Page 32 - gs260302

2024 Total
Total Assets
Processing /
Bank
Growth
2025 Total
Processing
($000)
Assets
($000)
$ 211,619,516
$ 61,204,265
1.2%
$ 115,710,595
$ 114,283,606
SYNOVUS BANK
1.89
$ 9,251,625
$ 63,157,744
3 1 2 # PATHWARD, NATIONAL ASSOCIATION Processing ($000) $ 143,532,912 47.4% $7,563,929 27.98
$60,975,866
6.59
MERRICK BANK
-3.5%
$39,453,689
$ 36,315,348
8.6%
4 ESQUIRE BANK, NATIONAL ASSOCIATION Insights and Expertise $ 2,345,974 16.82
5 CENTRAL TRUST BANK, THE $21,081,910 $24,151,512 -12.7% $ 20,799,746 1.01
6 WOODFOREST NATIONAL BANK $16,624,952 $ 17,612,481 -5.6% $ 9,248,621 1.80
7 FFB BANK $16,533,051 $ 18,287,484 -9.6% $ 1,579,389 10.47
2024 Total
# Bank 2025 Total Processing Growth Total Assets Processing /
8 WESTAMERICA BANK $14,113,457 $ 13,234,236 ($000) 6.6% $5,923,791 ($000) 2.38 Assets
Processing ($000)
9 AVIDIA BANK $13,855,388 $ 9,060,144 52.9% $ 2,832,798 4.89
1 1 PATHWARD, NATIONAL ASSOCIATION $ 211,619,516 $ 143,532,912 47.4% $7,563,929 27.98
0 COMMERCIAL BANK OF CALIFORNIA $12,789,267 $7,735,147 65.3% $ 3,701,611 3.46
2 SYNOVUS BANK $ 115,710,595 $ 114,283,606 1.2% $ 61,204,265 1.89
11 AXIOM BANK, NATIONAL ASSOCIATION $11,480,342 $ 14,734,689 -22.1% $ 784,087 14.64
3 MERRICK BANK $60,975,866 $ 63,157,744 -3.5% $ 9,251,625 6.59
1
2 CHESAPEAKE BANK $10,221,166 $ 8,193,258 24.8% $ 1,664,048 6.14
4 ESQUIRE BANK, NATIONAL ASSOCIATION $39,453,689 $ 36,315,348 8.6% $ 2,345,974 16.82
1
5 CENTRAL TRUST BANK, THE $21,081,910 $24,151,512 -12.7% $ 20,799,746 1.01
3 NORTH AMERICAN BANKING COMPANY $ 8,468,358 $ 1,166,952 625.7% $ 1,460,893 5.80
1 6 WOODFOREST NATIONAL BANK $16,624,952 $ 17,612,481 -5.6% $ 9,248,621 1.80
4 COMMERCE BANK $ 7,861,233 $ 8,217,317 -4.3% $ 32,722,351 0.24
7 FFB BANK $16,533,051 $ 18,287,484 -9.6% $ 1,579,389 10.47
1
$ 13,234,236
$5,923,791
$14,113,457
5 8 BAYCOAST BANK $ 4,482,594 $ 4,333,357 3.4% 6.6% $ 2,848,338 1.57 2.38
WESTAMERICA BANK
1
9 AVIDIA BANK $13,855,388 $ 9,060,144 52.9% $ 2,832,798 4.89
6 GEORGIA BANKING COMPANY $ 3,972,355 $ #DIV/0! $ 2,693,811 1.47
1
1
0 COMMERCIAL BANK OF CALIFORNIA $12,789,267 $7,735,147 65.3% $ 3,701,611 3.46
7 SSB BANK $ 3,360,102 $2,708,279 24.1% $ 368,085 9.13
1 11 AXIOM BANK, NATIONAL ASSOCIATION $11,480,342 $ 14,734,689 -22.1% $ 784,087 14.64
8 BOKF, NATIONAL ASSOCIATION $ 3,282,023 $3,345,747 -1.9% $ 52,005,221 0.06
1
1 2 CHESAPEAKE BANK $10,221,166 $ 8,193,258 24.8% $ 1,664,048 6.14
