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Vermillion State Bank

Vermillion, MN · Cert 10214 · Vermillion Bancshares Inc.

State charter, non-member · FDIC · 6 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

64

Q2 2024Q2 2026peer median (50)

Asset Quality

68

Q2 2024Q2 2026peer median (50)

Profitability

66

Q2 2024Q2 2026peer median (50)

Liquidity

0

Q2 2024Q2 2026peer median

Efficiency

100

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

Vermillion State Bank

Vermillion, MN · Cert 10214 · Vermillion Bancshares Inc.

State charter, non-member · FDIC · 6 branches

Q2 2026

$931.4MAssets
$423.8MLoans
$806.6MDeposits
$121.5MEquity
Loan mix
80%RE $312.1M18%C&I $69.2M2%Consumer $9.1MQ2 2025Q2 2026
Deposit mix
85%Interest-bearing $684.6M15%Noninterest $122.0MQ2 2025Q2 2026

NIM

4.84%Q2 ’245.16%Q2 ’255.08%Q2 ’26+21%-1%

Non-interest income vs. expense

0.83%Q2 ’240.92%Q2 ’250.78%Q2 ’26+17%-19%

Market Position · Minneapolis-St. Paul-Bloomington, MN-WI · 2026 SOD (annual) · 0.3% share · #19 of 125 inst. · $0.8B of $253.2B

Executive Summary

  • Earnings: ROA of 2.01%, up 8 bps year over year; NIM at 3.19%.
  • Asset quality: problem loans at 0.24% of loans (+16 bps YoY), with net recoveries of 0.12%.
  • Capital: tier 1 leverage ratio of 13.40%, up 62 bps from a year ago.
  • Funding: loans stand at 52.54% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

2.01%+8 bps YoY

Net Interest Margin (YTD, annualized)

3.19%-5 bps YoY

Efficiency Ratio (YTD, annualized)

23.23%-387 bps YoY

Tier 1 Leverage Ratio

13.40%+62 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.93%2.01%1.81%1.98%2.01%+8 bps
Return on Equity15.38%15.89%14.28%15.43%15.54%+16 bps
Net Interest Margin3.24%3.21%3.18%3.16%3.19%-5 bps
Efficiency Ratio27.10%25.56%33.93%23.95%23.23%-387 bps
Non-Interest Burden0.77%0.71%0.98%0.64%0.62%-15 bps
Growth
Asset Growth (YoY)6.34%5.71%9.93%9.09%5.32%-102 bps
Loan Growth (YoY)7.02%7.39%3.08%2.29%3.61%-342 bps
Deposit Growth (YoY)6.34%6.53%9.26%9.12%4.80%-154 bps
Asset Quality
Nonperforming Loans / Loans0.08%0.29%0.34%0.31%0.24%+16 bps
Net Charge-Offs / Loans-0.31%-0.21%-0.01%-0.18%-0.12%+19 bps
Allowance / Loans1.71%1.70%1.54%1.59%1.57%-14 bps
Allowance Coverage of NPLs20.6x5.8x4.5x5.1x6.5x-14.1x
Capital
Tier 1 Leverage Ratio12.78%12.77%12.74%13.11%13.40%+62 bps
Total Risk-Based Capital12.78%12.77%12.74%13.11%13.40%+62 bps
Equity / Assets12.58%12.79%12.80%12.89%13.05%+47 bps
Liquidity & Funding
Loans / Deposits53.15%52.22%51.30%50.79%52.54%-61 bps
Liquid Assets / Assets8.52%7.12%6.78%7.73%6.57%-195 bps
CRE / Total Capitaln/a97.72%99.83%93.35%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

Vermillion State Bank

Vermillion, MN · Cert 10214 · Peer group: banks under $1B in assets in the Minneapolis-St. Paul-Bloomington, MN-WI area (n=53) · Vermillion Bancshares Inc.

State charter, non-member · FDIC · 6 branches

Q2 2026

$931.4MAssets
$423.8MLoans
$806.6MDeposits
$121.5MEquity

Executive Summary

  • Strongest standing: efficiency ratio outperforms 100% of banks under $1B in assets in the Minneapolis-St. Paul-Bloomington, MN-WI area (rank 1 of 53).
  • Widest gap: net interest margin trails 81% of banks under $1B in assets in the Minneapolis-St. Paul-Bloomington, MN-WI area (rank 43 of 53).
  • Overall: at or above the peer median on 7 of 9 directional measures.

Return on Assets

2.01%

Rank 3 of 53

Net Interest Margin

3.19%

Rank 43 of 53

Efficiency Ratio

23.23%

Rank 1 of 53

Equity / Assets

13.05%

Rank 5 of 53

Non-interest income vs. expense

$1.4M$7.2MINCOMEEXPENSE
Unfavorable gap of $5.8M · efficiency ratio beats 100% of banks under $1B in assets in the Minneapolis-St. Paul-Bloomington, MN-WI area
Bank 23.23%Peer median 65.1%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets2.01%0.73%1.11%1.30%Beats 94%3 / 53
Return on Equity15.40%7.88%12.20%14.12%Beats 85%8 / 53
Net Interest Margin3.19%3.39%3.77%4.09%Beats 19%43 / 53
Efficiency Ratio23.23%56.05%65.05%71.57%Beats 100%1 / 53
Asset Quality
Nonperforming Loans / Loans0.24%0.14%0.52%1.20%Beats 64%20 / 53
Net Charge-Offs / Loans0.00%0.00%0.01%0.08%Beats 72%16 / 53
Capital
Tier 1 Capital Ratio13.40%10.73%12.98%15.08%Beats 57%23 / 53
Total Risk-Based Capital Ratio13.40%11.49%13.79%16.34%Beats 43%30 / 53
Equity / Assets13.05%8.08%9.25%10.72%Beats 91%5 / 53
Liquidity & Funding
Loans / Deposits52.54%72.13%82.29%93.80%6th pctl50 / 53
Loans / Assets45.50%63.64%71.80%79.37%6th pctl50 / 53
Brokered Deposits / Depositsn/aNot reported for this institution