Safe Harbor Reports Deposit Growth Picking Up for a Second Straight Quarter

Safe Harbor has shared preliminary deposit figures for the third quarter of 2026, and the numbers point to a steady rebound. As of quarter-end, the company's trailing 14-day average deposits reached approximately $119.3 million. That figure is up 7.4% from the same point a year earlier and about 25% above the low recorded in May 2025.

The company also noted that deposit growth accelerated for the second straight quarter. Taken together, the comparisons tell a story of recovery. A 25% gain from the May 2025 trough shows how far deposits have climbed since the low point, while the 7.4% year-over-year increase indicates that the current level is also higher than it was a year ago. The back-to-back quarters of faster growth suggest the trend is building momentum rather than just bouncing once.

Deposit levels matter in the cannabis financial services space because they offer a window into the cash flowing through the businesses that use these services. Because cannabis companies face limited access to traditional banking, specialized providers play an important role in helping operators manage and secure their money. When deposits rise, it can reflect healthier activity among those customers, a growing client base, or both, though the figures themselves don't spell out the causes.

It's worth remembering that these results are preliminary. They are an early look at the quarter and may be refined when the company completes its full reporting. Still, the direction is clear in the data provided. After a low point in mid-2025, deposits have moved up significantly, and the pace of growth has quickened over the last two quarters. For industry watchers looking for signs of stabilization in cannabis finance, this update adds a notable data point.