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Q2 2026 · read from the 30 June 2026 Call Report · United States · Mountain West · Utah, the state note

Happen Bank National Association

Lehi, Utah · $12.48B in assets · beside the 11 other Utah banks over $10B

The filing

74.4%
Efficiency
12th of 12
3.3%
CRE / loans
10th of 12
64.9%
Loans / deposits
3rd of 12

Happen Bank National Association is the eleventh largest of the 12 Utah banks nearest its size over $10B, with $12.48B in assets at 30 June 2026. Loans are 64.9% of deposits, 3rd of 12 against a median of 95.9%, and equity is 11.5% of assets, 6th of 12. Loans grew +16.9% in the year, 3rd of 12, and deposits grew 17.2%; the cohort's median loan growth is +8.2%.

Noncurrent loans are 0.82% of the book, 9th of 12 against a median of 0.55%; 0.73% is 30 to 89 days past due, and the allowance covers them 3.3 times. Net charge-offs are 2.07% of loans, 9th of 12. Commercial real estate is 3.3% of loans, 10th of 12 against a median of 0.3%, and 16% of capital, below the 300% screen, with construction at 5% against the 100% screen.

Return on assets is 1.79%, 8th of 12 against a median of 2.07%, on an efficiency ratio of 74.4%, the highest in the cohort. Five years ago it was 0.74%. The question is which of these lines moves first over the next four quarters, and against which peer.

The efficiency ratioUT banks over $10B · 30 June 2026 · lower is stronger, listed first
median 52.6% BB BMW Bank of North America 17.1% UB UBS Bank USA National Association 26.3% OB Optum Bank Inc 29.2% SM Sallie Mae Bank 33.0% SB Synchrony Bank 36.8% AB Ally Bank 49.0% CC Comenity Capital Bank 56.2% WB Wex Bank 57.3% ZB Zions Bcorp N A 62.8% SB Sofi Bank National Association 67.3% AE American Express National Bank 71.8% HB Happen Bank National Association 74.4%
Loans, year over yearUT banks over $10B · 30 June 2026 · no better direction, largest first
median +8.2% SB Sofi Bank National Association +54.1% OB Optum Bank Inc +25.3% HB Happen Bank National Association +16.9% WB Wex Bank +16.0% BB BMW Bank of North America +8.6% CC Comenity Capital Bank +8.3% AB Ally Bank +8.0% AE American Express National Bank +7.2% UB UBS Bank USA National Association +6.9% SB Synchrony Bank +2.7% ZB Zions Bcorp N A +2.5% SM Sallie Mae Bank -7.0%

