Nelnet Bank: Yields and Funding Costs
Data as of · Call Report Schedules RI and RC-K How we update
What the bank earns on its assets, what it pays for its funding, and the spread between them. Net interest margin is the output of the two: it is the engine of earnings for almost every commercial bank.
Total interest expense climbed 35.8% in Q2 2026, from $17.4M to $23.6M. It was the largest change from Q1 2026 among the key lines here. Nelnet Bank has the 4th lowest net interest margin of the 44 banks headquartered in Utah, at 2.74% as of Q2 2026. Nelnet Bank reported 2.74% on net interest margin for Q2 2026, 0.97 points below the 3.71% median for banks in the $1B-10B asset tier.
Asset yields
| Line item | Q2 2026 |
|---|---|
| Yield on earning assets | 6.06% |
| Yield on loans | 6.48% |
| Yield on securities | 5.69% |
Funding costs
| Line item | Q2 2026 |
|---|---|
| Cost of funds | 3.83% |
| Cost of interest-bearing deposits | 3.88% |
| Cost of interest-bearing liabilities | 4.06% |
| Cost of borrowings | 4.27% |
Spread and margin
| Line item | Q2 2026 |
|---|---|
| Net interest margin | 2.74% |
| Yield to cost spread | 2.00% |
Interest income and expense
| Line item | Q2 2026 |
|---|---|
| Interest income on loans | $24.5M |
| Total interest expense | $23.6M |
| Interest expense on deposits | $21.6M |
Yields and Funding Costs trend
Last 12 quarters as filed. Every value plotted here also appears in the tables above.
Yields and Funding Costs by quarter
| Quarter | Yield on earning assets | Cost of funds | Net interest margin | Loans | Securities |
|---|---|---|---|---|---|
| Q3 2023 | 5.85% | 4.07% | 2.28% | 4.94% | 6.60% |
| Q4 2023 | 6.33% | 4.16% | 2.69% | 5.59% | 6.97% |
| Q1 2024 | 6.54% | 4.09% | 2.98% | 6.05% | 7.00% |
| Q2 2024 | 7.06% | 4.21% | 3.35% | 6.52% | 7.59% |
| Q3 2024 | 7.07% | 4.27% | 3.32% | 6.97% | 7.20% |
| Q4 2024 | 7.49% | 4.13% | 3.81% | 7.89% | 7.22% |
| Q1 2025 | 6.67% | 3.68% | 3.42% | 7.11% | 6.37% |
| Q2 2025 | 6.66% | 3.84% | 3.30% | 7.38% | 6.09% |
| Q3 2025 | 6.82% | 3.91% | 3.36% | 7.48% | 6.24% |
| Q4 2025 | 6.75% | 3.69% | 3.52% | 7.36% | 6.24% |
| Q1 2026 | 6.29% | 3.56% | 3.19% | 6.96% | 5.83% |
| Q2 2026 | 6.06% | 3.83% | 2.74% | 6.48% | 5.69% |
Nelnet Bank yields and funding costs, all the way back
Yields and Funding Costs back to 2001 · peer percentiles on every line item · Excel export
Unlock Nelnet Bank, freeSource: Call Report Schedules RI and RC-K, as filed with the FFIEC and standardized by BankRegReports. Dollar amounts are as reported, point-in-time; income statement items are year-to-date through the report date. See the full Nelnet Bank profile, peer group comparison, or how this data updates.
Regulator records: FDIC BankFind (cert 59205) · FFIEC NIC profile (RSSD 5514409)