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Stearns Bank National Association

Saint Cloud, MN · Cert 10988 · Stearns Finl Services Employee STK Ownership Plan

National charter · OCC · 8 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks $1B-$10B in assets operating regionally3

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 $1B-$10B in assets operating regionally (n=176). 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

92

Q2 2024Q2 2026peer median (50)

Asset Quality

3

Q2 2024Q2 2026peer median (50)

Profitability

73

Q2 2024Q2 2026peer median (50)

Liquidity

0

Q2 2024Q2 2026peer median

Efficiency

73

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

Stearns Bank National Association

Saint Cloud, MN · Cert 10988 · Stearns Finl Services Employee STK Ownership Plan

National charter · OCC · 8 branches

Q2 2026

$3.3BAssets
$2.8BLoans
$2.4BDeposits
$534.6MEquity
Loan mix
47%RE $1.3B53%C&I $1.5B0%Consumer $0.0BQ2 2025Q2 2026
Deposit mix
94%Interest-bearing $2.2B6%Noninterest $0.1BQ2 2025Q2 2026

NIM

8.98%Q2 ’248.50%Q2 ’258.28%Q2 ’26+1%-2%

Non-interest income vs. expense

3.42%Q2 ’243.46%Q2 ’253.29%Q2 ’26+5%-9%

Market Position · St. Cloud, MN · 2026 SOD (annual) · 25.2% share · #1 of 32 inst. · $2.0B of $7.9B

27.7% Stearns
1.2% Sarasota
0.1% Maricopa
13.3% Pine

Executive Summary

  • Earnings: ROA of 1.66%, up 98 bps year over year; NIM at 5.75%.
  • Asset quality: problem loans at 2.65% of loans (+48 bps YoY), with net charge-offs at 2.08%.
  • Capital: tier 1 leverage ratio of 15.42%, up 130 bps from a year ago.
  • Funding: loans stand at 118.22% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.66%+98 bps YoY

Net Interest Margin (YTD, annualized)

5.75%-9 bps YoY

Efficiency Ratio (YTD, annualized)

52.81%-228 bps YoY

Tier 1 Leverage Ratio

15.42%+130 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.68%1.60%1.85%1.70%1.66%+98 bps
Return on Equity4.26%10.04%11.48%10.36%10.11%+585 bps
Net Interest Margin5.85%5.90%6.14%5.65%5.75%-9 bps
Efficiency Ratio55.09%52.00%53.39%52.28%52.81%-228 bps
Non-Interest Burden3.15%2.88%3.06%2.76%2.88%-27 bps
Growth
Asset Growth (YoY)10.09%2.39%6.65%4.32%-7.73%-1,782 bps
Loan Growth (YoY)16.43%7.52%7.72%-1.02%-9.42%-2,585 bps
Deposit Growth (YoY)18.89%0.72%1.89%0.94%-15.61%-3,450 bps
Asset Quality
Nonperforming Loans / Loans2.18%2.12%1.92%2.47%2.65%+48 bps
Net Charge-Offs / Loans0.46%0.47%0.41%2.88%2.08%+162 bps
Allowance / Loansn/an/an/an/an/an/an/a
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ratio14.12%14.76%15.79%15.11%15.42%+130 bps
Total Risk-Based Capital15.44%16.76%17.56%17.09%17.52%+208 bps
Equity / Assetsn/an/an/an/an/an/an/a
Liquidity & Funding
Loans / Deposits110.14%116.31%113.83%113.05%118.22%+808 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/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

Stearns Bank National Association

Saint Cloud, MN · Cert 10988 · Peer group: banks $1B-$10B in assets operating regionally (n=176) · Stearns Finl Services Employee STK Ownership Plan

National charter · OCC · 8 branches

Q2 2026

$3.3BAssets
$2.8BLoans
$2.4BDeposits
$534.6MEquity

Executive Summary

  • Strongest standing: net interest margin outperforms 98% of banks $1B-$10B in assets operating regionally (rank 3 of 176).
  • Widest gap: net charge-offs / loans trails 98% of banks $1B-$10B in assets operating regionally (rank 174 of 176).
  • Overall: at or above the peer median on 6 of 9 directional measures.

Return on Assets

1.67%

Rank 26 of 176

Net Interest Margin

5.75%

Rank 3 of 176

Efficiency Ratio

53.36%

Rank 49 of 176

Equity / Assets

16.33%

Rank 4 of 176

Non-interest income vs. expense

$13.5M$107.1MINCOMEEXPENSE
Unfavorable gap of $93.6M · efficiency ratio beats 73% of banks $1B-$10B in assets operating regionally
Bank 53.36%Peer median 59.6%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets1.67%0.93%1.26%1.54%Beats 85%26 / 176
Return on Equity10.23%9.26%11.89%14.46%Beats 37%111 / 176
Net Interest Margin5.75%3.25%3.59%3.93%Beats 98%3 / 176
Efficiency Ratio53.36%52.79%59.55%67.66%Beats 73%49 / 176
Asset Quality
Nonperforming Loans / Loans2.65%0.30%0.64%1.32%Beats 3%171 / 176
Net Charge-Offs / Loans1.18%0.01%0.04%0.10%Beats 2%174 / 176
Capital
Tier 1 Capital Ratio16.25%11.15%12.72%14.15%Beats 89%20 / 176
Total Risk-Based Capital Ratio17.52%11.81%13.63%15.33%Beats 90%18 / 176
Equity / Assets16.33%9.16%10.35%11.80%Beats 98%4 / 176
Liquidity & Funding
Loans / Deposits118.22%80.94%89.73%97.21%99th pctl2 / 176
Loans / Assets86.13%69.25%75.12%80.82%96th pctl7 / 176
Brokered Deposits / Depositsn/aNot reported for this institution