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First State Bank Minnesota

Le Roy, MN · Cert 10162 · First Leroy Bcorp Inc.

State charter, non-member · FDIC · 2 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 MN3

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 MN (n=112 to 114). 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

36

Q2 2024Q2 2026peer median (50)

Asset Quality

49

Q2 2024Q2 2026peer median (50)

Profitability

81

Q2 2024Q2 2026peer median (50)

Liquidity

28

Q2 2024Q2 2026peer median

Efficiency

86

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 2026-10-10

First State Bank Minnesota

Le Roy, MN · Cert 10162 · First Leroy Bcorp Inc.

State charter, non-member · FDIC · 2 branches

Q2 2026

$105.9MAssets
$87.0MLoans
$92.5MDeposits
$12.0MEquity
Loan mix
88%RE $48.0M9%C&I $4.7M3%Consumer $1.6MQ2 2025Q2 2026
Deposit mix
66%Interest-bearing $61.5M34%Noninterest $31.0MQ2 2025Q2 2026

NIM

4.68%Q2 ’245.12%Q2 ’255.33%Q2 ’26+8%+10%

Non-interest income vs. expense

2.36%Q2 ’242.33%Q2 ’252.30%Q2 ’26+1%-2%

Market Position · Rochester, MN · 2026 SOD (annual) · 0.6% share · #25 of 34 inst. · $0.0B of $7.6B

5.7% Mower
5.6% Fillmore

Executive Summary

  • Earnings: ROA of 1.69%, up 33 bps year over year; NIM at 4.34%.
  • Asset quality: problem loans at 0.80% of loans (-5 bps YoY), with net recoveries of 0.03%.
  • Capital: tier 1 leverage ratio of 11.43%, up 40 bps from a year ago.
  • Funding: loans stand at 94.07% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.69%+33 bps YoY

Net Interest Margin (YTD, annualized)

4.34%+41 bps YoY

Efficiency Ratio (YTD, annualized)

51.52%-619 bps YoY

Tier 1 Leverage Ratio

11.43%+40 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.36%1.43%1.46%1.59%1.69%+33 bps
Return on Equity12.47%13.05%13.40%14.64%15.31%+284 bps
Net Interest Margin3.93%3.87%3.72%4.36%4.34%+41 bps
Efficiency Ratio57.71%55.96%55.36%51.95%51.52%-619 bps
Non-Interest Burden2.22%2.11%2.01%2.21%2.18%-4 bps
Growth
Asset Growth (YoY)4.30%3.36%9.91%8.84%8.33%+403 bps
Loan Growth (YoY)5.63%2.83%3.75%7.72%9.37%+374 bps
Deposit Growth (YoY)4.23%4.34%14.10%8.84%8.21%+399 bps
Asset Quality
Nonperforming Loans / Loans0.85%0.47%1.01%1.78%0.80%-5 bps
Net Charge-Offs / Loans-0.54%-0.37%-0.27%-0.03%-0.03%+51 bps
Allowance / Loans1.54%1.54%1.51%1.46%1.43%-11 bps
Allowance Coverage of NPLs1.8x3.3x1.5x0.8x1.8x0.0x
Capital
Tier 1 Leverage Ratio11.03%10.96%10.66%11.37%11.43%+40 bps
Total Risk-Based Capital11.03%10.96%10.66%11.37%11.43%+40 bps
Equity / Assets11.11%11.13%10.59%11.08%11.37%+26 bps
Liquidity & Funding
Loans / Deposits93.07%91.24%84.35%92.05%94.07%+100 bps
Liquid Assets / Assets5.19%4.58%3.94%3.62%3.59%-160 bps
CRE / Total Capitaln/a52.40%52.96%53.90%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 2026-10-10

First State Bank Minnesota

Le Roy, MN · Cert 10162 · Peer group: banks under $1B in assets in MN (n=112-114) · First Leroy Bcorp Inc.

State charter, non-member · FDIC · 2 branches

Q2 2026

$105.9MAssets
$87.0MLoans
$92.5MDeposits
$12.0MEquity

Executive Summary

  • Strongest standing: return on assets outperforms 87% of banks under $1B in assets in MN (rank 15 of 114).
  • Widest gap: total risk-based capital ratio trails 81% of banks under $1B in assets in MN (rank 92 of 114).
  • Overall: at or above the peer median on 6 of 9 directional measures.

Return on Assets

1.70%

Rank 15 of 114

Net Interest Margin

4.34%

Rank 26 of 114

Efficiency Ratio

51.52%

Rank 17 of 114

Equity / Assets

11.37%

Rank 39 of 114

Non-interest income vs. expense

$0.1M$2.4MINCOMEEXPENSE
Unfavorable gap of $2.3M · efficiency ratio beats 86% of banks under $1B in assets in MN
Bank 51.52%Peer median 61.6%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets1.70%0.87%1.20%1.41%Beats 87%15 / 114
Return on Equity14.96%8.92%11.27%13.99%Beats 80%23 / 114
Net Interest Margin4.34%3.39%3.88%4.31%Beats 77%26 / 114
Efficiency Ratio51.52%54.13%61.64%69.86%Beats 86%17 / 114
Asset Quality
Nonperforming Loans / Loans0.80%0.09%0.58%1.82%Beats 43%65 / 112
Net Charge-Offs / Loans0.00%n/a0.00%0.04%Beats 55%51 / 112
Capital
Tier 1 Capital Ratio11.43%11.46%13.31%18.13%Beats 23%88 / 114
Total Risk-Based Capital Ratio11.43%12.01%14.43%19.39%Beats 19%92 / 114
Equity / Assets11.37%8.52%10.22%11.94%Beats 66%39 / 114
Liquidity & Funding
Loans / Deposits94.07%62.85%77.32%88.06%84th pctl18 / 112
Loans / Assets82.13%55.01%66.35%75.50%87th pctl15 / 114
Brokered Deposits / Depositsn/aNot reported for this institution