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Northfield Savings Bank

Northfield, VT · Cert 14140 · Northfield MHC

SI · FDIC · 13 branches

Q2 2026

$1.6BAssets
$1.2BLoans
$1.3BDeposits
$156.8MEquity
Loan mix
91%RE $1.0B9%C&I $0.1B0%Consumer $0.0BQ3 2024Q2 2026
Deposit mix
79%Interest-bearing $1.1B21%Noninterest $0.3BQ3 2024Q2 2026

Market Position · Burlington-South Burlington, VT · 2026 SOD (annual) · 4.6% share · #6 of 15 inst. · $0.4B of $8.2B

46.3% Washington
5.2% Chittenden
10.8% Orange
3.0% Windsor

Executive Summary

  • Earnings: ROA of 0.82%, up 41 bps year over year; NIM at 2.98%.
  • Asset quality: problem loans at 0.52% of loans (-15 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 10.96%, up 61 bps from a year ago.
  • Funding: loans stand at 86.80% of deposits as of Q2 2026.

Return on Assets (quarter, annualized)

0.82%+41 bps YoY

Net Interest Margin (quarter, annualized)

2.98%+57 bps YoY

Efficiency Ratio (quarter, annualized)

70.47%-1,269 bps YoY

Tier 1 Leverage Ratio

10.96%+61 bps YoY

NIM

3.72%Q2 ’243.96%Q2 ’254.32%Q2 ’26+11%+24%

Non-interest income vs. expense

2.42%Q2 ’242.35%Q2 ’252.44%Q2 ’26-3%+1%

Discrete quarter, annualized.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.29%0.37%0.23%0.41%0.46%0.49%0.60%0.82%+41 bps
Return on Equity3.26%4.17%2.58%4.58%4.99%5.25%6.31%8.36%+378 bps
Net Interest Margin2.20%2.31%2.33%2.40%2.58%2.67%2.81%2.98%+57 bps
Efficiency Ratio88.52%85.82%89.72%83.16%81.62%77.02%76.76%70.47%-1,269 bps
Non-Interest Burden1.90%1.91%2.05%1.93%2.01%1.94%2.06%1.95%+3 bps
Growth
Asset Growth (YoY)5.56%3.56%3.60%4.14%3.94%3.35%1.32%1.01%-312 bps
Loan Growth (YoY)6.27%5.86%3.91%2.66%4.62%4.25%4.27%4.42%+175 bps
Deposit Growth (YoY)8.16%3.64%4.78%6.85%8.52%10.46%3.50%3.79%-306 bps
Asset Quality
Nonperforming Loans / Loans0.19%0.49%0.63%0.67%0.79%0.58%0.55%0.52%-15 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.01%0.06%0.01%0.01%0.00%-1 bps
Allowance / Loans0.78%0.78%0.80%0.81%0.79%0.85%0.87%0.88%+7 bps
Allowance Coverage of NPLs4.0x1.6x1.3x1.2x1.0x1.5x1.6x1.7x+0.5x
Capital
Tier 1 Leverage Ratio10.30%10.30%10.21%10.36%10.36%10.23%10.70%10.96%+61 bps
Total Risk-Based Capital10.30%10.30%10.21%10.36%10.36%10.23%10.70%10.96%+61 bps
Equity / Assets8.99%8.56%8.92%9.14%9.31%9.44%9.73%9.95%+80 bps
Liquidity & Funding
Loans / Deposits88.21%89.18%85.62%86.28%85.04%84.17%86.25%86.80%+52 bps
Liquid Assets / Assets0.65%0.22%0.33%0.37%0.97%1.56%0.21%1.37%+100 bps
CRE / Total Capitaln/an/an/an/a257%257%251%n/an/a