Northpointe Bancshares' Third-Quarter Profit Falls to $13.9 Million

Northpointe Bancshares, Inc. earned $13.9 million in the third quarter, down from the previous quarter and a year earlier, and signed a nonbinding letter of intent to sell two mortgage origination channels.

For the quarter ended Sept. 30, diluted earnings were $0.39 a share, compared with $0.60 a share on $21.3 million in the second quarter. Northpointe earned $0.57 a share on $20.1 million in the third quarter of 2025.

The latest results included a combined $9.3 million decline in the fair value of loans held for investment and a lender risk account. A $5 million increase in the value of mortgage servicing rights partly offset that decline.

Northpointe also recorded $3.1 million in losses from what it described as an isolated external deposit-fraud incident. The company has notified its insurers and plans to pursue potential recoveries.

The proposed transaction would transfer Northpointe’s distributed retail and consumer direct mortgage origination channels to CMG Financial. Northpointe anticipates closing the sale by the end of 2026, subject to due diligence, a definitive agreement and customary conditions.