National Bank

Q2 FY2026 EarningsQ2 FY26 missed consensus across key GAAP metrics primarily due to significant acquisition-related charges following the Vista merger. GAAP revenue was $129.1M vs. $135.3M expected (-4.6%), and GAAP EPS of $0.58 was well below the $0.82 consensus (-29.3%). However, excluding $11.2M in pre-tax integration costs, adjusted EPS of $0.78 was nearly in-line with the normalized forecast. While acquisition costs weighed on the bottom line, record loan fundings of $926.9M and steady NIM FTE of 3.94% indicate healthy underlying asset performance.