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Q2 2026 · read from the 30 June 2026 Call Report · United States · Plains · South Dakota, the state note

Pathward National Association

Sioux Falls, South Dakota · $7.31B in assets · beside the 5 other South Dakota banks between $3B and $10B

The filing

5.28%
NPA / loans
6th of 6
0.8%
CRE / loans
1st of 6
0.4x
Coverage of noncurrent
6th of 6

Pathward National Association is the second largest of the 6 South Dakota banks between $3B and $10B, with $7.31B in assets at 30 June 2026. Loans are 87.4% of deposits, 3rd of 6 against a median of 90.6%, and equity is 12.1% of assets, 2nd of 6. Loans grew +8.6% in the year, 2nd of 6, and deposits fell 0.9%; the cohort's median loan growth is +7.6%.

Noncurrent loans are 5.28% of the book, the highest in the cohort against a median of 0.87%; 3.62% is 30 to 89 days past due, and the allowance covers them 0.4 times. Net charge-offs are 0.84% of loans, 5th of 6. Commercial real estate is 0.8% of loans, the lowest in the cohort against a median of 28.1%, and 5% of capital, below the 300% screen, with construction at 3% against the 100% screen.

Return on assets is 2.73%, 2nd of 6 against a median of 1.72%, on an efficiency ratio of 58.3%, 4th of 6. Five years ago it was 2.52%. The question is where the nonperforming loans sit by category, and whether the allowance and the capital behind them hold under a loss path.

Commercial real estate, share of loansSD banks $3B to $10B · 30 June 2026 · lower is stronger, listed first
median 28.1% PN Pathward National Association 0.8% FP First Premier Bank 13.8% DB Dacotah Bank 26.9% FD First Dakota National Bank 29.3% FB First Bank & Trust 29.6% BB Bcorp Bank National Association 33.6%
Loans, year over yearSD banks $3B to $10B · 30 June 2026 · no better direction, largest first
median +7.6% FD First Dakota National Bank +11.8% PN Pathward National Association +8.6% DB Dacotah Bank +8.2% BB Bcorp Bank National Association +7.0% FB First Bank & Trust +2.5% FP First Premier Bank -0.5%

SBA 7(a), FY2008 to FY2026

Pathward National Association is the 44th largest 7(a) lender into Florida of 528, with $173M across 108 loans, 0.6% of everything approved in the state (Live Oak Banking Company leads with $1.78B). 105 of its 313 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
Los Angeles, CA$36M73rd of 3080.2%+0.0 pts
Broward, FL$25M31st of 2090.8%+0.3 pts
Harris, TX$25M66th of 3140.3%+0.5 pts
Maricopa, AZ$22M54th of 3030.3%+0.5 pts
Miami-Dade, FL$17M40th of 2150.4%+0.2 pts
Suffolk, NY$15M31st of 1740.8%+0.6 pts
Pinellas, FL$15M34th of 1710.9%+0.8 pts
Bexar, TX$15M34th of 2370.7%+0.8 pts
Dallas, TX$15M75th of 3140.3%+0.9 pts
Sarasota, FL$15M16th of 1381.8%thin
Salt Lake, UT$14M34th of 1640.5%thin
Dupage, IL$14M30th of 1880.7%thin
Lee, FL$14M20th of 1691.3%thin
300 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
Finance & insurance226$214M18.8%3.00%6th of 1,111
Construction94$176M15.4%0.55%34th of 2,063
Accommodation & food services67$118M10.4%0.15%125th of 2,596
Retail trade69$101M8.9%0.17%109th of 2,589
Professional & technical services54$98M8.6%0.30%46th of 1,955
7(a) lenders into Florida, share of approvals since FY2008528 lenders on record; the ten largest and Pathward 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 PN Pathward National Association 0.6% $173M · 108 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; Tier 1 stands in for the 2 CBLR filers; owner-occupied excluded; bold marks a screen met
Pathward National AssociationRankCohort median
Total CRE against capital, the 300% screen5%1st of 6207%
Construction against capital, the 100% screen3%2nd of 635%
Construction and land development, share of loans0.4%2nd of 65.8%
Non-owner-occupied nonfarm nonresidential, share of loans0.3%1st of 68.8%
Total CRE, the guidance definition, share of loans0.8%1st of 628.1%
CRE growth over 36 months, the third prong-67.7%1st of 6+12.0%

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
Bcorp Bank National Association$9.21B2.9%41.3%1.33%1.57%0.9%96.0%9.6%
Pathward National Association$7.31B2.7%58.3%5.28%0.84%2.1%87.4%12.1%
Dacotah Bank$4.92B1.1%62.2%1.52%0.22%1.2%93.9%9.8%
First Bank & Trust$4.78B1.3%60.1%0.42%0.02%1.3%85.7%11.3%
First Premier Bank$3.64B1.8%57.6%0.10%0.19%1.4%73.8%13.5%
First Dakota National Bank$3.39B1.7%54.5%0.30%0.00%1.1%97.0%9.8%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Pathward National AssociationCohort median
20212026Change20212026Change
Loans$3.58B$5.21B+45%$2.51B$3.83B+53%
Deposits$5.89B$5.95B+1%$3.13B$4.26B+36%
NPA / loans1.17%5.28%+4.12 pts0.54%0.87%+0.33 pts
Efficiency55.7%58.3%+2.7 pts56.2%58.0%+1.8 pts
ROA2.52%2.73%+0.22 pts1.61%1.72%+0.10 pts

This read was prepared for Pathward 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 Pathward 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 SD banks $3B to $10B
Institution www.pathward.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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