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Northern Bank & Trust Company

Woburn, MA · Cert 18266 · Northern Bcorp Inc.

State charter, non-member · FDIC · 14 branches

Q2 2026

$3.4BAssets
$2.9BLoans
$2.8BDeposits
$478.3MEquity
Loan mix
56%RE $1.6B44%C&I $1.3B0%Consumer $0.0BQ2 2025Q2 2026
Deposit mix
80%Interest-bearing $2.3B20%Noninterest $0.6BQ2 2025Q2 2026

NIM

6.87%Q2 ’247.53%Q2 ’256.81%Q2 ’26+18%-7%

Non-interest income vs. expense

1.91%Q2 ’241.93%Q2 ’252.30%Q2 ’26+2%+21%

Market Position · Boston-Cambridge-Newton, MA-NH · 2026 SOD (annual) · 0.5% share · #17 of 100 inst. · $2.8B of $580.3B

Executive Summary

  • Earnings: ROA of 1.90%, up 10 bps year over year; NIM at 4.69%.
  • Asset quality: problem loans at 2.07% of loans (-43 bps YoY), with net charge-offs at 0.07%.
  • Capital: tier 1 leverage ratio of 14.55%, down 68 bps from a year ago.
  • Funding: loans stand at 102.92% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.90%+10 bps YoY

Net Interest Margin (YTD, annualized)

4.69%-33 bps YoY

Efficiency Ratio (YTD, annualized)

47.08%+998 bps YoY

Tier 1 Leverage Ratio

14.55%-68 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.80%1.75%1.64%1.78%1.90%+10 bps
Return on Equity12.32%11.97%11.23%12.30%13.22%+90 bps
Net Interest Margin5.02%4.83%4.93%4.77%4.69%-33 bps
Efficiency Ratio37.10%40.01%46.23%49.17%47.08%+998 bps
Non-Interest Burden1.75%1.82%2.18%2.27%2.11%+36 bps
Growth
Asset Growth (YoY)-2.63%1.02%-1.85%4.36%4.97%+760 bps
Loan Growth (YoY)-1.36%0.15%-0.44%6.43%3.82%+518 bps
Deposit Growth (YoY)-4.25%1.23%-3.70%4.88%5.76%+1,001 bps
Asset Quality
Nonperforming Loans / Loans2.50%3.19%3.07%2.09%2.07%-43 bps
Net Charge-Offs / Loans0.08%0.11%0.23%0.14%0.07%-1 bps
Allowance / Loans2.32%2.39%2.28%2.22%2.20%-12 bps
Allowance Coverage of NPLs0.9x0.7x0.7x1.1x1.1x+0.1x
Capital
Tier 1 Leverage Ratio15.23%14.90%14.70%14.66%14.55%-68 bps
Total Risk-Based Capital17.28%17.05%16.63%16.41%16.56%-72 bps
Equity / Assets14.68%14.74%14.58%14.35%14.13%-55 bps
Liquidity & Funding
Loans / Deposits104.84%106.36%108.94%106.77%102.92%-192 bps
Liquid Assets / Assets5.19%3.93%2.01%2.15%5.21%+2 bps
CRE / Total Capitaln/a250%250%262%n/an/a