0001077428-26-000052
SEC filingNet income and diluted EPS rose sharply year-over-year, driven by higher average earning assets and lower funding costs — not credit quality or loan growth acceleration.
Net income for Q1 FY2026 was $73.8 million, an increase of 56.8% compared to $47.0 million in Q1 FY2025. Diluted earnings per share was $1.56, up 69.6% from $0.92 in the prior-year quarter. The increase was primarily due to an increase in average earning assets and a decrease in funding costs — a dynamic that reflects disciplined balance sheet management and favorable interest rate positioning. This driver is explicitly cited in the filing’s Full Filing Text as the principal cause of the earnings improvement, and no alternative drivers (e.g., credit quality shifts, loan growth acceleration, or one-time gains) are supported by the authoritative financial packet.