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Letter portraitLegal landscapeQuarterYTD

Hiawatha National Bank

Hager City, WI · Cert 13058 · Lake Shore III Corp.

National charter · OCC · 1 affiliate bank · 8 branches (10 in holding)

Q2 2026

$781.3MAssets
$573.5MLoans
$602.1MDeposits
$86.8MEquity
Loan mix
79%RE $425.1M21%C&I $112.4M0%Consumer $1.4MQ2 2025Q2 2026
Deposit mix
87%Interest-bearing $523.5M13%Noninterest $78.7MQ2 2025Q2 2026

NIM

5.86%Q2 ’245.85%Q2 ’255.61%Q2 ’26+0%-4%

Non-interest income vs. expense

1.72%Q2 ’241.77%Q2 ’251.88%Q2 ’26+5%+6%

Market Position · Minneapolis-St. Paul-Bloomington, MN-WI · 2026 SOD (annual) · 0.2% share · #36 of 125 inst. · $0.5B of $253.2B

18.1% St. Croix
11.4% Pierce
2.6% Sheboygan
6.1% Polk

Executive Summary

  • Earnings: ROA of 0.89%, up 6 bps year over year; NIM at 2.92%.
  • Asset quality: problem loans at 5.32% of loans (+287 bps YoY), with net charge-offs at 0.02%.
  • Capital: tier 1 leverage ratio of 10.76%, up 97 bps from a year ago.
  • Funding: loans stand at 95.25% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.89%+6 bps YoY

Net Interest Margin (YTD, annualized)

2.92%-13 bps YoY

Efficiency Ratio (YTD, annualized)

60.49%+555 bps YoY

Tier 1 Leverage Ratio

10.76%+97 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.83%0.79%0.86%0.94%0.89%+6 bps
Return on Equity8.47%8.00%8.51%8.63%8.07%-40 bps
Net Interest Margin3.05%3.01%3.22%2.96%2.92%-13 bps
Efficiency Ratio54.94%56.81%56.56%61.82%60.49%+555 bps
Non-Interest Burden1.58%1.63%1.72%1.75%1.68%+10 bps
Growth
Asset Growth (YoY)4.31%1.05%-2.49%-0.52%-0.38%-469 bps
Loan Growth (YoY)9.15%8.05%5.15%2.50%2.54%-661 bps
Deposit Growth (YoY)6.78%6.90%-3.12%-0.30%-0.24%-702 bps
Asset Quality
Nonperforming Loans / Loans2.45%2.22%1.67%4.69%5.32%+287 bps
Net Charge-Offs / Loans0.38%0.25%0.24%-0.02%0.02%-36 bps
Allowance / Loans0.93%1.04%1.07%1.08%1.13%+20 bps
Allowance Coverage of NPLs0.4x0.5x0.6x0.2x0.2x-0.2x
Capital
Tier 1 Leverage Ratio9.79%9.80%10.43%10.65%10.76%+97 bps
Total Risk-Based Capital14.74%15.24%15.85%16.09%16.05%+131 bps
Equity / Assets9.91%10.31%10.97%10.90%11.11%+120 bps
Liquidity & Funding
Loans / Deposits92.66%91.16%97.29%94.24%95.25%+259 bps
Liquid Assets / Assets3.04%3.41%2.21%4.20%2.32%-73 bps
CRE / Total Capitaln/a378%377%377%n/an/a