John Marshall Bancorp, Inc. reported net income of $5.1 million for the second quarter ended June 30, 2025, an increase of 30.7% compared to $3.9 million in Q2 2024. Diluted earnings per common share rose by 33.3% to $0.36 from $0.27 in the prior year. Pre-tax, pre-provision earnings increased over 50% compared to Q2 2024.
The company achieved significant loan growth, increasing loans by $46.4 million, or 10% annualized, to $1.92 billion at June 30, 2025. New loan commitments booked during the quarter totaled $135.5 million, a more than 40% increase over Q1 commitments. Net interest income increased by $2.8 million, or 23.5%, to $14.9 million.
The annualized tax-equivalent net interest margin expanded to 2.70% from 2.19% in Q2 2024, driven by higher loan yields and lower interest-bearing liability rates. The efficiency ratio improved to 53.9% from 62.6% in the prior year quarter. The company reported no charge-offs and maintained strong asset quality, with the allowance for loan credit losses at $19.3 million, or 1.01% of outstanding loans.
Shareholders' equity increased by 7.8% to $253.7 million, with book value per share rising 7.8% to $17.83. The Bank's capital ratios remained well above regulatory thresholds for well-capitalized banks. The company's momentum is building, supported by strong asset quality, capital, and liquidity.
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