
Executive Summary and Financial Highlights This section provides an overview of Home BancShares, Inc.'s Q2 2025 financial performance, highlighting record earnings and key profitability metrics Q2 2025 Performance Overview Home BancShares, Inc. reported record diluted EPS of $0.60 and net income of $118.4 million for Q2 2025, reflecting consistent strong performance. Total revenue increased to $271.0 million, and key profitability metrics like ROA and ROE also saw improvements - Diluted EPS of $0.60 and net income of $118.4 million are both records for HOMB, highlighting consistent performance2 Q2 2025 Performance Metrics | Metric | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | | :--- | :--- | :--- | :--- | :--- | :--- | | Net income (millions USD) | $118.4 | $115.2 | $100.6 | $100.0 | $101.5 | | Total revenue (net) (millions USD) | $271.0 | $260.1 | $258.4 | $258.0 | $254.6 | | Diluted earnings per share (USD) | $0.60 | $0.58 | $0.51 | $0.50 | $0.51 | | ROA (%) | 2.08 | 2.07 | 1.77 | 1.74 | 1.79 | | ROE (%) | 11.77 | 11.75 | 10.13 | 10.23 | 10.73 | | NIM (%) | 4.44 | 4.44 | 4.39 | 4.28 | 4.27 | | Non-performing assets to total assets (%) | 0.60 | 0.56 | 0.63 | 0.63 | 0.56 | | Common equity tier 1 capital (%) | 15.6 | 15.4 | 15.1 | 14.7 | 14.4 | | Book value per share (USD) | $20.71 | $20.40 | $19.92 | $19.91 | $19.30 | | Dividends per share (USD) | $0.20 | $0.195 | $0.195 | $0.195 | $0.18 | Stock Repurchases and Dividends This section details the company's capital return strategy, including share repurchases and dividend payments, reflecting commitment to shareholder value Shareholder Returns The Company repurchased 1.0 million shares of common stock in Q2 2025, maintaining a consistent repurchase volume with Q1 2025, resulting in a shareholder buyback yield of 0.49%. Additionally, a cash dividend of $0.20 per share was paid, marking a 2.6% increase from the previous quarter - The Company repurchased 1.0 million shares of common stock in Q2 2025, consistent with Q1 20254 Shareholder Return Metrics | Metric | Q2 2025 | Q1 2025 | | :--- | :--- | :--- | | Shares repurchased (millions) | 1.0 | 1.0 | | Shareholder buyback yield (%) | 0.49 | 0.53 | | Dividends per share (USD) | $0.20 | $0.195 | | Dividend increase (QoQ) (%) | 2.6 | - | Operating Highlights This section highlights the company's core operational performance, including net income, earnings per share, net interest margin, and a detailed breakdown of non-interest income and expenses Net Income and EPS For Q2 2025, net income reached a record $118.4 million, with diluted earnings per share at $0.60. Adjusted for non-fundamental items, net income was $114.6 million and diluted EPS was $0.58 Net Income and EPS Performance | Metric | Q2 2025 | Q1 2025 | | :--- | :--- | :--- | | Net income (millions USD) | $118.4 | $115.2 | | Diluted earnings per share (USD) | $0.60 | $0.58 | | Net income, as adjusted (non-GAAP) (millions USD) | $114.6 | $111.9 | | Diluted earnings per share, as adjusted (non-GAAP) (USD) | $0.58 | $0.56 | Net Interest Margin and Income The net interest margin remained stable at 4.44% for Q2 2025. Net interest income on a fully taxable equivalent basis increased to $222.5 million, driven by a $6.6 million increase in interest income, partially offset by a $1.3 million rise in interest expense Net Interest Margin and Income Metrics | Metric | Q2 2025 | Q1 2025 | | :--- | :--- | :--- | | Net interest margin (NIM) (%) | 4.44 | 4.44 | | Yield on loans (%) | 7.36 | 7.38 | | Rate on interest bearing deposits (%) | 2.64 | 2.67 | | Average loans (billions USD) | $15.06 | $14.89 | | Average interest-bearing deposits (billions USD) | $13.43 | $13.20 | | Net interest income (FTE) (millions USD) | $222.5 | $217.2 | | Event interest income (thousands USD) | $516 | $1.3 | | Purchase accounting accretion on acquired loans (millions USD) | $1.2 | $1.4 | - The increase in net interest income was primarily due to a $5.3 million increase in loan income and a $2.3 million increase in income from deposits with other banks, partially offset by a $1.0 million decrease in investment income8 Non-Interest