PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

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 $3.4MQ1 2024Q4 2025
Deposit mix
68%Interest-bearing $969.0M32%Noninterest $465.9MQ1 2024Q4 2025

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.

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

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%

Year to date, annualized, through each quarter.

MetricQ1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025YoY ΔTrend
Earnings
Return on Assets0.61%0.66%0.50%0.40%0.57%0.91%0.95%0.92%+52 bps
Return on Equity6.97%7.62%5.59%4.55%6.26%9.92%10.10%9.95%+539 bps
Net Interest Margin2.95%2.92%2.91%2.93%3.01%3.07%3.13%3.16%+22 bps
Efficiency Ratio79.68%79.12%79.67%79.34%80.77%72.70%73.59%74.50%-484 bps
Non-Interest Burden2.20%2.16%2.17%2.17%2.28%1.91%2.02%2.10%-8 bps
Growth
Asset Growth (YoY)-0.01%3.63%3.13%1.07%0.50%0.04%-1.11%-0.73%-180 bps
Loan Growth (YoY)6.01%10.97%7.99%7.24%8.47%4.86%1.82%0.07%-716 bps
Deposit Growth (YoY)-8.31%-6.84%-5.28%0.10%4.47%2.15%5.27%3.75%+365 bps
Asset Quality
Nonperforming Loans / Loans0.01%0.00%0.03%0.00%0.00%0.01%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.03%-0.01%-0.03%-0.02%-0.01%-4 bps
Allowance / Loans1.18%1.19%1.11%1.07%1.07%1.09%1.03%1.04%-3 bps
Allowance Coverage of NPLs217.0xn/a39.3xn/a9841.0x120.9x1556.3x9316.0xn/a
Capital
Tier 1 Leverage Ratio11.24%11.18%11.12%11.05%11.36%11.53%11.72%10.33%-72 bps
Total Risk-Based Capital16.94%16.47%16.92%16.56%16.66%16.75%17.53%15.65%-91 bps
Equity / Assets8.79%8.60%9.34%8.93%9.16%9.34%10.04%8.84%-9 bps
Liquidity & Funding
Loans / Deposits62.09%66.36%65.12%64.84%64.46%68.12%62.99%62.54%-230 bps
Liquid Assets / Assets2.78%2.94%2.74%2.22%2.15%2.91%4.08%4.47%+226 bps
CRE / Total Capitaln/an/an/an/an/an/a335%378%n/a