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Thrivent Bank

Salt Lake City, UT · Cert 59286

State charter, non-member · FDIC · 1 branch

Q2 2026

$905.6MAssets
$574.2MLoans
$548.1MDeposits
$332.4MEquity
Loan mix
75%RE $430.8M4%C&I $20.5M22%Consumer $125.8MQ2 2025Q2 2026
Deposit mix
100%Interest-bearing $548.1M0%Noninterest $0.0MQ2 2025Q2 2026

NIM

5.96%Q3 ’255.73%Q1 ’265.60%Q2 ’26-4%-3%

Non-interest income vs. expense

4.72%Q3 ’255.48%Q1 ’267.94%Q2 ’26+18%+47%

Market Position · Salt Lake City-Murray, UT · 2026 SOD (annual) · 0.0% share · #28 of 57 inst. · $0.5B of $1175.7B

Executive Summary

  • Earnings: ROA of -2.74%, up 363 bps year over year; NIM at 4.61%.
  • Asset quality: problem loans at 0.26% of loans (+3 bps YoY), with net charge-offs at 0.25%.
  • Capital: tier 1 leverage ratio of 29.76%, up 179 bps from a year ago.
  • Funding: loans stand at 104.78% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

-2.74%+363 bps YoY

Net Interest Margin (quarter, annualized)

4.61%+374 bps YoY

Efficiency Ratio (quarter, annualized)

155.96%-82,034 bps YoY

Tier 1 Leverage Ratio

29.76%+179 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets-6.37%0.23%-0.24%-0.55%-2.74%+363 bps
Return on Equity-20.30%0.73%-0.72%-1.58%-7.62%+1,268 bps
Net Interest Margin0.87%4.91%4.82%4.74%4.61%+374 bps
Efficiency Ratio976%85.36%94.39%103.42%155.96%-82,034 bps
Non-Interest Burdenn/a4.38%4.79%5.15%7.60%n/a
Growth
Asset Growth (YoY)n/an/an/an/a-16.77%n/an/a
Loan Growth (YoY)n/an/an/an/a3.60%n/an/a
Deposit Growth (YoY)n/an/an/an/a-14.56%n/an/a
Asset Quality
Nonperforming Loans / Loans0.23%0.21%0.25%0.25%0.26%+3 bps
Net Charge-Offs / Loans0.03%0.65%0.21%0.30%0.25%+23 bps
Allowance / Loans0.54%0.42%0.46%0.45%0.47%-6 bps
Allowance Coverage of NPLs2.4x2.0x1.8x1.8x1.8x-0.5x
Capital
Tier 1 Leverage Ratio27.97%28.19%29.22%29.28%29.76%+179 bps
Total Risk-Based Capital58.47%58.54%56.58%56.28%56.04%-242 bps
Equity / Assets31.36%32.73%34.33%35.16%36.71%+534 bps
Liquidity & Funding
Loans / Deposits86.42%92.08%94.70%96.96%104.78%+1,836 bps
Liquid Assets / Assets32.78%30.39%26.31%17.73%13.35%-1,943 bps
CRE / Total Capitaln/a68.86%64.89%66.81%n/an/a