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First Federal Savings and Loan Association of San Rafael

San Rafael, CA · Cert 31406

State savings bank · OCC · 4 branches

Q2 2026

$222.1MAssets
$194.9MLoans
$178.3MDeposits
$41.2MEquity
Loan mix
100%RE $198.5M0%C&I $0.0M0%Consumer $0.0MQ2 2025Q2 2026
Deposit mix
96%Interest-bearing $170.7M4%Noninterest $7.6MQ2 2025Q2 2026

NIM

4.49%Q2 ’244.67%Q2 ’254.73%Q2 ’26+7%+15%

Non-interest income vs. expense

2.74%Q2 ’243.14%Q2 ’252.80%Q2 ’26+15%-12%

Market Position · San Francisco-Oakland-Fremont, CA · 2026 SOD (annual) · 0.0% share · #48 of 69 inst. · $0.2B of $513.2B

0.5% Marin
0.0% San Francisco
0.1% Alameda

Executive Summary

  • Earnings: ROA of 0.09%, up 132 bps year over year; NIM at 2.79%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 18.75%, up 130 bps from a year ago.
  • Funding: loans stand at 109.29% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.09%+132 bps YoY

Net Interest Margin (YTD, annualized)

2.79%+36 bps YoY

Efficiency Ratio (YTD, annualized)

96.67%-2,797 bps YoY

Tier 1 Leverage Ratio

18.75%+130 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets-1.23%-0.84%-0.58%0.10%0.09%+132 bps
Return on Equity-6.87%-4.66%-3.24%0.52%0.51%+738 bps
Net Interest Margin2.43%2.50%2.59%2.84%2.79%+36 bps
Efficiency Ratio124.64%116.75%110.49%96.70%96.67%-2,797 bps
Non-Interest Burden3.05%2.93%2.87%2.74%2.70%-35 bps
Growth
Asset Growth (YoY)0.84%-0.22%-4.15%-7.31%-4.98%-581 bps
Loan Growth (YoY)2.70%0.39%-5.61%-8.95%-9.34%-1,204 bps
Deposit Growth (YoY)2.35%1.47%-2.82%-5.08%-2.93%-528 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans0.60%0.62%0.65%0.66%0.67%+6 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ratio17.45%17.85%18.25%18.87%18.75%+130 bps
Total Risk-Based Capital22.26%23.34%24.62%24.81%25.31%+306 bps
Equity / Assets17.56%17.98%18.61%18.72%18.57%+101 bps
Liquidity & Funding
Loans / Deposits117.02%115.00%113.52%112.38%109.29%-773 bps
Liquid Assets / Assets2.82%2.76%4.33%4.46%6.85%+403 bps
CRE / Total Capitaln/a507%481%478%n/an/a