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Spencer Savings Bank, Savings and Loan Association

Elmwood Park, NJ · Cert 30076

SL · FDIC · 28 branches

Q2 2026

$4.0BAssets
$3.3BLoans
$3.0BDeposits
$478.5MEquity
Loan mix
98%RE $3.2B2%C&I $0.1B0%Consumer $0.0BQ2 2025Q2 2026
Deposit mix
89%Interest-bearing $2.7B11%Noninterest $0.3BQ2 2025Q2 2026

NIM

4.39%Q2 ’244.64%Q2 ’254.76%Q2 ’26+22%+15%

Non-interest income vs. expense

1.75%Q2 ’241.84%Q2 ’251.89%Q2 ’26+16%+2%

Market Position · New York-Newark-Jersey City, NY-NJ · 2026 SOD (annual) · 0.1% share · #48 of 151 inst. · $3.0B of $2921.1B

2.6% Bergen
1.8% Union
1.2% Passaic
0.8% Essex

Executive Summary

  • Earnings: ROA of 0.65%, up 14 bps year over year; NIM at 2.68%.
  • Asset quality: problem loans at 0.58% of loans (-8 bps YoY), with net charge-offs at 0.02%.
  • Capital: tier 1 leverage ratio of 11.23%, up 47 bps from a year ago.
  • Funding: loans stand at 108.28% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

0.65%+14 bps YoY

Net Interest Margin (quarter, annualized)

2.68%+36 bps YoY

Efficiency Ratio (quarter, annualized)

66.55%-771 bps YoY

Tier 1 Leverage Ratio

11.23%+47 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.50%0.42%0.43%0.62%0.65%+14 bps
Return on Equity4.49%3.68%3.74%5.34%5.47%+99 bps
Net Interest Margin2.33%2.32%2.49%2.64%2.68%+36 bps
Efficiency Ratio74.27%78.72%74.36%66.81%66.55%-771 bps
Non-Interest Burden1.68%1.78%1.80%1.70%1.72%+4 bps
Growth
Asset Growth (YoY)2.90%1.18%0.73%-0.94%1.35%-154 bps
Loan Growth (YoY)-0.91%1.53%2.07%3.10%3.30%+421 bps
Deposit Growth (YoY)8.06%2.28%2.05%-1.01%-1.47%-953 bps
Asset Quality
Nonperforming Loans / Loans0.66%0.66%0.58%0.52%0.58%-8 bps
Net Charge-Offs / Loans-0.01%0.03%0.11%0.02%0.02%+3 bps
Allowance / Loans0.88%0.86%0.84%0.85%0.84%-4 bps
Allowance Coverage of NPLs1.3x1.3x1.5x1.6x1.5x+0.1x
Capital
Tier 1 Leverage Ratio10.76%10.94%10.96%11.11%11.23%+47 bps
Total Risk-Based Capital17.62%17.67%17.76%17.80%17.86%+23 bps
Equity / Assets11.39%11.50%11.59%11.75%11.86%+46 bps
Liquidity & Funding
Loans / Deposits103.28%105.52%103.50%105.17%108.28%+500 bps
Liquid Assets / Assets1.88%1.49%2.02%1.27%1.31%-56 bps
CRE / Total Capitaln/a594%596%592%n/an/a