Financial Performance - For the nine months ended September 30, 2025, net income was $961,651, down from $2,108,102 for the same period in 2024, representing a decrease of about 54%[12] - The company reported a loss from operations of $585,170 for the nine months ended September 30, 2025, compared to a loss of $662,765 for the same period in 2024, indicating an improvement of approximately 12%[12] - Basic and diluted net income per ordinary share subject to possible redemption was $0.15 for the nine months ended September 30, 2025, compared to $0.23 for the same period in 2024, a decrease of about 35%[12] - The company generated interest income of $1,546,821 from cash held in trust for the nine months ended September 30, 2025, down from $2,770,867 for the same period in 2024, a decrease of approximately 44%[16] - The net cash used in operating activities for the nine months ended September 30, 2025, was $521,868, compared to $477,158 for the same period in 2024, indicating an increase of about 9%[16] - The company has incurred formation and operational costs of $585,170 for the nine months ended September 30, 2025, compared to $662,765 for the same period in 2024[97] Assets and Liabilities - As of September 30, 2025, total assets amounted to $45,468,518, a decrease from $73,814,933 as of December 31, 2024, reflecting a decline of approximately 38%[10] - Cash held in the Trust Account decreased to $45,443,570 as of September 30, 2025, from $73,784,549 as of December 31, 2024, a decline of about 38%[10] - The company had total current liabilities of $2,774,428 as of September 30, 2025, significantly higher than $816,994 as of December 31, 2024, marking an increase of approximately 239%[10] - As of September 30, 2025, the accumulated deficit increased to $(3,439,693) from $(1,476,823) as of December 31, 2024, reflecting a deterioration of approximately 133%[10] - As of September 30, 2025, the cash balance was $2,979, a decrease from $28,208 as of December 31, 2024[47] - As of September 30, 2025, the Company had $45,443,570 in its Trust Account and a working capital deficit of $2,749,480[37] Initial Public Offering and Financing - The Company completed its Initial Public Offering on December 6, 2023, raising gross proceeds of $69,000,000 from the sale of 6,900,000 units at $10.00 per unit[21] - The Company completed a private placement of 332,000 units at $10.00 per unit, generating total gross proceeds of $3,320,000[22] - Following the Initial Public Offering, $69,690,000 was placed in a Trust Account, held as cash or invested in U.S. government securities[23] - The underwriters received a cash underwriting discount of $1,380,000 for the Initial Public Offering, with a deferred fee of $690,000 upon closing of a business combination[81] - The Company granted Spartan Capital Securities, LLC a right of first refusal for future equity and debt offerings for a period of 12 months from the closing of a business combination[82] - The Company incurred $1,380,000 in underwriting discounts and $550,000 in other costs related to the IPO[117] Business Combination and Future Plans - The Company has until December 6, 2025, to complete a business combination, having extended the period twelve times[35] - The Company must complete a business combination by December 6, 2025, with the option to extend the deadline up to twelve times by one month each time[67] - The company expects to close the business combination with United Hydrogen in early 2026, subject to various conditions including shareholder approvals and regulatory clearances[95] - The Company will cease operations and liquidate if it fails to complete a business combination within the specified period[40] Shareholder Information - Shareholders can redeem Public Shares for a pro rata portion of the Trust Account, initially valued at $10.10 per share[25] - As of September 30, 2025, 3,995,733 ordinary shares were subject to possible redemption, valued at redemption amount as temporary equity[49] - A total of 2,904,267 shares were redeemed at approximately $10.77 per share, totaling around $31.27 million[73] - As of September 30, 2025, there were 2,126,000 ordinary shares issued and outstanding, excluding 3,995,733 shares subject to possible redemption[74] Management and Operations - The Company has not engaged in any operations or generated any revenue to date, with all activities focused on preparing for the IPO and identifying a target company for a business combination[96] - The company’s management has expressed substantial doubt about its ability to continue as a going concern if it fails to complete a business combination within the prescribed time[101] - The Company has not drawn any amounts under Working Capital Loans as of September 30, 2025[38] - The Company has no long-term debt or off-balance sheet financing arrangements as of September 30, 2025[102][103] Tax and Regulatory Matters - The Company is classified as an "emerging growth company," allowing it to take advantage of certain reporting exemptions[42] - The Company is exempt from income taxes in the Cayman Islands and the United States, resulting in no provision for income taxes for the three and nine months ended September 30, 2025, and 2024[52] - The Company has not recognized any unrecognized tax benefits as of September 30, 2025, and December 31, 2024[51] Trust Account and Related Agreements - The fair value of cash held in the Trust Account was $45,443,570 as of September 30, 2025, categorized as Level 1 in the fair value hierarchy[59] - The Sponsor has agreed to cover any claims that reduce the Trust Account below $10.10 per share, except for certain third-party claims[30] - On February 6, 2025, the Company amended the Trust Agreement, adjusting the extension fee to $150,000 for all outstanding Public Shares for each monthly extension[68] - As of September 30, 2025, the note payable balance was $1,655,400, reflecting the total amount due for extensions[68] - The total amount due to a related company was $826,419 as of September 30, 2025, for administrative services and IPO-related costs[70] - The Company agreed to pay the Sponsor $10,000 per month for administrative services, with an unpaid balance of $210,000 as of September 30, 2025[71]

