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Wadena State Bank

Wadena, MN · Cert 13430 · Wadena Bankshares Inc.

State charter, Fed member · FED · 4 branches

Q2 2026

$206.6MAssets
$131.6MLoans
$187.9MDeposits
$17.9MEquity
Loan mix
76%RE $98.1M20%C&I $26.1M4%Consumer $4.6MQ3 2024Q2 2026
Deposit mix
78%Interest-bearing $147.3M22%Noninterest $40.5MQ3 2024Q2 2026

Executive Summary

  • Earnings: ROA of 1.59%, up 22 bps year over year; NIM at 4.26%.
  • Asset quality: problem loans at 0.04% of loans (-43 bps YoY), with net recoveries of 0.03%.
  • Capital: tier 1 leverage ratio of 9.84%, up 29 bps from a year ago.
  • Funding: loans stand at 70.04% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

1.59%+22 bps YoY

Net Interest Margin (YTD, annualized)

4.26%+15 bps YoY

Efficiency Ratio (YTD, annualized)

54.70%-553 bps YoY

Tier 1 Leverage Ratio

9.84%+29 bps YoY

NIM

5.50%Q2 ’245.56%Q2 ’255.64%Q2 ’26-2%+4%

Non-interest income vs. expense

2.41%Q2 ’242.65%Q2 ’252.48%Q2 ’26+12%-7%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.60%1.54%1.32%1.37%1.39%1.50%1.40%1.59%+22 bps
Return on Equity19.77%19.06%16.70%17.41%17.37%18.27%16.13%18.37%+96 bps
Net Interest Margin4.24%4.19%4.12%4.11%4.13%4.15%4.22%4.26%+15 bps
Efficiency Ratio53.89%55.26%61.58%60.23%59.98%57.51%59.27%54.70%-553 bps
Non-Interest Burden2.15%2.18%2.40%2.33%2.34%2.24%2.37%2.18%-15 bps
Growth
Asset Growth (YoY)-1.32%-2.42%-0.09%2.30%1.69%2.17%1.85%1.07%-123 bps
Loan Growth (YoY)3.36%5.67%5.59%9.53%4.35%2.34%4.47%-2.19%-1,172 bps
Deposit Growth (YoY)-1.22%-1.35%-0.36%0.48%2.33%1.51%1.03%3.08%+260 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.39%0.05%0.47%0.23%0.10%0.39%0.04%-43 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%-0.03%-3 bps
Allowance / Loans0.90%0.94%0.95%0.92%0.91%0.92%0.90%0.95%+4 bps
Allowance Coverage of NPLsn/a2.4x18.8x2.0x4.0x9.6x2.3x23.7x+21.7x
Capital
Tier 1 Leverage Ratio9.90%10.11%9.50%9.55%9.76%10.18%9.48%9.84%+29 bps
Total Risk-Based Capital9.90%10.11%9.50%9.55%9.76%10.18%9.48%9.84%+29 bps
Equity / Assets8.19%8.18%7.58%7.82%8.39%9.18%8.18%8.67%+85 bps
Liquidity & Funding
Loans / Deposits69.88%71.50%71.02%73.81%71.26%72.09%73.44%70.04%-377 bps
Liquid Assets / Assets3.53%3.03%3.58%3.46%4.71%2.67%2.78%6.45%+299 bps
CRE / Total Capitaln/an/an/an/a167.52%142.98%157.30%n/an/a