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First Utah Bank

Salt Lake City, UT · Cert 22738 · First Utah Bcorp

State charter, non-member · FDIC · 7 branches

Q2 2026

$840.3MAssets
$634.4MLoans
$688.5MDeposits
$85.4MEquity
Loan mix
81%RE $503.4M18%C&I $114.3M0%Consumer $0.3MQ2 2025Q2 2026
Deposit mix
80%Interest-bearing $547.6M20%Noninterest $141.0MQ2 2025Q2 2026

NIM

6.80%Q2 ’246.78%Q2 ’256.44%Q2 ’26-1%-1%

Non-interest income vs. expense

3.12%Q2 ’243.31%Q2 ’253.08%Q2 ’26+1%-7%

Market Position · Salt Lake City-Murray, UT · 2026 SOD (annual) · 0.1% share · #25 of 57 inst. · $0.7B of $1175.7B

0.1% Salt Lake
0.1% Utah

Executive Summary

  • Earnings: ROA of 0.74%, down 37 bps year over year; NIM at 4.31%.
  • Asset quality: problem loans at 6.39% of loans (+308 bps YoY), with net charge-offs at 1.07%.
  • Capital: tier 1 leverage ratio of 10.22%, up 110 bps from a year ago.
  • Funding: loans stand at 92.14% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.74%-37 bps YoY

Net Interest Margin (YTD, annualized)

4.31%-5 bps YoY

Efficiency Ratio (YTD, annualized)

61.17%-335 bps YoY

Tier 1 Leverage Ratio

10.22%+110 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.11%1.18%1.13%0.77%0.74%-37 bps
Return on Equity12.37%13.00%12.18%7.83%7.43%-495 bps
Net Interest Margin4.36%4.40%4.46%4.15%4.31%-5 bps
Efficiency Ratio64.52%61.56%62.57%67.88%61.17%-335 bps
Non-Interest Burden2.51%2.39%2.52%2.71%2.34%-17 bps
Growth
Asset Growth (YoY)14.70%8.45%-3.28%-1.30%-2.66%-1,736 bps
Loan Growth (YoY)18.07%13.07%-1.23%-1.04%-4.26%-2,233 bps
Deposit Growth (YoY)13.59%6.62%0.37%-5.00%-3.08%-1,666 bps
Asset Quality
Nonperforming Loans / Loans3.31%3.13%4.59%6.06%6.39%+308 bps
Net Charge-Offs / Loans0.35%0.43%0.46%0.51%1.07%+72 bps
Allowance / Loans1.25%1.26%1.28%1.29%1.46%+21 bps
Allowance Coverage of NPLs0.4x0.4x0.3x0.2x0.2x-0.1x
Capital
Tier 1 Leverage Ratio9.12%9.37%9.58%9.99%10.22%+110 bps
Total Risk-Based Capital12.00%12.31%12.95%13.05%10.22%-178 bps
Equity / Assets9.17%9.57%9.84%9.94%10.17%+100 bps
Liquidity & Funding
Loans / Deposits93.27%91.38%90.24%94.48%92.14%-113 bps
Liquid Assets / Assets12.10%11.72%12.70%13.90%15.87%+377 bps
CRE / Total Capitaln/a600%569%566%n/an/a