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Balboa Thrift and Loan Association

Chula Vista, CA · Cert 26704

State charter, non-member · FDIC · 4 branches

Q2 2026

$394.5MAssets
$355.2MLoans
$348.3MDeposits
$44.0MEquity
Loan mix
37%RE $138.2M0%C&I $0.3M62%Consumer $230.2MQ2 2025Q2 2026
Deposit mix
100%Interest-bearing $347.0M0%Noninterest $1.4MQ2 2025Q2 2026

NIM

7.92%Q2 ’248.46%Q2 ’258.54%Q2 ’26+14%+7%

Non-interest income vs. expense

3.42%Q2 ’243.63%Q2 ’253.50%Q2 ’26+6%-5%

Market Position · San Diego-Chula Vista-Carlsbad, CA · 2026 SOD (annual) · 0.1% share · #24 of 42 inst. · $0.2B of $135.0B

0.1% San Diego
0.5% Fresno
0.0% Los Angeles
0.0% Riverside

Executive Summary

  • Earnings: ROA of -0.70%, down 39 bps year over year; NIM at 4.89%.
  • Asset quality: problem loans at 1.14% of loans (+84 bps YoY), with net charge-offs at 2.57%.
  • Capital: tier 1 leverage ratio of 10.61%, down 57 bps from a year ago.
  • Funding: loans stand at 101.96% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

-0.70%-39 bps YoY

Net Interest Margin (YTD, annualized)

4.89%+30 bps YoY

Efficiency Ratio (YTD, annualized)

69.05%-728 bps YoY

Tier 1 Leverage Ratio

10.61%-57 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets-0.31%-0.45%-0.51%-0.60%-0.70%-39 bps
Return on Equity-2.78%-4.00%-4.55%-5.47%-6.35%-356 bps
Net Interest Margin4.59%4.56%4.78%4.82%4.89%+30 bps
Efficiency Ratio76.33%76.73%75.65%68.95%69.05%-728 bps
Non-Interest Burden3.46%3.47%3.57%3.24%3.30%-16 bps
Growth
Asset Growth (YoY)1.47%-0.46%-2.95%-1.93%-5.81%-729 bps
Loan Growth (YoY)0.05%-3.08%-1.50%-5.28%-8.17%-821 bps
Deposit Growth (YoY)2.07%-0.15%-2.96%-1.53%-5.77%-783 bps
Asset Quality
Nonperforming Loans / Loans0.31%0.40%0.49%0.97%1.14%+84 bps
Net Charge-Offs / Loans1.98%2.07%2.14%2.36%2.57%+60 bps
Allowance / Loans2.09%2.12%2.27%2.38%2.55%+46 bps
Allowance Coverage of NPLs6.9x5.3x4.7x2.4x2.2x-4.6x
Capital
Tier 1 Leverage Ratio11.18%10.83%10.66%10.76%10.61%-57 bps
Total Risk-Based Capital11.18%10.83%10.66%10.76%10.61%-57 bps
Equity / Assets11.19%10.88%11.08%10.97%11.15%-4 bps
Liquidity & Funding
Loans / Deposits104.63%102.12%103.88%102.10%101.96%-266 bps
Liquid Assets / Assets5.10%7.52%5.18%6.56%6.14%+104 bps
CRE / Total Capitaln/a247%239%244%n/an/a