Income and Expense Non-interest income for Q2 2025 was $51.1 million, with significant contributions from other income ($13.5 million) and service charges ($12.6 million). Non-interest expense totaled $116.0 million, primarily driven by salaries and employee benefits ($64.3 million). The efficiency ratio was 41.68% Non-Interest Income and Expense Breakdown | Metric | Q2 2025 | | :--- | :--- | | Non-interest income (millions USD) | $51.1 | | Other income (millions USD) | $13.5 | | Other service charges and fees (millions USD) | $12.6 | | Service charges on deposit accounts (millions USD) | $9.6 | | Trust fees (millions USD) | $5.2 | | Mortgage lending income (millions USD) | $4.8 | | Dividends from FHLB, FRB, FNBB and other (millions USD) | $2.7 | | Increase in cash value of life insurance (millions USD) | $1.4 | | Gain on sale of branches, equipment and other assets, net (thousands USD) | $972 | | Non-interest expense (millions USD) | $116.0 | | Salaries and employee benefits (millions USD) | $64.3 | | Other operating expense (millions USD) | $29.3 | | Occupancy and equipment expenses (millions USD) | $14.0 | | Data processing expenses (millions USD) | $8.4 | | Efficiency ratio (%) | 41.68 | | Efficiency ratio, as adjusted (non-GAAP) (%) | 42.01 | - Included within other income was $3.5 million in special income from equity investments and $885,000 in legal fee reimbursements. Other expense included $3.3 million in legal claims expense, partially offset by a $1.5 million FDIC assessment reduction910 Financial Condition This section analyzes the company's financial position, including trends in loans, deposits, and total assets, alongside a detailed assessment of asset quality and changes in stockholders' equity Loans, Deposits, and Assets Total loans receivable reached a record $15.18 billion at June 30, 2025, an increase of $228.5 million from the prior quarter, driven by both community banking and Centennial CFG organic growth. Total deposits slightly decreased to $17.49 billion, while total assets also saw a minor decrease to $22.91 billion Loans, Deposits, and Assets Overview | Metric | June 30, 2025 | March 31, 2025 | | :--- | :--- | :--- | | Total loans receivable (billions USD) | $15.18 | $14.95 | | Total deposits (billions USD) | $17.49 | $17.54 | | Total assets (billions USD) | $22.91 | $22.99 | | Organic loan growth (Community Banking) (millions USD) | $106.8 | - | | Organic loan growth (Centennial CFG) (millions USD) | $121.7 | - | - Total loans receivable of $15.18 billion were a record for the Company12 Asset Quality Non-performing loans and assets increased slightly in Q2 2025, with non-performing loans to total loans at 0.63% and non-performing assets to total assets at 0.60%. Net loans charged-off were $1.1 million for the quarter, a shift from net recoveries in the prior quarter Asset Quality Metrics | Metric | June 30, 2025 | March 31, 2025 | | :--- | :--- | :--- | | Non-performing loans to total loans (%) | 0.63 | 0.60 | | Non-performing assets to total assets (%) | 0.60 | 0.56 | | Net loans charged-off (recoveries) (millions USD) | $1.1 | ($4.1) | | Non-performing loans (millions USD) | $96.3 | $89.6 | | Non-performing assets (millions USD) | $137.8 | $129.4 | | Allowance for credit losses to total loans (%) | 1.86 | 1.87 | | Allowance for credit losses to total non-performing loans (%) | 292.72 | 312.27 | Net Charge-offs (Recoveries) by Region (Q2 2025) | Region | Charge-offs (thousands USD) | Recoveries (thousands USD) | Net charge-offs (recoveries) (thousands USD) | | :--- | :--- | :--- | :--- | | Texas | 2,588 | (2,172) | 416 | | Arkansas | 462 | (223) | 239 | | Centennial CFG | 181 | — | 181 | | Shore Premier Finance | 582 | (22) | 560 | | Florida | 245 | (577) | (332) | | Alabama | 13 | (2) | 11 | | Total | 4,071 | (2,996) | 1,075 | Non-Performing Loans and Assets by Region (June 30, 2025) | Region | Non-accrual loans (thousands USD) | Loans 90+ days past due (thousands USD) | Total non-performing loans (thousands USD) | Foreclosed assets held for sale (thousands USD) | Total non-performing assets (thousands