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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