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Exchange State Bank

Ames, IA · Cert 10132 · Mid America Banks Inc.

State charter, non-member · FDIC · 3 branches

Q2 2026

$146.0MAssets
$122.5MLoans
$117.5MDeposits
$15.6MEquity
Loan mix
88%RE $84.2M10%C&I $9.7M1%Consumer $1.3MQ2 2025Q2 2026
Deposit mix
80%Interest-bearing $94.0M20%Noninterest $23.5MQ2 2025Q2 2026

NIM

4.93%Q2 ’245.21%Q2 ’255.28%Q2 ’26+2%+5%

Non-interest income vs. expense

1.68%Q2 ’241.69%Q2 ’251.60%Q2 ’26+1%-5%

Market Position · Ames, IA · 2026 SOD (annual) · 1.8% share · #15 of 26 inst. · $0.1B of $3.8B

2.2% Story
18.6% Audubon

Executive Summary

  • Earnings: ROA of 1.61%, up 17 bps year over year; NIM at 3.67%.
  • Asset quality: problem loans at 1.00% of loans (+100 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 11.17%, up 25 bps from a year ago.
  • Funding: loans stand at 104.26% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.61%+17 bps YoY

Net Interest Margin (YTD, annualized)

3.67%+17 bps YoY

Efficiency Ratio (YTD, annualized)

43.27%-450 bps YoY

Tier 1 Leverage Ratio

11.17%+25 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.44%1.49%1.53%1.65%1.61%+17 bps
Return on Equity15.04%15.33%15.74%16.32%15.63%+60 bps
Net Interest Margin3.49%3.53%3.44%3.67%3.67%+17 bps
Efficiency Ratio47.77%46.85%45.98%42.78%43.27%-450 bps
Non-Interest Burden1.64%1.62%1.55%1.55%1.56%-8 bps
Growth
Asset Growth (YoY)1.72%2.76%3.05%0.49%5.83%+411 bps
Loan Growth (YoY)0.82%3.34%4.47%2.54%3.96%+314 bps
Deposit Growth (YoY)3.98%-1.12%0.69%-0.63%7.02%+304 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.35%0.96%1.00%+100 bps
Net Charge-Offs / Loans0.00%-0.24%-0.18%0.00%0.00%0 bps
Allowance / Loans0.65%0.81%0.79%0.83%0.85%+20 bps
Allowance Coverage of NPLsn/an/a2.3x0.9x0.8xn/a
Capital
Tier 1 Leverage Ratio10.91%11.03%10.45%10.87%11.17%+25 bps
Total Risk-Based Capital10.91%11.03%10.45%10.87%11.17%+25 bps
Equity / Assets10.20%10.17%9.90%10.34%10.69%+49 bps
Liquidity & Funding
Loans / Deposits107.33%116.28%107.58%103.58%104.26%-307 bps
Liquid Assets / Assets2.69%2.95%3.20%5.92%5.05%+236 bps
CRE / Total Capitaln/a189.01%183.39%179.48%n/an/a