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Security State Bank of Pine Island, The

Pine Island, MN · Cert 12193

FDIC · 1 branch

Q2 2022

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q2 2022, the quarter ended June 30, 2022, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

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

Security State Bank of Pine Island, The

Pine Island, MN · Cert 12193

FDIC · 1 branch

Q2 2022

$156.5MAssets
$112.0MLoans
$129.3MDeposits
$22.0MEquity
Loan mix
90%RE $85.3M8%C&I $8.0M2%Consumer $1.7MQ2 2021Q2 2022
Deposit mix
82%Interest-bearing $106.7M18%Noninterest $22.7MQ2 2021Q2 2022

NIM

4.33%Q2 ’204.62%Q2 ’213.79%Q2 ’22+16%-8%

Non-interest income vs. expense

1.74%Q2 ’201.73%Q2 ’211.55%Q2 ’22-3%-9%

Executive Summary

  • Earnings: ROA of 1.48%, down 111 bps year over year; NIM at 3.88%.
  • Asset quality: problem loans at 0.12% of loans (-2 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 8.35%, down 165 bps from a year ago.
  • Funding: loans stand at 86.61% of deposits as of Q2 2022.

Financial Results

Return on Assets (YTD, annualized)

1.48%-111 bps YoY

Net Interest Margin (YTD, annualized)

3.88%-33 bps YoY

Efficiency Ratio (YTD, annualized)

39.10%-44 bps YoY

Tier 1 Leverage Ratio

8.35%-165 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2021Q3 2021Q4 2021Q1 2022Q2 2022YoY ΔTrend
Earnings
Return on Assets2.59%2.51%0.15%1.43%1.48%-111 bps
Return on Equity23.94%23.25%1.26%9.12%9.81%-1,413 bps
Net Interest Margin4.21%4.09%0.23%3.72%3.88%-33 bps
Efficiency Ratio39.55%39.92%34.78%40.06%39.10%-44 bps
Non-Interest Burden1.52%1.49%0.07%1.34%1.38%-14 bps
Growth
Asset Growth (YoY)-2.09%4.23%16.50%27.50%36.25%+3,834 bps
Loan Growth (YoY)8.09%9.50%9.53%10.81%11.22%+313 bps
Deposit Growth (YoY)2.10%5.61%9.01%22.94%34.11%+3,201 bps
Asset Quality
Nonperforming Loans / Loans0.14%0.13%0.13%0.13%0.12%-2 bps
Net Charge-Offs / Loans-0.08%-0.05%0.00%0.00%0.00%+8 bps
Allowance / Loans1.16%1.16%0.00%0.07%0.21%-95 bps
Allowance Coverage of NPLs8.2x8.8x0.0x0.6x1.8x-6.4x
Capital
Tier 1 Leverage Ratio10.00%10.01%8.36%8.63%8.35%-165 bps
Total Risk-Based Capital14.54%14.42%11.56%12.10%11.88%-267 bps
Equity / Assets11.08%10.75%16.23%15.24%14.03%+295 bps
Liquidity & Funding
Loans / Deposits104.43%104.65%99.16%88.17%86.61%-1,782 bps
Liquid Assets / Assets0.15%0.14%1.28%1.19%0.08%-6 bps
CRE / Total Capitaln/an/an/an/an/an/an/a