ION Bank
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Data as of · sourced from FFIEC call reports. How we update
ION Bank is an FDIC-insured commercial bank headquartered in Naugatuck, CT, established in 1870 (FDIC certificate 18198), and it is supervised by the Federal Reserve. At Q2 2026 it reported total assets of $2.78B, down 0.1% from Q2 2025, the 4th largest of 27 banks headquartered in Connecticut. Its CET1 capital ratio was 15.75% at Q2 2026, comfortably above the 7% level required once the capital conservation buffer is included.
- Charter
- Commercial bank
- Regulator
- Federal Reserve
- Deposit insurance
- FDIC
- FDIC certificate
- 18198
- Headquarters
- Naugatuck, CT
- Established
- 1870
- Total assets, Q2 2026
- $2.78B
- Assets vs Q2 2025
- -0.1%
- CET1 ratio, Q2 2026
- 15.75%
- Domestic offices
- 37 FDIC institution directory, current count
- Routing number
- 211174178
- Holding company
- ION FINANCIAL, MHC, INC.
- Asset rank in state
- 4th of 27 in Connecticut
Problem loans are rising at ION Bank. The Naugatuck, Connecticut bank had $2.8 billion in assets at June 30, 2026. Loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 1.49% of loans from 0.72% a year earlier. It shrank its loan book 1.0% over the year, lower than about three-quarters of the 895 banks with $1 billion to $10 billion in assets (median 5.9%). It also carries problem assets equal to 10.3% of the capital and reserves that would absorb them, about triple the median of 3.6% for banks its size.
Net income for the quarter slipped 19% from a year earlier, to $6.9 million. The non-owner-occupied commercial real estate book ($444 million) is worsening: 3.00% of it is past due or on nonaccrual, up from 1.78% a year earlier. Costs are the weak spot: it spends about 72 cents to bring in each dollar of revenue, higher than about three-quarters of banks its size (median 58 cents).
As of June 30, 2026, ION Bank reported a CET1 capital ratio of 15.75%, a return on assets of 1.01%, a nonperforming-loan ratio of 1.49% and a Texas ratio of 10.31%. The figures come from its call report filed with the FFIEC.
ION Bank ranks as the 4th largest of the 27 banks based in Connecticut, by total assets at Q2 2026. Between Q1 2026 and Q2 2026, its total assets rose 0.5% to $2.78B, loans fell 2.0% and deposits rose 0.8%. 1-4 family residential loans made up 28.0% of its total loans on June 30, 2026, its largest category; next came non-owner-occupied commercial real estate loans at 22.1%. The FDIC Summary of Deposits lists 36 offices for it, in 29 cities across 2 states; its Naugatuck 4 offices book 19% of its branch deposits. By the capital ratios in its Q2 2026 call report, ION Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 251 Church St, Naugatuck, CT 06770
- County
- Naugatuck Valley
- Metro Area
- Waterbury-Shelton, CT
- Charter
- Commercial bank, state charter, Fed member, FRB-supervised
- Primary Regulator
- Federal Reserve
- FDIC Region
- New York (Region 2)
- Federal Reserve member
- Yes
- Federal Reserve district
- District 1, Boston
- Fiduciary (trust) powers
- Full trust powers granted
- Call Report form
- FFIEC 051
- Established
- January 1, 1870
- Former names
- Naugatuck Savings Bank (1971-2013)
- Domestic offices
- 37 FDIC institution directory, current count
- Employees (FTE)
- 371
- Domestic deposits
- $2.28B
- Allowance for credit losses
- $22.3M
- Net charge-offs (YTD)
- $1.3M
- Average total assets
- $2.75B
- Average total loans
- $2.03B
- Average interest-bearing deposits
- $1.55B
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- No
- FDIC-insured since
- July 1, 1960
- FDIC Cert
- 18198
- Fed RSSD
- 407506
- SEC CIK
- 1719266 → filed by ION FINANCIAL, MHC, INC.
- Website
- www.ionbank.com →
- Parent Holding Company
- ION FINANCIAL, MHC, INC. (RSSD 3912766)
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
From Q3 2023 to Q2 2026, ION Bank's total assets ranged from $2.10B (Q1 2024) to $2.79B (Q2 2025), and it earned a profit in 11 of the 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$2.78B total assets against $2.79B; $2.44B total liabilities against $2.45B.
$1.99B net loans and leases against $2.01B; $2.28B total deposits against $2.28B.
$239.5M securities against $289.2M; $347.8M cash and balances due against $263.3M.
$35.5M total interest income against $32.9M; $8.1M total interest expense against $8.6M.
$27.4M net interest income against $24.3M.
$6.6M total noninterest income against $16.7M; $24.9M total noninterest expense against $30.9M.
$391K provision for credit losses against $3.2M.
$6.9M net income against $8.6M.