SBA 7(a), FY2008 to FY2026

Happen Bank National Association is the 50th largest 7(a) lender into Florida of 528, with $144M across 105 loans, 0.5% of everything approved in the state (Live Oak Banking Company leads with $1.78B). 209 of its 316 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Florida, and where it has gone quietshare movement, FY2023 to FY2025 against FY2020 to FY2022; outlined counties are on the book
Gaining shareLosing shareFlatGone quiet: nothing since FY2023Too thin to read a directionNo record
Every market on the book, largest firstrank and share among every lender in the county, FY2008 to FY2026
CountyApprovedRankShareTrend
Cook, IL$93M15th of 2821.4%-5.2 pts
Broward, FL$33M24th of 2091.1%-0.3 pts
Los Angeles, CA$29M83rd of 3080.1%+0.0 pts
Palm Beach, FL$28M25th of 1951.1%-0.4 pts
Maricopa, AZ$22M52nd of 3030.3%-0.2 pts
Dupage, IL$20M23rd of 1881.0%-2.7 pts
Miami-Dade, FL$17M41st of 2150.4%-1.0 pts
Middlesex, MA$16M23rd of 1901.0%-0.3 pts
Dallas, TX$15M73rd of 3140.3%-0.2 pts
Lake, IL$14M19th of 1601.3%-4.6 pts
Johnson, KS$12M27th of 1851.0%+3.6 pts
New York, NY$12M42nd of 2080.4%thin
Suffolk, MA$11M16th of 1301.7%thin
303 smaller markets not shown.
What it lends to: the five largest industries on the bookshare of book is concentration; share of sector and rank are position, among every 7(a) lender nationally
IndustryLoansApprovedShare of bookShare of sectorRank
Accommodation & food services197$166M16.7%0.22%100th of 2,596
Other services160$143M14.4%0.41%52nd of 2,248
Retail trade136$109M11.0%0.18%104th of 2,589
Arts, entertainment & recreation105$100M10.0%0.70%29th of 1,656
Health care & social assistance96$99M9.9%0.21%73rd of 2,172
7(a) lenders into Florida, share of approvals since FY2008528 lenders on record; the ten largest and Happen Bank National Association
LO Live Oak Banking Company 6.1% $1.78B · 1,383 loans TB Truist Bank 4.5% $1.31B · 2,609 loans WF Wells Fargo Bank National Associa… 4.3% $1.25B · 5,346 loans TB TD Bank, National Association 3.5% $1.03B · 6,653 loans TH The Huntington National Bank 3.3% $954M · 2,284 loans NB Newtek Bank, National Association 2.6% $757M · 1,920 loans NS Newtek Small Business Finance, In… 2.5% $728M · 1,047 loans SB Southstate Bank, National Associa… 2.4% $700M · 1,040 loans RL Readycap Lending, LLC 2.1% $615M · 1,593 loans PB Pinnacle Bank 2.1% $609M · 729 loans HB Happen Bank 0.5% $144M · 105 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; owner-occupied excluded; bold marks a screen met
Happen Bank National AssociationRankCohort median
Total CRE against capital, the 300% screen16%9th of 122%
Construction against capital, the 100% screen5%11th of 120%
Construction and land development, share of loans0.9%11th of 120.0%
Non-owner-occupied nonfarm nonresidential, share of loans2.0%10th of 120.0%
Total CRE, the guidance definition, share of loans3.3%10th of 120.3%
CRE growth over 36 months, the third prong-6.2%4th of 10+17.1%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
American Express National Bank$213.95B3.7%71.8%0.63%2.39%3.3%100.5%9.0%
Ally Bank$188.18B1.2%49.0%0.85%1.13%2.5%91.9%8.3%
UBS Bank USA National Association$124.44B1.1%26.3%0.12%-0.01%0.1%85.1%7.6%
Synchrony Bank$115.22B2.8%36.8%2.04%5.38%10.2%114.9%12.9%
Zions Bcorp N A$89.04B1.5%62.8%0.47%0.04%1.1%81.7%8.6%
Sofi Bank National Association$56.82B1.9%67.3%0.08%0.07%0.1%99.9%12.8%
Sallie Mae Bank$28.54B2.8%33.0%0.65%1.91%6.4%103.9%10.2%
Optum Bank Inc$21.43B2.5%29.2%0.21%0.22%0.9%60.2%14.8%
Comenity Capital Bank$13.86B1.7%56.2%3.21%7.47%11.4%107.2%13.0%
BMW Bank of North America$13.80B2.2%17.1%0.09%0.19%0.5%107.5%12.8%
Happen Bank National Association$12.48B1.8%74.4%0.82%2.07%2.7%64.9%11.5%
Wex Bank$10.71B4.0%57.3%0.44%1.69%1.3%55.4%8.0%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Happen Bank National AssociationCohort median
20212026Change20212026Change
Loans$2.50B$7.04B+181%$14.99B$33.92B+126%
Deposits$2.54B$10.85B+327%$16.64B$33.55B+102%
NPA / loans0.68%0.82%+0.14 pts0.64%0.55%-0.09 pts
Efficiency78.4%74.4%-4.0 pts47.2%52.6%+5.3 pts
ROA0.74%1.79%+1.06 pts2.05%2.07%+0.01 pts

This read was prepared for Happen Bank National Association's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on Happen Bank National Association is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort UT banks over $10B
Institution www.happen.com

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by state and asset band; SBA 7(a) FOIA release as of the 2026 file, loans credited to the institution holding them today. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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