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Northwoods Bank of Minnesota

Park Rapids, MN · Cert 1415 · Dorset Bancshares Inc.

State savings bank · OCC · 4 branches

Q2 2026

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: Q2 2026, the quarter ended June 30, 2026, 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=111 to 113). 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

23

Q2 2024Q2 2026peer median (50)

Asset Quality

69

Q2 2024Q2 2026peer median (50)

Profitability

34

Q2 2024Q2 2026peer median (50)

Liquidity

48

Q2 2024Q2 2026peer median

Efficiency

16

Q2 2024Q2 2026peer 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

Northwoods Bank of Minnesota

Park Rapids, MN · Cert 1415 · Dorset Bancshares Inc.

State savings bank · OCC · 4 branches

Q2 2026

$140.6MAssets
$77.6MLoans
$125.0MDeposits
$13.0MEquity
Loan mix
95%RE $73.2M4%C&I $3.0M1%Consumer $1.0MQ3 2024Q2 2026
Deposit mix
72%Interest-bearing $89.4M28%Noninterest $35.6MQ3 2024Q2 2026

Executive Summary

  • Earnings: ROA of 0.87%, up 29 bps year over year; NIM at 3.80%.
  • Asset quality: problem loans at 0.03% of loans (-87 bps YoY), with net recoveries of 0.01%.
  • Capital: tier 1 leverage ratio of 11.22%, up 15 bps from a year ago.
  • Funding: loans stand at 62.08% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

0.87%+29 bps YoY

Net Interest Margin (YTD, annualized)

3.80%+50 bps YoY

Efficiency Ratio (YTD, annualized)

73.69%-658 bps YoY

Tier 1 Leverage Ratio

11.22%+15 bps YoY

NIM

4.36%Q2 ’244.47%Q2 ’254.88%Q2 ’26+7%+15%

Non-interest income vs. expense

2.97%Q2 ’242.97%Q2 ’253.08%Q2 ’26+2%+5%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.51%0.52%0.59%0.58%0.71%0.81%0.88%0.87%+29 bps
Return on Equity6.58%6.64%7.36%7.12%8.55%9.50%9.54%9.42%+230 bps
Net Interest Margin3.02%3.12%3.40%3.31%3.35%3.48%3.66%3.80%+50 bps
Efficiency Ratio81.46%81.34%79.64%80.27%76.94%76.15%72.48%73.69%-658 bps
Non-Interest Burden2.38%2.46%2.63%2.58%2.48%2.55%2.56%2.70%+12 bps
Growth
Asset Growth (YoY)0.94%1.01%-1.04%0.35%0.83%2.16%4.39%2.58%+222 bps
Loan Growth (YoY)2.90%3.15%-1.39%-5.10%0.39%1.30%1.62%3.44%+854 bps
Deposit Growth (YoY)-2.80%0.46%-1.66%-0.75%0.73%0.85%3.44%3.09%+383 bps
Asset Quality
Nonperforming Loans / Loans0.33%0.21%0.00%0.90%0.40%0.00%0.00%0.03%-87 bps
Net Charge-Offs / Loans-0.01%0.00%-0.02%-0.02%-0.01%-0.01%-0.01%-0.01%+1 bps
Allowance / Loans1.41%1.43%1.45%1.47%1.43%1.30%1.31%1.30%-17 bps
Allowance Coverage of NPLs4.2x6.7xn/a1.6x3.5x1009.0xn/a44.0x+42.3x
Capital
Tier 1 Leverage Ratio10.68%11.17%11.44%11.07%10.69%10.93%11.00%11.22%+15 bps
Total Risk-Based Capital10.68%11.17%11.44%11.07%10.69%10.93%11.00%11.22%+15 bps
Equity / Assets8.39%7.70%8.46%8.20%8.96%9.09%9.32%9.22%+103 bps
Liquidity & Funding
Loans / Deposits61.90%61.19%63.05%61.87%61.69%61.46%61.94%62.08%+21 bps
Liquid Assets / Assets0.86%0.68%0.68%0.69%0.68%0.76%0.66%2.83%+214 bps
CRE / Total Capitaln/an/an/an/a265%258%256%n/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

Northwoods Bank of Minnesota

Park Rapids, MN · Cert 1415 · Peer group: banks under $1B in assets in MN (n=111-113) · Dorset Bancshares Inc.

State savings bank · OCC · 4 branches

Q2 2026

$140.6MAssets
$77.6MLoans
$125.0MDeposits
$13.0MEquity

Executive Summary

  • Strongest standing: nonperforming loans / loans outperforms 86% of banks under $1B in assets in MN (rank 17 of 111).
  • Widest gap: total risk-based capital ratio trails 84% of banks under $1B in assets in MN (rank 95 of 113).
  • Overall: at or above the peer median on 2 of 9 directional measures.

Return on Assets

0.87%

Rank 84 of 113

Net Interest Margin

3.80%

Rank 62 of 113

Efficiency Ratio

73.69%

Rank 96 of 113

Equity / Assets

9.22%

Rank 76 of 113

Non-interest income vs. expense

$0.5M$4.4MINCOMEEXPENSE
Unfavorable gap of $3.8M · efficiency ratio beats 16% of banks under $1B in assets in MN
Bank 73.69%Peer median 61.5%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets0.87%0.87%1.20%1.41%Beats 26%84 / 113
Return on Equity9.46%8.92%11.27%13.99%Beats 30%79 / 113
Net Interest Margin3.80%3.42%3.88%4.31%Beats 45%62 / 113
Efficiency Ratio73.69%54.13%61.48%69.86%Beats 16%96 / 113
Asset Quality
Nonperforming Loans / Loans0.03%0.09%0.58%1.82%Beats 86%17 / 111
Net Charge-Offs / Loans0.00%n/a0.00%0.04%Beats 51%55 / 111
Capital
Tier 1 Capital Ratio11.22%11.53%13.31%18.13%Beats 20%90 / 113
Total Risk-Based Capital Ratio11.22%12.12%14.43%19.39%Beats 16%95 / 113
Equity / Assets9.22%8.52%10.10%11.94%Beats 33%76 / 113
Liquidity & Funding
Loans / Deposits62.08%62.08%77.32%88.06%24th pctl84 / 111
Loans / Assets55.17%55.01%66.35%75.50%26th pctl84 / 113
Brokered Deposits / Depositsn/aNot reported for this institution