Q2 2026 net income +25% to $36.3M; LIHTC swap revenue surges 69% as efficiency improves 430bp

Filed August 7, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 8, 2025 · ~1 min read

Key Changes

• high

  Efficiency ratio improved 430bp YoY to 54.6% as revenue growth (swap fees, wealth management) outpaced 7% expense increase; ROAA reached 1.51% vs 1.29% prior year.

  MD&A: Operating Leverage verify on EDGAR →
• high

  Adjusted loan growth accelerated to 12% annualized (excluding securitization, LIHTC offtake, m2 runoff) from 8% prior year; company executed $443.6M in LIHTC loan offtake transactions.

  MD&A: Loan Growth verify on EDGAR →
• high

  m2 Equipment Finance discontinued new lending in Q3 2024; portfolio ran off from $237.1M to $128.7M, representing strategic exit from direct financing lease business.

  Notes: m2 Wind-Down verify on EDGAR →