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Ulster Savings Bank

Kingston, NY · Cert 15970

SI · FDIC · 15 branches

Q2 2026

$1.4BAssets
$1.0BLoans
$1.2BDeposits
$124.6MEquity
Loan mix
93%RE $965.1M5%C&I $52.4M2%Consumer $25.8MQ2 2025Q2 2026
Deposit mix
84%Interest-bearing $1.0B16%Noninterest $0.2BQ2 2025Q2 2026

NIM

4.15%Q2 ’244.31%Q2 ’254.39%Q2 ’26+11%+10%

Non-interest income vs. expense

3.24%Q2 ’243.30%Q2 ’253.40%Q2 ’26+2%+3%

Market Position · Kingston, NY · 2026 SOD (annual) · 19.1% share · #1 of 16 inst. · $1.0B of $5.0B

19.1% Ulster
2.7% Dutchess
0.5% Orange

Executive Summary

  • Earnings: ROA of 0.52%, up 12 bps year over year; NIM at 2.99%.
  • Asset quality: problem loans at 1.54% of loans (+12 bps YoY), with net charge-offs at 0.06%.
  • Capital: tier 1 leverage ratio of 9.79%, up 39 bps from a year ago.
  • Funding: loans stand at 84.49% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

0.52%+12 bps YoY

Net Interest Margin (quarter, annualized)

2.99%+28 bps YoY

Efficiency Ratio (quarter, annualized)

83.14%-421 bps YoY

Tier 1 Leverage Ratio

9.79%+39 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.39%0.49%0.56%0.59%0.52%+12 bps
Return on Equity4.77%5.87%6.47%6.71%5.78%+101 bps
Net Interest Margin2.72%2.78%2.91%2.98%2.99%+28 bps
Efficiency Ratio87.35%84.70%85.27%82.15%83.14%-421 bps
Non-Interest Burden2.23%2.17%2.32%2.22%2.30%+6 bps
Growth
Asset Growth (YoY)3.05%3.50%3.85%1.29%0.74%-231 bps
Loan Growth (YoY)-0.61%0.39%4.49%3.07%2.68%+330 bps
Deposit Growth (YoY)8.13%6.02%3.55%1.64%1.08%-705 bps
Asset Quality
Nonperforming Loans / Loans1.42%1.43%1.35%1.37%1.54%+12 bps
Net Charge-Offs / Loans0.01%0.06%0.02%0.00%0.06%+5 bps
Allowance / Loans1.16%1.15%1.08%1.10%1.09%-7 bps
Allowance Coverage of NPLs0.8x0.8x0.8x0.8x0.7x-0.1x
Capital
Tier 1 Leverage Ratio9.40%9.30%9.53%9.78%9.79%+39 bps
Total Risk-Based Capital14.93%15.17%15.07%15.49%15.18%+25 bps
Equity / Assets8.29%8.51%8.76%8.96%8.95%+67 bps
Liquidity & Funding
Loans / Deposits83.18%83.55%86.39%85.74%84.49%+132 bps
Liquid Assets / Assets6.67%7.16%4.73%5.74%7.38%+70 bps
CRE / Total Capitaln/a251%257%248%n/an/a