RJF · 10-Q · 2026Q2 · Full report

Net Interest Income Trends

RAYMOND JAMES FINANCIAL INC · 2026-08-05 · Importance 44 · Surprise 24 · From source text

Third-quarter 2026 combined net interest income and RJBDP fees from third-party banks were $658 million, approximately unchanged year over year. Growth in average Bank interest-earning assets, particularly securities-based and residential mortgage loans, offset lower short-term rates, $1.5 billion of senior-note interest expense, and lower average RJBDP balances swept to third-party banks. Nine-month combined net interest income and RJBDP fees declined slightly to $1.98 billion from $1.98 billion, as lower rates, lower RJBDP balances and senior-note interest expense offset Bank loan growth. The nine-month firmwide net interest margin declined to 2.72% from 2.78%, while average Bank loans held for investment increased to $54.3 billion from $48.1 billion.

Key facts

• Combined net interest income and RJBDP fees from third-party banks for the quarter ended June 30, 2026: $658 million, a slight increase compared with the prior-year quarter source
• Combined net interest income and RJBDP fees from third-party banks for the nine months ended June 30, 2026: $1,975 million (presented in table) and narrative states $1.98 billion, a slight decrease compared with the prior-year period source
• Firmwide net interest income for the nine months ended June 30, 2026: $1,683 million versus $1,596 million for the prior-year period source
• Average yield on RJBDP - third-party banks for the three months ended June 30, 2026: 2.75% source
• Average yield on RJBDP - third-party banks for the nine months ended June 30, 2026: 2.96% source

Impact estimates