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Square Financial Services, Inc.

Salt Lake City, UT · Cert 59177

State charter, non-member · FDIC · 1 branch

Q2 2026

$2.1BAssets
$1.4BLoans
$559.3MDeposits
$1.4BEquity
Loan mix
0%RE $0.0M38%C&I $434.0M62%Consumer $702.3MQ2 2025Q2 2026
Deposit mix
84%Interest-bearing $468.0M16%Noninterest $91.3MQ2 2025Q2 2026

NIM

15.35%Q2 ’2416.40%Q2 ’2534.98%Q2 ’26+9%+118%

Non-interest income vs. expense

18.73%Q2 ’2414.76%Q2 ’2510.41%Q2 ’26+11%-28%

Market Position · Salt Lake City-Murray, UT · 2026 SOD (annual) · 0.0% share · #27 of 57 inst. · $0.6B of $1175.7B

Executive Summary

  • Earnings: ROA of 37.85%, up 1,409 bps year over year; NIM at 34.70%.
  • Asset quality: problem loans at 0.67% of loans (-56 bps YoY), with net charge-offs at 12.31%.
  • Capital: tier 1 leverage ratio of 65.19%, down 65 bps from a year ago.
  • Funding: loans stand at 248.97% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

37.85%+1,409 bps YoY

Net Interest Margin (YTD, annualized)

34.70%+1,876 bps YoY

Efficiency Ratio (YTD, annualized)

15.44%-1,523 bps YoY

Tier 1 Leverage Ratio

65.19%-65 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets23.76%29.09%31.51%38.77%37.85%+1,409 bps
Return on Equity37.64%46.25%51.08%63.00%59.97%+2,233 bps
Net Interest Margin15.94%18.35%18.93%34.83%34.70%+1,876 bps
Efficiency Ratio30.67%26.91%22.58%14.59%15.44%-1,523 bps
Non-Interest Burden-17.42%-17.73%-16.84%-24.68%-22.29%-487 bps
Growth
Asset Growth (YoY)41.69%53.54%81.96%77.47%77.91%+3,622 bps
Loan Growth (YoY)106.14%141.95%122.08%134.98%124.06%+1,792 bps
Deposit Growth (YoY)44.96%44.35%66.03%50.11%50.77%+581 bps
Asset Quality
Nonperforming Loans / Loans1.23%1.20%1.16%0.97%0.67%-56 bps
Net Charge-Offs / Loans4.05%3.09%3.37%12.83%12.31%+826 bps
Allowance / Loans4.68%4.93%6.80%7.30%7.61%+293 bps
Allowance Coverage of NPLs3.8x4.1x5.8x7.6x11.4x+7.6x
Capital
Tier 1 Leverage Ratio65.84%67.03%60.58%61.54%65.19%-65 bps
Total Risk-Based Capital108.74%100.57%96.42%101.16%97.31%-1,142 bps
Equity / Assets62.35%62.39%58.51%64.39%65.80%+345 bps
Liquidity & Funding
Loans / Deposits167.53%189.21%197.31%230%249%+8,144 bps
Liquid Assets / Assets41.55%36.61%32.24%34.52%29.90%-1,164 bps
CRE / Total Capitaln/a0.00%0.00%0.00%n/an/a