- Northpointe Bancshares (NPB, Financial) reported a significant increase in net income to $15.0 million, or $0.49 per diluted share, for Q1 2025.
- The company completed its IPO in February 2025, raising $114.4 million in net proceeds.
- Loans held for investment increased by $719.4 million, driven by growth in AIO loans and MPP balances.
Northpointe Bancshares, Inc. (NPB), the holding company for Northpointe Bank, has reported a robust financial performance for the first quarter of 2025. The company announced a net income of $15.0 million, equating to $0.49 per diluted share, up from $8.8 million or $0.34 per diluted share in the fourth quarter of 2024. This marks a notable year-over-year improvement compared to $9.8 million or $0.38 per diluted share in Q1 2024.
The financial results reflect the success of Northpointe's differentiated and mortgage-focused business model. The company experienced a $1.1 billion growth in Mortgage Purchase Program (MPP) balances over the past year. Loans held for investment rose by $719.4 million (65% annualized) to $5.15 billion, with significant contributions from AIO loans and MPP balances.
The company successfully completed its initial public offering on February 13, 2025, issuing 10,420,000 shares, with net proceeds totaling $114.4 million. This strategic move is anticipated to enhance Northpointe's ability to deliver strong shareholder returns over time. The stock began trading under the ticker symbol "NPB" on February 14, 2025, on the New York Stock Exchange.
Northpointe declared a quarterly cash dividend of $0.025 per share, payable on May 2, 2025, to shareholders of record on April 15, 2025. The company's net interest margin also improved, reaching 2.35%, an 8 basis point increase from 2.27% in the previous quarter, driven by lower overall funding costs.
With total assets amounting to $5.86 billion at the end of the quarter, the company continues to focus on strengthening its loan portfolios, primarily AIO and MPP, and enhancing its financial performance through strategic growth avenues.
