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State Bank of Southern Utah

Cedar City, UT · Cert 17964 · Southern Utah Bcorp

State charter, non-member · FDIC · 17 branches

Q2 2026

$2.7BAssets
$1.9BLoans
$2.4BDeposits
$312.2MEquity
Loan mix
88%RE $1.7B10%C&I $0.2B2%Consumer $0.0BQ2 2025Q2 2026
Deposit mix
77%Interest-bearing $1.8B23%Noninterest $0.5BQ2 2025Q2 2026

NIM

4.62%Q2 ’245.32%Q2 ’255.65%Q2 ’26+29%+17%

Non-interest income vs. expense

1.87%Q2 ’241.91%Q2 ’252.09%Q2 ’26+1%+5%

Market Position · St. George, UT · 2026 SOD (annual) · 18.8% share · #2 of 10 inst. · $0.7B of $4.0B

70.8% Iron
18.8% Washington
61.4% Kane
32.4% Sanpete

Executive Summary

  • Earnings: ROA of 1.76%, up 39 bps year over year; NIM at 3.88%.
  • Asset quality: problem loans at 0.47% of loans (+2 bps YoY), with net charge-offs at 0.26%.
  • Capital: tier 1 leverage ratio of 12.04%, up 106 bps from a year ago.
  • Funding: loans stand at 80.32% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.76%+39 bps YoY

Net Interest Margin (YTD, annualized)

3.88%+57 bps YoY

Efficiency Ratio (YTD, annualized)

45.84%-339 bps YoY

Tier 1 Leverage Ratio

12.04%+106 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.37%1.50%1.49%1.82%1.76%+39 bps
Return on Equity13.93%14.81%14.38%16.11%15.58%+165 bps
Net Interest Margin3.31%3.48%3.64%3.98%3.88%+57 bps
Efficiency Ratio49.23%49.43%50.15%44.33%45.84%-339 bps
Non-Interest Burden1.37%1.45%1.56%1.37%1.44%+6 bps
Growth
Asset Growth (YoY)5.22%-0.70%3.62%4.28%3.80%-142 bps
Loan Growth (YoY)15.43%10.40%9.71%7.49%4.62%-1,081 bps
Deposit Growth (YoY)11.41%6.45%8.25%8.74%5.90%-550 bps
Asset Quality
Nonperforming Loans / Loans0.44%0.57%0.55%0.55%0.47%+2 bps
Net Charge-Offs / Loans0.01%0.01%0.01%0.01%0.26%+26 bps
Allowance / Loans1.22%1.21%1.28%1.30%1.22%+1 bps
Allowance Coverage of NPLs2.8x2.1x2.3x2.4x2.6x-0.1x
Capital
Tier 1 Leverage Ratio10.98%11.43%11.82%12.03%12.04%+106 bps
Total Risk-Based Capital10.98%11.43%11.82%12.03%12.04%+106 bps
Equity / Assets10.03%11.03%11.23%11.30%11.40%+137 bps
Liquidity & Funding
Loans / Deposits81.30%81.69%82.35%81.82%80.32%-99 bps
Liquid Assets / Assets3.39%1.75%3.73%5.48%6.95%+356 bps
CRE / Total Capitaln/a431%431%425%n/an/a