Nelnet Bank
Nelnet Bank reported total assets of $3.0 bn at Q2 2026, up 69.6% on a year earlier, the 421st largest of 497 banks in our US coverage. Nelnet Bank uses the community bank leverage ratio framework, with a leverage ratio of 15.94%, and the uninsured share of Nelnet Bank was 1.63%. Source: FDIC Call Reports.
Key takeaways
- On net interest margin, Nelnet Bank slipped from 275th to 396th among 500 US banks between and (1 = highest; FDIC Call Reports).
- Nelnet Bank reports one of the lowest uninsured share of domestic deposits readings among banks of $1 bn to $10 bn: 1.63% at , where the median of the 339 banks is 32.61% (FDIC Call Reports).
- At 15.94%, the tier 1 leverage ratio of Nelnet Bank sits in the top tenth of its size group ($1 bn to $10 bn, 339 banks), where the median is 10.45% (FDIC Call Reports).
What sets Nelnet Bank apart
- Over the year to , the net loans and leases of Nelnet Bank rose by 101.9% to $1.6 bn, one of the largest rises among covered banks.
- Over the year to , the bank equity capital of Nelnet Bank rose by 106.8% to $463.5 mn, one of the largest rises among covered banks.
- Over the year to , the total deposits of Nelnet Bank rose by 63.5% to $2.5 bn, a bigger rise than at 99% of covered banks.
How large is Nelnet Bank?
The balance sheet of Nelnet Bank at : assets $3.0 bn, deposits $2.5 bn, net loans $1.6 bn (loans equal to 64.53% of deposits). Securities make up 42.4% of total assets at Nelnet Bank. Since , when Nelnet Bank held $216.9 mn, its assets grew 1,281.6%. In the year to , deposits at Nelnet Bank rose 63.5% while its total assets rose 69.6%. At , Nelnet Bank employed 65 full-time equivalent staff across 1 office, about $46.1 mn of assets per employee and $2.5 bn of deposits per office.
How much funding at Nelnet Bank is uninsured?
At Nelnet Bank, uninsured deposits (above the FDIC limit) made up 1.63% of domestic deposits at (-1.26 pp on a year earlier); Nelnet Bank ranks 491st of 500 on this measure. In dollars, Nelnet Bank estimated $40.9 mn of uninsured deposits.
Key facts, Q2 2026
| Metric | Value | Change from a year earlier | US rank |
|---|---|---|---|
| Total deposits | $2.5 bn | +63.5% | 420th of 499 |
| Net loans and leases | $1.6 bn | +101.9% | 481st of 500 |
| Loan-to-deposit ratio | 64.53% | +12.28 pp | 442nd of 500 |
| Net interest margin | 3.05% | -0.30 pp | 396th of 500 |
| Return on assets (ROA) | 1.23% | +0.70 pp | 290th of 500 |
| Efficiency ratio | 36.07% | -8.01 pp | 39th of 500 (1 = lowest) |
| Unrealized gain/loss on held-to-maturity securities | Gain of $4.1 mn | Fell by $808,000 | |
| Unrealized gain/loss on available-for-sale securities | Gain of $2.0 mn | Fell by $2.4 mn | |
| Noncurrent loans to total loans | 2.17% | +1.11 pp | 465th of 500 (1 = lowest) |
| Net charge-offs to average loans | 0.75% | -0.33 pp | 457th of 500 (1 = lowest) |
US rank of Nelnet Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Nelnet Bank: assets, deposits and loans
- Total assets $3.0bn
- Deposits $2.5bn
- Net loans $1.6bn
Capital and securities
Nelnet Bank uses the community bank leverage ratio framework, so it reports no risk-based ratios; its leverage ratio was 15.94% in . Equity capital of Nelnet Bank at : $463.5 mn, or 15.5% of total assets.
On held-to-maturity securities, Nelnet Bank carried an unrealized gain of $4.1 mn at , equal to 0.9% of equity capital. The gain fell by $808,000 over the year. The available-for-sale portfolio of Nelnet Bank showed an unrealized gain of $2.0 mn at ; the gain fell by $2.4 mn over the year.
Nelnet Bank: capital ratios
- Tier 1 leverage 16%
Nelnet Bank: unrealized securities gains and losses
- Available for sale $2mn
- Held to maturity $4mn
Profitability and loan quality
For the year to , Nelnet Bank earned a return on equity of 8.48%; return on assets: 1.23%. Net interest margin at Nelnet Bank: 3.05%, -0.30 pp in a year. Nelnet Bank net income: $15.6 mn, up 256.6% year on year. The efficiency ratio of Nelnet Bank was 36.07%: about 36 cents cost per revenue dollar, against 61 cents at the median peer.
