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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

$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

9.31%Q2 ’249.00%Q2 ’258.35%Q2 ’26+2%-6%

Non-interest income vs. expense

3.36%Q2 ’243.55%Q2 ’253.31%Q2 ’26+9%-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 1.61%, up 23 bps year over year; NIM at 5.79%.
  • Asset quality: problem loans at 2.65% of loans (+48 bps YoY), with net charge-offs at 1.26%.
  • 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 (quarter, annualized)

1.61%+23 bps YoY

Net Interest Margin (quarter, annualized)

5.79%-39 bps YoY

Efficiency Ratio (quarter, annualized)

53.35%+23 bps YoY

Tier 1 Leverage Ratio

15.42%+130 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.38%2.75%2.05%1.70%1.61%+23 bps
Return on Equity8.97%18.02%12.52%10.36%9.97%+101 bps
Net Interest Margin6.18%5.94%6.44%5.65%5.79%-39 bps
Efficiency Ratio53.11%46.41%57.32%52.28%53.35%+23 bps
Non-Interest Burden3.24%2.30%3.41%2.76%2.96%-29 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 / Loans0.53%0.43%0.25%2.88%1.26%+73 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