IPO and Financial Proceeds - The company completed its Initial Public Offering (IPO) on January 29, 2025, raising gross proceeds of $200,000,000 from the sale of 20,000,000 units at $10.00 per unit[108]. - Following the IPO, the company placed $231,150,000 in a trust account for the benefit of public shareholders[121]. - The company incurred total transaction costs of $8,898,201 related to the IPO, including $1,150,000 in cash underwriting fees[123]. - Underwriters received a cash underwriting discount of $1,150,000, which is 0.5% of the gross proceeds from the Initial Public Offering[131]. - A deferred fee of $6,900,000, or 3.0% of the gross proceeds, will be payable to underwriters upon completion of a business combination[131]. Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $2,184,563, primarily from interest earned on cash and investments held in the trust account[117]. - The company generated a net income of $5,727,685 for the nine months ended September 30, 2025, from interest earned on trust account funds[117]. - The company has not generated any operating revenues to date and does not expect to do so until after completing its initial business combination[116]. Business Combination and Future Plans - The company has until April 29, 2026, to complete its initial business combination, with the possibility of extending this period by up to six months[112]. - The company intends to use substantially all funds in the trust account to complete its initial business combination[124]. - The company may need to raise additional funds if the costs of identifying a target business exceed current estimates[127]. Liquidity and Going Concern - As of September 30, 2025, the company had cash of $717, indicating limited liquidity prior to the IPO[119]. - Management has raised substantial doubt about the company's ability to continue as a going concern within one year after the issuance of the unaudited financial statements[128]. - The company has no long-term debt or significant liabilities, with the only obligation being $10,000 per month for administrative services[130]. Accounting and Regulatory Matters - The company is evaluating the impact of ASU 2024-03, which requires additional disclosures about specific expense categories, effective for fiscal years beginning after December 15, 2026[133]. - Management does not anticipate that recently issued accounting standards will materially affect the unaudited financial statements[134]. - The net proceeds from the Initial Public Offering have been invested in U.S. government treasury obligations with a maturity of 185 days or less, minimizing interest rate risk[135]. Off-Balance Sheet Financing - The company has no off-balance sheet financing arrangements as of September 30, 2025, and does not engage in transactions with unconsolidated entities[129].

IPO and Financial Proceeds - The company completed its Initial Public Offering (IPO) on January 29, 2025, raising gross proceeds of $200,000,000 from the sale of 20,000,000 units at $10.00 per unit[108]. - Following the IPO, the company placed $231,150,000 in a trust account for the benefit of public shareholders[121]. - The company incurred total transaction costs of $8,898,201 related to the IPO, including $1,150,000 in cash underwriting fees[123]. - Underwriters received a cash underwriting discount of $1,150,000, which is 0.5% of the gross proceeds from the Initial Public Offering, and a deferred fee of $6,900,000, or 3.0% of the gross proceeds[131]. - Following the Initial Public Offering, net proceeds have been invested in U.S. government treasury obligations with a maturity of 185 days or less, minimizing exposure to interest rate risk[135]. Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $2,184,563, primarily from interest earned on cash and investments held in the trust account[117]. - The company generated non-operating income from interest earned on cash and investments, with total interest of $6,454,232 for the nine months ended September 30, 2025[117]. - As of September 30, 2025, the company had cash of $717, indicating limited liquidity prior to the IPO[119]. Business Operations and Future Plans - The company has not engaged in any operations or generated revenues to date, focusing on identifying a target company for its initial business combination[116]. - The company intends to use substantially all funds in the trust account to complete its initial business combination and may withdraw interest to pay taxes[124]. - The company has until April 29, 2026, to complete its initial business combination, with the possibility of extending this period by up to six months[112]. Financial Health and Concerns - Management has raised substantial doubt about the company's ability to continue as a going concern within one year after the issuance of the unaudited financial statements due to mandatory liquidation and subsequent dissolution[128]. - The company has no long-term debt or significant liabilities, with the only obligation being $10,000 per month for administrative services[130]. - The company has no off-balance sheet financing arrangements as of September 30, 2025, and does not engage in transactions with unconsolidated entities[129]. Accounting Standards and Regulations - The company is evaluating the impact of adopting ASU 2024-03, which requires additional disclosures about specific expense categories, effective for fiscal years beginning after December 15, 2026[133]. - The company does not believe that any recently issued accounting standards will materially affect its unaudited financial statements[134]. Sponsor Support - The sponsor has provided $491,178 in expenses on behalf of the company since the IPO, affecting the share subscription receivable[120].

