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Grand Rapids State Bank

Grand Rapids, MN · Cert 10962 · Wilcox Bancshares Inc.

State charter, Fed member · FED · 1 affiliate bank · 2 branches (4 in holding)

Q2 2026

$261.1MAssets
$141.8MLoans
$234.1MDeposits
$24.1MEquity
Loan mix
78%RE $114.3M15%C&I $21.4M8%Consumer $11.4MQ2 2025Q2 2026
Deposit mix
70%Interest-bearing $164.5M30%Noninterest $69.5MQ2 2025Q2 2026

NIM

4.76%Q2 ’245.30%Q2 ’255.40%Q2 ’26+10%+3%

Non-interest income vs. expense

3.70%Q2 ’243.89%Q2 ’253.52%Q2 ’26+2%-21%

Executive Summary

  • Earnings: ROA of 1.85%, up 279 bps year over year; NIM at 4.95%.
  • Asset quality: problem loans at 0.02% of loans (-206 bps YoY), with net recoveries of 0.04%.
  • Capital: tier 1 leverage ratio of 10.03%, up 32 bps from a year ago.
  • Funding: loans stand at 60.59% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.85%+279 bps YoY

Net Interest Margin (YTD, annualized)

4.95%+15 bps YoY

Efficiency Ratio (YTD, annualized)

59.42%-1,178 bps YoY

Tier 1 Leverage Ratio

10.03%+32 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets-0.93%0.09%0.43%1.53%1.85%+279 bps
Return on Equity-10.03%0.99%4.76%17.16%20.53%+3,056 bps
Net Interest Margin4.80%4.68%4.68%4.94%4.95%+15 bps
Efficiency Ratio71.20%68.41%68.38%63.73%59.42%-1,178 bps
Non-Interest Burden3.22%3.01%3.01%2.88%2.55%-67 bps
Growth
Asset Growth (YoY)-0.67%-0.03%6.21%11.53%10.04%+1,071 bps
Loan Growth (YoY)1.88%-0.89%-5.49%-7.89%-8.35%-1,024 bps
Deposit Growth (YoY)-1.76%0.07%6.63%12.90%10.51%+1,227 bps
Asset Quality
Nonperforming Loans / Loans2.08%2.11%0.09%0.09%0.02%-206 bps
Net Charge-Offs / Loans0.00%0.01%2.16%0.00%-0.04%-4 bps
Allowance / Loans2.64%2.67%0.66%0.70%0.74%-190 bps
Allowance Coverage of NPLs1.3x1.3x7.1x7.4x39.1x+37.8x
Capital
Tier 1 Leverage Ratio9.71%9.47%9.45%9.68%10.03%+32 bps
Total Risk-Based Capital9.71%9.47%9.45%9.68%10.03%+32 bps
Equity / Assets8.71%8.81%8.98%8.88%9.22%+51 bps
Liquidity & Funding
Loans / Deposits73.06%67.73%63.67%63.61%60.59%-1,247 bps
Liquid Assets / Assets9.75%14.68%16.28%17.61%17.29%+755 bps
CRE / Total Capitaln/a403%372%371%n/an/a