At , noncurrent loans were 2.17% of total loans at Nelnet Bank; net charge-offs: 0.75% of average loans. Gross loans and leases at Nelnet Bank: $1.6 bn, up 99.9% in a year.
Nelnet Bank: profitability
- Return on equity 8.5%
- Net interest margin 3.1%
- Return on assets 1.2%
Peer group of Nelnet Bank
The peer group of Nelnet Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 2 share the charter type of Nelnet Bank (state nonmember bank), 6 sit in the same size group ($1 bn to $10 bn) and 0 have head offices in Utah. Against them, Nelnet Bank shows return on equity 8.48% against a peer median of 13.07% and uninsured deposit share 1.63% against a peer median of 34.02%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| U. S. Century Bank | State nonmember bank | FL | $3.0 bn | 12.48% | 16.79% | 54.26% | |
| Southern Bancorp Bank | State member bank | AR | $3.0 bn | not reported | 6.80% | 39.23% | |
| Northwest Bank | State nonmember bank | IA | $3.0 bn | 11.19% | 13.67% | 28.80% | |
| Nelnet Bank | State nonmember bank | UT | $3.0 bn | not reported | 8.48% | 1.63% | |
| Susser Bank | State member bank | TX | $3.0 bn | 11.65% | 9.03% | 43.42% | |
| Maine Community Bank | State-chartered stock savings bank | ME | $3.0 bn | not reported | 12.49% | 15.63% | |
| First Fidelity Bank | State member bank | OK | $3.0 bn | not reported | 13.65% | 26.88% | |
. FDIC Call Reports.
Last eight quarters
Two years at Nelnet Bank, to : assets +125.6%, deposits +118.1%, equity +205.7%. Staff 58 to 65.
| Metric | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $1.3 bn | $1.4 bn | $1.7 bn | $1.8 bn | $2.0 bn | $2.1 bn | $2.5 bn | $3.0 bn |
| Total deposits | $1.1 bn | $1.3 bn | $1.4 bn | $1.5 bn | $1.7 bn | $1.8 bn | $2.0 bn | $2.5 bn |
| Bank equity capital | $151.6 mn | $178.5 mn | $189.6 mn | $224.1 mn | $237.9 mn | $294.6 mn | $342.8 mn | $463.5 mn |
| Return on equity (ROE) | -4.59% | -3.29% | 7.47% | 4.42% | 5.92% | 6.20% | 7.97% | 8.48% |
| Uninsured share of domestic deposits | 3.87% | 3.53% | 3.24% | 2.89% | 2.54% | 2.35% | 2.10% | 1.63% |
| Full-time equivalent employees | 58 | 52 | 52 | 54 | 53 | 55 | 56 | 65 |
| Number of offices | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
FDIC Call Reports.
Mergers and acquisitions
Large one-quarter moves at Nelnet Bank
- Total assets at Nelnet Bank changed by +36.9% in the quarter to 2021-03-31: New institution (established 2020-11-02); balance sheet still ramping up.
- Total assets at Nelnet Bank changed by +37.3% in the quarter to 2021-06-30: New institution (established 2020-11-02); balance sheet still ramping up.
- Total assets at Nelnet Bank changed by +29.7% in the quarter to 2021-12-31: New institution (established 2020-11-02); balance sheet still ramping up.
- Total assets at Nelnet Bank changed by +31.8% in the quarter to 2022-06-30, with no FDIC structure event in that quarter.
Questions and identifiers
What were the total assets of Nelnet Bank?
Nelnet Bank reported $3.0 bn at in its Call Report. That makes Nelnet Bank the 421st largest of 497 banks in our US coverage.
Is Nelnet Bank profitable?
Nelnet Bank reported net income of $15.6 mn for the year to ; annualized return on equity: 8.48%. So yes: Nelnet Bank made a profit over these months.
When is data for Nelnet Bank next updated?
Figures from Nelnet Bank for are due after .
Where can I check the figures for Nelnet Bank?
In the FDIC BankFind Suite record for certificate 59205, and in the Call Reports of Nelnet Bank (RSSD ID 5514409) at the FFIEC Central Data Repository.