Financial Performance - The net loss for the nine months ended September 30, 2025, was $134,658, compared to a net income of $215,882 for the same period in 2024[13]. - For the three months ended September 30, 2025, the net loss was $56,580, compared to a net loss of $64,743 for the same period in 2024, indicating an improvement of approximately 12.5%[71]. - The basic and diluted net loss per ordinary share for the three months ended September 30, 2025, was $0.11, while for the same period in 2024, it was $(0.01)[71]. - The basic and diluted net income per ordinary share for the nine months ended September 30, 2025, was $0.32, compared to $(0.04) for the same period in 2024[71]. - Cash used in operating activities for the nine months ended September 30, 2025, was $313,564, with a net loss of $134,658[142]. - The Company reported general and administrative expenses of $78,428, compared to $195,662 for the same period in 2024, reflecting a decrease of approximately 60%[115]. Assets and Liabilities - As of September 30, 2025, total assets amounted to $654,159, compared to $4,642,664 as of December 31, 2024, indicating a significant decrease[11]. - Current liabilities increased to $662,357 from $437,719 in the previous period, primarily due to an increase in accounts payable and accrued expenses[11]. - As of September 30, 2025, the accumulated deficit increased to $(7,530,490) from $(7,280,411) at the end of 2024[11]. - As of September 30, 2025, the Company had cash of $50,633 and a working capital deficit of $530,490[50]. - As of September 30, 2025, there was $293,054 outstanding under the 2024 Note and July 2025 Note combined[85]. - The Company had cash of $50,633 outside the Trust Account as of September 30, 2025, with a working capital deficit of $530,490[148]. IPO and Financing - The IPO generated gross proceeds of $200,000,000 from the sale of 20,000,000 units at an offering price of $10.00 per unit[21]. - Transaction costs for the IPO totaled $13,150,218, including $3,380,000 in underwriting fees and $7,000,000 in deferred underwriting fees[22]. - The Company completed an IPO of 20,000,000 units at an offering price of $10.00 per unit, generating gross proceeds of $200,000,000[139]. - A Private Placement of 8,966,000 warrants was executed at $1.00 per warrant, resulting in total proceeds of $8,966,000[140]. - The Sponsor agreed to loan the Company up to $160,000 on December 9, 2024, and up to $152,000 on July 14, 2025, for working capital purposes[40]. - The Sponsor agreed to loan the Company up to $500,000 under a non-interest bearing promissory note for working capital purposes[48]. Business Operations - The company had not commenced any operations as of September 30, 2025, and all activities were related to its formation and search for a business combination target[20]. - The Company has not generated any operating revenues and will only do so after completing its initial business combination[20]. - The Company expects to incur significant costs related to being a public company and for due diligence expenses in connection with searching for a Business Combination[136]. - The Company has until August 5, 2027, to consummate a Business Combination, or it will trigger an automatic winding up and liquidation[148]. - The Company has not experienced losses on cash accounts exceeding the FDIC limit of $250,000 as of September 30, 2025[60]. Shareholder and Governance - Following the Share Exchange on December 7, 2023, the Sponsor held approximately 68.1% of the Company's outstanding Class A ordinary shares[36]. - The Company filed an Information Statement on July 15, 2025, notifying shareholders of a change in the majority of the board of directors[41]. - On July 28, 2025, Yip Tsz Yan was appointed as Chief Executive Officer, Chief Financial Officer, and Chairman of the Board[42]. - The Company’s shareholders approved an extension to consummate a business combination until August 5, 2027, during the extraordinary general meeting held on July 30, 2025[130]. Market and Trading - The Company received a Delisting Letter from Nasdaq on September 13, 2024, due to non-compliance with the minimum 400 total shareholders requirement[38]. - Trading in the Company's securities was suspended on Nasdaq on September 24, 2024, and is now quoted on OTC markets[39]. - The Company’s securities were suspended from trading on Nasdaq on September 24, 2024, and are now quoted in the Over-the-Counter market[124]. Accounting and Compliance - The Company engaged FundCertify CPA Professional Corporation as its independent registered public accounting firm for the fiscal year ending December 31, 2025[47]. - The Company is classified as an "emerging growth company" under the JOBS Act, allowing it to delay compliance with new financial accounting standards[55]. - The Company adopted ASU 2023-09 effective January 1, 2025, which did not impact its financial position or results of operations[75]. - The Company has no off-balance sheet financing arrangements as of September 30, 2025[150].

