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Chelsea State Bank

Chelsea, MI · Cert 14009 · CSB Bcorp Inc.

State charter, Fed member · FED · 4 branches

Q2 2026

$416.5MAssets
$256.4MLoans
$366.0MDeposits
$48.1MEquity
Loan mix
73%RE $185.3M26%C&I $65.3M1%Consumer $1.5MQ2 2025Q2 2026
Deposit mix
70%Interest-bearing $254.6M30%Noninterest $111.3MQ2 2025Q2 2026

NIM

5.29%Q2 ’245.20%Q2 ’255.10%Q2 ’26-4%+2%

Non-interest income vs. expense

3.00%Q2 ’242.55%Q2 ’252.60%Q2 ’26-14%+4%

Market Position · Ann Arbor, MI · 2026 SOD (annual) · 3.0% share · #10 of 15 inst. · $0.4B of $12.0B

3.0% Washtenaw
0.1% Jackson

Executive Summary

  • Earnings: ROA of 1.45%, up 6 bps year over year; NIM at 4.08%.
  • Asset quality: problem loans at 1.33% of loans (+124 bps YoY), with net recoveries of 0.01%.
  • Capital: tier 1 leverage ratio of 12.76%, up 4 bps from a year ago.
  • Funding: loans stand at 70.06% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.45%+6 bps YoY

Net Interest Margin (quarter, annualized)

4.08%+7 bps YoY

Efficiency Ratio (quarter, annualized)

59.85%+61 bps YoY

Tier 1 Leverage Ratio

12.76%+4 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.39%1.49%1.44%1.02%1.45%+6 bps
Return on Equity12.80%13.31%12.52%9.06%12.91%+11 bps
Net Interest Margin4.01%3.99%4.03%3.64%4.08%+7 bps
Efficiency Ratio59.24%59.40%61.04%66.45%59.85%+61 bps
Non-Interest Burden2.25%2.22%2.35%2.32%2.33%+8 bps
Growth
Asset Growth (YoY)-0.63%4.47%2.00%2.01%2.93%+356 bps
Loan Growth (YoY)2.28%-0.76%-4.09%-2.13%-1.64%-392 bps
Deposit Growth (YoY)-1.80%4.40%0.82%1.75%2.40%+420 bps
Asset Quality
Nonperforming Loans / Loans0.09%0.06%1.26%1.23%1.33%+124 bps
Net Charge-Offs / Loans0.00%0.00%-0.03%-0.01%-0.01%-1 bps
Allowance / Loans1.62%1.61%1.60%1.60%1.57%-6 bps
Allowance Coverage of NPLs18.8x27.0x1.3x1.3x1.2x-17.6x
Capital
Tier 1 Leverage Ratio12.72%12.87%12.68%12.17%12.76%+4 bps
Total Risk-Based Capital19.87%20.48%20.63%19.95%20.76%+88 bps
Equity / Assets11.01%11.39%11.60%10.86%11.54%+53 bps
Liquidity & Funding
Loans / Deposits72.93%70.35%69.54%68.79%70.06%-288 bps
Liquid Assets / Assets8.03%11.12%13.23%14.40%13.53%+550 bps
CRE / Total Capitaln/a280%280%295%n/an/a