# ION BANK
NAUGATUCK, CT · FDIC certificate 18198 · asset band $1-10B · latest filing 2026-06 · live

**Verdict on the desk:** this could be *ordinary*. Composite score 1 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $2.78B | |
| Deposits | $2.28B | |
| Loans and leases | $2.01B | |
| Total equity | $341.2M | |
| Loans / deposits | 87.32% (p51 of band) | 87.10% |
| Liquid assets / assets | 21.10% (p49 of band) | |
| Uninsured deposits / deposits | 21.70% (p21 of band) | 30.76% |
| Brokered deposits | 0.05% | |
| Wholesale funding | 2.74% (p33 of band) | |
| FHLB advances / assets | 2.68% | |
| Tier 1 leverage | 11.91% (p75 of band) | 10.50% |
| Unrealized securities loss / equity | -2.14% (p80 of band) | -7.75% |
| AOCI / equity | -0.43% (p40 of band) | |
| ROA (annualized) | 0.93% (p26 of band) | 1.26% |
| Net interest margin | 4.23% (p79 of band) | 3.70% |
| Efficiency ratio | 72.60% (p83 of band) | |
| Noncurrent loans | 1.49% (p84 of band) | 0.51% |
| Net charge-offs (annualized) | 0.09% (p74 of band) | |
| Reserve coverage of noncurrent | 74.25% | |
| Real estate % of loans | 79% | |
| Construction % of loans | 28.53% (p29 of band) | |
| Auto loans | $163.9M (8.15% of loans; DQ 2.28%, NCO 0.06%) | |
| Loans to nondepository financials | $38.0M (11% of equity) (p88 of band) | |
| Deposits YoY | -0.1% | |
| Employees | 371 | |

