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Merrimack County Savings Bank

Concord, NH · Cert 17960 · New Hampshire Mutual Bcorp

SI · FDIC · 2 affiliate banks · 9 branches (31 in holding)

Q2 2026

$1.4BAssets
$1.2BLoans
$1.2BDeposits
$125.7MEquity
Loan mix
72%RE $825.9M9%C&I $102.7M19%Consumer $222.1MQ3 2024Q2 2026
Deposit mix
84%Interest-bearing $975.6M16%Noninterest $188.8MQ3 2024Q2 2026

Market Position · Manchester-Nashua, NH · 2026 SOD (annual) · 0.4% share · #19 of 24 inst. · $0.1B of $15.4B

18.8% Merrimack
0.4% Hillsborough
0.0% Rockingham

Executive Summary

  • Earnings: ROA of 0.42%, up 19 bps year over year; NIM at 3.24%.
  • Asset quality: problem loans at 0.64% of loans (-3 bps YoY), with net charge-offs at 0.25%.
  • Capital: tier 1 leverage ratio of 9.76%, up 10 bps from a year ago.
  • Funding: loans stand at 101.80% of deposits as of Q2 2026.

Return on Assets (quarter, annualized)

0.42%+19 bps YoY

Net Interest Margin (quarter, annualized)

3.24%+44 bps YoY

Efficiency Ratio (quarter, annualized)

76.84%-1,040 bps YoY

Tier 1 Leverage Ratio

9.76%+10 bps YoY

NIM

4.50%Q2 ’244.78%Q2 ’254.90%Q2 ’26+9%+16%

Non-interest income vs. expense

2.24%Q2 ’242.71%Q2 ’252.71%Q2 ’26+23%+1%

Discrete quarter, annualized.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets-0.07%0.27%0.29%0.23%0.34%0.22%0.53%0.42%+19 bps
Return on Equity-0.87%3.18%3.40%2.64%3.76%2.44%5.93%4.69%+204 bps
Net Interest Margin2.57%2.71%2.76%2.80%2.98%3.08%3.13%3.24%+44 bps
Efficiency Ratio81.64%80.91%83.10%87.23%84.79%74.31%75.20%76.84%-1,040 bps
Non-Interest Burden2.04%2.12%2.24%2.40%2.48%2.19%2.29%2.41%+2 bps
Growth
Asset Growth (YoY)1.47%-1.05%-0.33%-2.37%-2.32%2.25%2.70%4.12%+649 bps
Loan Growth (YoY)-0.08%-1.25%-1.51%-2.64%-2.15%0.35%0.49%3.37%+601 bps
Deposit Growth (YoY)1.46%8.76%10.85%5.04%4.44%1.31%2.46%5.86%+82 bps
Asset Quality
Nonperforming Loans / Loans0.59%0.63%0.66%0.67%0.65%0.49%0.71%0.64%-3 bps
Net Charge-Offs / Loans0.90%0.16%0.07%0.08%0.13%0.78%0.12%0.25%+17 bps
Allowance / Loans1.01%1.07%1.09%1.12%1.11%1.11%1.13%1.14%+2 bps
Allowance Coverage of NPLs1.7x1.7x1.7x1.7x1.7x2.3x1.6x1.8x+0.1x
Capital
Tier 1 Leverage Ratio9.30%9.44%9.55%9.66%9.80%9.57%9.56%9.76%+10 bps
Total Risk-Based Capital13.45%13.69%13.75%13.80%14.00%13.96%14.18%14.00%+21 bps
Equity / Assets8.53%8.52%8.72%8.83%9.03%8.90%8.96%8.93%+11 bps
Liquidity & Funding
Loans / Deposits111.15%102.68%103.42%104.25%104.14%101.70%101.43%101.80%-245 bps
Liquid Assets / Assets1.63%1.09%1.59%0.92%2.06%3.74%3.47%2.01%+109 bps
CRE / Total Capitaln/an/an/an/a243%249%251%n/an/a