Northpointe Bancshares Reports Q3 2026 Results Amid Strategic Divestiture of Mortgage Origination Channels
Northpointe Bancshares (NPB) reported third-quarter 2026 net income of $13.9 million, which was impacted by a $3.1 million operational loss due to an isolated deposit fraud incident and $4.3 million in fair value declines from rate movements. Despite these headwinds, the company saw significant growth in total deposits, reaching $5.44 billion (up 16% annualized), and expanded its All-in-One loan balances by 50% annually. The company is undergoing a major strategic pivot, announcing the sale of its distributed retail and consumer direct mortgage origination channels to CMG Financial. This divestiture aims to refocus resources on the Mortgage Purchase Program and specialty finance divisions. Management expects this shift to drive significant annualized expense savings of $50 million to $55 million starting in 2027.