FORM 8-K CURRENT REPORT (State or Other Jurisdiction of Incorporation or Organization) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): November 14, 2025 BIOTRICITY INC. (Exact name of registrant as specified in its charter) (Commission File Number) Nevada 001-40761 30-0983531 (IRS Employer Identification No.) 203 Redwood Shores Parkway, Suite 600 Redwood City, Califo ...

[Filing Information](index=1&type=section&id=Filing%20Information) This section provides essential details about the registrant, Golub Capital BDC, Inc., including its incorporation, executive offices, and securities trading information [Registrant Information](index=1&type=section&id=Registrant%20Information) This section identifies Golub Capital BDC, Inc. as the registrant, a Delaware corporation, and provides its principal executive offices address and telephone number - Registrant: **Golub Capital BDC, Inc.**[1](index=1&type=chunk) - Jurisdiction of Incorporation: **Delaware**[1](index=1&type=chunk) - Principal Executive Offices: **200 Park Avenue, 25th Floor, New York, NY 10166**[1](index=1&type=chunk) [Securities Information](index=1&type=section&id=Securities%20Information) The registrant's Common Stock is traded on The Nasdaq Global Select Market under the symbol GBDC, and the company is not an emerging growth company Common Stock Listing Details | Title of each class | Trading Symbol | Name of each exchange on which registered | | :------------------------------ | :------------- | :---------------------------------------- | | Common Stock, par value $0.001 per share | GBDC | The Nasdaq Global Select Market | - The registrant is not an emerging growth company[3](index=3&type=chunk) [Current Report Items](index=3&type=section&id=Current%20Report%20Items) This section details the announcement of financial results and lists the exhibits accompanying the Form 8-K filing [Item 2.02. Results of Operations and Financial Condition](index=3&type=section&id=Item%202.02.%20Results%20of%20Operations%20and%20Financial%20Condition) Golub Capital BDC, Inc. announced it will release financial results for the quarter and year ended September 30, 2025, on November 18, 2025, after market close, with a press release furnished as Exhibit 99.1 - Golub Capital BDC, Inc. will release financial results for the quarter and year ended September 30, 2025, on **Tuesday, November 18, 2025**, after the close of financial markets[4](index=4&type=chunk) - A press release (Exhibit 99.1) announcing the financial results release is attached[4](index=4&type=chunk) - The information in Item 2.02 and Exhibit 99.1 is furnished and not deemed 'filed' under Section 18 of the Securities Exchange Act of 1934[5](index=5&type=chunk) [Item 9.01. Financial Statements and Exhibits](index=3&type=section&id=Item%209.01.%20Financial%20Statements%20and%20Exhibits) This section lists the exhibits accompanying the Form 8-K, including the press release regarding financial results and the Cover Page Interactive Data File List of Exhibits | Exhibit Number | Description | | :------------- | :--------------------------------------------------------- | | 99.1 | Press release of Golub Capital BDC, Inc., dated as of October 7, 2025 | | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | [SIGNATURES](index=4&type=section&id=SIGNATURES) The report was duly signed on behalf of Golub Capital BDC, Inc. by Christopher C. Ericson, Chief Financial Officer, on October 7, 2025 - The report was signed by **Christopher C. Ericson, Chief Financial Officer**[10](index=10&type=chunk) - Date of signature: **October 7, 2025**[10](index=10&type=chunk)

