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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 $0.0BQ3 2024Q2 2026
Deposit mix
94%Interest-bearing $2.2B6%Noninterest $0.1BQ3 2024Q2 2026

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.

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

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%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.28%1.56%-0.41%0.68%1.60%1.85%1.70%1.66%+98 bps
Return on Equity7.59%9.23%-2.44%4.26%10.04%11.48%10.36%10.11%+585 bps
Net Interest Margin5.93%5.89%6.10%5.85%5.90%6.14%5.65%5.75%-9 bps
Efficiency Ratio55.66%53.66%57.28%55.09%52.00%53.39%52.28%52.81%-228 bps
Non-Interest Burden3.15%2.96%3.37%3.15%2.88%3.06%2.76%2.88%-27 bps
Growth
Asset Growth (YoY)15.94%1.38%0.09%10.09%2.39%6.65%4.32%-7.73%-1,782 bps
Loan Growth (YoY)15.89%6.25%9.31%16.43%7.52%7.72%-1.02%-9.42%-2,585 bps
Deposit Growth (YoY)16.32%14.15%7.13%18.89%0.72%1.89%0.94%-15.61%-3,450 bps
Asset Quality
Nonperforming Loans / Loans2.01%2.20%2.54%2.18%2.12%1.92%2.47%2.65%+48 bps
Net Charge-Offs / Loans0.98%0.86%0.42%0.46%0.47%0.41%2.88%2.08%+162 bps
Allowance / Loansn/an/an/an/an/an/an/an/an/an/a
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ratio17.02%17.23%16.14%14.12%14.76%15.79%15.11%15.42%+130 bps
Total Risk-Based Capital18.22%18.93%17.37%15.44%16.76%17.56%17.09%17.52%+208 bps
Equity / Assetsn/an/an/an/an/an/an/an/an/an/a
Liquidity & Funding
Loans / Deposits108.96%107.67%115.29%110.14%116.31%113.83%113.05%118.22%+808 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a