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Bay State Savings Bank

Worcester, MA · Cert 90311 · 1895 MHC

SI · FDIC · 7 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B 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 under $1B in assets (n=573 to 620). 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

27

Q2 2024Q2 2026peer median (50)

Asset Quality

51

Q2 2024Q2 2026peer median (50)

Profitability

27

Q2 2024Q2 2026peer median (50)

Liquidity

33

Q2 2024Q2 2026peer median

Efficiency

22

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 2026-10-10

Bay State Savings Bank

Worcester, MA · Cert 90311 · 1895 MHC

SI · FDIC · 7 branches

Q2 2026

$580.3MAssets
$489.7MLoans
$513.7MDeposits
$52.1MEquity
Loan mix
94%RE $442.7M5%C&I $23.8M1%Consumer $5.4MQ2 2025Q2 2026
Deposit mix
78%Interest-bearing $401.0M22%Noninterest $112.7MQ2 2025Q2 2026

NIM

4.56%Q2 ’244.61%Q2 ’254.86%Q2 ’26+9%+17%

Non-interest income vs. expense

2.56%Q2 ’242.67%Q2 ’252.82%Q2 ’26+102%+8%

Market Position · Worcester, MA · 2026 SOD (annual) · 2.3% share · #15 of 26 inst. · $0.5B of $22.5B

Executive Summary

  • Earnings: ROA of 0.51%, up 22 bps year over year; NIM at 3.21%.
  • Asset quality: problem loans at 0.47% of loans (-1 bps YoY), with net charge-offs at 0.01%.
  • Capital: tier 1 leverage ratio of 8.82%, up 2 bps from a year ago.
  • Funding: loans stand at 95.33% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.51%+22 bps YoY

Net Interest Margin (YTD, annualized)

3.21%+46 bps YoY

Efficiency Ratio (YTD, annualized)

81.59%-650 bps YoY

Tier 1 Leverage Ratio

8.82%+2 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.29%0.31%0.37%0.40%0.51%+22 bps
Return on Equity3.31%3.54%4.23%4.56%5.77%+246 bps
Net Interest Margin2.75%2.76%2.77%3.21%3.21%+46 bps
Efficiency Ratio88.09%87.65%86.87%82.90%81.59%-650 bps
Non-Interest Burden2.38%2.37%2.36%2.61%2.56%+18 bps
Growth
Asset Growth (YoY)0.60%3.76%3.04%6.99%4.86%+425 bps
Loan Growth (YoY)2.24%5.39%9.83%9.32%10.20%+796 bps
Deposit Growth (YoY)0.56%6.70%2.85%7.34%3.94%+338 bps
Asset Quality
Nonperforming Loans / Loans0.48%0.47%0.38%0.48%0.47%-1 bps
Net Charge-Offs / Loans-0.05%-0.03%-0.02%0.02%0.01%+6 bps
Allowance / Loans0.98%0.95%0.92%0.91%0.88%-10 bps
Allowance Coverage of NPLs2.0x2.0x2.4x1.9x1.9x-0.2x
Capital
Tier 1 Leverage Ratio8.80%8.71%8.62%8.72%8.82%+2 bps
Total Risk-Based Capital12.90%12.59%12.41%12.37%12.26%-64 bps
Equity / Assets8.91%8.62%8.92%8.77%8.98%+7 bps
Liquidity & Funding
Loans / Deposits89.92%87.93%92.04%90.07%95.33%+541 bps
Liquid Assets / Assets4.69%6.79%4.01%5.52%0.93%-376 bps
CRE / Total Capitaln/a355%355%351%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 2026-10-10

Bay State Savings Bank

Worcester, MA · Cert 90311 · Peer group: banks under $1B in assets (n=573-620) · 1895 MHC

SI · FDIC · 7 branches

Q2 2026

$580.3MAssets
$489.7MLoans
$513.7MDeposits
$52.1MEquity

Executive Summary

  • Strongest standing: nonperforming loans / loans outperforms 51% of banks under $1B in assets (rank 283 of 573).
  • Widest gap: return on assets trails 80% of banks under $1B in assets (rank 493 of 620).
  • Overall: at or above the peer median on 2 of 9 directional measures.

Return on Assets

0.51%

Rank 493 of 620

Net Interest Margin

3.21%

Rank 416 of 620

Efficiency Ratio

81.59%

Rank 486 of 620

Equity / Assets

8.98%

Rank 472 of 620

Non-interest income vs. expense

$1.5M$16.2MINCOMEEXPENSE
Unfavorable gap of $14.7M · efficiency ratio beats 22% of banks under $1B in assets
Bank 81.59%Peer median 68.1%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets0.51%0.60%1.00%1.45%Beats 20%493 / 620
Return on Equity5.70%5.30%9.30%13.29%Beats 27%454 / 620
Net Interest Margin3.21%3.02%3.53%4.04%Beats 33%416 / 620
Efficiency Ratio81.59%58.35%68.08%79.37%Beats 22%486 / 620
Asset Quality
Nonperforming Loans / Loans0.47%0.09%0.47%1.27%Beats 51%283 / 573
Net Charge-Offs / Loans0.01%n/a0.01%0.06%Beats 50%285 / 573
Capital
Tier 1 Capital Ratio11.24%11.27%13.87%18.78%Beats 25%468 / 620
Total Risk-Based Capital Ratio12.26%11.69%14.57%19.67%Beats 31%429 / 620
Equity / Assets8.98%9.03%10.60%13.73%Beats 24%472 / 620
Liquidity & Funding
Loans / Deposits95.33%65.08%79.69%92.47%80th pctl119 / 585
Loans / Assets84.39%51.85%67.17%77.86%92nd pctl52 / 620
Brokered Deposits / Depositsn/aNot reported for this institution