Financial Risks and Uncertainties - The company anticipates future cash flows and operating model adjustments due to current tariff impacts and geopolitical conditions[9] - The company faces risks from economic uncertainties, including the effects of the Russia-Ukraine war and the Israel-Hamas conflict on international trade and supply chains[10] - The company is exposed to significant international business risks that could impact its operations and financial results[17] - The company reported significant international business risks that could adversely affect its financial condition and operating results, including exchange rate fluctuations and compliance with foreign regulations[21] - The company’s financial flexibility may be limited by its indebtedness, increasing risks associated with additional debt[16] - The company has substantial indebtedness, which may limit its financial and operational flexibility and increase risks associated with additional debt[21] - The market price of the company's common stock is likely to be highly volatile, influenced by various external factors[20] - The company is subject to fluctuations in raw material prices, which could adversely affect its financial condition and profits[15] - The company is subject to various claims and litigation, which may adversely affect its financial condition and results of operations[21] Business Strategy and Operations - The company plans to separate its Home and Personal Care business into an independent entity, which may not achieve intended benefits or timelines[15] - The company may incur substantial costs related to strategic initiatives, including acquisitions and divestitures, which could divert management's focus[15] - The company’s operational efficiency and multi-year restructuring initiatives are critical for its long-term growth[21] - The company plans to continue focusing on research and development for new product innovations and enhancements to existing products[32][37] - The company's research and development strategy focuses on new product development and performance enhancements of existing products[43] - The company plans to continue leveraging brand names and customer relationships to introduce innovative products with enhanced value[43] Sales and Market Performance - Approximately 34% of segment sales for the year ended September 30, 2025, were generated from major retailers Amazon and Walmart[29] - For the year ended September 30, 2025, Amazon and Walmart accounted for approximately 42% of segment sales, with sales concentrated among a limited group of retail customers[40] - The Home and Garden segment's sales peaked during the first six months of the calendar year, with quarterly sales percentages for the year ended September 30, 2025, being 16%, 27%, 33%, and 24% respectively[35] - The Global Pet Care segment's sales remained consistent throughout the year, with quarterly sales percentages of 24%, 25%, 24%, and 27% for the year ended September 30, 2025[29] - Quarterly sales as a percentage of annual net sales for the year ended September 30, 2025, were 30% in Q1, 22% in Q2, 22% in Q3, and 26% in Q4[40] Employee and Operational Structure - As of September 30, 2025, the company had approximately 3,000 full-time employees, with 32% covered by collective bargaining agreements[45] - The company maintains ownership of most tooling and molds used by suppliers, which are primarily located in the APAC region[42] Cybersecurity and Compliance - The company faces significant cybersecurity risks that could materially impact its business and reputation[21] - The company must navigate compliance with evolving regulations regarding data privacy and intellectual property, which could harm its business[18] Environmental, Social, and Governance (ESG) Efforts - The company is committed to enhancing its Environmental, Social, and Governance (ESG) efforts, focusing on product safety, sustainability, and employee well-being[48] Foreign Exchange and Debt Management - The company has $8.1 million equivalent of debt denominated in foreign currencies, primarily consisting of finance leases[279] - A 10% unfavorable change in underlying foreign exchange rates could result in a potential loss of $69.2 million from outstanding foreign exchange derivative instruments[280]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission File Number: 001-40510 Corner Growth Acquisition Corp. 2 (Exact name of registrant as specified in its charter) Cayman Islands 98- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission File Number: 001-39814 CORNER GROWTH ACQUISITION CORP. (Exact name of registrant as specified in its charter) Cayman Islands 98-1563902 (State or other jurisdiction (IRS Employer of i ...

