Financial Performance - Net income attributable to common stockholders for the quarter ended September 30, 2025, was $24.9 million, or $0.34 per share[23] - FFO for the quarter ended September 30, 2025, was $120.4 million, or $1.58 per share, net of transaction costs of $13.1 million[25] - The carrying value of the company's debt and preferred equity portfolio, excluding the company's investment in the SLG Opportunistic Debt Fund, was $289.7 million as of September 30, 2025[37] - The portfolio had a weighted average current yield of 8.8% as of September 30, 2025, or 11.2% excluding the effect of $63.0 million of investments that are on non-accrual[37] Portfolio & Leasing Activity - As of September 30, 2025, the company held interests in 53 buildings totaling 30.7 million square feet, including 27.1 million square feet in Manhattan buildings[2] - During the third quarter of 2025, the company signed 52 office leases in its Manhattan office portfolio totaling 657,942 square feet[30] - The average rent on the Manhattan office leases signed in the third quarter of 2025 was $92.81 per rentable square foot with an average lease term of 8.9 years[30] - Manhattan same-store office portfolio occupancy was 92.4% as of September 30, 2025, inclusive of 361,924 square feet of leases signed but not yet commenced[33] Investment & Financing Activity - The company entered into a contract to purchase Park Avenue Tower for $730.0 million in October 2025[34] - The company closed on the sale of a 5.0% interest in One Vanderbilt Avenue to Mori Building Co., Ltd for $86.6 million in September 2025, maintaining a 55.0% stake[35] - The company completed a $1.4 billion, five-year, fixed-rate refinancing of 11 Madison Avenue in September 2025 with a stated coupon of 5.625%[38] - An affiliate of the company extinguished the debt encumbering 1552-1560 Broadway, which had a total debt claim of $219.5 million, for $63.0 million in September 2025[40]

Financial Performance - Core FFO per share for 3Q 2025 was $0.60, representing a 1.7% growth compared to 3Q 2024[16] - Year-to-date 2025 Core FFO per share was $1.82, a 6% increase[16] - The company increased its 2025 Core FFO per share guidance by $0.01 at the midpoint, driven by strong leasing activity and capital recycling[12] - Same Property Portfolio Cash NOI Growth for 3Q 2025 was 1.9% and Net Effective NOI Growth was 4.9%[16] - Total Portfolio Cash NOI Growth for 3Q 2025 was 10.4% and Net Effective NOI Growth was 7.7%[16] Operational Highlights - Total leasing activity in 3Q 2025 reached 3.3 million square feet, with net effective leasing spreads of 26% and cash leasing spreads of 10%[12] - Repositioning and redevelopment leasing in 3Q 2025 accounted for 845,000 square feet, contributing to over 1.5 million square feet year-to-date, equating to $27 million of annualized NOI[12] - Average Same Property Occupancy was 96.5% in 3Q 2025, a 50 basis point increase compared to 2Q 2025[17] Capital Allocation and Balance Sheet - The company completed $188 million in dispositions year-to-date and recycled $150 million into share repurchases[12] - The company has $160 million in dispositions under contract/accepted offer[22] - The company boasts a strong balance sheet with a Net Debt/Adjusted EBITDAre ratio of 4.1x and $1.6 billion in liquidity[13] - The company has $450 million available under its $500 million share repurchase program[25]

Financial Performance - Q4 2025 net earnings reached $1518 million [15] - Q4 2025 adjusted earnings were $1550 million [15] - Q4 2025 core EBITDA was $2914 million with a 138% margin [15] - The company repurchased $500 million in shares during Q4 2025 [15] - FY 2025 Emerging Businesses Group (EBG) achieved record quarterly results driven by Tensar performance [14] - FY 2025 EBG adjusted EBITDA was $138 million, representing 15% of segment EBITDA [41] Strategic Initiatives and Growth - The company is targeting a $150 billion early-stage construction market for future growth [13, 16, 18] - The Transform, Advance, Grow (TAG) program is expected to generate over $150 million in annualized EBITDA benefit by the end of fiscal year 2026 [20] - The company announced pending acquisitions of Concrete Pipe & Precast (CP&P) and Foley Products Company (Foley), expected to close by the end of calendar year 2025 [3, 18] - The combined purchase price for Foley and CP&P is approximately $25 billion [70] - The acquisitions are expected to add approximately $250 million in annualized EBITDA with a ~34% EBITDA margin [22]

