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United Bank of Michigan

Grand Rapids, MI · Cert 11807 · United Bank Financial Corp.

State charter, non-member · FDIC · 13 branches

Q2 2026

$1.1BAssets
$864.3MLoans
$892.7MDeposits
$110.6MEquity
Loan mix
97%RE $818.8M2%C&I $19.3M0%Consumer $3.6MQ2 2025Q2 2026
Deposit mix
78%Interest-bearing $694.1M22%Noninterest $198.5MQ2 2025Q2 2026

NIM

4.69%Q2 ’244.88%Q2 ’255.03%Q2 ’26+8%+10%

Non-interest income vs. expense

2.72%Q2 ’242.62%Q2 ’252.71%Q2 ’26-6%+3%

Market Position · Grand Rapids-Wyoming-Kentwood, MI · 2026 SOD (annual) · 1.4% share · #12 of 28 inst. · $0.5B of $34.4B

27.6% Allegan
1.5% Kent
0.9% Ottawa
5.2% Ionia

Executive Summary

  • Earnings: ROA of 1.29%, up 27 bps year over year; NIM at 3.57%.
  • Asset quality: problem loans at 0.06% of loans (+1 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 10.61%, up 65 bps from a year ago.
  • Funding: loans stand at 96.82% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.29%+27 bps YoY

Net Interest Margin (YTD, annualized)

3.57%+33 bps YoY

Efficiency Ratio (YTD, annualized)

62.37%-340 bps YoY

Tier 1 Leverage Ratio

10.61%+65 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.02%1.10%1.13%1.15%1.29%+27 bps
Return on Equity10.63%11.42%11.67%11.66%12.78%+214 bps
Net Interest Margin3.24%3.24%3.29%3.39%3.57%+33 bps
Efficiency Ratio65.77%63.97%64.05%64.09%62.37%-340 bps
Non-Interest Burden1.88%1.80%1.83%1.92%1.94%+6 bps
Growth
Asset Growth (YoY)4.27%7.44%8.44%3.00%2.26%-202 bps
Loan Growth (YoY)2.48%4.91%4.10%2.90%5.61%+312 bps
Deposit Growth (YoY)4.16%7.47%9.92%4.19%3.36%-80 bps
Asset Quality
Nonperforming Loans / Loans0.05%0.15%0.11%0.07%0.06%+1 bps
Net Charge-Offs / Loans0.14%0.09%0.05%0.00%0.00%-14 bps
Allowance / Loans1.01%1.04%1.08%1.06%1.06%+5 bps
Allowance Coverage of NPLs21.6x6.9x9.5x15.9x17.2x-4.4x
Capital
Tier 1 Leverage Ratio9.96%9.91%10.01%10.17%10.61%+65 bps
Total Risk-Based Capital9.96%9.91%10.01%10.17%10.61%+65 bps
Equity / Assets9.71%9.73%9.86%9.91%10.41%+70 bps
Liquidity & Funding
Loans / Deposits94.76%96.32%93.66%90.24%96.82%+206 bps
Liquid Assets / Assets7.44%5.93%6.23%8.24%4.28%-317 bps
CRE / Total Capitaln/a593%574%568%n/an/a