9 FULTON BANK, NATIONAL ASSOCIATION $2,721,591 $ 3,020,200 -9.9% $ 31,982,120 0.09
1
2 3 NORTH AMERICAN BANKING COMPANY $ 8,468,358 $ 1,166,952 625.7% $ 1,460,893 5.80
0 PINNACLE BANK $2,437,534 $2,200,886 10.8% $ 57,636,946 0.04
1
2
4 COMMERCE BANK $ 7,861,233 $ 8,217,317 -4.3% $ 32,722,351 0.24
1 COMMUNITY FEDERAL SAVINGS BANK $2,160,884 $ 1,245,426 73.5% $ 866,395 2.49
1
2
5 BAYCOAST BANK $ 4,482,594 $ 4,333,357 3.4% $ 2,848,338 1.57
2 HANCOCK WHITNEY BANK $ 1,920,667 $ 1,888,271 1.7% $ 35,458,426 0.05
1
2
$ 2,693,811
$ 3,972,355
$
3 6 SOFI BANK, NATIONAL ASSOCIATION $ 1,599,382 $1,763,403 -9.3% #DIV/0! $ 46,568,135 0.03 1.47
GEORGIA BANKING COMPANY
2 1
$2,708,279
$ 3,360,102
SSB BANK
4 7 DART BANK, THE $ 1,068,464 $986,878 8.3% 24.1% $ 1,432,696 0.75 9.13
$ 368,085
2 1
$ 3,282,023
$ 52,005,221
5 8 TIB, NATIONAL ASSOCIATION $1,038,356 $ 1,128,786 -8.0% -1.9% $ 2,972,669 0.35 0.06
$3,345,747
BOKF, NATIONAL ASSOCIATION
1
9 FULTON BANK, NATIONAL ASSOCIATION $2,721,591 $ 3,020,200 -9.9% $ 31,982,120 0.09
A major disruption: The Evolve gap • Commercial Bank of California: +65%
2
• Avidia Bank: +53%
Not shown in the Table is Evolve Bank & Trust. In 2024, $2,200,886 10.8% $ 57,636,946 0.04
PINNACLE BANK
0
$2,437,534
Evolve processed over $53 billion in merchant volume. • Chesapeake Bank: +25%
Yet its 2025 Call report reflects zero processing. While I
2
• Community Federal Savings Bank: +74%2.49
$2,160,884
COMMUNITY FEDERAL SAVINGS BANK
1
am unsure if this is accurate, if true, it is an extraordinary $ 1,245,426 73.5% $ 866,395
shift. Merchant acquiring relationships are difficult to • First National Bank of Omaha: +74%
2
originate, underwrite and scale. But merchant processing $ 1,888,271 1.7% $ 35,458,426 0.05
HANCOCK WHITNEY BANK
$ 1,920,667
2
is fungible. When volume exits a sponsor bank, it migrates. North American Banking Co.’s increase, from $1.1 billion
2 to $8.4 billion, stands out. Percentage growth at that scale
The volume migration $ 1,599,382 $1,763,403 -9.3% $ 46,568,135 0.03
is impressive.
3
SOFI BANK, NATIONAL ASSOCIATION
Several banks experienced notable growth in 2025: Processing volume relative to assets
2
4 DART BANK, THE $ 1,068,464 $986,878 8.3% $ 1,432,696 0.75
• Pathward, N.A.: +47% to $211.6 billion Merchant processing volume does not appear on a bank’s
2 • North American Banking Company: +625% balance sheet. However, it absolutely carries:
5 TIB, NATIONAL ASSOCIATION $1,038,356 $ 1,128,786 -8.0% $ 2,972,669 0.35
32