USD) | | :--- | :--- | :--- | :--- | :--- | :--- | | Texas | 22,487 | 3,557 | 26,044 | 17,259 | 43,303 | | Arkansas | 16,276 | 2,341 | 18,617 | 863 | 19,480 | | Centennial CFG | 787 | — | 787 | 22,842 | 23,629 | | Shore Premier Finance | 11,716 | — | 11,716 | — | 11,716 | | Florida | 37,833 | 1,133 | 38,966 | 565 | 39,531 | | Alabama | 162 | — | 162 | — | 162 | | Total | 89,261 | 7,031 | 96,292 | 41,529 | 137,821 | Stockholders' Equity Stockholders' equity increased by $42.8 million to $4.09 billion at June 30, 2025, primarily due to a $78.9 million increase in retained earnings, partially offset by an increase in accumulated other comprehensive loss and stock repurchases. Book value per common share and tangible book value per common share both reached record highs Stockholders' Equity Metrics | Metric | June 30, 2025 | March 31, 2025 | | :--- | :--- | :--- | | Stockholders' equity (billions USD) | $4.09 | $4.04 | | Increase in stockholders' equity (QoQ) (millions USD) | $42.8 | - | | Increase in retained earnings (millions USD) | $78.9 | - | | Increase in accumulated other comprehensive loss (millions USD) | $11.4 | - | | Stock repurchases (millions USD) | $27.5 | - | | Book value per common share (USD) | $20.71 | $20.40 | | Tangible book value per common share (non-GAAP) (USD) | $13.44 | $13.15 | - Book value per common share and tangible book value per common share, as of June 30, 2025, were both records for the Company19 Branches This section provides an overview of the company's physical presence, detailing the number of branches operated across its various geographic markets Branch Network Home BancShares, Inc. operates a total of 217 branches across five states: Arkansas (75), Florida (78), Texas (58), Alabama (5), and New York City (1) Branch Count by State/City | State/City | Number of Branches | | :--- | :--- | | Arkansas | 75 | | Florida | 78 | | Texas | 58 | | Alabama | 5 | | New York City | 1 | | Total | 217 | Conference Call This section provides details for the upcoming conference call where management will discuss the Q2 2025 financial results and outlook Q2 2025 Earnings Call Details Management will host a conference call on Thursday, July 17, 2025, at 1:00 p.m. CT (2:00 p.m. ET) to discuss the Q2 2025 results. Participants are encouraged to pre-register via webcast or live call links, with replay options available until July 24, 2025 - A conference call to review Q2 2025 results will be held on Thursday, July 17, 2025, at 1:00 p.m. CT (2:00 p.m. ET)23 - Participants can pre-register for the webcast or live call, and a replay will be available until July 24, 20252324 About Home BancShares This section provides a concise overview of Home BancShares, Inc., including its history, operational scope through Centennial Bank, and stock exchange listing Company Profile Home BancShares, Inc. is an Arkansas-based bank holding company, founded in 1998, with its wholly-owned subsidiary Centennial Bank offering commercial and retail banking services across Arkansas, Florida, Texas, South Alabama, and New York City. Its common stock is traded on the NYSE under the symbol "HOMB." - Home BancShares, Inc. is a bank holding company headquartered in Conway, Arkansas, founded in 199826 - Its subsidiary, Centennial Bank, provides commercial and retail banking services with branches in Arkansas, Florida, Texas, South Alabama, and New York City26 - The Company's common stock is traded on the New York Stock Exchange under the symbol "HOMB."26 Non-GAAP Financial Measures This section clarifies the use and limitations of non-GAAP financial measures, explaining their purpose in providing supplemental insights into the company's core performance Explanation of Non-GAAP Measures The press release includes non-GAAP financial measures, such as adjusted net income, PPNR, adjusted ROA, ROE, ROTCE, and tangible book value, which management uses to provide supplemental information on performance. These measures adjust GAAP figures for tax benefits and significant non-recurring items to better reflect core business operations, but are not substitutes for GAAP results and may not be comparable to other