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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=581 to 629). 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

26

Q2 2024Q2 2026peer median (50)

Asset Quality

51

Q2 2024Q2 2026peer median (50)

Profitability

26

Q2 2024Q2 2026peer median (50)

Liquidity

35

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 2026-10-11

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 $5.4MQ3 2024Q2 2026
Deposit mix
78%Interest-bearing $401.0M22%Noninterest $112.7MQ3 2024Q2 2026

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.

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

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%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.97%0.71%0.26%0.29%0.31%0.37%0.40%0.51%+22 bps
Return on Equity11.33%8.19%2.94%3.31%3.54%4.23%4.56%5.77%+246 bps
Net Interest Margin2.47%2.54%2.73%2.75%2.76%2.77%3.21%3.21%+46 bps
Efficiency Ratio71.83%78.14%88.72%88.09%87.65%86.87%82.90%81.59%-650 bps
Non-Interest Burden1.50%1.79%2.39%2.38%2.37%2.36%2.61%2.56%+18 bps
Growth
Asset Growth (YoY)6.07%6.57%1.93%0.60%3.76%3.04%6.99%4.86%+425 bps
Loan Growth (YoY)-1.99%-3.39%-1.15%2.24%5.39%9.83%9.32%10.20%+796 bps
Deposit Growth (YoY)3.10%6.64%1.42%0.56%6.70%2.85%7.34%3.94%+338 bps
Asset Quality
Nonperforming Loans / Loans0.68%0.55%0.47%0.48%0.47%0.38%0.48%0.47%-1 bps
Net Charge-Offs / Loans0.06%0.04%-0.06%-0.05%-0.03%-0.02%0.02%0.01%+6 bps
Allowance / Loans0.94%1.01%1.00%0.98%0.95%0.92%0.91%0.88%-10 bps
Allowance Coverage of NPLs1.4x1.8x2.1x2.0x2.0x2.4x1.9x1.9x-0.2x
Capital
Tier 1 Leverage Ratio8.46%8.50%8.76%8.80%8.71%8.62%8.72%8.82%+2 bps
Total Risk-Based Capital13.71%13.32%14.16%12.90%12.59%12.41%12.37%12.26%-64 bps
Equity / Assets8.77%8.72%8.93%8.91%8.62%8.92%8.77%8.98%+7 bps
Liquidity & Funding
Loans / Deposits89.03%86.19%88.44%89.92%87.93%92.04%90.07%95.33%+541 bps
Liquid Assets / Assets8.25%8.66%6.26%4.69%6.79%4.01%5.52%0.93%-376 bps
CRE / Total Capitaln/an/an/an/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 2026-10-11

Bay State Savings Bank

Worcester, MA · Cert 90311 · Peer group: banks under $1B in assets (n=581-629) · 1895 MHC

SI · FDIC · 7 branches

Q2 2026

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

Executive Summary

  • Strongest standing: net charge-offs / loans outperforms 52% of banks under $1B in assets (rank 281 of 581).
  • Widest gap: return on assets trails 80% of banks under $1B in assets (rank 501 of 629).
  • Overall: at or above the peer median on 2 of 9 directional measures.

Return on Assets

0.51%

Rank 501 of 629

Net Interest Margin

3.21%

Rank 426 of 629

Efficiency Ratio

81.59%

Rank 493 of 629

Equity / Assets

8.98%

Rank 483 of 629

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 67.8%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets0.51%0.60%1.01%1.45%Beats 20%501 / 629
Return on Equity5.70%5.38%9.30%13.28%Beats 26%463 / 629
Net Interest Margin3.21%3.03%3.54%4.05%Beats 32%426 / 629
Efficiency Ratio81.59%58.35%67.79%79.08%Beats 22%493 / 629
Asset Quality
Nonperforming Loans / Loans0.47%0.09%0.46%1.20%Beats 50%294 / 581
Net Charge-Offs / Loans0.01%n/a0.01%0.06%Beats 52%281 / 581
Capital
Tier 1 Capital Ratio11.24%11.24%13.84%18.77%Beats 25%474 / 629
Total Risk-Based Capital Ratio12.26%11.58%14.43%19.66%Beats 31%435 / 629
Equity / Assets8.98%9.09%10.65%13.80%Beats 23%483 / 629
Liquidity & Funding
Loans / Deposits95.33%67.24%80.90%93.48%79th pctl127 / 594
Loans / Assets84.39%53.31%67.71%78.15%91st pctl58 / 629
Brokered Deposits / Depositsn/aNot reported for this institution