KBRA releases its fourth-quarter 2025 U.S. Bank Compendium, providing the latest view of the U.S. banking industry and analysis of 4Q25 results for publicly traded U.S. banks with KBRA ratings.

In this edition, we examine how KBRA-rated banks delivered their strongest profitability since the pandemic, driven primarily by net interest margin (NIM) expansion. Credit performance continued to soften gradually but remained well within historical norms, with modest increases in nonperforming assets (NPA) and charge-offs concentrated in commercial real estate and commercial and industrial (C&I) portfolios, where loss experience has remained manageable. Capital levels remained sound despite higher share repurchases and increased M&A activity. We also discuss how balance sheet strength, improved earnings, and shifting regulatory priorities are driving increased consolidation activity. Finally, we explore intensifying competition from nonbank financial institutions, fintechs, and newly chartered banking entrants heading into 2026.

The Compendium includes 4Q25 summaries on all publicly traded U.S. banks in KBRA’s rated universe, focusing on key performance and credit metrics, along with medians of key ratios. The Compendium also includes the top 10 lowest cost deposit franchises, highest reserves to loans, and largest sequential changes in return on assets, net interest margin (NIM), net charge-offs, and NPA ratios. Further, we provide a detailed supplement of KBRA-rated debt issues—along with rating, amount issued, coupon, and maturity.

Click here to view the report.

Related Publications

• Fourth-Quarter 2025 U.S. Bank Compendium Bank Debt Worksheet
• Fourth-Quarter 2025 U.S. Bank Compendium Ratio Spreadsheet

About KBRA

KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions.

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