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Northpointe Bancshares to exit two mortgage channels, sell to CMG Financial; Q3 net income falls to $13.9M
Filed October 20, 2026 · Period ending October 20, 2026 · ~1 min read
Key Changes
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Boards approved a plan to exit distributed retail and consumer direct mortgage origination channels, with a non-binding letter of intent to sell them to CMG Financial.
Item 2.05 verify on EDGAR → -
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Q3 2026 net income to common stockholders was $13.9 million, or $0.39 per diluted share, down from $21.3 million in Q2 2026 and $20.1 million in Q3 2025.
Exhibit 99.1 view on EDGAR → -
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Company estimates restructuring charges of $6 million to $7 million, primarily severance and employee transition costs, plus an $800,000 intangible asset impairment, with most charges in Q4 2026.
Item 2.05 verify on EDGAR → -
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Q3 results included a $9.3 million combined fair value decline in loans held for investment and lender risk account, partially offset by a $5.0 million increase in mortgage servicing rights fair value.
Exhibit 99.1 view on EDGAR → -
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Board increased the regular quarterly cash dividend to $0.03 per share from $0.025, payable November 4, 2026 to stockholders of record October 15, 2026.
Exhibit 99.1 view on EDGAR →
Summary
Northpointe Bancshares announced a strategic exit from its distributed retail and consumer direct mortgage origination channels, with a non-binding letter of intent to sell those channels to CMG Financial. The company expects to close the transaction by the end of 2026, subject to due diligence and a definitive agreement.
Restructuring charges are estimated at $6 million to $7 million, mostly in the fourth quarter of 2026, plus an $800,000 intangible asset impairment. Third-quarter 2026 net income fell to $13.9 million, or $0.39 per diluted share, from $21.3 million in the prior quarter.
The decline was driven by a $9.3 million combined fair value decrease in loans held for investment and lender risk account, partially offset by a $5.0 million increase in mortgage servicing rights fair value. The company also recorded a $3.1 million operational loss from an isolated external deposit fraud incident. The board increased the quarterly dividend to $0.03 per share, a 20% increase. Management will host a conference call on October 21, 2026 to discuss results and the planned transaction.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Northpointe Bancshares announced Q3 2026 financial results via press release furnished as Exhibit 99.1.
Added in current filing · verify on EDGAR →
On October 20, 2026, Northpointe Bancshares, Inc. (the “Company”), the holding company for Northpointe Bank (“the Bank”) issued a press release announcing its financial results for the quarter ended September 30, 2026.
The Company issued a press release disclosing its financial results for the third quarter of 2026. The press release is furnished as Exhibit 99.1 and incorporated by reference into the 8-K. Specific financial figures are not included in the 8-K body itself.
Event · Item 2.05 — Costs Associated with Exit or Disposal Activities
Item 2.05 — Costs Associated with Exit or Disposal Activities filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On October 18, 2026, the Boards of Directors of the Company and the Bank approved a plan to exit the Bank's distributed retail and consumer direct mortgage origination channels (the "Exit Plan").
The company's boards approved a plan to exit two mortgage origination channels. This is a strategic decision to refocus on businesses with stronger competitive advantages, including its Mortgage Purchase Program, Specialty Servicing, and Digital Banking businesses.
Added in current filing · verify on EDGAR →
The Company expects to realize the majority of these charges during the fourth quarter of 2026.
Most of the restructuring costs will be recognized in the fourth quarter of 2026, which will impact near-term earnings.
Added in current filing · verify on EDGAR →
This estimate of restructuring costs is based on a number of assumptions. Actual results may differ materially, and additional charges not currently expected may be incurred in connection with, or as a result of, the workforce reduction.
The company cautions that actual restructuring costs may differ materially from current estimates and additional charges could arise from the workforce reduction. The company will file an amendment if charges differ materially from current estimates.
Event · Item 7.01 — Regulation FD Disclosure
Northpointe Bancshares furnished supplemental Q3 2026 financial information and announced an October 21 conference call.
