WEX Bank
WEX Bank reported total assets of $10.7 bn at Q2 2026, up 20.7% on a year earlier, the 149th largest of 497 banks in our US coverage. The CET1 capital ratio at WEX Bank was 12.70%, and the uninsured share of WEX Bank was 13.80%. Source: FDIC Call Reports.
Key takeaways
- WEX Bank has one of the highest return on equity (ROE) readings among banks of $10 bn to $100 bn: 51.92% at , against a median of 10.71% across 126 banks (FDIC Call Reports).
- At 4.30%, the return on assets (ROA) of WEX Bank sits in the top tenth of its size group ($10 bn to $100 bn, 126 banks), where the median is 1.25% (FDIC Call Reports).
- Few banks of $10 bn to $100 bn report a higher net interest margin than WEX Bank, at 10.58% in against a group median of 3.62% (FDIC Call Reports).
What sets WEX Bank apart
- On noncurrent loans to total loans, WEX Bank climbed from 234th to 165th among 500 US banks between and (1 = lowest).
- WEX Bank has one of the highest net charge-offs to average loans readings among banks of $10 bn to $100 bn: 1.96% at , against a median of 0.14% across 126 banks.
- The loan-to-deposit ratio of WEX Bank, 54.70% at , places WEX Bank in the bottom tenth of banks of $10 bn to $100 bn (group median 85.69%).
How large is WEX Bank?
The balance sheet of WEX Bank at : assets $10.7 bn, deposits $7.9 bn, net loans $4.3 bn (loans equal to 54.70% of deposits). Securities make up 47.0% of total assets at WEX Bank. Since , when WEX Bank held $1.7 bn, its assets grew 520.9%. In the year to , deposits at WEX Bank rose 21.4% while its total assets rose 20.7%. At , WEX Bank employed 82 full-time equivalent staff across 1 office, about $130.6 mn of assets per employee and $7.9 bn of deposits per office.
How much funding at WEX Bank is uninsured?
At WEX Bank, uninsured deposits (above the FDIC limit) made up 13.80% of domestic deposits at (+2.04 pp on a year earlier); WEX Bank ranks 453rd of 500 on this measure. In dollars, WEX Bank estimated $1.1 bn of uninsured deposits.
Key facts, Q2 2026
| Metric | Value | Change from a year earlier | US rank |
|---|---|---|---|
| Total deposits | $7.9 bn | +21.4% | 167th of 499 |
| Net loans and leases | $4.3 bn | +15.8% | 247th of 500 |
| Loan-to-deposit ratio | 54.70% | -2.61 pp | 468th of 500 |
| Tier 1 leverage ratio | 8.93% | -0.31 pp | 439th of 500 |
| Total risk-based capital ratio | 13.48% | -0.19 pp | 306th of 448 |
| Net interest margin | 10.58% | +0.59 pp | 7th of 500 |
| Return on assets (ROA) | 4.30% | -0.45 pp | 5th of 500 |
| Efficiency ratio | 57.30% | +0.37 pp | 271st of 500 (1 = lowest) |
| Unrealized gain/loss on available-for-sale securities | Loss of $55.1 mn | Widened by $16.2 mn | |
| Noncurrent loans to total loans | 0.44% | -0.06 pp | 165th of 500 (1 = lowest) |
| Net charge-offs to average loans | 1.96% | +0.69 pp | 482nd of 500 (1 = lowest) |
US rank of WEX Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
WEX Bank: assets, deposits and loans
- Total assets $10.7bn
- Deposits $7.9bn
- Net loans $4.3bn
Capital and securities
The CET1 ratio of WEX Bank stood at 12.70% in , -0.20 pp year on year. Low and high at WEX Bank since : 10.68% () to 15.36% (). Equity capital of WEX Bank at : $856.1 mn, or 8.0% of total assets. WEX Bank also reported a total capital ratio of 13.48% for , and a tier 1 leverage ratio of 8.93%.
The available-for-sale portfolio of WEX Bank showed an unrealized loss of $55.1 mn at ; the loss widened by $16.2 mn over the year.
