KBRA releases its third-quarter 2025 U.S. Bank Compendium, providing the latest view of the U.S. banking industry and analysis of 3Q25 results for publicly traded U.S. banks with KBRA ratings.

In this edition, we examine how KBRA-rated banks continue to benefit from rate cuts by the Federal Open Market Committee (FOMC) that began in late 2024. Net interest margin (NIM) expansion continues to support growth in earnings, helping to offset modestly rising expenses and credit costs. While overall credit quality remains solid, recent trends in credit metrics reflect lingering stress within pockets of commercial real estate, although credit losses continued to track near historical lows. In addition, we highlight how improved earnings and moderate loan growth have prompted banks to increase share repurchase activity while sustaining sound capital levels. Lastly, we discuss non-depository financial institution (NDFI) lending by banks and how this has largely been dominated by larger institutions, with few KBRA-rated banks reporting an increase in this form of lending.

The Compendium includes 3Q25 summaries on all publicly traded U.S. banks in KBRA’s rated universe, focusing on key performance and credit metrics, along with medians of key ratios. The Compendium also includes the top 10 lowest cost deposit franchises, highest reserves to loans, and largest sequential changes in return on assets, NIM, net charge-offs, and nonperforming asset ratios. Further, we provide a detailed supplement of KBRA-rated debt issues—along with rating, amount issued, coupon, and maturity.

Click here to view the report.

Related Publications

• Third-Quarter 2025 U.S. Bank Compendium Bank Debt Worksheet
• Third-Quarter 2025 U.S. Bank Compendium Ratio Spreadsheet

About KBRA

KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions.

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