Square Financial Services Inc.
Salt Lake City, UT·RSSD 5582846·FDIC 59177·bank:5582846·Risk-based ratios where reported
- #25 of 45Total assets in Utah
- 1offices
- 181employees
- Top 1%Net interest margin vs. peers
- Top 1%Return on assets vs. peers
- #1 of 3,709Margin improvement in the U.S.
Performance over time
22 available quarters · Gaps indicate missing data · Reported period-end total assets; consolidated for FFIEC 031.
Inside the balance sheet
FDIC reported categories · Shares of reported gross loans. Missing components are not treated as zero.
What stands out at Square Financial Services Inc.
12 of 24 FORFI signals stand out against 629 similar banks, based on FDIC data for the quarter.
Net charge-offs rising while the peer median holds steadyWorth a look: Asset quality 2nd quarter15.60%peers 0.02%+1558 bps
Square Financial Services Inc.'s annualized net charge-off rate rose 970 bps over the past year to 15.60%. Among 623 similar banks, the median was essentially unchanged.
| This institution | Peer median | Difference |
|---|---|---|
| Annualized net charge-off rate | ||
| 15.60% | 0.02% | +1558 bps |
| 12-month change | ||
| +970 bps | 0 bps | +969 bps |
FORFI flags a change when an institution sits in the outer tail of similar institutions and the gap is large enough to matter. Peers: 629 banks with $1 billion to $3 billion in assets that filed FDIC data for the same quarter. Square Financial Services Inc. itself is left out of every peer median and percentile. How signals work
Lending absorbing more of the deposit base as cash fallsWorth a look: Liquidity 2nd quarter249.0%+81.4 pp in 12 months
Square Financial Services Inc.'s loans rose to 249.0% of deposits, 81.4 percentage points higher than a year earlier, while cash fell to 34.2% of assets. The median change in the loan-to-deposit ratio among 625 similar banks was +0.2 pp.
| Observed | Change |
|---|---|
| Loans / deposits | |
| 249.0% | +81.4 pp in 12 months |
| Cash / assets | |
| 34.2% | -9.9 pp in 12 months |
FORFI flags a change when an institution sits in the outer tail of similar institutions and the gap is large enough to matter. Peers: 629 banks with $1 billion to $3 billion in assets that filed FDIC data for the same quarter. Square Financial Services Inc. itself is left out of every peer median and percentile. How signals work
Net interest margin widening faster than peersStrength: Earnings 2nd quarter43.72%peers 3.81%+3990 bps
Square Financial Services Inc.'s net interest margin rose 2402 bps over the past year to 43.72%. Among 628 similar banks, the median rose 23 bps.
| This institution | Peer median | Difference |
|---|---|---|
| Net interest margin | ||
| 43.72% | 3.81% | +3990 bps |
| 12-month change | ||
| +2402 bps | +23 bps | +2378 bps |
FORFI flags a change when an institution sits in the outer tail of similar institutions and the gap is large enough to matter. Peers: 629 banks with $1 billion to $3 billion in assets that filed FDIC data for the same quarter. Square Financial Services Inc. itself is left out of every peer median and percentile. How signals work
Loans growing faster than peersStrength: Lending 2nd quarter+124.1%peers +5.7%+118.4 pp
Square Financial Services Inc.'s loans grew 124.1% over the past year to $1.4 billion. The median among 624 similar banks was +5.7%.
| This institution | Peer median | Difference |
|---|---|---|
| Loans, 12-month growth | ||
| +124.1% | +5.7% | +118.4 pp |
| Loans | ||
| $1.4 billion | ||
FORFI flags a change when an institution sits in the outer tail of similar institutions and the gap is large enough to matter. Peers: 629 banks with $1 billion to $3 billion in assets that filed FDIC data for the same quarter. Square Financial Services Inc. itself is left out of every peer median and percentile. How signals work
Noninterest-bearing deposit share rising while the peer median fallsStrength: Funding 2nd quarter16.3%peers 19.5%-3.2 pp
Square Financial Services Inc.'s share of deposits that pay no interest rose 8.0 percentage points over the past year to 16.3%. Among 625 similar banks, the median was essentially unchanged.
