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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

$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

4.88%Q2 ’245.21%Q2 ’255.47%Q2 ’26+8%+12%

Non-interest income vs. expense

2.34%Q2 ’242.30%Q2 ’252.33%Q2 ’260%+1%

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 1.80%, up 29 bps year over year; NIM at 4.43%.
  • Asset quality: problem loans at 0.80% of loans (-5 bps YoY), with net recoveries of 0.02%.
  • 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 (quarter, annualized)

1.80%+29 bps YoY

Net Interest Margin (quarter, annualized)

4.43%+48 bps YoY

Efficiency Ratio (quarter, annualized)

51.11%-512 bps YoY

Tier 1 Leverage Ratio

11.43%+40 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.51%1.58%1.55%1.59%1.80%+29 bps
Return on Equity13.69%14.19%14.33%14.64%16.06%+236 bps
Net Interest Margin3.95%4.00%3.95%4.36%4.43%+48 bps
Efficiency Ratio56.23%52.66%53.69%51.95%51.11%-512 bps
Non-Interest Burden2.17%2.03%2.06%2.21%2.20%+3 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 / Loans0.14%-0.03%0.00%-0.03%-0.02%-16 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