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First Security Bank - Sanborn

Sanborn, MN · Cert 1386

FDIC · 2 branches

Q3 2024

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets in MN3

Basis

Quarter: Q3 2024, the quarter ended September 30, 2024, on both parts.

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

Balance sheet: as filed at quarter end.

Peer group

Banks under $1B in assets in MN (n=124 to 126). Each measure ranks only the institutions that reported it, so n varies by measure.

Peer groups below the disclosure floor are suppressed.

Peer standing

Capital

65

Q2 2024Q3 2024peer median (50)

Asset Quality

51

Q2 2024Q3 2024peer median (50)

Profitability

14

Q2 2024Q3 2024peer median (50)

Liquidity

45

Q2 2024Q3 2024peer median

Efficiency

2

Q2 2024Q3 2024peer median (50)

Growth

No peer data yet

Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.

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

First Security Bank - Sanborn

Sanborn, MN · Cert 1386

FDIC · 2 branches

Q3 2024

$42.6MAssets
$23.1MLoans
$37.7MDeposits
$4.6MEquity
Loan mix
77%RE $10.0M18%C&I $2.4M5%Consumer $0.6MQ4 2022Q3 2024
Deposit mix
75%Interest-bearing $28.3M25%Noninterest $9.4MQ4 2022Q3 2024

Executive Summary

  • Earnings: ROA of -0.70%, down 128 bps year over year; NIM at 3.09%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 2.10%.
  • Capital: tier 1 leverage ratio of 8.68%, down 67 bps from a year ago.
  • Funding: loans stand at 61.47% of deposits as of Q3 2024.

Return on Assets (YTD, annualized)

-0.70%-128 bps YoY

Net Interest Margin (YTD, annualized)

3.09%+4 bps YoY

Efficiency Ratio (YTD, annualized)

102.70%+2,914 bps YoY

Tier 1 Leverage Ratio

8.68%-67 bps YoY

NIM

3.17%Q3 ’223.55%Q3 ’234.39%Q3 ’24+4%+1%

Non-interest income vs. expense

1.94%Q3 ’222.35%Q3 ’233.31%Q3 ’24+25%+44%

Year to date, annualized, through each quarter.

MetricQ4 2022Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024YoY ΔTrend
Earnings
Return on Assets0.91%0.61%0.58%0.58%0.68%0.80%0.72%-0.70%-128 bps
Return on Equity9.56%6.33%5.87%5.96%7.12%8.62%7.47%-7.11%-1,307 bps
Net Interest Margin3.08%3.28%3.31%3.05%3.17%3.05%3.15%3.09%+4 bps
Efficiency Ratio54.37%72.40%73.49%73.55%69.67%64.99%65.54%102.70%+2,914 bps
Non-Interest Burden1.54%2.26%2.31%2.14%2.10%1.86%1.93%3.08%+94 bps
Growth
Asset Growth (YoY)-1.87%-5.43%-5.21%5.15%12.28%3.50%3.74%-9.31%-1,446 bps
Loan Growth (YoY)10.07%12.89%13.92%11.32%11.23%5.06%4.42%-5.71%-1,703 bps
Deposit Growth (YoY)-0.58%-5.92%-6.20%4.36%12.73%3.71%3.44%-10.83%-1,519 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.21%0.00%0.00%0.00%0.38%0.99%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%2.10%+210 bps
Allowance / Loans1.29%1.27%1.24%1.20%1.15%1.21%1.28%1.09%-11 bps
Allowance Coverage of NPLsn/a6.0xn/an/an/a3.2x1.3xn/an/a
Capital
Tier 1 Leverage Ratio9.70%9.65%10.19%9.35%9.17%8.37%9.18%8.68%-67 bps
Total Risk-Based Capital9.70%9.65%10.19%9.35%16.75%16.83%16.91%17.33%+798 bps
Equity / Assets9.16%10.16%10.11%9.57%8.81%9.92%10.29%10.81%+124 bps
Liquidity & Funding
Loans / Deposits53.43%57.19%59.42%58.13%52.72%57.93%59.98%61.47%+334 bps
Liquid Assets / Assets16.11%11.34%9.35%13.24%22.11%15.91%13.67%10.57%-267 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a

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. Income-statement figures are year-to-date as filed, annualized (the UBPR convention). Each quarter includes the ones before it.

CallReports · callreports.ai· Performance TrendsGenerated 2026-10-11

First Security Bank - Sanborn

Sanborn, MN · Cert 1386 · Peer group: banks under $1B in assets in MN (n=124-126)

FDIC · 2 branches

Q3 2024

$42.6MAssets
$23.1MLoans
$37.7MDeposits
$4.6MEquity

Executive Summary

  • Strongest standing: nonperforming loans / loans outperforms 100% of banks under $1B in assets in MN (rank 25 of 124).
  • Widest gap: return on equity trails 100% of banks under $1B in assets in MN (rank 126 of 126).
  • Overall: at or above the peer median on 4 of 9 directional measures.

Return on Assets

-0.78%

Rank 125 of 126

Net Interest Margin

3.09%

Rank 76 of 126

Efficiency Ratio

102.70%

Rank 125 of 126

Equity / Assets

10.81%

Rank 46 of 126

Non-interest income vs. expense

$0.1M$1.5MINCOMEEXPENSE
Unfavorable gap of $1.4M · efficiency ratio beats 2% of banks under $1B in assets in MN
Bank 102.70%Peer median 67.3%Q2 2024Q3 2024Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets-0.78%0.57%0.86%1.26%Beats 1%125 / 126
Return on Equity-7.24%5.98%9.44%12.15%Beats 0%126 / 126
Net Interest Margin3.09%2.90%3.27%3.83%Beats 40%76 / 126
Efficiency Ratio102.70%58.59%67.34%75.19%Beats 2%125 / 126
Asset Quality
Nonperforming Loans / Loans0.00%0.02%0.33%1.14%Beats 100%25 / 124
Net Charge-Offs / Loans1.52%n/a0.01%0.04%Beats 1%124 / 124
Capital
Tier 1 Capital Ratio16.23%11.32%13.51%18.92%Beats 65%44 / 126
Total Risk-Based Capital Ratio17.33%11.73%14.10%19.91%Beats 66%43 / 126
Equity / Assets10.81%8.19%9.75%12.03%Beats 63%46 / 126
Liquidity & Funding
Loans / Deposits61.47%61.75%75.71%91.93%23rd pctl95 / 124
Loans / Assets54.34%54.10%64.74%77.31%27th pctl91 / 124
Brokered Deposits / Depositsn/aNot reported for this institution