companies' non-GAAP measures - The Company uses non-GAAP financial measures (e.g., adjusted net income, PPNR, adjusted ROA, ROE, ROTCE, tangible book value) to provide supplemental information on performance28 - These measures adjust GAAP performance for tax benefits and significant items not indicative of primary business operations28 - Non-GAAP disclosures should not be viewed as a substitute for GAAP results and may not be comparable to other companies' measures28 Forward-Looking Statements This section provides a disclaimer regarding forward-looking statements, outlining the inherent risks and uncertainties that could cause actual results to differ from projections Disclaimer and Risk Factors The release contains forward-looking statements about future plans and financial results, which are subject to inherent risks and uncertainties. Factors that could cause actual results to differ materially include economic conditions, credit quality, interest rates, acquisitions, regulatory changes, technological risks, and other factors detailed in SEC filings - The release contains forward-looking statements regarding future plans, expectations, goals, and outlook, which are not guarantees of future events31 - Forward-looking statements involve inherent risks and uncertainties, including economic conditions, credit quality, interest rates, loan demand, real estate values, and unemployment31 - Other factors include the ability to integrate acquisitions, access to capital, legislative and regulatory changes, technological risks, and impacts from natural disasters or public health crises31 Financial Statements and Non-GAAP Reconciliations This section presents comprehensive financial statements, including balance sheets and income statements, along with detailed reconciliations of GAAP to non-GAAP measures and shareholder buyback yield analysis Consolidated End of Period Balance Sheets The balance sheet shows total assets at $22.91 billion as of June 30, 2025, a slight decrease from March 31, 2025. Loans receivable increased to a record $15.18 billion, while total deposits saw a minor decrease to $17.49 billion. Stockholders' equity increased to $4.09 billion Consolidated End of Period Balance Sheets (Key Metrics) | Metric | Jun 30, 2025 (thousands USD) | Mar 31, 2025 (thousands USD) | Dec 31, 2024 (thousands USD) | Sep 30, 2024 (thousands USD) | Jun 30, 2024 (thousands USD) | | :--- | :--- | :--- | :--- | :--- | :--- | | Total assets | $22,907,022 | $22,992,203 | $22,490,748 | $22,823,117 | $22,919,905 | | Loans receivable, net | $14,898,755 | $14,672,172 | $14,488,620 | $14,511,405 | $14,485,601 | | Total deposits | $17,488,432 | $17,541,491 | $17,146,297 | $16,705,710 | $16,955,803 | | Total liabilities | $18,821,706 | $18,949,648 | $18,529,723 | $18,863,328 | $19,064,402 | | Total stockholders' equity | $4,085,316 | $4,042,555 | $3,961,025 | $3,959,789 | $3,855,503 | Consolidated Statements of Income For Q2 2025, total interest income was $319.1 million, with total interest expense at $99.2 million, resulting in net interest income of $219.9 million. Non-interest income was $51.1 million, and non-interest expense was $116.0 million. Net income for the quarter was $118.4 million Consolidated Statements of Income (Key Metrics) | Metric | Jun 30, 2025 (thousands USD) | Mar 31, 2025 (thousands USD) | Dec 31, 2024 (thousands USD) | Sep 30, 2024 (thousands USD) | Jun 30, 2024 (thousands USD) | | :--- | :--- | :--- | :--- | :--- | :--- | | Total interest income | $319,115 | $312,542 | $322,714 | $332,845 | $327,303 | | Total interest expense | $99,163 | $97,886 | $105,572 | $117,625 | $115,481 | | Net interest income | $219,952 | $214,656 | $217,142 | $215,220 | $211,822 | | Total credit loss expense | $3,000 | $— | $16,700 | $18,870 | $8,000 | | Total non-interest income | $51,079 | $45,426 | $41,222 | $42,779 | $42,774 | | Total non-interest expense | $116,040 | $112,928 | $112,210 | $110,045 | $113,185 | | Income before income taxes | $151,991 | $147,154 | $129,454 | $129,084 | $133,411 | | Net income | $118,403 | $115,209 | $100,564 | $100,038 | $101,530 | Selected