PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Happen Bank, National Association

Lehi, UT · Cert 32551 · Lendingclub Corp.

National charter · OCC · 3 branches

Q2 2026

$12.5BAssets
$7.0BLoans
$10.9BDeposits
$1.4BEquity
Loan mix
10%RE $0.6B2%C&I $0.2B88%Consumer $5.9BQ2 2025Q2 2026
Deposit mix
95%Interest-bearing $10.3B5%Noninterest $0.5BQ2 2025Q2 2026

NIM

9.10%Q2 ’249.02%Q2 ’258.73%Q2 ’26+9%+0%

Non-interest income vs. expense

5.46%Q2 ’245.60%Q2 ’256.23%Q2 ’26-17%+39%

Market Position · Provo-Orem-Lehi, UT · 2026 SOD (annual) · 38.8% share · #1 of 16 inst. · $10.9B of $28.0B

39.0% Utah
0.0% Suffolk
0.0% San Francisco

Executive Summary

  • Earnings: ROA of 1.82%, up 88 bps year over year; NIM at 5.92%.
  • Asset quality: problem loans at 0.82% of loans (-16 bps YoY), with net charge-offs at 2.07%.
  • Capital: tier 1 leverage ratio of 10.98%, up 15 bps from a year ago.
  • Funding: loans stand at 64.89% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.82%+88 bps YoY

Net Interest Margin (YTD, annualized)

5.92%0 bps YoY

Efficiency Ratio (YTD, annualized)

74.08%+1,073 bps YoY

Tier 1 Leverage Ratio

10.98%+15 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.94%1.17%1.22%1.75%1.82%+88 bps
Return on Equity8.41%10.35%10.81%15.29%15.94%+753 bps
Net Interest Margin5.91%5.88%5.63%6.15%5.92%0 bps
Efficiency Ratio63.35%62.34%62.52%73.08%74.08%+1,073 bps
Non-Interest Burden2.66%2.44%2.32%3.78%3.70%+104 bps
Growth
Asset Growth (YoY)13.12%1.10%9.58%14.52%17.03%+390 bps
Loan Growth (YoY)12.59%-2.99%12.48%18.13%16.93%+433 bps
Deposit Growth (YoY)12.69%-0.15%9.12%14.02%17.24%+455 bps
Asset Quality
Nonperforming Loans / Loans0.98%0.95%0.96%0.90%0.82%-16 bps
Net Charge-Offs / Loans2.68%2.46%2.33%2.30%2.07%-61 bps
Allowance / Loans4.20%4.42%4.24%3.51%2.74%-146 bps
Allowance Coverage of NPLs4.3x4.7x4.4x3.9x3.3x-0.9x
Capital
Tier 1 Leverage Ratio10.83%10.85%10.68%10.89%10.98%+15 bps
Total Risk-Based Capital16.77%17.11%16.75%16.75%16.83%+6 bps
Equity / Assets11.30%11.44%11.38%11.50%11.45%+15 bps
Liquidity & Funding
Loans / Deposits65.07%63.59%65.41%65.88%64.89%-17 bps
Liquid Assets / Assets6.80%7.35%7.80%6.54%7.17%+37 bps
CRE / Total Capitaln/a39.69%39.91%39.45%n/an/a