MYFW · MYFW Q2 FY2026 earnings call record财报电话会记录

“This resulted in another quarter of solid profitability.”

“Our net interest margin increased 9 basis points from the prior quarter to 2.9%.”

“The yield on interest earning assets increased 4 basis points, driven by a favorable shift toward higher yielding loans, while the cost of funds declined 4 basis points due to an improved funding mix and lower rates on time deposits.”

“Our net interest income increased 21.7% from the second quarter of 2025 due to a 23 basis point increase in net interest margin and an increase in average interest-earning assets.”

“This was primarily due to a decrease in net gain on sale of mortgage loans, given lower origination volume due to higher mortgage rates, a decrease in risk management and insurance fees, partially offset by an increase in bank fees.”

“Our efficiency ratio was 74.03%, compared to 73.11% last quarter and 78.83% in the second quarter of 2025.”

“Going forward, we expect quarterly non-interest expense to be between $20 million and $21 million, and we will continue to exercise disciplined expense control.”

“Turning to slide 13, I'll wrap up with some comments about our outlook.”

“We had a net margin expansion of 26 basis points in 2025 and another 19 basis points so far in 2026.”

“I think we are going to see a higher expense, which is why we're guiding now to $20 million-$21 million instead of $19 million-$20 million.”

“We haven't necessarily seen pressure from our existing depositors on deposit rates, but that cost of new acquisition has certainly crept up a bit.”

“I think if you go back two or three quarters, we had 0.01 or 0.02, but it's basically been zero most quarters recently and most quarters over the last 20 years.”