| This institution | Peer median | Difference |
|---|---|---|
| Share of deposits that pay no interest | ||
| 16.3% | 19.5% | -3.2 pp |
| 12-month change | ||
| +8.0 pp | 0.0 pp | +8.1 pp |
FORFI flags a change when an institution sits in the outer tail of similar institutions and the gap is large enough to matter. Peers: 629 banks with $1 billion to $3 billion in assets that filed FDIC data for the same quarter. Square Financial Services Inc. itself is left out of every peer median and percentile. How signals work
7 more observations
- Return on assets rising faster than peersEarnings
- Fee and other noninterest income among the highest of similar banksEarnings
- Leverage capital ratio rising faster than peersCapital
- Total assets growing faster than peersGrowth
- Deposits growing faster than peersFunding
- Efficiency ratio falling faster than peersEfficiency
- Problem loans falling while the peer median risesAsset quality
Key facts
- Square Financial Services Inc. is a bank headquartered in Salt Lake City, Utah. It reported $2.1 billion in total assets for the quarter ended June 30, 2026.
- Deposits totaled $559 million, up 50.8% from a year earlier, and loans totaled $1.4 billion, up 124.1%.
- Its net interest margin was 43.72% and its annualized return on assets was 37.59% for the quarter.
- Its cost of all deposits was 1.30%, compared with a median of 1.94% among 625 similar banks with $1 billion to $3 billion in assets.
Scorecard against peers
Capitalization
Liquidity & funding
Margin & yield
Income & expense
Asset quality
Charge-offs & allowance
Arrows show whether the value sits above or below the peer median. Colour shows whether that side is favourable for the measure: green favourable, red unfavourable, grey where neither side is (for example, a lower loan-to-core-deposit ratio is favourable, so a negative gap is green). Peer medians cover the same source, form, period, institution type and asset band, and count this institution in its own cohort. The peer line on every chart reads the same cohort. Regulatory definitions differ from FORFI quarterly estimates.
Watch items
Screening prompts computed from this filing only. Thresholds follow common review conventions and interagency concentration references; they are not supervisory ratings or predictions.
Public filings show what changed. Internal data shows why.
With Square Financial Services Inc.'s own data, FORFI would look at: Which borrowers and segments are migrating toward delinquency, before losses arrive.
Analysis workspaces
Sources and identifiers
- Institution
- Square Financial Services Inc. · Bank
- Federal Reserve RSSD
- 5582846
- FDIC certificate
- 59177
- Reporting period
- Peer group
- 629 banks with $1 billion to $3 billion in assets that filed FDIC data for the same quarter. Square Financial Services Inc. itself is left out of every peer median and percentile.
Figures are FORFI calculations from public regulatory filings, shown as reported. Signals are descriptive screening rules, not supervisory ratings, credit opinions or forecasts. Methodology
Income & calculation basis
FDIC · 2026-04-01 through 2026-06-30 · Annualization factor 4.010989 applies to ROA and margin only.
| Measure | FORFI calculation | FDIC published reference |
|---|---|---|
| $180.93M | — | |
| $197.69M | — | |
| $1.72M | — | |
| $195.97M | — | |
| $175.12M | — | |
| $60.11M | — | |
| $72.04M | — | |
| $72.04M | — | |
| 37.59% | 37.48%ROAQ · Quarter | |
| 43.72% | 43.60%NIMYQ · Quarter | |
| 16.20% | 16.20%EEFFQR · adjusted · Quarter |
Credit-quality reconciliation · Source components agree. NALNLS (nonaccrual) + P9LNLS (90+ days accruing) = NCLNLS (noncurrent).
How to interpret differences
Flows cover the selected income window. Balance-sheet amounts, members and staffing are as of the filing date.
Published FDIC references use the regulator's own averaging, annualization and adjustments; the convention selector changes FORFI calculations only. Source-provided averages are used when available; endpoint fallbacks are labeled estimates.
Missing inputs remain unavailable. Credit-union margins use average assets and are not comparable with bank margins over earning assets.
AFS + HTM securities exclude deposits at other institutions. Broader investment totals may overlap cash; do not add them to cash without reconciling components.
Regulatory source definitionsFiling imported 2026-09-25T00:32:31.073937+00:00. Separate reference provenance is included in the export.