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Merchants Commercial Bank

Saint Thomas, VI · Cert 58184

State charter, non-member · FDIC · 2 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets operating in a single state3

Basis

Quarter: Q2 2026, the quarter ended June 30, 2026, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

Banks under $1B in assets operating in a single state (n=743 to 746). Each measure ranks only the institutions that reported it, so n varies by measure.

Peer groups below the disclosure floor are suppressed.

Peer standing

Capital

12

Q2 2024Q2 2026peer median (50)

Asset Quality

57

Q2 2024Q2 2026peer median (50)

Profitability

68

Q2 2024Q2 2026peer median (50)

Liquidity

43

Q2 2024Q2 2026peer median

Efficiency

86

Q2 2024Q2 2026peer median (50)

Growth

No peer data yet

Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Merchants Commercial Bank

Saint Thomas, VI · Cert 58184

State charter, non-member · FDIC · 2 branches

Q2 2026

$506.0MAssets
$236.9MLoans
$393.7MDeposits
$31.9MEquity
Loan mix
91%RE $205.9M9%C&I $20.2M1%Consumer $1.3MQ2 2025Q2 2026
Deposit mix
59%Interest-bearing $233.4M41%Noninterest $160.3MQ2 2025Q2 2026

NIM

5.65%Q2 ’244.82%Q2 ’255.04%Q2 ’26-22%+10%

Non-interest income vs. expense

1.82%Q2 ’241.66%Q2 ’251.84%Q2 ’26-10%+7%

Executive Summary

  • Earnings: ROA of 1.50%, up 8 bps year over year; NIM at 3.28%.
  • Asset quality: problem loans at 1.76% of loans (-41 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 10.79%, up 67 bps from a year ago.
  • Funding: loans stand at 60.18% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.50%+8 bps YoY

Net Interest Margin (YTD, annualized)

3.28%+29 bps YoY

Efficiency Ratio (YTD, annualized)

49.76%-4 bps YoY

Tier 1 Leverage Ratio

10.79%+67 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.42%1.44%1.41%1.49%1.50%+8 bps
Return on Equity39.78%36.49%32.64%27.32%26.07%-1,371 bps
Net Interest Margin3.00%3.09%3.11%3.28%3.28%+29 bps
Efficiency Ratio49.80%49.49%50.22%49.58%49.76%-4 bps
Non-Interest Burden1.33%1.36%1.39%1.38%1.42%+10 bps
Growth
Asset Growth (YoY)0.25%7.59%4.13%7.02%4.16%+391 bps
Loan Growth (YoY)11.17%13.71%18.29%18.72%18.55%+738 bps
Deposit Growth (YoY)5.89%16.70%3.41%8.02%2.34%-355 bps
Asset Quality
Nonperforming Loans / Loans2.16%2.58%2.50%1.84%1.76%-41 bps
Net Charge-Offs / Loans0.03%0.02%0.02%0.00%0.00%-3 bps
Allowance / Loans1.10%1.04%1.01%1.02%0.99%-11 bps
Allowance Coverage of NPLs0.5x0.4x0.4x0.6x0.6x+0.1x
Capital
Tier 1 Leverage Ratio10.12%10.51%10.71%10.75%10.79%+67 bps
Total Risk-Based Capital10.12%10.51%10.71%10.75%10.79%+67 bps
Equity / Assets3.33%4.99%5.81%5.15%6.31%+298 bps
Liquidity & Funding
Loans / Deposits51.95%54.64%59.28%54.77%60.18%+823 bps
Liquid Assets / Assets2.29%3.21%0.85%4.59%1.18%-112 bps
CRE / Total Capitaln/a180.28%175.13%178.41%n/an/a

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas. Income-statement figures are year-to-date as filed, annualized (the UBPR convention). Each quarter includes the ones before it.

CallReports · callreports.ai· Performance TrendsGenerated 2026-10-11

Merchants Commercial Bank

Saint Thomas, VI · Cert 58184 · Peer group: banks under $1B in assets operating in a single state (n=743-746)

State charter, non-member · FDIC · 2 branches

Q2 2026

$506.0MAssets
$236.9MLoans
$393.7MDeposits
$31.9MEquity

Executive Summary

  • Strongest standing: net charge-offs / loans outperforms 100% of banks under $1B in assets operating in a single state (rank 185 of 743).
  • Widest gap: equity / assets trails 97% of banks under $1B in assets operating in a single state (rank 724 of 746).
  • Overall: at or above the peer median on 4 of 9 directional measures.

Return on Assets

1.50%

Rank 172 of 746

Net Interest Margin

3.28%

Rank 529 of 746

Efficiency Ratio

49.76%

Rank 105 of 746

Equity / Assets

6.31%

Rank 724 of 746

Non-interest income vs. expense

$2.2M$9.8MINCOMEEXPENSE
Unfavorable gap of $7.6M · efficiency ratio beats 86% of banks under $1B in assets operating in a single state
Bank 49.76%Peer median 64.6%Q2 2025Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets1.50%0.72%1.06%1.45%Beats 77%172 / 746
Return on Equity23.76%6.74%10.51%13.63%Beats 98%16 / 746
Net Interest Margin3.28%3.17%3.68%4.16%Beats 29%529 / 746
Efficiency Ratio49.76%55.74%64.58%75.47%Beats 86%105 / 746
Asset Quality
Nonperforming Loans / Loans1.76%0.09%0.42%1.07%Beats 14%639 / 743
Net Charge-Offs / Loans0.00%0.00%0.01%0.05%Beats 100%185 / 743
Capital
Tier 1 Capital Ratio10.79%11.55%13.75%17.60%Beats 17%619 / 746
Total Risk-Based Capital Ratio10.79%11.71%14.33%18.43%Beats 16%628 / 746
Equity / Assets6.31%8.90%10.51%13.06%Beats 3%724 / 746
Liquidity & Funding
Loans / Deposits60.18%61.31%78.27%90.78%23rd pctl575 / 746
Loans / Assets46.83%53.60%66.97%76.08%16th pctl625 / 746
Brokered Deposits / Depositsn/aNot reported for this institution