Financial Performance - Net income reached $53.5 million, compared to $45.5 million in the prior quarter[5] - HFI Loan growth was $478 million year-over-year, representing a 4% increase[5] - Core deposit growth amounted to $426 million quarter-over-quarter, which translates to a 14% annualized growth rate[5] - Return on average assets stood at 1.30%, while return on average equity was 11.33%, compared to 1.13% and 9.92% respectively in the previous quarter[5] Operational Efficiency - The GAAP efficiency ratio improved by 274 basis points quarter-over-quarter to 59.76%, while the adjusted non-GAAP efficiency ratio improved by 174 basis points to 58.54%[5] - Non-performing assets remained low at 0.27% of total assets, a decrease of 3 basis points from the previous quarter[5] Capital Allocation - The company repurchased 250,000 shares of its common stock at an average price of $63.11 per share[5] - A 4% increase in the dividend was announced, bringing it to $0.50 per share, to be paid in November 2025[5] Balance Sheet - Total assets of Banner Corporation are $16.6 billion[7] - Total deposits are $14.0 billion[7] - Total loans are $11.7 billion[7]

Portfolio Composition - As of September 30, 2025, the total portfolio comprised 417 properties, including 414 in service, 3 completed developments not in service, and 6 properties under construction[32] - The in-service portfolio's gross leasable area (GLA) totaled 68,526,496 square feet with an occupancy rate of 940%[32] - The company's same-store pool consisted of 395 properties, representing 63,390,096 square feet, which is 93% of the in-service square footage[34] Financial Performance - For the three months ended September 30, 2025, lease revenue was $179424 thousand, compared to $165909 thousand for the same period in 2024[15] - Net income available to common stockholders for the three months ended September 30, 2025, was $65306 thousand, compared to $99363 thousand for the same period in 2024[15] - Funds From Operations (FFO) for the three months ended September 30, 2025, was $103514 thousand, compared to $92479 thousand for the same period in 2024[16] - Same Store Revenues increased by 82% for the three months ended September 30, 2025, reaching $165101 thousand[34] Debt Analysis - As of September 30, 2025, total debt outstanding was $2412834 thousand, with a weighted average maturity of 38 years[21,22] - The weighted average interest rate on total debt was 411% for the three months ended September 30, 2025[22] Acquisitions and Dispositions - Total property acquisitions in 2025 amounted to $1463 million, including the purchase of Camelback 303 Buildings A & B in Phoenix for $1200 million[48] - Property sales in 2025 totaled $269 million, including the sale of 28435 Automation Blvd & 47711 Clipper Street in Detroit for $119 million[62]

Company Overview - Triumph Financial's market capitalization was $1.1 billion as of October 13, 2025 [10] - The company's revenue for the trailing twelve months (TTM) ending September 30, 2025, was $422 million [10] - Net income to common shareholders for the same period was $6.8 million [10] - The U S freight and logistics industry represents a $990 billion market based on gross freight revenue from U S trucking on primary shipments [13] - Trucking accounts for 72 6% of freight carried in the U S [13] Business Segments - Factoring's annualized revenue is $155 million [15] - Payments' annualized revenue is $73 million [15] - Intelligence's annualized revenue is $9 million [15] - Triumph Network includes 535 brokers, 57 factors, 75 shippers, and over 173,000 carriers (TTM) [15] - Triumph handles payments for 43 of the top 100 freight brokers, disbursing over $166 million every day [22] - Triumph is the second-largest transportation factoring firm, purchasing $47 million in invoices daily [23] Sustainable Business Practices - Women represent 61% of the company's overall team members [75] - Ethnic minorities represent 43% of the company's overall team members [75] - In 2024, 424 team members volunteered 8,366 hours, supporting 398 organizations [77] - $54,190 was donated through the Matching Gifts Program in 2024 [79]