1.01% return on assets against 1.33%; 4.24% net interest margin against 4.07%.
15.75% CET1 capital ratio against 15.64%; 11.91% tier 1 leverage ratio against 12.63%.
Inside the full ION Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Commercial real estate loans are between 200% and 300% of total capital, approaching the 2006 interagency guidance threshold of 300% that triggers heightened supervisory attention. BankRegReports early-warning band below the 300% guidance.
ION Bank rankings
Its closest position to the top of a national ranking is 454 of 4,196, for total assets; its furthest is 782 of 980, for uninsured deposits.
Banks merged into ION Bank
- NVE Bank, effective April 29, 2025
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from -0.14% (Q4 2025) to 1.33% (Q2 2025) and its net interest margin ran from 3.40% (Q3 2024) to 4.24% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 15.75% | 1.01% | 1.49% | 10.31% | 4.24% |
| Q1 2026 | 15.30% | 0.85% | 1.01% | 7.22% | 4.07% |
| Q4 2025 | 14.87% | -0.14% | 0.87% | 6.45% | 4.11% |
| Q3 2025 | 15.78% | 0.98% | 0.59% | 5.01% | 3.97% |
| Q2 2025 | 15.64% | 1.33% | 0.72% | 5.92% | 4.07% |
| Q1 2025 | 12.25% | 1.01% | 0.33% | 4.79% | 3.90% |
| Q4 2024 | 12.52% | 0.49% | 0.32% | 4.76% | 3.72% |
| Q3 2024 | 12.66% | 0.93% | 0.36% | 5.02% | 3.40% |
Swipe the table sideways to see every column.
Branch Network
View all 36 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Church Street Branch | Naugatuck , CT | 06770 | $325.2M |
| Oxford Branch | Oxford , CT | 06478 | $202.6M |
| Cheshire Branch | Cheshire , CT | 06410 | $116.0M |
| Prospect Branch | Prospect , CT | 06712 | $103.1M |
| Middlebury Branch | Middlebury , CT | 06762 | $97.7M |
| New Haven Road Branch | Naugatuck , CT | 06770 | $96.5M |
| West Main Street Branch | Meriden , CT | 06451 | $95.6M |
| Southbury Branch | Southbury , CT | 06488 | $90.9M |
| Hamden Branch | Hamden , CT | 06518 | $83.2M |
| Ansonia Branch | Ansonia , CT | 06401 | $82.4M |
| Nve Bank Branch | Englewood , NJ | 07631 | $80.1M |
| Farmington Branch | Farmington , CT | 06032 | $79.0M |
| Watertown Branch | Watertown , CT | 06795 | $70.6M |
| Cresskill Branch | Cresskill , NJ | 07626 | $70.4M |
| Wallingford Branch | Wallingford , CT | 06492 | $70.2M |
| Woodbury Branch | Woodbury , CT | 06798 | $69.8M |
| Lincoln Park Branch | Lincoln Park , NJ | 07035 | $63.5M |
| Meriden Branch | Meriden , CT | 06450 | $50.7M |
| Waterbury Branch | Waterbury , CT | 06705 | $45.0M |
| Waterbury Branch | Waterbury , CT | 06705 | $43.0M |
| Montville Branch | Montville , NJ | 07045 | $42.9M |
| New Milford Branch | New Milford , NJ | 07646 | $41.4M |
| Closter Branch | Closter , NJ | 07624 | $35.3M |
| Bergenfield Branch | Bergenfield , NJ | 07621 | $34.5M |
| Unionville Branch Office | Unionville , CT | 06085 | $30.7M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| April 29, 2025 | Structure Change | Acquired NVE Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| April 28, 2025 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| July 1, 2022 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| July 1, 2022 | Structure Change | Acquired Lincoln 1st Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| August 8, 2009 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| August 8, 2009 | Structure Change | Acquired Castle Bank & Trust Company Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 6 events.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 1.0% of deposits in CT, rank 14 of 46 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 657 applications, 450 loans originated, $122.8M originated, across 3 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 9 loans, $3.1M approved, $348K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2025 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about ION Bank
What are ION Bank's total assets?
As of the Q2 2026 filing, ION Bank reported total assets of $2.78 billion in its FFIEC call report.
Where is ION Bank headquartered?
It is headquartered in Naugatuck, CT, United States.
When was ION Bank founded?
It was established in 1870, per the FDIC institution directory.
Is ION Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #18198). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates ION Bank?
ION Bank's primary federal regulator is the Federal Reserve.
What is ION Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 15.75% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does ION Bank operate?
It operates 37 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is ION Bank's Texas Ratio?
Its Texas Ratio is 10.31% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
What was ION Bank previously called?
The charter now named ION Bank has also operated as Naugatuck Savings Bank (1971-2013), per FDIC structure-change records.
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