Thrivent Bank: how it compares with its peers
Against 10 UT banks with half to twice its assets, Thrivent Bank's strongest measure in Q2 2026 is net interest margin (5.54% vs. a 7.34% peer median). Its weakest relative measure is return on assets (-1.62% vs. 2.72%).
| Measure | Thrivent Bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | -1.62% | 2.72% | Bottom third Ahead of 0% of peers |
| Net interest margin Annualized net interest income over earning assets. | 5.54% | 7.34% | Middle third Ahead of 40% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 128.94% | 42.41% | Bottom third Ahead of 0% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $6.1M | $6.2M | Bottom third Ahead of 33% of peers |
| Loans to deposits Net loans and leases over total deposits. | 104.28% | 88.87% | Context |
What it means for lending operations
Its efficiency ratio of 128.94% is above the 42.41% 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
- FinWise Bank Murray, UT · $915M
- First Utah Bank Salt Lake City, UT · $840M
- The Pitney Bowes Bank, Inc. Salt Lake City, UT · $796M
- Prime Alliance Bank Woods Cross, UT · $1.09B
- Grand Valley Bank Heber City, UT · $599M
- First Electronic Bank Salt Lake City, UT · $503M
Questions about Thrivent Bank
How big is Thrivent Bank?
Thrivent Bank, established in 2025, is headquartered in Salt Lake City, UT. It reported $906M in total assets in its Q2 2026 FDIC call report and operates 1 office.
What is Thrivent Bank's return on assets?
-1.62% annualized in Q2 2026, against a 2.72% median for 10 UT banks with half to twice its assets, ahead of 0% of them.
What is Thrivent Bank's efficiency ratio?
128.94% in Q2 2026: it spent about 129 cents in noninterest expense for each dollar of revenue. The peer median is 42.41%, and lower is better.
Is Thrivent Bank growing its loans?
Net loans grew 3.7% over the year to Q2 2026, while deposits shrank 14.6%.
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 UT 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 Utah bank ranked.