Northpointe Bancshares, Inc. Announces Completion of Definitive Agreement with CMG to Sell Mortgage Origination Channels

Northpointe Bancshares authorized a $30M stock repurchase program, starting Oct. 22, 2026, and ending Oct. 22, 2027. Repurchases can occur in open market or private transactions, using Rule 10b5-1 plans. The program is optional and may be modified or terminated. The company aims to allocate capital prudently while growing its franchise and shareholder value, according to the filing.

Northpointe Bank plans to exit retail mortgage origination, transitioning teams to CMG Financial. The move, expected to close by year-end, aims to cut annual expenses by $50M-$55M. Northpointe will focus on financing other mortgage lenders. CMG, which has acquired similar operations before, may offer jobs to affected employees.

Northpointe Bancshares (NPB) reported Q3 net income of $21.3M, down from the prior quarter. Management expects gain-on-sale revenue to decline significantly by 2027. Net interest income rose $1.2M, with full-year 2026 net interest margin guidance maintained at 2.3% to 2.4%. MPP balances grew, and the company projected year-end 2026 MPP balances of $4.1B to $4.3B. The board increased the quarterly dividend to $0.03 per share.

Northpointe Bancshares (NPB) reported Q3 2026 earnings below estimates, with EPS of $0.39 vs. $0.60 expected. The company plans to exit retail and consumer direct mortgage origination, selling these operations to CMG Financial. Net income fell to $13.9M from $21.3M, driven by loan fair value decreases and a deposit fraud incident. The stock dropped 8.75% to $14.40. Management expects annualized expense savings of $50M-$55M starting in 2027.

Northpointe Bancshares missed Q3 2026 earnings and revenue estimates, reporting $0.39 EPS and $55.91M revenue. Shares fell 7.73% in after-hours trading. The company plans to exit its mortgage origination business, citing long-term profitability. Management raised the dividend and maintained guidance for net interest margin and expenses. Analysts questioned the timing of the mortgage channel sale and how lost income will be replaced.

NORTHPOINTE BANCSHARES INC (NPB) filed an SEC Form 8-K — Results of Operations and Financial Condition. NORTHPOINTE BANCSHARES, INC. REPORTS THIRD QUARTER 2026 RESULTS Announces Strategic Decision to Sell Distributed Retail and Consumer Direct Mortgage Origination Channels GRAND RAPIDS, MICHIGAN, October 20, 2026 – Northpointe Bancshares, Inc. (NYSE: NPB) ( “ Northpointe ” or the “