,553,488
Stockholders' equity
2,946,339
2,884,689
2,689,272
Total liabilities and stockholders' equity
$
35,205,242
$
34,975,459
$
35,242,760
Net interest income
$
249,534
$
236,589
$
229,989
Interest rate spread
1.81
%
1.73
%
1.49
%
Net interest margin
2.93
%
2.81
%
2.72
%
Expand
_______________________________
(1)
On a tax-equivalent basis where applicable
(2)
Annualized
(3)
At fair value
Expand
BANKUNITED, INC. AND SUBSIDIARIES
AVERAGE BALANCES AND YIELDS
(Dollars in thousands)
Six Months Ended June 30,
2025
2024
Assets:
Interest earning assets:
Loans
$
23,917,488
$
654,918
5.51
%
$
24,313,806
$
704,149
5.82
%
Investment securities (3)
9,229,050
232,636
5.06
%
8,923,485
249,596
5.59
%
Other interest earning assets
801,797
16,779
4.22
%
737,523
19,024
5.19
%
Total interest earning assets
33,948,335
904,333
5.36
%
33,974,814
972,769
5.74
%
Allowance for credit losses
(227,672
)
(215,954
)
Non-interest earning assets
1,370,321
1,580,491
Total assets
$
35,090,984
$
35,339,351
Liabilities and Stockholders' Equity:
Interest bearing liabilities:
Interest bearing demand deposits
$
5,111,328
$
85,582
3.37
%
$
3,663,217
$
68,756
3.77
%
Savings and money market deposits
10,593,396
179,802
3.42
%
11,205,130
237,584
4.26
%
Time deposits
4,122,014
79,521
3.89
%
4,990,909
111,749
4.50
%
Total interest bearing deposits
19,826,738
344,905
3.50
%
19,859,256
418,089
4.23
%
FHLB advances
2,966,188
55,034
3.74
%
4,167,253
87,528
4.22
%
Notes and other borrowings
709,059
18,271
5.16
%
710,092
18,276
5.15
%
Total interest bearing liabilities
23,501,985
418,210
3.58
%
24,736,601
523,893
4.26
%
Non-interest bearing demand deposits
7,705,120
7,004,780
Other non-interest bearing liabilities
968,195
933,479
Total liabilities
32,175,300
32,674,860
Stockholders' equity
2,915,684
2,664,491
Total liabilities and stockholders' equity
$
35,090,984
$
35,339,351
Net interest income
$
486,123
$
448,876
Interest rate spread
1.78
%
1.48
%
Net interest margin
2.87
%
2.64
%
Expand
_______________________________
(1)
On a tax-equivalent basis where applicable
(2)
Annualized
(3)
At fair value
Expand
BANKUNITED, INC. AND SUBSIDIARIES
EARNINGS PER COMMON SHARE
(In thousands except share and per share amounts)
Three Months Ended
Six Months Ended
June 30, 2025
March 31, 2025
June 30, 2024
June 30, 2025
June 30, 2024
Basic earnings per common share:
Numerator:
Net income
$
68,766
$
58,476
$
53,733
$
127,242
$
101,713
Distributed and undistributed earnings allocated to participating securities
(979
)
(821
)
(748
)
(1,799
)
(1,429
)
Income allocated to common stockholders for basic earnings per common share
$
67,787
$
57,655
$
52,985
$
125,443
$
100,284
Denominator:
Weighted average common shares outstanding
75,222,756
74,918,750
74,762,498
75,071,593
74,635,803
Less average unvested stock awards
(1,124,872
)
(1,101,408
)
(1,110,233
)
(1,113,205
)
(1,119,035
)
Weighted average shares for basic earnings per common share
74,097,884
73,817,342
73,652,265
73,958,388
73,516,768
Basic earnings per common share
$
0.91
$
0.78
$
0.72
$
1.70
$
1.36
Diluted earnings per common share:
Numerator:
Income allocated to common stockholders for basic earnings per common share
$
67,787
$
57,655
$
52,985
$
125,443
$
100,284
Adjustment for earnings reallocated from participating securities
5
4
2
9
4
Income used in calculating diluted earnings per common share
$
67,792
$
57,659
$
52,987
$
125,452
$
100,288
Denominator:
Weighted average shares for basic earnings per common share
74,097,884
73,817,342
73,652,265
73,958,388
73,516,768
Dilutive effect of certain share-based awards
523,812
562,488
365,988
543,043
310,906
Weighted average shares for diluted earnings per common share
74,621,696
74,379,830
74,018,253
74,501,431
73,827,674
Diluted earnings per common share
$
0.91
$
0.78
$
0.72
$
1.68
$
1.36
Expand
BANKUNITED, INC. AND SUBSIDIARIES
SELECTED RATIOS
June 30, 2025
March 31, 2025
June 30, 2024
June 30, 2025
June 30, 2024
Financial ratios (4)
Return on average assets
0.78
%
0.68
%
0.61
%
0.73
%
0.58
%
Return on average stockholders' equity
9.4
%
8.2
%
8.0
%
8.8
%
7.7
%
Net interest margin (3)
2.93
%
2.81
%
2.72
%
2.87
%
2.64
%
Loans to deposits
83.6
%
85.5
%
88.7
%
83.6
%
88.7
%
Tangible book value per common share
$
38.23
$
37.48
$
35.07
$
38.23
$
35.07
Expand
June 30, 2025
March 31, 2025
December 31, 2024
Asset quality ratios
Non-performing loans to total loans (1)(5)
1.57
%
1.08
%
1.03
%
Non-performing assets to total assets (2)(5)
1.08
%
0.76
%
0.73
%
ACL to total loans
0.93
%
0.92
%
0.92
%
Commercial ACL to commercial loans (6)
1.36
%
1.34
%
1.37
%
ACL to non-performing loans (1)(5)
59.18
%
84.58
%
89.01
%
