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Security Bank Minnesota

Albert Lea, MN · Cert 10984 · Lake Bk Shares Employee STK Ownership Plan

State charter, non-member · FDIC · 3 branches

Q2 2026

$145.1MAssets
$108.1MLoans
$125.0MDeposits
$14.6MEquity
Loan mix
26%RE $25.9M73%C&I $72.0M1%Consumer $1.4MQ3 2024Q2 2026
Deposit mix
78%Interest-bearing $97.6M22%Noninterest $27.5MQ3 2024Q2 2026

Executive Summary

  • Earnings: ROA of 1.00%, up 45 bps year over year; NIM at 4.45%.
  • Asset quality: problem loans at 2.30% of loans (+44 bps YoY), with net charge-offs at 0.34%.
  • Capital: tier 1 leverage ratio of 9.78%, up 10 bps from a year ago.
  • Funding: loans stand at 86.45% of deposits as of Q2 2026.

Return on Assets (quarter, annualized)

1.00%+45 bps YoY

Net Interest Margin (quarter, annualized)

4.45%+12 bps YoY

Efficiency Ratio (quarter, annualized)

60.72%-360 bps YoY

Tier 1 Leverage Ratio

9.78%+10 bps YoY

NIM

5.97%Q2 ’245.98%Q2 ’255.84%Q2 ’26+1%+3%

Non-interest income vs. expense

2.77%Q2 ’242.84%Q2 ’252.78%Q2 ’26+12%-6%

Discrete quarter, annualized.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.25%0.00%0.72%0.55%0.92%0.08%0.89%1.00%+45 bps
Return on Equity2.56%0.04%7.38%5.71%9.09%0.74%9.18%10.31%+460 bps
Net Interest Margin3.98%4.21%4.34%4.33%4.56%4.39%4.42%4.45%+12 bps
Efficiency Ratio70.28%88.91%60.93%64.32%59.53%94.27%58.70%60.72%-360 bps
Non-Interest Burden2.81%3.75%2.59%2.82%2.64%4.16%2.56%2.65%-17 bps
Growth
Asset Growth (YoY)0.48%-2.03%-0.84%0.29%-0.02%2.34%2.00%-1.11%-140 bps
Loan Growth (YoY)-6.85%-6.39%-12.28%-11.66%-10.67%-6.81%-3.52%1.39%+1,306 bps
Deposit Growth (YoY)2.61%-0.36%-0.53%-0.84%-1.82%1.38%1.11%1.95%+279 bps
Asset Quality
Nonperforming Loans / Loans3.09%2.62%1.91%1.85%2.18%1.85%1.85%2.30%+44 bps
Net Charge-Offs / Loans2.11%1.59%0.54%1.20%0.23%1.14%-0.39%0.34%-86 bps
Allowance / Loans1.30%1.03%1.24%1.25%1.50%1.19%1.58%1.64%+39 bps
Allowance Coverage of NPLs0.4x0.4x0.6x0.7x0.7x0.6x0.9x0.7x0.0x
Capital
Tier 1 Leverage Ratio9.89%10.02%9.67%9.68%10.10%10.06%9.52%9.78%+10 bps
Total Risk-Based Capital13.15%12.91%13.64%14.25%15.09%14.44%14.33%14.40%+15 bps
Equity / Assets10.08%9.96%9.50%9.87%10.37%10.13%9.35%10.10%+23 bps
Liquidity & Funding
Loans / Deposits95.15%94.56%86.03%86.92%86.56%86.92%82.10%86.45%-47 bps
Liquid Assets / Assets6.79%7.10%12.26%9.06%11.77%6.70%7.51%3.40%-566 bps
CRE / Total Capitaln/an/an/an/a118.08%118.45%129.79%n/an/a