Financial Information This section provides detailed per share data, annualized performance metrics, efficiency ratios, net interest margin, and a breakdown of other operating expenses. It also includes balance sheet ratios, a detailed loans receivable breakdown, allowance for credit losses, and non-performing assets Per Share Data | Metric | Jun 30, 2025 (USD) | Mar 31, 2025 (USD) | Dec 31, 2024 (USD) | Sep 30, 2024 (USD) | Jun 30, 2024 (USD) | | :--- | :--- | :--- | :--- | :--- | :--- | | Diluted earnings per common share | $0.60 | $0.58 | $0.51 | $0.50 | $0.51 | | Dividends per share - common | $0.20 | $0.195 | $0.195 | $0.20 | $0.18 | | Book value per common share | $20.71 | $20.40 | $19.92 | $19.91 | $19.30 | | Tangible book value per common share (non-GAAP) | $13.44 | $13.15 | $12.68 | $12.67 | $12.08 | Annualized Performance Metrics | Metric | Jun 30, 2025 (%) | Mar 31, 2025 (%) | Dec 31, 2024 (%) | Sep 30, 2024 (%) | Jun 30, 2024 (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Return on average assets (ROA) | 2.08 | 2.07 | 1.77 | 1.74 | 1.79 | | Return on average common equity (ROE) | 11.77 | 11.75 | 10.13 | 10.23 | 10.73 | | Return on average tangible common equity (ROTCE) (non-GAAP) | 18.26 | 18.39 | 15.94 | 16.26 | 17.29 | Efficiency and Profitability Ratios | Metric | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | | :--- | :--- | :--- | :--- | :--- | :--- | | Efficiency ratio (%) | 41.68 | 42.22 | 42.24 | 41.42 | 43.17 | | Net interest margin - FTE (NIM) (%) | 4.44 | 4.44 | 4.39 | 4.28 | 4.27 | | Pre-tax, pre-provision, net income (PPNR) (non-GAAP) (thousands USD) | $154,991 | $147,154 | $146,154 | $147,954 | $141,411 | | PPNR to total revenue (net) (non-GAAP) (%) | 57.19 | 56.58 | 56.57 | 57.35 | 55.54 | Loans Receivable Breakdown (In thousands) | Loan Type | Jun 30, 2025 (thousands USD) | Mar 31, 2025 (thousands USD) | Dec 31, 2024 (thousands USD) | Sep 30, 2024 (thousands USD) | Jun 30, 2024 (thousands USD) | | :--- | :--- | :--- | :--- | :--- | :--- | | Commercial real estate loans | $5,553,182 | $5,588,681 | $5,426,780 | $5,496,536 | $5,599,925 | | Construction/land development | $2,695,561 | $2,735,760 | $2,736,214 | $2,741,419 | $2,511,817 | | Residential 1-4 family | $2,138,990 | $1,947,872 | $1,956,489 | $1,932,352 | $1,910,143 | | Consumer | $1,218,834 | $1,227,745 | $1,234,361 | $1,219,197 | $1,189,386 | | Commercial and industrial | $2,107,326 | $2,045,036 | $2,022,775 | $2,084,667 | $2,242,072 | | Total loans receivable | $15,180,624 | $14,952,116 | $14,764,500 | $14,823,979 | $14,781,457 | Non-Performing Assets (In thousands) | Metric | Jun 30, 2025 (thousands USD) | Mar 31, 2025 (thousands USD) | Dec 31, 2024 (thousands USD) | Sep 30, 2024 (thousands USD) | Jun 30, 2024 (thousands USD) | | :--- | :--- | :--- | :--- | :--- | :--- | | Total non-performing loans | $96,292 | $89,647 | $98,887 | $101,103 | $86,341 | | Total other non-performing assets | $41,529 | $39,743 | $43,470 | $43,103 | $41,410 | | Total non-performing assets | $137,821 | $129,390 | $142,357 | $144,206 | $127,751 | | Non-performing loans to total loans (%) | 0.63 | 0.60 | 0.67 | 0.68 | 0.58 | | Non-performing assets to total assets (%) | 0.60 | 0.56 | 0.63 | 0.63 | 0.56 | Consolidated Net Interest Margin The consolidated net interest margin (FTE) remained stable at 4.44% for Q2 2025 and for the six months ended June 30, 2025. This section details average balances, income/expense, and rates for earning assets and interest-bearing liabilities Consolidated Net Interest Margin - FTE (Quarterly) | Metric | Jun 30, 2025 | Mar 31, 2025 | | :--- | :--- | :--- | | Total interest-earning assets (Average Balance) (thousands USD) | $20,082,933 | $19,826,038 | | Total interest-earning assets (Income) (thousands USD) | $321,641 | $315,076 | | Total interest-earning assets (Yield) (%) | 6.42 | 6.45 | | Total interest-bearing liabilities (Average Balance) (thousands USD) | $14,577,597 | $14,399,906 | | Total interest-bearing liabilities (Expense) (thousands USD) | $99,163 | $97,886 | | Total interest-bearing liabilities (Rate) (%) | 2.73 | 2.76 | | Net interest spread (%) | 3.69 | 3.69 | | Net interest income and margin - FTE (thousands USD) (%) | $222,478 (4.44) | $217,190 (4.44) | Consolidated Net Interest Margin - FTE (Six Months Ended) | Metric | Jun 30, 2025 | Jun 30, 2024 | | :--- | :--- | :--- | | Total interest-earning assets (Average Balance) (thousands USD) | $19,955,195 | $20,119,503 | | Total interest-earning assets (Income) (thousands USD) | $636,717 | $647,738 | | Total interest-earning assets (Yield) (%) | 6.43 | 6.47 | | Total interest-bearing liabilities (Average Balance) (thousands USD) | $14,489,242 | $14,694,387 | | Total interest-bearing liabilities (Expense) (thousands USD) | $197,049 | $227,806 | | Total interest-bearing liabilities (Rate) (%) | 2.74 | 3.12 | | Net interest spread (%) | 3.69 | 3.35 | | Net interest income and margin - FTE (thousands USD) (%) | $439,668 (4.44) | $419,932 (4.20) | Non-GAAP Reconciliations This section provides detailed reconciliations of GAAP to non-GAAP financial measures, including adjusted earnings, return on average assets, return on average common equity, return on average tangible common equity, efficiency ratio, PPNR, tangible book value per common share, and tangible common equity to tangible assets. Adjustments primarily relate to non-fundamental items like FDIC special assessment, BOLI death benefits, gains/losses on asset sales, and special income from equity investments Earnings, As Adjusted (Non-GAAP Reconciliation) | Metric | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | | :--- | :--- | :--- | :--- | :--- | :--- | | GAAP net income available to common shareholders (thousands USD) | $118,403 | $115,209 | $100,564 | $100,038 | $101,530 | | Total adjustments after-tax (thousands USD) | ($3,770) | ($3,274) | ($737) | ($1,044) | $2,386 | | Earnings, as adjusted (non-GAAP) (thousands USD) | $114,633 | $111,935 | $99,827 | $98,994 | $103,916 | | GAAP diluted earnings per share (USD) | $0.60 | $0.58 | $0.51 | $0.50 | $0.51 | | Diluted earnings per common share, as adjusted (non-GAAP) (USD) | $0.58 | $0.56 | $0.50 | $0.50 | $0.52 | Tangible Book Value Per Common Share (Non-GAAP Reconciliation) | Metric | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | | :--- | :--- | :--- | :--- | :--- | :--- | | Book value per common share (USD) | $20.71 | $20.40 | $19.92 | $19.91 | $19.30 | | Tangible book value per common share (non-GAAP) (USD) | $13.44 | $13.15 | $12.68 | $12.67 | $12.08 | | Total stockholders' equity (thousands USD) | $4,085,316 | $4,042,555 | $3,961,025 | $3,959,789 | $3,855,503 | | Goodwill (thousands USD) | $1,398,253 | $1,398,253 | $1,398,253 | $1,398,253 | $1,398,253 | | Core deposit and other intangibles (thousands USD) | $36,255 | $38,280 | $40,327 | $42,395 | $44,490 | Tangible Common Equity to Tangible Assets (Non-GAAP Reconciliation) | Metric | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | | :--- | :--- | :--- | :--- | :--- | :--- | | Equity to assets (%) | 17.83 | 17.58 | 17.61 | 17.35 | 16.82 | | Tangible common equity to tangible assets (non-GAAP) (%) | 12.35 | 12.09 | 11.98 | 11.78 | 11.23 | | Total assets (thousands USD) | $22,907,022 | $22,992,203 | $22,490,748 | $22,823,117 | $22,919,905 | Shareholder Buyback Yield The shareholder buyback yield for Q2 2025 was 0.49%, resulting from the repurchase of 1.0 million shares at a total cost of $27.4 million. This metric reflects the percentage of market capitalization spent on share repurchases Shareholder Buyback Yield | Metric | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | | :--- | :--- | :--- | :--- | :--- | :--- | | Shareholder buyback yield (%) | 0.49 | 0.53 | 0.05 | 0.56 | 0.67 | | Shares repurchased (thousands) | 1,000 | 1,000 | 96 | 1,000 | 1,400 | | Total share repurchase cost (thousands USD) | $27,448 | $29,785 | $2,454 | $26,965 | $32,847 | | Market capitalization beginning of period (thousands USD) | $5,603,284 | $5,628,361 | $5,387,632 | $4,785,914 | $4,933,582 | - Shareholder buyback yield is defined as the percentage of the Company's market capitalization spent on share repurchases, reflecting capital returned to shareholders by reducing outstanding shares4