Ion Bank: how it compares with its peers
Against 9 CT banks with half to twice its assets, Ion Bank's strongest measure in Q2 2026 is net interest margin (4.23% vs. a 3.46% peer median). Its weakest relative measure is assets per employee ($7.5M vs. $9.1M).
| Measure | Ion Bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 0.93% | 1.03% | Middle third Ahead of 44% of peers |
| Net interest margin Annualized net interest income over earning assets. | 4.23% | 3.46% | Top third Ahead of 100% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 72.60% | 67.45% | Bottom third Ahead of 22% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $7.5M | $9.1M | Bottom third Ahead of 0% of peers |
| Loans to deposits Net loans and leases over total deposits. | 87.32% | 96.36% | Context |
What it means for lending operations
Its efficiency ratio of 72.60% is above the 67.45% peer median: it spends more to earn each dollar of revenue than most banks its size. Staff time on manual borrower verification (collecting pay stubs, bank statements, and employment letters, then re-keying them) is one of the larger controllable costs behind that number.
Banks closest in size
- First County Bank Stamford, CT · $2.42B
- Union Savings Bank Danbury, CT · $3.30B
- Bankwell Bank New Canaan, CT · $3.47B
- Thomaston Savings Bank Thomaston, CT · $1.93B
- Fairfield County Bank Ridgefield, CT · $1.92B
- Newtown Savings Bank Newtown, CT · $1.87B
Questions about Ion Bank
How big is Ion Bank?
Ion Bank, established in 1870, is headquartered in Naugatuck, CT. It reported $2.78B in total assets in its Q2 2026 FDIC call report and operates 37 offices.
What is Ion Bank's return on assets?
0.93% annualized in Q2 2026, against a 1.03% median for 9 CT banks with half to twice its assets, ahead of 44% of them.
What is Ion Bank's efficiency ratio?
72.60% in Q2 2026: it spent about 73 cents in noninterest expense for each dollar of revenue. The peer median is 67.45%, and lower is better.
Is Ion Bank growing its loans?
Net loans shrank 1.0% over the year to Q2 2026, while deposits shrank 0.1%.
Sources and method
Figures are from the FDIC’s public call report data for the quarter ending 06/30/2026, via FDIC BankFind. Return on assets and net interest margin are annualized year to date. Peers are CT banks with half to twice its assets in the same quarter, excluding this bank. The page refreshes daily, so new quarters appear as banks file. Compare another bank or see every Connecticut bank ranked.