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Kitsap Bank

Port Orchard, WA · Cert 6161

FDIC · 17 branches

Q4 2025

Board Package

Performance Trends and Peer Comparison

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

Basis

Quarter: Q4 2025, the quarter ended December 31, 2025, 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=284 to 290). 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

54

Q2 2024Q4 2025peer median (50)

Asset Quality

96

Q2 2024Q4 2025peer median (50)

Profitability

41

Q2 2024Q4 2025peer median (50)

Liquidity

0

Q2 2024Q4 2025peer median

Efficiency

11

Q2 2024Q4 2025peer 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

Kitsap Bank

Port Orchard, WA · Cert 6161

FDIC · 17 branches

Q4 2025

$1.7BAssets
$897.4MLoans
$1.4BDeposits
$146.2MEquity
Loan mix
81%RE $723.6M18%C&I $161.2M0%Consumer $3.4MQ4 2024Q4 2025
Deposit mix
68%Interest-bearing $969.0M32%Noninterest $465.9MQ4 2024Q4 2025

NIM

3.77%Q4 ’234.09%Q4 ’244.19%Q4 ’25-6%+8%

Non-interest income vs. expense

2.71%Q4 ’232.79%Q4 ’243.00%Q4 ’25+3%-3%

Market Position · Bremerton-Silverdale-Port Orchard, WA · 2025 SOD (annual) · 20.7% share · #2 of 13 inst. · $0.9B of $4.3B

20.7% Kitsap
1.2% Pierce
18.6% Jefferson
3.4% Clallam

Executive Summary

  • Earnings: ROA of 0.92%, up 52 bps year over year; NIM at 3.16%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Capital: tier 1 leverage ratio of 10.33%, down 72 bps from a year ago.
  • Funding: loans stand at 62.54% of deposits as of Q4 2025.

Financial Results

Return on Assets (YTD, annualized)

0.92%+52 bps YoY

Net Interest Margin (YTD, annualized)

3.16%+22 bps YoY

Efficiency Ratio (YTD, annualized)

74.50%-484 bps YoY

Tier 1 Leverage Ratio

10.33%-72 bps YoY

Year to date, annualized, through each quarter.

MetricQ4 2024Q1 2025Q2 2025Q3 2025Q4 2025YoY ΔTrend
Earnings
Return on Assets0.40%0.57%0.91%0.95%0.92%+52 bps
Return on Equity4.55%6.26%9.92%10.10%9.95%+539 bps
Net Interest Margin2.93%3.01%3.07%3.13%3.16%+22 bps
Efficiency Ratio79.34%80.77%72.70%73.59%74.50%-484 bps
Non-Interest Burden2.17%2.28%1.91%2.02%2.10%-8 bps
Growth
Asset Growth (YoY)1.07%0.50%0.04%-1.11%-0.73%-180 bps
Loan Growth (YoY)7.24%8.47%4.86%1.82%0.07%-716 bps
Deposit Growth (YoY)0.10%4.47%2.15%5.27%3.75%+365 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.01%0.00%0.00%0 bps
Net Charge-Offs / Loans0.03%-0.01%-0.03%-0.02%-0.01%-4 bps
Allowance / Loans1.07%1.07%1.09%1.03%1.04%-3 bps
Allowance Coverage of NPLsn/a9841.0x120.9x1556.3x9316.0xn/a
Capital
Tier 1 Leverage Ratio11.05%11.36%11.53%11.72%10.33%-72 bps
Total Risk-Based Capital16.56%16.66%16.75%17.53%15.65%-91 bps
Equity / Assets8.93%9.16%9.34%10.04%8.84%-9 bps
Liquidity & Funding
Loans / Deposits64.84%64.46%68.12%62.99%62.54%-230 bps
Liquid Assets / Assets2.22%2.15%2.91%4.08%4.47%+226 bps
CRE / Total Capitaln/an/an/a335%378%n/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

Kitsap Bank

Port Orchard, WA · Cert 6161 · Peer group: banks $1B-$10B in assets (n=284-290)

FDIC · 17 branches

Q4 2025

$1.7BAssets
$897.4MLoans
$1.4BDeposits
$146.2MEquity

Executive Summary

  • Strongest standing: brokered deposits / deposits outperforms 100% of banks $1B-$10B in assets (rank 96 of 285).
  • Widest gap: efficiency ratio trails 89% of banks $1B-$10B in assets (rank 258 of 290).
  • Overall: at or above the peer median on 4 of 9 directional measures.

Return on Assets

0.93%

Rank 201 of 290

Net Interest Margin

3.16%

Rank 166 of 290

Efficiency Ratio

74.50%

Rank 258 of 290

Equity / Assets

8.84%

Rank 230 of 290

Non-interest income vs. expense

$15.2M$50.8MINCOMEEXPENSE
Unfavorable gap of $35.6M · efficiency ratio beats 11% of banks $1B-$10B in assets
Bank 74.50%Peer median 60.5%Q3 2024Q4 2025Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets0.93%0.82%1.09%1.41%Beats 31%201 / 290
Return on Equity10.51%8.04%10.59%13.08%Beats 49%147 / 290
Net Interest Margin3.16%2.87%3.28%3.78%Beats 43%166 / 290
Efficiency Ratio74.50%53.76%60.51%67.14%Beats 11%258 / 290
Asset Quality
Nonperforming Loans / Loans0.00%0.22%0.49%0.91%Beats 96%11 / 284
Net Charge-Offs / Loansn/aNot reported for this institution
Capital
Tier 1 Capital Ratio14.81%11.52%13.11%15.22%Beats 71%83 / 290
Total Risk-Based Capital Ratio15.65%12.41%14.01%16.12%Beats 71%84 / 290
Equity / Assets8.84%8.94%10.29%11.70%Beats 21%230 / 290
Liquidity & Funding
Loans / Deposits62.54%75.78%87.64%95.53%7th pctl263 / 284
Loans / Assets54.27%64.43%74.03%79.86%7th pctl263 / 284
Brokered Deposits / Deposits0.00%n/a2.01%8.63%Beats 100%96 / 285