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First State Bank and Trust

Bayport, MN · Cert 10159 · Universal Finl Services Inc.

State charter, non-member · FDIC · 4 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets in the Minneapolis-St. Paul-Bloomington, MN-WI area3

Basis

Quarter: Q2 2026, the quarter ended June 30, 2026, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

Banks under $1B in assets in the Minneapolis-St. Paul-Bloomington, MN-WI area (n=53). Each measure ranks only the institutions that reported it, so n varies by measure.

Peer groups below the disclosure floor are suppressed.

Peer standing

Capital

48

Q2 2024Q2 2026peer median (50)

Asset Quality

80

Q2 2024Q2 2026peer median (50)

Profitability

62

Q2 2024Q2 2026peer median (50)

Liquidity

66

Q2 2024Q2 2026peer median

Efficiency

42

Q2 2024Q2 2026peer median (50)

Growth

No peer data yet

Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

First State Bank and Trust

Bayport, MN · Cert 10159 · Universal Finl Services Inc.

State charter, non-member · FDIC · 4 branches

Q2 2026

$499.0MAssets
$329.9MLoans
$455.4MDeposits
$40.2MEquity
Loan mix
88%RE $256.9M9%C&I $26.7M3%Consumer $8.9MQ2 2025Q2 2026
Deposit mix
76%Interest-bearing $345.4M24%Noninterest $110.0MQ2 2025Q2 2026

NIM

4.87%Q2 ’245.02%Q2 ’254.97%Q2 ’26+6%-2%

Non-interest income vs. expense

3.54%Q2 ’243.74%Q2 ’253.64%Q2 ’26-15%-3%

Market Position · Minneapolis-St. Paul-Bloomington, MN-WI · 2026 SOD (annual) · 0.2% share · #38 of 125 inst. · $0.5B of $253.2B

5.9% Washington
1.9% St. Croix

Executive Summary

  • Earnings: ROA of 1.39%, up 12 bps year over year; NIM at 3.39%.
  • Asset quality: problem loans at 0.03% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 8.91%, down 28 bps from a year ago.
  • Funding: loans stand at 72.42% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.39%+12 bps YoY

Net Interest Margin (YTD, annualized)

3.39%-5 bps YoY

Efficiency Ratio (YTD, annualized)

66.40%-57 bps YoY

Tier 1 Leverage Ratio

8.91%-28 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.27%1.34%1.35%1.27%1.39%+12 bps
Return on Equity15.36%15.83%16.12%15.44%17.05%+169 bps
Net Interest Margin3.44%3.50%3.35%3.35%3.39%-5 bps
Efficiency Ratio66.97%66.84%67.26%68.70%66.40%-57 bps
Non-Interest Burden1.59%1.63%1.60%1.62%1.54%-5 bps
Growth
Asset Growth (YoY)10.55%6.21%11.62%14.62%19.78%+922 bps
Loan Growth (YoY)14.56%8.75%5.43%2.92%4.84%-972 bps
Deposit Growth (YoY)5.75%5.47%11.12%15.20%25.40%+1,965 bps
Asset Quality
Nonperforming Loans / Loans0.03%0.03%0.00%0.00%0.03%0 bps
Net Charge-Offs / Loans-0.01%0.00%0.00%0.00%0.00%+1 bps
Allowance / Loans1.19%1.24%1.26%1.25%1.19%0 bps
Allowance Coverage of NPLs44.1x45.9xn/an/a38.4x-5.7x
Capital
Tier 1 Leverage Ratio9.19%9.41%8.98%8.99%8.91%-28 bps
Total Risk-Based Capital14.65%15.42%15.74%15.60%14.81%+16 bps
Equity / Assets8.53%8.94%8.20%8.24%8.06%-47 bps
Liquidity & Funding
Loans / Deposits86.63%79.67%70.26%72.36%72.42%-1,420 bps
Liquid Assets / Assets2.10%5.82%13.38%10.55%10.74%+864 bps
CRE / Total Capitaln/a320%305%317%n/an/a

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas. Income-statement figures are year-to-date as filed, annualized (the UBPR convention). Each quarter includes the ones before it.

CallReports · callreports.ai· Performance TrendsGenerated 2026-10-11

First State Bank and Trust

Bayport, MN · Cert 10159 · Peer group: banks under $1B in assets in the Minneapolis-St. Paul-Bloomington, MN-WI area (n=53) · Universal Finl Services Inc.

State charter, non-member · FDIC · 4 branches

Q2 2026

$499.0MAssets
$329.9MLoans
$455.4MDeposits
$40.2MEquity

Executive Summary

  • Strongest standing: return on equity outperforms 87% of banks under $1B in assets in the Minneapolis-St. Paul-Bloomington, MN-WI area (rank 7 of 53).
  • Widest gap: equity / assets trails 77% of banks under $1B in assets in the Minneapolis-St. Paul-Bloomington, MN-WI area (rank 41 of 53).
  • Overall: at or above the peer median on 6 of 9 directional measures.

Return on Assets

1.34%

Rank 13 of 53

Net Interest Margin

3.39%

Rank 40 of 53

Efficiency Ratio

66.40%

Rank 32 of 53

Equity / Assets

8.06%

Rank 41 of 53

Non-interest income vs. expense

$9.9M$17.3MINCOMEEXPENSE
Unfavorable gap of $7.3M · efficiency ratio beats 42% of banks under $1B in assets in the Minneapolis-St. Paul-Bloomington, MN-WI area
Bank 66.40%Peer median 65.1%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets1.34%0.73%1.11%1.30%Beats 75%13 / 53
Return on Equity16.65%7.88%12.20%14.12%Beats 87%7 / 53
Net Interest Margin3.39%3.39%3.77%4.09%Beats 25%40 / 53
Efficiency Ratio66.40%56.05%65.05%71.57%Beats 42%32 / 53
Asset Quality
Nonperforming Loans / Loans0.03%0.14%0.52%1.20%Beats 85%9 / 53
Net Charge-Offs / Loans0.00%0.00%0.01%0.08%Beats 75%15 / 53
Capital
Tier 1 Capital Ratio13.56%10.73%12.98%15.08%Beats 58%22 / 53
Total Risk-Based Capital Ratio14.81%11.49%13.79%16.34%Beats 64%19 / 53
Equity / Assets8.06%8.08%9.25%10.72%Beats 23%41 / 53
Liquidity & Funding
Loans / Deposits72.42%72.13%82.29%93.80%28th pctl38 / 53
Loans / Assets66.10%63.64%71.80%79.37%30th pctl37 / 53
Brokered Deposits / Depositsn/aNot reported for this institution