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Fidelity Co-operative Bank

Leominster, MA · Cert 26451 · Mutual Bcorp

SI · FDIC · 1 affiliate bank · 13 branches (36 in holding)

Q2 2026

$1.3BAssets
$962.5MLoans
$1.1BDeposits
$161.9MEquity
Loan mix
81%RE $809.8M18%C&I $175.8M2%Consumer $17.4MQ2 2025Q2 2026
Deposit mix
78%Interest-bearing $866.7M22%Noninterest $249.0MQ2 2025Q2 2026

NIM

3.34%Q2 ’245.85%Q2 ’255.61%Q2 ’26+78%+8%

Non-interest income vs. expense

1.45%Q2 ’242.92%Q2 ’253.18%Q2 ’26+110%+14%

Market Position · Worcester, MA · 2026 SOD (annual) · 4.2% share · #10 of 26 inst. · $0.9B of $22.5B

4.2% Worcester
0.1% Middlesex
0.1% Norfolk

Executive Summary

  • Earnings: ROA of 0.80%, down 6 bps year over year; NIM at 4.00%.
  • Asset quality: problem loans at 4.44% of loans (+359 bps YoY), with net charge-offs at 1.88%.
  • Capital: tier 1 leverage ratio of 9.86%, up 77 bps from a year ago.
  • Funding: loans stand at 86.27% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.80%-6 bps YoY

Net Interest Margin (YTD, annualized)

4.00%+28 bps YoY

Efficiency Ratio (YTD, annualized)

68.63%+252 bps YoY

Tier 1 Leverage Ratio

9.86%+77 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.87%-0.28%-0.51%0.79%0.80%-6 bps
Return on Equity7.72%-2.50%-4.47%6.64%6.70%-101 bps
Net Interest Margin3.72%3.81%4.10%3.91%4.00%+28 bps
Efficiency Ratio66.11%64.22%63.98%67.81%68.63%+252 bps
Non-Interest Burden2.46%2.42%2.58%2.71%2.82%+35 bps
Growth
Asset Growth (YoY)2.34%-10.85%-11.07%-14.76%-17.06%-1,940 bps
Loan Growth (YoY)4.39%1.78%-2.40%-7.34%-11.31%-1,570 bps
Deposit Growth (YoY)1.85%-11.18%-14.64%-16.71%-18.97%-2,082 bps
Asset Quality
Nonperforming Loans / Loans0.85%2.30%4.92%4.61%4.44%+359 bps
Net Charge-Offs / Loans0.00%1.66%1.29%3.59%1.88%+188 bps
Allowance / Loans0.74%1.44%2.46%1.69%1.79%+105 bps
Allowance Coverage of NPLs0.9x0.6x0.5x0.4x0.4x-0.5x
Capital
Tier 1 Leverage Ratio9.09%8.56%8.94%9.44%9.86%+77 bps
Total Risk-Based Capital9.09%8.56%8.94%9.44%9.86%+77 bps
Equity / Assets11.29%11.52%11.68%11.99%12.36%+107 bps
Liquidity & Funding
Loans / Deposits78.83%85.94%90.52%90.04%86.27%+745 bps
Liquid Assets / Assets4.17%3.23%2.02%1.66%2.28%-190 bps
CRE / Total Capitaln/a371%374%349%n/an/a