Consolidated Results - Net sales reached $1,190.8 million, a 3.8% increase from $1,147.0 million in Q3 2024[10] - Organic sales increased by $34.8 million, representing a 3.0% gain[10] - Currency translation favorably impacted net sales by $9.0 million, contributing 0.8%[10] - Operating earnings before financial services increased by 10.3%, reaching $278.5 million compared to $252.4 million in Q3 2024, representing 23.4% of net sales versus 22.0% last year[10] - Diluted EPS increased by 6.8%, from $4.70 to $5.02[10] Segment Performance - Commercial & Industrial segment sales increased by 0.5% to $367.7 million, with organic sales decreasing by 0.8% or $2.8 million[11] - Snap-on Tools segment sales increased by 1.1% to $506.0 million, with organic sales up by 1.0% or $4.9 million[12] - Repair Systems & Information segment sales increased by 10.0% to $464.8 million, with organic sales up by 8.9% or $38.1 million[13] - Financial Services revenue increased by 0.7% to $101.1 million, while operating earnings decreased by 3.9%[14] Financial Position - Gross finance portfolio totaled $2,534.4 million as of Q3 2025[15] - Free cash flow was $256.7 million for the quarter[16]

Financial Performance - KeyCorp's EPS was $0.41, up 17% QoQ and 37% YoY[11] - Revenue increased by 3% QoQ and 17% YoY[11] - Net interest income (TE) was $1.193 billion, up 4% QoQ and 24% YoY[11] - Noninterest income was $702 million, up 2% QoQ and 8% YoY[11] - ROTCE was 12.5%, up 142 bps QoQ and 168 bps YoY[11] Balance Sheet and Capital - Average loans increased by $512 million QoQ[15] - Average deposits increased by 2% QoQ[18] - CET1 ratio was 11.8%[11] - Marked Common Equity Tier 1 was 10.3%, up 35 bps QoQ[12] - Assets Under Management (AUM) reached $68 billion, up 11% YoY[4] Credit Quality - NCOs / Average Loans was 42 bps[4] - NPAs / Loans + OREO was 63 bps[4] Outlook - Net Interest Income (TE) is expected to be up approximately 22% for FY2025 compared to FY2024[38] - Adjusted Noninterest Income is projected to increase by 5-6% for FY2025 compared to FY2024[38]

Financial Performance - M&T's revenues reached $2513 million in 3Q25[27] - Net income was $792 million in 3Q25[27] - Diluted EPS increased by 14% quarter-over-quarter (QoQ) and 20% year-over-year (YoY)[29] - Net interest margin increased by 6 bps QoQ and YoY to 368%[29] - Tangible book value per share increased by 3% QoQ and 7% YoY to $11531[30] Balance Sheet - Average loans increased by $11 billion QoQ[40] - Consumer loans rose by 3% (+$745 million) QoQ[40] - Residential real estate loans increased by 3% (+$675 million) QoQ[40] - Commercial real estate (CRE) loans declined by 4% (-$980 million) QoQ[40] - Commercial and industrial (C&I) loans grew by 1% (+$680 million) QoQ[40] Credit Quality - Criticized loans decreased by $584 million QoQ[69] - Net charge-offs as a percentage of average loans was 042% in 3Q25[27] Outlook - The company anticipates a net interest margin of 370% +/- in 4Q25[77]

Financial Performance & Growth - PNFP's 3Q25 linked-quarter annualized revenue growth rate was 31.5%[25] - Adjusted EPS grew 54.0% linked-quarter annualized in 3Q25[25] - Average loans grew 7.8% linked-quarter annualized in 3Q25[38] - Average deposits grew 11.3% linked-quarter annualized in 3Q25[45] - The industry is increasing its estimate for 2025 year-over-year net interest income growth to 13-14%[68] - The industry is increasing its estimate for 2025 fee growth over 2024 to approximately 20-22%, excluding certain items[68] Strategic Initiatives & Market Position - PNFP's FDIC deposit market share in Nashville increased by 7.3 percentage points from 2015 to 2025[27] - PNFP's offer acceptance rate for revenue producers remained high at 91.6% in 3Q25[36] - The industry plans to add approximately 150 revenue producers in 2026, with further increases planned for 2027[37] Merger with Synovus Financial Corp - The merger with Synovus is expected to result in a 21% EPS accretion by 2027[72] - Pro forma CET1 at close is projected to be 10.1%[72] - The merger is expected to close in Q1 2026, with operational conversion in Q1 2027[72] BHG Financial Overview - BHG reported strong year-to-date earnings of $189 million[63] - BHG's placements to institutional investors was a record in 3Q at $1.3 billion[179] - Over 80% of BHG's 2025 originations were to borrowers with FICO scores of 700+[191]