Net charge-offs to average loans (7)
0.27
%
0.33
%
0.16
%
Expand
_______________________________
(1)
We define non-performing loans to include non-accrual loans and loans other than purchased credit deteriorated and government insured residential loans that are past due 90 days or more and still accruing. Contractually delinquent purchased credit deteriorated and government insured residential loans on which interest continues to be accrued are excluded from non-performing loans.
(2)
Non-performing assets include non-performing loans, OREO and other repossessed assets.
(3)
On a tax-equivalent basis.
(4)
Annualized for the three and six month periods as applicable.
(5)
Non-performing loans and assets include the guaranteed portion of non-accrual SBA loans totaling $35.9 million or 0.15% of total loans and 0.10% of total assets at June 30, 2025, $33.0 million or 0.14% of total loans and 0.09% of total assets at March 31, 2025, and $34.3 million or 0.14% of total loans and 0.10% of total assets at December 31, 2024.
(6)
For purposes of this ratio, commercial loans includes the C&I and CRE sub-segments, as well as franchise and equipment finance. Due to their unique risk profiles, MWL and municipal finance are excluded from this ratio.
(7)
Annualized for the three months ended March 31, 2025 and the six months ended June 30, 2025; ratio for December 31, 2024 represents annual net charge-off rate.
Expand
Non-GAAP Financial Measures
Tangible book value per common share is a non-GAAP financial measure. Management believes this measure is relevant to understanding the capital position and performance of the Company. Disclosure of this non-GAAP financial measure also provides a meaningful basis for comparison to other financial institutions as it is a metric commonly used in the banking industry. The following table reconciles the non-GAAP financial measurement of tangible book value per common share to the comparable GAAP financial measurement of book value per common share at the dates indicated (in thousands except share and per share data):
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XPO, Inc. (NYSE:XPO) reported second-quarter 2025 financial results on Thursday. Adjusted diluted earnings per share (EPS) of $1.05 exceeded the analyst consensus of $1.00. Revenue reached $2.08 billion for the quarter, surpassing estimates of $2.06 billion and remaining flat year over year. XPO's operating income for the second quarter of 2025 rose slightly to $198 million from $197 million in the same period last year. On an adjusted basis, adjusted net income was $125 million for the quarter, compared to $135 million in the second quarter of 2024. Adjusted EBITDA for the second quarter was $340 million, a slight dip from $343 million in the prior year. Also Read: XPO's North American Less-Than-Truckload (LTL) segment demonstrated strong operational performance. LTL revenue was $1.24 billion, a 2.5% decrease from the second quarter of 2024, attributed to a 5.1% decline in shipments per day and a 6.7% drop in daily tonnage. LTL segment achieved an adjusted operating ratio of 82.9%, a 30-basis-point improvement year-over-year, which CEO Mario Harik called 'industry-best.' Yield, excluding fuel, increased by 6.1%, and revenue per shipment grew by 5.6%. The company also significantly reduced purchased transportation expenses by 53% through insourcing linehaul miles. Adjusted EBITDA for the North American LTL segment increased 1.0% to $300 million. View more earnings on XPO The European Transportation segment reported revenue of $841 million, up 4.1% year-over-year. However, adjusted EBITDA for this segment declined to $44 million from $49 million in the prior year. Net income for the quarter was $106 million, down from $150 million a year ago. This decline in diluted EPS to $0.89 from $1.25 in the prior-year period was largely due to XPO lapping a one-time tax benefit related to its European business a year ago. XPO generated $247 million in operating cash flow and ended the quarter with $225 million in cash and cash equivalents. 'In our North American LTL business, we achieved an adjusted operating ratio of 82.9%, reflecting an industry-best year-over-year improvement of 30 basis points. While our tonnage declined in the soft freight environment, our world-class service culture drove above-market pricing growth and share gains with local customers,' Harik said in a statement. 'On the cost side, we reduced purchased transportation expense by 53% as we insourced linehaul miles to a record level. And we generated another gain in labor productivity, supported by our proprietary technology.' Harik continued, 'We're executing at a high level and consistently outperforming the industry, with a strategy that positions us to deliver long-term margin expansion and earnings growth,' he added. Price Action: XPO shares are trading lower by 8.88% to $120.54 at last check Thursday. Read Next:Image by Miguel Perfectti via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? XPO (XPO): Free Stock Analysis Report This article XPO Cuts Costs, Expands Margins Despite Freight Slowdown originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Business Wire