Loan Losses and Credit Provisions - The allowance for loan losses decreased by $4,033,000, or 1.98%, from $203,753,000 as of September 30, 2024, to $199,720,000 at September 30, 2025[270]. - The Company recorded a provision for credit losses of $7,750,000 in 2025, compared to a provision of $17,500,000 for 2024[270]. - Net charge-offs for the year ended September 30, 2025, were $11,783,000, compared to charge-offs of $1,356,000 in the prior year[270]. - The ratio of the total allowance for credit losses (ACL) to total gross loans increased to 1.04% as of September 30, 2025, compared to 1.01% as of September 30, 2024[270]. - The reserve for unfunded loan commitments remained unchanged at $21,500,000 as of September 30, 2025[270]. - The allowance for credit losses for commercial loans totaled $152,134,000, a decrease of $1,239,000 or 1% from the previous year[269]. - The allowance for credit losses for consumer loans totaled $47,586,000, a decrease of $2,794,000 or 6% from the previous year[269]. - The Company’s allowance for credit losses is comprised of $131,652,000 related to the quantitative component and $68,068,000 related to management's qualitative overlays[270]. - Management believes the total ACL is sufficient to absorb estimated losses inherent in the portfolio of loans and unfunded commitments[270]. Non-Performing Assets - Non-performing assets increased by 84.7% to $143,022,000, representing 0.54% of total assets as of September 30, 2025, compared to $77,418,000, or 0.28% of total assets, as of September 30, 2024[283]. - Total non-accrual loans reached $128,628,000 as of September 30, 2025, up from $69,541,000 in the previous year, primarily due to one commercial real estate loan over 90 days past due[282]. - The allowance for loan losses was $199,720,000, with a coverage ratio of 155% for non-accrual loans as of September 30, 2025, down from 293% the previous year[284]. - The ratio of total non-performing assets to total assets increased to 0.54% as of September 30, 2025, from 0.28% the previous year[283]. - The majority of real estate owned (REO) properties, totaling $11,084,000, are expected to be sold, with an increase of 142.7% from the previous year[284]. Investment Securities - Available-for-sale (AFS) investment securities increased by $960,492,000, or 37.3%, to $3,533,201,000 as of September 30, 2025, due to securities purchases and unrealized losses[286]. - The net unrealized loss for AFS securities decreased to $9,237,000 as of September 30, 2025, compared to $44,168,000 as of September 30, 2024[287]. - Held-to-maturity (HTM) investment securities increased by $208,830,000 to $645,802,000, or 47.8%, during the year ended September 30, 2025[288]. - The net unrealized loss on held-to-maturity securities was $33,063,000, compared to $35,926,000 the year prior[288]. - The composition of the investment portfolio was 44.6% variable rate and 55.5% fixed rate as of September 30, 2025, aimed at mitigating interest rate risk[341]. Financial Performance - Net income increased by $26,027,000, or 13.0%, to $226,068,000 for the year ended September 30, 2025, compared to $200,041,000 for the prior year[318]. - Net interest income for the year ended September 30, 2025, was $654,235,000, a decrease of $6,597,000 or 1.0% from the previous year, with a net interest margin of 2.58%[319]. - Non-interest income increased by $10,555,000, or 17.4%, to $71,247,000 for the year ended September 30, 2025, driven by higher prepayment fees and commission income from WaFd Insurance[323]. - Total non-interest expense decreased by $20,809,000, or 4.6%, to $427,463,000 in 2025, influenced by a reduction in compensation costs and FDIC premiums[324]. - The Company's efficiency ratio improved to 58.9% in 2025 from 62.1% in 2024, with total operating expenses as a percentage of average assets decreasing to 1.58% from 1.71%[325]. Deposits and Borrowings - Customer deposits totaled $21,437,636,000 as of September 30, 2025, reflecting a $63,666,000, or 0.3%, increase from $21,373,970,000 in the prior year[308]. - Transaction accounts increased by $489,347,000, or 4.1%, while time deposits decreased by $425,681,000, or 4.5%[308]. - Total borrowings decreased to $1,765,604,000 as of September 30, 2025, from $3,267,589,000 at the same date in 2024, with a weighted average rate of 2.50%[317]. - The Company has a credit line with the FHLB - DM providing $6,647,214,000 of additional borrowing capacity as of September 30, 2025[332]. Interest Rate and Asset Management - The interest rate spread improved to 2.32% as of September 30, 2025, up from 1.91% a year earlier, with the weighted-average rate on interest-earning assets decreasing by 12 basis points to 5.23%[350]. - Average interest-earning assets increased by 3.2% to $25,337,814,000 for the year ended September 30, 2025, compared to $24,559,665,000 for the previous year[354]. - Average interest-bearing customer deposit accounts rose by $2,408,182,000, or 14.7%, while average borrowings decreased by $1,819,187,000, or 42.9%[355]. - The net interest margin decreased to 2.58% for the year ended September 30, 2025, down from 2.69% for the previous year, with the yield on interest-earning assets decreasing by 30 basis points[353]. - The company was in compliance with all of its interest rate risk policy limits as of September 30, 2025[349]. Tax and Equity - The effective tax rate for 2025 was 21.95%, slightly up from 21.88% in 2024, with income tax expense increasing by $7,559,000, or 13.5%[327]. - Shareholders' equity increased to $3,039,575,000, or 11.38% of total assets, compared to $3,000,300,000, or 10.69% of total assets, in 2024, with 82.5% of net income returned to shareholders[331].