Show 2 minor / wording changes
Added in current filing · verify on EDGAR →
On October 20, 2026, the Company made available supplemental financial information containing additional information about the Company’s financial results for the quarter ended September 30, 2026.
The company furnished supplemental financial information as Exhibit 99.2, providing additional detail on Q3 2026 results. This is a routine Regulation FD disclosure accompanying earnings.
Added in current filing · verify on EDGAR →
On October 21, 2026, the Company will host a conference call to discuss financial results for the quarter ended September 30, 2026.
Management will host a conference call the day after the filing to discuss Q3 2026 results. This is standard practice for earnings announcements.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
net income to common stockholders of $13.9 million, or $0.39 per diluted share, for the third quarter of 2026
The company reported net income to common stockholders of $13.9 million, or $0.39 per diluted share, for Q3 2026. This is down from $21.3 million, or $0.60 per diluted share, in Q2 2026 and $20.1 million, or $0.57 per diluted share, in Q3 2025.
Added in current filing · view on EDGAR →
The Company also announced today it plans to sell the distributed retail and consumer direct mortgage origination channels to CMG Financial and its affiliates (“CMG”). The Company and CMG have entered into a non-binding letter of intent regarding the proposed transaction.
Northpointe announced plans to sell its distributed retail and consumer direct mortgage origination channels to CMG Financial under a non-binding letter of intent. The company anticipates closing by the end of 2026, subject to due diligence, definitive agreement, and customary closing conditions.
Added in current filing · view on EDGAR →
$9.3 million combined decrease in fair value of loans held for investment (“HFI”) and lender risk account (“LRA”), partially offset by a $5.0 million increase in fair value of mortgage servicing rights (“MSRs”), collectively driven by an increase in market interest rates.
Q3 results were negatively impacted by a $9.3 million combined fair value decline in loans HFI and LRA, partially offset by a $5.0 million increase in MSR fair value, driven by higher market interest rates. The company also recorded $3.1 million in operational losses from an isolated external deposit fraud incident.
Event · Exhibit 99.2
Added in current filing · view on EDGAR →
Net Income Available To Common Stockholders $ 13,922 $ 21,293 $ 20,132
Net income available to common stockholders fell to $13.9 million in Q3 2026, down from $21.3 million in the prior quarter and $20.1 million a year earlier. The decline was driven by a $9.3 million combined decrease in fair value of loans held for investment and lender risk account, partially offset by a $5.0 million increase in fair value of mortgage servicing rights.
Added in current filing · view on EDGAR →
$3.1 million in operational losses within non-interest expense resulting from an isolated external deposit fraud incident within the retail banking center. The Company has notified its insurance carriers and plans to pursue all potential recoveries.
The company recorded a $3.1 million operational loss from an isolated external deposit fraud incident at its retail banking center. Northpointe has notified its insurance carriers and plans to pursue recoveries, but the loss is currently reflected in non-interest expense.
Added in current filing · view on EDGAR →
The Company also announced today it plans to sell the distributed retail and consumer direct mortgage origination channels to CMG Financial and its affiliates (“CMG”). The Company and CMG have entered into a non-binding letter of intent regarding the proposed transaction.
Northpointe plans to sell its distributed retail and consumer direct mortgage origination channels to CMG Financial under a non-binding letter of intent. The company expects the transaction to close by the end of 2026, subject to due diligence, a definitive agreement, and customary closing conditions.
Added in current filing · view on EDGAR →
Mortgage Purchase Program (“MPP”) growth of $262.7 million, or 27% annualized, net of balances participated to other institutions totaling $368.3 million at quarter end
The Mortgage Purchase Program grew $262.7 million, or 27% annualized, net of $368.3 million in balances participated to other institutions. This is the company's core strategic focus following the planned exit from distributed retail and consumer direct mortgage origination.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 21, 2026 · How we verify