27 minutes ago
- Business Wire
TLX Investors Have Opportunity to Join Telix Pharmaceuticals Limited Fraud Investigation with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Telix Pharmaceuticals Limited ('Telix' or 'the Company') (NASDAQ: TLX) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Telix disclosed on July 22, 2025, that it had received a subpoena from the SEC "seeking various documents and information primarily relating to the Company's disclosures regarding the development of the Company's prostate cancer therapeutic candidates." Based on this news, Telix ADRs fell by more than 10.4% on the next day. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Business Wire
27 minutes ago
- Business Wire
AM Best Affirms Credit Ratings of Jordan Insurance Company Plc.
LONDON--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of 'bb+' (Fair) of Jordan Insurance Company Plc. (JIC) (Jordan). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect JIC's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and marginal enterprise risk management (ERM). JIC's balance sheet strength is underpinned by its risk-adjusted capitalisation, which was at the strongest level as at year-end 2024, as measured by Best's Capital Adequacy Ratio (BCAR). The company's BCAR scores have improved in recent years as a result of measures taken by management to increase risk-adjusted capitalisation, including the suspension of dividend payments and the divesture of certain capital-intensive investments. Nonetheless, a partially offsetting rating factor is JIC's significant holdings of illiquid equity and real estate asset classes, which have been a source of volatility to the company's total equity, and have negatively impacted its regulatory solvency capital ratio. The ratings also consider JIC's moderately high reinsurance dependence for large property and commercial risks, although the associated risks are partially mitigated by a stable reinsurance panel of good credit quality. JIC has a track record of adequate operating performance, evidenced by return-on-equity ratios of approximately 4% over the last five years (2020-2024). The company reported a net profit of JOD 2.3 million in 2024 (2023: JOD 1.8 million), primarily driven by the profitability of its life portfolio, while challenging market conditions in Jordan and the United Arab Emirates translated into a non-life net/net combined ratio of 100.8% (101.7% in 2023 - as calculated by AM Best). Overall operating results have been supported by modest investment income, which translated into an average net investment return of 2.2% over the past five years. However, volatility in fair value movements of investments recognised through other comprehensive income introduced volatility into JIC's total equity over the period. JIC has an established position in Jordan's insurance market, where the company consistently ranks second based on gross written premiums; however, this market remains relatively small by international standards. JIC's insurance services revenue is well-diversified across a range of life and non-life business lines in Jordan. Due to the heavy use of reinsurance on property and other commercial lines, the company's net insurance services revenue is concentrated in motor and medical, although to a lesser extent than its domestic peers. The assessment considers the geographic diversification provided by branch offices in the UAE and, to a lesser extent, Kuwait, together with the multi-year bancassurance agreements in place for the distribution of life insurance products, giving JIC a competitive edge over most of its domestic peers. While JIC demonstrates a sound framework for identifying and managing underwriting-related risks, AM Best considers that risk management capabilities are not commensurate with the company's risk profile in areas including investments and capital management. The company is expected to take further steps to reduce its exposure to these risks over the short to medium term. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
