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Sallie Mae Bank

Salt Lake City, UT · Cert 58177

State charter, non-member · FDIC · 1 branch

Q2 2026

$28.5BAssets
$21.1BLoans
$20.3BDeposits
$2.9BEquity
Loan mix
0%RE $0.0B0%C&I $0.0B100%Consumer $21.5BQ2 2025Q2 2026
Deposit mix
99%Interest-bearing $20.2B1%Noninterest $0.1BQ2 2025Q2 2026

NIM

8.99%Q2 ’248.97%Q2 ’258.34%Q2 ’260%-9%

Non-interest income vs. expense

1.99%Q2 ’242.04%Q2 ’252.40%Q2 ’26+7537%-9%

Market Position · Salt Lake City-Murray, UT · 2026 SOD (annual) · 1.7% share · #9 of 57 inst. · $20.3B of $1175.7B

Executive Summary

  • Earnings: ROA of 1.17%, down 15 bps year over year; NIM at 4.79%.
  • Asset quality: problem loans at 0.65% of loans (+9 bps YoY), with net charge-offs at 2.13%.
  • Capital: tier 1 leverage ratio of 10.17%, down 5 bps from a year ago.
  • Funding: loans stand at 103.90% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.17%-15 bps YoY

Net Interest Margin (quarter, annualized)

4.79%-50 bps YoY

Efficiency Ratio (quarter, annualized)

41.95%+619 bps YoY

Tier 1 Leverage Ratio

10.17%-5 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.32%2.14%3.61%4.31%1.17%-15 bps
Return on Equity13.14%21.25%36.25%43.20%11.49%-165 bps
Net Interest Margin5.29%5.24%5.26%5.25%4.79%-50 bps
Efficiency Ratio35.76%29.52%28.65%26.43%41.95%+619 bps
Non-Interest Burden1.62%-0.09%0.71%-0.37%1.48%-15 bps
Growth
Asset Growth (YoY)2.84%-1.07%-1.01%1.81%-3.41%-625 bps
Loan Growth (YoY)12.19%3.53%1.54%-4.58%-6.96%-1,915 bps
Deposit Growth (YoY)-1.23%-6.80%0.31%1.91%-2.34%-110 bps
Asset Quality
Nonperforming Loans / Loans0.55%0.63%0.67%0.71%0.65%+9 bps
Net Charge-Offs / Loans1.66%1.34%1.72%1.65%2.13%+47 bps
Allowance / Loans6.51%6.61%6.32%6.45%6.45%-6 bps
Allowance Coverage of NPLs11.8x10.6x9.5x9.1x10.0x-1.8x
Capital
Tier 1 Leverage Ratio10.21%10.40%9.88%10.33%10.17%-5 bps
Total Risk-Based Capital12.78%12.58%12.39%13.66%13.09%+31 bps
Equity / Assets9.95%10.19%9.72%10.26%10.19%+24 bps
Liquidity & Funding
Loans / Deposits109.07%114.76%105.68%103.62%103.90%-517 bps
Liquid Assets / Assets14.28%12.40%14.69%17.86%15.68%+140 bps
CRE / Total Capitaln/a0.00%0.00%0.00%n/an/a