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Q2 2026 · read from the 30 June 2026 Call Report · United States · Southwest · Arizona, the state note

USAA Federal Savings Bank

Phoenix, Arizona · $106.19B in assets · beside the 11 other the Southwest banks over $10B (the state alone holds too few in the band to rank)

The filing

5.5%
Equity / assets
12th of 12
0.0%
CRE / loans
1st of 12
3.8x
Coverage of noncurrent
1st of 11

USAA Federal Savings Bank is the largest of the 12 the Southwest banks nearest its size over $10B, with $106.19B in assets at 30 June 2026. Loans are 50.3% of deposits, 2nd of 12 against a median of 77.8%, and equity is 5.5% of assets, the lowest in the cohort. Loans grew +5.0% in the year, 6th of 12, and deposits fell 0.9%; the cohort's median loan growth is +4.6%.

Noncurrent loans are 1.07% of the book, 7th of 12 against a median of 0.92%; 0.62% is 30 to 89 days past due, and the allowance covers them 3.8 times. Net charge-offs are 2.03% of loans, the highest in the cohort. Commercial real estate is 0.0% of loans, the lowest in the cohort against a median of 23.0%, and 0% of capital, below the 300% screen, with construction at 0% against the 100% screen.

Return on assets is 0.91%, 10th of 12 against a median of 1.16%, on an efficiency ratio of 69.2%, 10th of 12. Five years ago it was -0.18%. The question this shape raises is what the liquidity earns, and what a rate path does to the securities book and the deposit base.

Commercial real estate, share of loansSouthwest banks over $10B · 30 June 2026 · lower is stronger, listed first
median 23.0% UF USAA Federal Savings Bank 0.0% CS Charles Schwab Premier Bank SS 0.0% N Nexbank 15.8% TC Texas Capital Bank 16.1% MB MidFirst Bank 19.6% WA Western Alliance Bank 21.8% FF First Financial Bank 24.2% FB Frost Bank 27.7% BN BOKF National Association 27.8% PB Prosperity Bank 31.1% SB Sunflower Bank National Association 35.3% FU First United Bank & Trust Co. 38.3%
Loans, year over yearSouthwest banks over $10B · 30 June 2026 · no better direction, largest first
median +4.6% SB Sunflower Bank National Association +77.5% PB Prosperity Bank +12.8% BN BOKF National Association +11.5% WA Western Alliance Bank +10.5% FB Frost Bank +8.1% UF USAA Federal Savings Bank +5.0% TC Texas Capital Bank +4.3% FF First Financial Bank +3.2% MB MidFirst Bank +1.7% FU First United Bank & Trust Co. +0.1% N Nexbank -2.2% CS Charles Schwab Premier Bank SS -100.0%

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
USAA Federal Savings BankRankCohort median
Total CRE against capital, the 300% screen0%1st of 12127%
Construction against capital, the 100% screen0%1st of 1226%
Construction and land development, share of loans0.0%1st of 124.5%
Non-owner-occupied nonfarm nonresidential, share of loans0.0%1st of 1211.8%
Total CRE, the guidance definition, share of loans0.0%1st of 1223.0%
CRE growth over 36 months, the third prong-100.0%1st of 11+4.4%
Commercial real estate against capital, the 300% screenSouthwest banks over $10B · 30 June 2026 · lower is stronger, listed first
median 127% UF USAA Federal Savings Bank 0% CS Charles Schwab Premier Bank SS 0% TC Texas Capital Bank 105% FF First Financial Bank 107% N Nexbank 116% FB Frost Bank 123% BN BOKF National Association 131% MB MidFirst Bank 161% WA Western Alliance Bank 161% PB Prosperity Bank 171% SB Sunflower Bank National Association 228% FU First United Bank & Trust Co. 280%
CRE growth over 36 months, the guidance's third prongSouthwest banks over $10B · 30 June 2026 · lower is stronger, listed first
median +4.4% UF USAA Federal Savings Bank -100.0% N Nexbank -33.0% TC Texas Capital Bank -7.1% WA Western Alliance Bank -0.3% FU First United Bank & Trust Co. +3.1% FB Frost Bank +4.4% BN BOKF National Association +8.7% MB MidFirst Bank +10.4% PB Prosperity Bank +12.7% FF First Financial Bank +17.2% SB Sunflower Bank National Association +224.9%

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
USAA Federal Savings Bank$106.19B0.9%69.2%1.07%2.03%4.1%50.3%5.5%
Western Alliance Bank$98.57B1.1%55.9%2.82%0.80%0.7%79.7%8.0%
Frost Bank$53.95B1.3%62.5%0.55%0.13%1.2%52.6%8.6%
BOKF National Association$52.98B1.2%62.4%0.54%0.02%1.0%67.8%10.8%
Prosperity Bank$43.88B1.4%51.1%0.48%0.35%1.5%76.0%18.5%
MidFirst Bank$42.83B1.4%52.9%18.31%0.06%0.6%132.4%9.8%
Texas Capital Bank$33.62B1.0%59.3%0.50%0.27%1.1%84.9%10.1%
Charles Schwab Premier Bank SS$26.58B1.5%14.9%0.00%0.00%0.0%0.0%7.9%
First United Bank & Trust Co.$16.59B0.9%71.5%1.69%0.06%1.0%96.0%9.7%
Sunflower Bank National Association$15.65B0.2%75.2%1.63%0.90%1.5%86.9%12.3%
First Financial Bank$15.23B1.7%44.9%0.77%-0.01%1.3%62.9%11.8%
Nexbank$14.16B1.1%50.8%1.47%0.06%0.4%84.5%8.4%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
USAA Federal Savings BankCohort median
20212026Change20212026Change
Loans$39.10B$46.22B+18%$17.93B$23.97B+34%
Deposits$101.20B$91.97B-9%$29.24B$27.35B-6%
NPA / loans4.65%1.07%-3.58 pts0.95%0.92%-0.03 pts
Efficiency108.7%69.2%-39.5 pts56.3%57.6%+1.3 pts
ROA-0.18%0.91%+1.10 pts1.27%1.16%-0.10 pts

This read was prepared for USAA Federal Savings 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 USAA Federal Savings 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 Southwest banks over $10B
Institution www.usaa.com

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by New England 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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