Safe Harbor Announces Preliminary Third Quarter 2026 Deposit Results
Globe Newswire•06/10/2026•08:30 ET
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Key Highlights
- ➤Q3 deposits $119.3M, up 7.4% year-over-year
- ➤Q3 deposits increased 9.6% sequentially, more than double Q2’s increase
- ➤Deposits reached their highest level since April 2024
- ➤Fed’s 25-basis-point hike expected to add $150,000 annualized investment income
Expert Statements
Terry Mendez, CEO of Safe Harbor
“The continued growth in deposits reflects the strength of the strategy we have put in place.”
Terry Mendez, CEO of Safe Harbor
“As we broaden our platform across banking, lending, business solutions and institutional infrastructure, we are deepening client relationships and expanding the opportunity to capture more of their financial activity.”
Terry Mendez, CEO of Safe Harbor
“We believe the continued momentum in deposits demonstrates the value of building a broader financial platform around the needs of the cannabis clients we service on behalf of financial institutions.”
Trailing 14-day average deposits reach approximately $119.3 million as of quarter end, up 7.4% year-over-year and approximately 25% above the May 2025 low, as deposit growth accelerates for the second consecutive quarter
Recent Federal Reserve rate increase expected to add approximately $150,000 investment income annually
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