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Letter portraitLegal landscapeQuarterYTD

Bank of the Federated States of Micronesia

Pohnpei, 0 · Cert 26539

State charter, non-member · FDIC · 4 branches

Q2 2026

$278.4MAssets
$62.5MLoans
$245.4MDeposits
$32.0MEquity
Loan mix
46%RE $29.4M19%C&I $11.8M35%Consumer $22.3MQ3 2024Q2 2026
Deposit mix
63%Interest-bearing $155.6M37%Noninterest $89.8MQ3 2024Q2 2026

Executive Summary

  • Earnings: ROA of 1.42%, down 15 bps year over year; NIM at 4.08%.
  • Asset quality: problem loans at 9.98% of loans (+857 bps YoY), with net charge-offs at 0.50%.
  • Capital: tier 1 leverage ratio of 12.47%, down 28 bps from a year ago.
  • Funding: loans stand at 25.49% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

1.42%-15 bps YoY

Net Interest Margin (YTD, annualized)

4.08%-21 bps YoY

Efficiency Ratio (YTD, annualized)

64.17%+252 bps YoY

Tier 1 Leverage Ratio

12.47%-28 bps YoY

NIM

4.91%Q2 ’244.82%Q2 ’254.63%Q2 ’26-2%-5%

Non-interest income vs. expense

2.87%Q2 ’242.91%Q2 ’252.86%Q2 ’26+1%+0%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.64%1.67%1.53%1.57%1.61%1.52%1.32%1.42%-15 bps
Return on Equity12.94%13.31%12.30%12.99%13.27%12.48%10.39%11.56%-143 bps
Net Interest Margin4.20%4.14%4.12%4.30%4.13%4.31%4.01%4.08%-21 bps
Efficiency Ratio60.43%62.19%62.47%61.65%60.55%62.73%66.12%64.17%+252 bps
Non-Interest Burden2.38%2.42%2.38%2.49%2.34%2.56%2.52%2.49%0 bps
Growth
Asset Growth (YoY)6.39%15.07%16.73%20.30%12.79%8.70%7.50%1.83%-1,847 bps
Loan Growth (YoY)-1.93%-0.75%-3.07%-0.15%5.53%7.35%7.20%3.95%+410 bps
Deposit Growth (YoY)4.31%16.00%17.58%21.46%13.58%8.14%7.61%1.78%-1,968 bps
Asset Quality
Nonperforming Loans / Loans0.76%0.73%1.40%1.41%1.41%3.45%4.77%9.98%+857 bps
Net Charge-Offs / Loans0.34%0.27%0.77%0.77%0.65%0.57%0.65%0.50%-27 bps
Allowance / Loans3.38%3.18%3.25%3.30%3.35%3.37%3.46%3.65%+35 bps
Allowance Coverage of NPLs4.5x4.3x2.3x2.3x2.4x1.0x0.7x0.4x-2.0x
Capital
Tier 1 Leverage Ratio13.94%13.82%13.62%12.76%12.49%13.16%13.00%12.47%-28 bps
Total Risk-Based Capital48.08%48.85%51.04%48.74%48.96%50.05%50.27%48.73%-1 bps
Equity / Assets12.65%12.02%12.91%11.41%12.30%12.49%12.84%11.48%+7 bps
Liquidity & Funding
Loans / Deposits29.05%27.49%27.78%24.96%26.99%27.29%27.67%25.49%+53 bps
Liquid Assets / Assets41.26%47.07%43.13%41.10%30.06%31.30%29.96%33.03%-807 bps
CRE / Total Capitaln/an/an/an/a69.36%67.19%65.25%n/an/a