## Flags firing in the latest filing

- **reserve under noncurrent** (`aq_reserve`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 1 | reserve under noncurrent |  |
| 2011-06 | 1 |  |  |
| 2011-09 | 2 | capital falling |  |
| 2011-12 | 1 |  | capital falling |
| 2012-03 | 1 |  |  |
| 2012-06 | 1 |  |  |
| 2012-09 | 1 |  |  |
| 2012-12 | 1 |  |  |
| 2013-03 | 1 |  |  |
| 2013-06 | 2 | capital falling |  |
| 2013-09 | 1 |  | capital falling |
| 2013-12 | 3 | loans exceed deposits, expense ratio p90 |  |
| 2014-03 | 4 | capital falling |  |
| 2014-06 | 3 |  | expense ratio p90 |
| 2014-09 | 6 | wholesale funding >15%, expense ratio p90, uninsured deposits leaving |  |
| 2014-12 | 4 |  | wholesale funding >15%, uninsured deposits leaving |
| 2015-03 | 3 | uninsured deposits leaving | reserve under noncurrent, loans exceed deposits |
| 2015-06 | 2 | loans exceed deposits | capital falling, uninsured deposits leaving |
| 2015-09 | 4 | wholesale funding >15%, reserve under noncurrent |  |
| 2015-12 | 4 | capital falling | reserve under noncurrent |
| 2016-03 | 4 | reserve under noncurrent | wholesale funding >15% |
| 2016-06 | 4 | wholesale funding >15% | expense ratio p90 |
| 2016-09 | 3 |  | wholesale funding >15% |
| 2016-12 | 5 | expense ratio p90, charge-offs p90 |  |
| 2017-03 | 2 |  | capital falling, expense ratio p90, charge-offs p90 |
| 2017-06 | 2 | wholesale funding >15% | reserve under noncurrent |
| 2017-09 | 2 | reserve under noncurrent | wholesale funding >15% |
| 2017-12 | 0 |  | loans exceed deposits, reserve under noncurrent |
| 2018-03 | 1 | loans exceed deposits |  |
| 2018-06 | 1 |  |  |
| 2018-09 | 1 |  |  |
| 2018-12 | 1 |  |  |
| 2019-03 | 1 | expense ratio p90 | loans exceed deposits |
| 2019-06 | 0 |  | expense ratio p90 |
| 2019-09 | 1 | loans exceed deposits |  |
| 2019-12 | 2 | expense ratio p90 |  |
| 2020-03 | 4 | capital falling, losing money |  |
| 2020-06 | 2 |  | loans exceed deposits, losing money |
| 2020-09 | 2 |  |  |
| 2020-12 | 2 | reserve under noncurrent | capital falling |
| 2021-03 | 2 |  |  |
| 2021-06 | 1 |  | expense ratio p90 |
| 2021-09 | 1 |  |  |
| 2021-12 | 1 | expense ratio p90 | reserve under noncurrent |
| 2022-03 | 2 | charge-offs p90 |  |
| 2022-06 | 0 |  | expense ratio p90, charge-offs p90 |
| 2022-09 | 1 | capital falling |  |
| 2022-12 | 0 |  | capital falling |
| 2023-03 | 0 |  |  |
| 2023-06 | 0 |  |  |
| 2023-09 | 0 |  |  |
| 2023-12 | 0 |  |  |
| 2024-03 | 0 |  |  |
| 2024-06 | 0 |  |  |
| 2024-09 | 0 |  |  |
| 2024-12 | 0 |  |  |
| 2025-03 | 0 |  |  |
| 2025-06 | 0 |  |  |
| 2025-09 | 0 |  |  |
| 2025-12 | 2 | capital falling, expense ratio p90 |  |
| 2026-03 | 0 |  | capital falling, expense ratio p90 |
| 2026-06 | 1 | reserve under noncurrent |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-08-12 [Connecticut bank to expand into Boston through merger with community lender - The Business Journals](https://news.google.com/rss/articles/CBMimwFBVV95cUxNZUUwV0RiNWU2N3IxZUVRSmdmanktSVh3WFJmeEc0WG1EcGkzbUdobVlmb0wwcS0zNHBsczFNcWtSbU1KQ0Q2Z21YU2lZRXhSV1F0bWNTRWhhZW5uZ1BNdnIxdVE0VGFMaDlTSEFFeTdJV054VmVVUWN2dFNoMHFPcmdYU09SU3BpUEMyN1lXTHFCcEV4YjhsVXMwVQ?oc=5) · The Business Journals
- 2026-06-18 [Ion Bank targets Boston-area market in proposed merger - hartfordbusiness.com](https://news.google.com/rss/articles/CBMilwFBVV95cUxOaGU2bGltc2stOGtVSVZLdmVQdGdndGYzSVJMX1I4dkJhTjhJOGgtNnR5OFBiRm0xRkdzYjJaS2FDZUJhblF5eWlhOUlGWENMakxCb1BBY3dUZzBVZVdiRlZRWnRGXzhldkw4NVhDek5raGFaaDZjZ05fZjhoLVhyclhyN1A3cFUtM0JRbDZ1eWVmcEpxQ01F?oc=5) · hartfordbusiness.com
- 2026-06-24 [Ion Bank, The Cooperative Bank merger gets key approval - Westfair Communications](https://news.google.com/rss/articles/CBMinwFBVV95cUxOZU5teFVGbkZXSElKaHdGd2xwRnJrTUc5bVNYMXFDMDdpS0hMZ3ZQdzY0U2hUWG5CT0tBSHBiUkx1UlFlN0dFOWZlMFpqV3R6TDdpQjItY3MxU3h1WS1iRWI5dmZtOXZ2SHVkeWkxRUFMcy13ZVVtQW9RNFdtNlpCaFVQTnVBTmpLSUYwSnpvaVZ2dlIyWFFVLUptZzd3WkE?oc=5) · Westfair Communications
- 2026-03-02 [How acquisitions and mergers have reshaped Connecticut's banking industry - ctinsider.com](https://news.google.com/rss/articles/CBMipAFBVV95cUxPeFBXUWYyMUt2c1NfZ1VySmp2THNhLVc3MWdldkpOZm1paEZTbWkyYWZ2VEJHZnJoQTU3ZG1EMDNfdGdCT19jUVk1bWozeU5Keno2TWVBYUpMcklsMVl2MFB1U0tiWnFKZG5TVklsNlV6S25fRzBBRmNFTjhoV01mVkhxR2pBb2x3bUs2a3hqR0VDVnQ4T0VvY014V25pTWFJMmJ0OA?oc=5) · ctinsider.com
- 2026-02-24 [AI adoption accelerates across CT’s banking industry - hartfordbusiness.com](https://news.google.com/rss/articles/CBMikwFBVV95cUxNS21mX0JrdUVNZk80RHpROTA3VWRteEFpYzJzcG5CRk5VSTBqUDMtSVd2bFZnd1VrWU44S0JuTzZRb01nd3lBZk9NeXVTVlJVTTVzbm9aeThKcm9Ta3BwLVF2R2htWVNmVGNmZmdlV3hVVUhxRUZoWEhWczlmd3ViWkpkajV2LU5RLWdJa0E2NWFFUzg?oc=5) · hartfordbusiness.com
- 2020-07-23 [Ion Bank continues expansion in CT; will bring total branches to 19 - New Haven Register](https://news.google.com/rss/articles/CBMipAFBVV95cUxQZkg3UDhkVHFZM2lJdFZMazB5VmtfN0F3X3N5bk5RaVZiOERwUlVscjdKOXFpbGdvVmRDX09FMHh5dW16MkdaQTZXR0hPeGdlOV9KRENNd2MtYm1ta2txV3o5UlBBdml0NnlQQk5wc2RzSVZYUjJnRG5XT0xzNFN1bG1CVmhNTklMcWJtdmtrVlY5TW8xUjJzc3FBdDhhN3pyTlU5Rw?oc=5) · New Haven Register
- 2024-07-23 [Connecticut-based Ion Bank asks regulators to approve NJ bank acquisition - ctinsider.com](https://news.google.com/rss/articles/CBMiqAFBVV95cUxNNlF5MnRzVnJ6UnJwdm5UOEdzMVpfU2tFN2VMdUh6R3dUUE94dnV3RnZjTGRYd0s2NzJod1RDekhPVlFBd0w3S2JBa25fQUg1bzBhQWtnVS1TX08xVy0zMXdYakJXMlI0S2VQaU1lS3htV2d1MW4zYXJ4ai1wZjdpWkNnc0JhT1RXSkxDNk5pazhEaWpnZmk4UGw0dmNUOHoyY3RNanFIcjY?oc=5) · ctinsider.com
- 2021-09-17 [Ion Bank Opens New Branch In South Windsor - Patch](https://news.google.com/rss/articles/CBMiigFBVV95cUxNU0E5S1A1RkJOWXpSbFdmTlRKTHRNVnZCQ3QwSnBCSGZwY185T1BOUHZyd3Q3aUtxUWxEV0pZZnJ1WFJXTkN5NVVoSXp2Q0NCOGR2LU4wRDFzQXA5UDB6MlAwSUd6UW5jQkNSR2NTNkh5dks1MGZqRmJPbnExaTEtR0phM3o4QmdlU1E?oc=5) · Patch

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=18198 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/22.json (key "18198", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide