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Security State Bank of Hibbing

Hibbing, MN · Cert 10175 · Security Finl Services Inc.

State charter, non-member · FDIC · 1 branch

Q2 2026

$151.9MAssets
$99.2MLoans
$129.9MDeposits
$14.1MEquity
Loan mix
64%RE $58.0M31%C&I $28.4M5%Consumer $4.4MQ2 2025Q2 2026
Deposit mix
58%Interest-bearing $75.4M42%Noninterest $54.5MQ2 2025Q2 2026

NIM

4.67%Q2 ’244.60%Q2 ’255.07%Q2 ’26-1%+16%

Non-interest income vs. expense

2.83%Q2 ’243.07%Q2 ’253.31%Q2 ’26+4%+11%

Market Position · Duluth, MN-WI · 2026 SOD (annual) · 2.0% share · #8 of 26 inst. · $0.1B of $6.6B

Executive Summary

  • Earnings: ROA of 1.07%, up 49 bps year over year; NIM at 4.28%.
  • Asset quality: problem loans at 1.54% of loans (-45 bps YoY), with net charge-offs at 0.64%.
  • Capital: tier 1 leverage ratio of 11.64%, up 85 bps from a year ago.
  • Funding: loans stand at 76.39% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.07%+49 bps YoY

Net Interest Margin (YTD, annualized)

4.28%+60 bps YoY

Efficiency Ratio (YTD, annualized)

68.19%-348 bps YoY

Tier 1 Leverage Ratio

11.64%+85 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.58%0.74%0.80%1.02%1.07%+49 bps
Return on Equity7.18%9.02%9.47%10.98%11.60%+442 bps
Net Interest Margin3.69%3.72%3.82%4.09%4.28%+60 bps
Efficiency Ratio71.67%69.69%67.65%70.36%68.19%-348 bps
Non-Interest Burden2.47%2.42%2.41%2.71%2.74%+27 bps
Growth
Asset Growth (YoY)-3.15%-5.07%-1.75%-0.59%0.96%+410 bps
Loan Growth (YoY)4.96%1.83%8.72%5.33%8.41%+345 bps
Deposit Growth (YoY)0.27%-4.01%-3.37%-3.17%-4.28%-455 bps
Asset Quality
Nonperforming Loans / Loans2.00%1.98%2.01%1.73%1.54%-45 bps
Net Charge-Offs / Loans0.07%0.05%0.04%1.29%0.64%+56 bps
Allowance / Loans1.67%1.74%1.90%1.65%1.56%-10 bps
Allowance Coverage of NPLs0.8x0.9x0.9x1.0x1.0x+0.2x
Capital
Tier 1 Leverage Ratio10.79%10.91%11.10%11.20%11.64%+85 bps
Total Risk-Based Capital16.94%17.67%17.60%17.76%16.83%-11 bps
Equity / Assets8.37%8.74%9.36%9.16%9.25%+87 bps
Liquidity & Funding
Loans / Deposits67.45%64.63%69.71%71.67%76.39%+894 bps
Liquid Assets / Assets3.90%6.16%4.57%2.93%2.21%-168 bps
CRE / Total Capitaln/a193.04%179.41%182.73%n/an/a