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

Thrivent Bank

Salt Lake City, Utah · $906M in assets · beside the 8 other Utah banks between $300M and $1B

The filing

104.8%
Loans / deposits
9th of 9
36.7%
Equity / assets
2nd of 9
-1.44%
ROA
8th of 9

Thrivent Bank is the second largest of the 9 Utah banks between $300M and $1B, with $906M in assets at 30 June 2026. Loans are 104.8% of deposits, the highest in the cohort against a median of 77.1%, and equity is 36.7% of assets, 2nd of 9. Loans grew +3.6% in the year, 5th of 9, and deposits fell 14.6%; the cohort's median loan growth is +3.6%.

Noncurrent loans are 0.26% of the book, 3rd of 9 against a median of 0.44%; 0.53% is 30 to 89 days past due, and the allowance covers them 1.8 times. Net charge-offs are 0.28% of loans, 4th of 9. Commercial real estate is 24.2% of loans, 6th of 9 against a median of 9.6%, and 44% of capital, below the 300% screen, with construction at 1% against the 100% screen.

Return on assets is -1.44%, 8th of 9 against a median of 1.15%, on an efficiency ratio of 135.5%, 8th of 9. The question is which of these lines moves first over the next four quarters, and against which peer.

Loans as a share of depositsUT banks $300M to $1B · 30 June 2026 · lower is stronger, listed first
median 77.1% VB Varo Bank National Association 46.3% GV Grand Valley Bank 53.0% PB Pitney Bowes Bank Inc 69.5% FE First Electronic Bank 71.6% BB Brighton Bank 77.1% FU First Utah Bank 92.1% FB Finwise Bank 102.0% MB Milestone Bank 104.7% TB Thrivent Bank 104.8%
Loans, year over yearUT banks $300M to $1B · 30 June 2026 · no better direction, largest first
median +3.6% FE First Electronic Bank +26.5% VB Varo Bank National Association +15.6% FB Finwise Bank +10.0% PB Pitney Bowes Bank Inc +6.9% TB Thrivent Bank +3.6% GV Grand Valley Bank +1.8% BB Brighton Bank -3.8% FU First Utah Bank -4.3% MB Milestone Bank -18.6%

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; Tier 1 stands in for the 7 CBLR filers; owner-occupied excluded; bold marks a screen met
Thrivent BankRankCohort median
Total CRE against capital, the 300% screen44%4th of 944%
Construction against capital, the 100% screen1%4th of 937%
Construction and land development, share of loans0.4%4th of 98.0%
Non-owner-occupied nonfarm nonresidential, share of loans19.2%8th of 91.1%
Total CRE, the guidance definition, share of loans24.2%6th of 99.6%
CRE growth over 36 months, the third prongno record+48.7%
Commercial real estate against capital, the 300% screenUT banks $300M to $1B · 30 June 2026 · lower is stronger, listed first
median 44% FE First Electronic Bank 0% VB Varo Bank National Association 0% PB Pitney Bowes Bank Inc 2% TB Thrivent Bank 44% FB Finwise Bank 44% MB Milestone Bank 54% GV Grand Valley Bank 102% BB Brighton Bank 272% FU First Utah Bank 290%
CRE growth over 36 months, the guidance's third prongUT banks $300M to $1B · 30 June 2026 · lower is stronger, listed first
median +48.7% GV Grand Valley Bank -19.0% BB Brighton Bank +15.3% PB Pitney Bowes Bank Inc +45.0% FU First Utah Bank +52.4% FB Finwise Bank +96.7% MB Milestone Bank +5558.9%

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
Finwise Bank$915M1.5%56.8%5.11%6.10%6.4%102.0%17.9%
Thrivent Bank$906M-1.4%135.5%0.26%0.28%0.5%104.8%36.7%
First Utah Bank$840M0.7%61.2%6.39%1.07%1.5%92.1%10.2%
Pitney Bowes Bank Inc$796M5.4%32.0%0.44%1.25%1.7%69.5%9.7%
Grand Valley Bank$599M1.2%60.4%0.02%0.01%1.9%53.0%9.2%
First Electronic Bank$503M8.8%45.9%0.01%0.08%0.6%71.6%39.4%
Milestone Bank$342M0.7%59.6%5.32%3.67%2.4%104.7%15.6%
Varo Bank National Association$338M-27.1%138.2%0.42%29.82%10.0%46.3%20.4%
Brighton Bank$322M1.9%62.1%0.49%0.00%1.2%77.1%10.1%

This read was prepared for Thrivent Bank'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 Thrivent Bank 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 $300M to $1B
Institution www.thriventbank.com

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by state and asset band. 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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