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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

4.87%Q2 ’245.44%Q2 ’255.45%Q2 ’26+10%+2%

Non-interest income vs. expense

3.68%Q2 ’243.84%Q2 ’253.46%Q2 ’26+3%-30%

Executive Summary

  • Earnings: ROA of 2.17%, up 538 bps year over year; NIM at 5.01%.
  • Asset quality: problem loans at 0.02% of loans (-206 bps YoY), with net recoveries of 0.07%.
  • 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 (quarter, annualized)

2.17%+538 bps YoY

Net Interest Margin (quarter, annualized)

5.01%+10 bps YoY

Efficiency Ratio (quarter, annualized)

55.54%-1,363 bps YoY

Tier 1 Leverage Ratio

10.03%+32 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets-3.21%1.67%1.41%1.53%2.17%+538 bps
Return on Equity-34.62%19.02%15.88%17.16%23.99%+5,861 bps
Net Interest Margin4.91%5.01%4.98%4.94%5.01%+10 bps
Efficiency Ratio69.17%63.28%68.32%63.73%55.54%-1,363 bps
Non-Interest Burden3.20%2.95%3.23%2.88%2.24%-96 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 / Loans0.01%0.02%8.63%0.00%-0.07%-8 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