WEX Bank: capital ratios
- Total capital 13%
- CET1 13%
- Tier 1 leverage 8.9%
WEX Bank: unrealized securities gains and losses
- Available for sale -$55mn
- Held to maturity $0
Profitability and loan quality
For the year to , WEX Bank earned a return on equity of 51.92%; return on assets: 4.30%. Net interest margin at WEX Bank: 10.58%, +0.59 pp in a year. WEX Bank net income: $205.4 mn, up 7.9% year on year. The efficiency ratio of WEX Bank was 57.30%: about 57 cents cost per revenue dollar, against 54 cents at the median peer.
At , noncurrent loans were 0.44% of total loans at WEX Bank; net charge-offs: 1.96% of average loans. Gross loans and leases at WEX Bank: $4.4 bn, up 16.0% in a year.
WEX Bank: profitability
- Return on equity 52%
- Net interest margin 11%
- Return on assets 4.3%
Peer group of WEX Bank
The peer group of WEX Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 3 share the charter type of WEX Bank (state nonmember bank), 6 sit in the same size group ($10 bn to $100 bn) and 0 have head offices in Utah. Against them, WEX Bank shows CET1 ratio 12.70% against a peer median of 15.79%, return on equity 51.92% against a peer median of 14.25% and uninsured deposit share 13.80% against a peer median of 42.54%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Farmers and Merchants Bank of Long Beach | State member bank | CA | $11.8 bn | 18.25% | 7.10% | 54.45% | |
| Beal Bank USA | State nonmember bank | NV | $11.0 bn | 51.76% | 37.98% | 46.56% | |
| Burke & Herbert Bank & Trust Company | State member bank | VA | $11.0 bn | 13.32% | 8.92% | 35.09% | |
| WEX Bank | State nonmember bank | UT | $10.7 bn | 12.70% | 51.92% | 13.80% | |
| Washington Trust Bank | State nonmember bank | WA | $10.5 bn | 11.91% | 12.78% | 57.30% | |
| Charles Schwab Trust Bank | State member bank | TX | $10.5 bn | 79.60% | 27.48% | 5.38% | |
| Centier Bank | State nonmember bank | IN | $10.4 bn | 12.85% | 15.71% | 38.52% | |
. FDIC Call Reports.
Last eight quarters
Two years at WEX Bank, to : assets +38.8%, deposits +43.7%, equity +30.6%.
| Metric | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $7.7 bn | $7.2 bn | $8.0 bn | $8.9 bn | $8.4 bn | $8.4 bn | $9.5 bn | $10.7 bn |
| Total deposits | $5.5 bn | $5.3 bn | $5.7 bn | $6.5 bn | $6.3 bn | $6.3 bn | $7.0 bn | $7.9 bn |
| Bank equity capital | $655.3 mn | $544.8 mn | $621.4 mn | $712.8 mn | $752.8 mn | $766.6 mn | $751.3 mn | $856.1 mn |
| CET1 ratio | 13.17% | 14.47% | 13.10% | 12.90% | 14.20% | 14.98% | 12.90% | 12.70% |
| Return on equity (ROE) | 59.10% | 58.03% | 63.64% | 60.76% | 57.54% | 55.65% | 46.26% | 51.92% |
| Uninsured share of domestic deposits | 13.39% | 10.45% | 14.62% | 11.76% | 14.01% | 11.99% | 16.33% | 13.80% |
| Full-time equivalent employees | 82 | 76 | 77 | 81 | 82 | 84 | 85 | 82 |
| Number of offices | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
FDIC Call Reports.
Mergers and acquisitions
Large one-quarter moves at WEX Bank
- Total assets at WEX Bank changed by +26.7% in the quarter to 2021-03-31, with no FDIC structure event in that quarter.
Questions and identifiers
What were the total assets of WEX Bank?
WEX Bank reported $10.7 bn at in its Call Report. That makes WEX Bank the 149th largest of 497 banks in our US coverage.
Is WEX Bank profitable?
WEX Bank reported net income of $205.4 mn for the year to ; annualized return on equity: 51.92%. So yes: WEX Bank made a profit over these months.
When is data for WEX Bank next updated?
Figures from WEX Bank for are due after .
Where can I check the figures for WEX Bank?
In the FDIC BankFind Suite record for certificate 34697, and in the Call Reports of WEX Bank (RSSD ID 2700984) at the FFIEC Central Data Repository.