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Nelnet Bank

Draper, UT · Cert 59205

State charter, non-member · FDIC · 1 branch

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks $1B-$10B in assets3

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 $1B-$10B in assets (n=322 to 328). 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

82

Q2 2024Q2 2026peer median (50)

Asset Quality

9

Q2 2024Q2 2026peer median (50)

Profitability

19

Q2 2024Q2 2026peer median (50)

Liquidity

4

Q2 2024Q2 2026peer median

Efficiency

96

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

Nelnet Bank

Draper, UT · Cert 59205

State charter, non-member · FDIC · 1 branch

Q2 2026

$3.0BAssets
$1.6BLoans
$2.5BDeposits
$463.5MEquity
Loan mix
3%RE $0.0B1%C&I $0.0B97%Consumer $1.2BQ2 2025Q2 2026
Deposit mix
100%Interest-bearing $2.5B0%Noninterest $0.0BQ2 2025Q2 2026

NIM

6.47%Q2 ’246.11%Q2 ’255.42%Q2 ’26+2%-16%

Non-interest income vs. expense

1.88%Q2 ’241.43%Q2 ’251.00%Q2 ’26-25%-35%

Market Position · Salt Lake City-Murray, UT · 2026 SOD (annual) · 0.2% share · #20 of 57 inst. · $2.5B of $1175.7B

Executive Summary

  • Earnings: ROA of 1.23%, up 70 bps year over year; NIM at 2.58%.
  • Asset quality: problem loans at 2.17% of loans (+111 bps YoY), with net charge-offs at 0.59%.
  • Capital: tier 1 leverage ratio of 15.94%, up 310 bps from a year ago.
  • Funding: loans stand at 65.66% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.23%+70 bps YoY

Net Interest Margin (YTD, annualized)

2.58%-49 bps YoY

Efficiency Ratio (YTD, annualized)

36.07%-801 bps YoY

Tier 1 Leverage Ratio

15.94%+310 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.53%0.71%0.78%1.11%1.23%+70 bps
Return on Equity4.42%5.92%6.20%7.97%8.48%+406 bps
Net Interest Margin3.07%3.02%2.95%3.15%2.58%-49 bps
Efficiency Ratio44.08%42.27%40.80%32.03%36.07%-801 bps
Non-Interest Burden1.43%1.32%1.23%0.93%0.92%-50 bps
Growth
Asset Growth (YoY)49.09%50.76%42.83%48.88%69.61%+2,052 bps
Loan Growth (YoY)50.46%72.00%49.18%66.50%99.91%+4,946 bps
Deposit Growth (YoY)48.23%50.90%40.52%41.59%63.52%+1,529 bps
Asset Quality
Nonperforming Loans / Loans1.06%1.36%1.12%1.95%2.17%+111 bps
Net Charge-Offs / Loans0.97%0.86%1.04%0.89%0.59%-39 bps
Allowance / Loans2.71%2.44%2.69%2.30%1.72%-99 bps
Allowance Coverage of NPLs2.6x1.8x2.4x1.2x0.8x-1.8x
Capital
Tier 1 Leverage Ratio12.83%12.71%14.45%15.02%15.94%+310 bps
Total Risk-Based Capital12.83%12.71%14.45%15.02%15.94%+310 bps
Equity / Assets12.68%11.88%14.23%13.63%15.46%+278 bps
Liquidity & Funding
Loans / Deposits53.71%56.14%54.25%64.66%65.66%+1,195 bps
Liquid Assets / Assets12.40%10.70%11.09%10.16%7.47%-493 bps
CRE / Total Capitaln/a9.02%9.48%9.28%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

Nelnet Bank

Draper, UT · Cert 59205 · Peer group: banks $1B-$10B in assets (n=322-328)

State charter, non-member · FDIC · 1 branch

Q2 2026

$3.0BAssets
$1.6BLoans
$2.5BDeposits
$463.5MEquity

Executive Summary

  • Strongest standing: efficiency ratio outperforms 96% of banks $1B-$10B in assets (rank 14 of 328).
  • Widest gap: net charge-offs / loans trails 92% of banks $1B-$10B in assets (rank 296 of 322).
  • Overall: at or above the peer median on 4 of 9 directional measures.

Return on Assets

1.04%

Rank 218 of 328

Net Interest Margin

2.58%

Rank 303 of 328

Efficiency Ratio

37.60%

Rank 14 of 328

Equity / Assets

15.46%

Rank 19 of 328

Non-interest income vs. expense

$2.3M$29.0MINCOMEEXPENSE
Unfavorable gap of $26.7M · efficiency ratio beats 96% of banks $1B-$10B in assets
Bank 37.60%Peer median 59.6%Q2 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets1.04%0.91%1.22%1.52%Beats 34%218 / 328
Return on Equity6.72%8.43%11.45%14.43%Beats 14%282 / 328
Net Interest Margin2.58%3.03%3.45%3.83%Beats 8%303 / 328
Efficiency Ratio37.60%51.61%59.56%67.53%Beats 96%14 / 328
Asset Quality
Nonperforming Loans / Loans2.17%0.24%0.51%1.03%Beats 9%294 / 322
Net Charge-Offs / Loans0.34%0.01%0.03%0.10%Beats 8%296 / 322
Capital
Tier 1 Capital Ratio15.94%11.75%13.15%15.47%Beats 79%68 / 328
Total Risk-Based Capital Ratio15.94%12.63%14.15%16.46%Beats 72%92 / 328
Equity / Assets15.46%9.15%10.33%12.01%Beats 94%19 / 328
Liquidity & Funding
Loans / Deposits65.66%76.63%87.92%95.36%11th pctl288 / 323
Loans / Assets54.87%65.18%74.15%79.98%12th pctl290 / 328
Brokered Deposits / Depositsn/aNot reported for this institution