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Pathward, National Association

Sioux Falls, SD · Cert 30776 · Pathward Financial Inc.

National charter · OCC · 1 branch

Q2 2026

$7.3BAssets
$5.2BLoans
$6.0BDeposits
$882.6MEquity
Loan mix
2%RE $0.1B94%C&I $4.5B4%Consumer $0.2BQ2 2025Q2 2026
Deposit mix
4%Interest-bearing $0.2B96%Noninterest $5.7BQ2 2025Q2 2026

NIM

6.52%Q2 ’247.26%Q2 ’256.49%Q2 ’26+14%-11%

Non-interest income vs. expense

7.07%Q2 ’247.82%Q2 ’257.20%Q2 ’26-3%-36%

Market Position · Sioux Falls, SD-MN · 2026 SOD (annual) · 0.5% share · #4 of 42 inst. · $6.0B of $1127.8B

Executive Summary

  • Earnings: ROA of 2.81%, down 47 bps year over year; NIM at 6.61%.
  • Asset quality: problem loans at 5.28% of loans (+380 bps YoY), with net charge-offs at 0.84%.
  • Capital: tier 1 leverage ratio of 9.91%, down 9 bps from a year ago.
  • Funding: loans stand at 87.44% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

2.81%-47 bps YoY

Net Interest Margin (YTD, annualized)

6.61%-81 bps YoY

Efficiency Ratio (YTD, annualized)

57.97%-151 bps YoY

Tier 1 Leverage Ratio

9.91%-9 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets3.29%2.91%2.65%4.00%2.81%-47 bps
Return on Equity28.91%25.06%22.73%33.07%23.28%-563 bps
Net Interest Margin7.41%7.19%6.99%6.19%6.61%-81 bps
Efficiency Ratio59.48%64.14%65.92%51.43%57.97%-151 bps
Non-Interest Burden1.86%2.70%2.97%-0.36%1.20%-66 bps
Growth
Asset Growth (YoY)-4.00%-4.97%-0.45%1.72%1.19%+519 bps
Loan Growth (YoY)3.26%1.68%9.40%9.08%8.60%+534 bps
Deposit Growth (YoY)-6.62%0.19%-2.62%0.55%-0.93%+569 bps
Asset Quality
Nonperforming Loans / Loans1.49%2.05%2.15%2.39%5.28%+380 bps
Net Charge-Offs / Loans0.52%1.62%1.11%0.47%0.84%+32 bps
Allowance / Loans2.21%1.10%1.16%2.00%2.11%-10 bps
Allowance Coverage of NPLs1.5x0.5x0.5x0.8x0.4x-1.1x
Capital
Tier 1 Leverage Ratio10.00%10.00%9.84%8.85%9.91%-9 bps
Total Risk-Based Capital14.68%14.19%13.73%14.49%13.31%-138 bps
Equity / Assets11.73%12.36%11.79%12.42%12.07%+34 bps
Liquidity & Funding
Loans / Deposits79.77%82.27%79.83%84.05%87.44%+767 bps
Liquid Assets / Assets3.50%1.57%4.38%2.12%1.80%-170 bps
CRE / Total Capitaln/a10.78%10.40%13.16%n/an/a