0001174947-26-000564
SEC filingStrong quarter driven by net interest income expansion and expense discipline, with net income surging 65% YoY.
Non-interest expense declined, contributing to the bottom-line growth. The company benefited from lower costs associated with borrowed funds and efficient operational management. The provision for credit losses reflected changes in loan portfolio composition, with increases in commercial real estate loan volume and qualitative factors partially offset by lower individually evaluated allowances on student housing loans due to decreased balances. Commercial and industrial loan provisions decreased, driven by lower non-accrual loans and reduced loan volume.