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Blackhawk State Bank

Beloit, WI · Cert 14078

FDIC · 10 branches

Q3 2023

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: Q3 2023, the quarter ended September 30, 2023, 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

Blackhawk State Bank

Beloit, WI · Cert 14078

FDIC · 10 branches

Q3 2023

$1.5BAssets
$740.2MLoans
$1.3BDeposits
$154.9MEquity
Loan mix
65%RE $397.8M30%C&I $184.2M4%Consumer $27.1MQ3 2022Q3 2023
Deposit mix
79%Interest-bearing $1.0B21%Noninterest $0.3BQ3 2022Q3 2023

NIM

3.21%Q3 ’213.28%Q3 ’221.19%Q3 ’23+2%-69%

Non-interest income vs. expense

3.01%Q3 ’213.07%Q3 ’220.50%Q3 ’23+27%-83%

Market Position · Rockford, IL · 2023 SOD (annual) · 8.5% share · #5 of 22 inst. · $0.7B of $8.0B

7.0% Winnebago
11.3% Rock
22.2% Boone
1.4% Mchenry

Executive Summary

  • Earnings: ROA of 0.29%, down 71 bps year over year; NIM at 0.96%.
  • Asset quality: problem loans at 0.56% of loans (+14 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 5.97%, down 241 bps from a year ago.
  • Funding: loans stand at 56.37% of deposits as of Q3 2023.

Financial Results

Return on Assets (YTD, annualized)

0.29%1-71 bps YoY

Net Interest Margin (YTD, annualized)

0.96%-219 bps YoY

Efficiency Ratio (YTD, annualized)

38.39%-3,302 bps YoY

Tier 1 Leverage Ratio

5.97%-241 bps YoY

Year to date, annualized, through each quarter.

MetricQ3 2022Q4 2022Q1 2023Q2 2023Q3 2023YoY ΔTrend
Earnings
Return on Assets1.01%1.04%0.99%1.05%0.29%1-71 bps
Return on Equity12.99%13.70%13.55%14.19%3.56%-943 bps
Net Interest Margin3.16%3.25%3.49%3.46%0.96%-219 bps
Efficiency Ratio71.41%69.44%67.88%65.90%38.39%-3,302 bps
Non-Interest Burden1.94%1.93%2.07%1.94%0.33%-161 bps
Growth
Asset Growth (YoY)5.23%-0.98%-1.77%-2.85%7.30%+207 bps
Loan Growth (YoY)16.37%10.19%7.76%1.72%-5.01%-2,138 bps
Deposit Growth (YoY)8.54%0.01%-3.83%-2.60%3.39%-514 bps
Asset Quality
Nonperforming Loans / Loans0.42%0.39%0.35%0.34%0.56%+14 bps
Net Charge-Offs / Loans0.14%0.19%0.03%0.10%0.00%-14 bps
Allowance / Loans1.14%1.11%1.46%1.47%1.25%+11 bps
Allowance Coverage of NPLs2.7x2.9x4.2x4.3x2.2x-0.5x
Capital
Tier 1 Leverage Ratio8.38%8.56%8.66%8.89%5.97%-241 bps
Total Risk-Based Capital12.84%12.89%13.54%13.79%9.32%-351 bps
Equity / Assets6.57%7.12%7.56%7.48%10.51%+394 bps
Liquidity & Funding
Loans / Deposits61.36%65.32%67.93%65.97%56.37%-499 bps
Liquid Assets / Assets4.13%0.40%0.36%1.69%30.86%+2,673 bps
CRE / Total Capitaln/an/an/an/an/an/an/a