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Shell Lake State Bank

Shell Lake, WI · Cert 14911 · Shell Lake Bcorp Inc.

State charter, non-member · FDIC · 5 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 WI3

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 WI (n=110 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

42

Q2 2024Q2 2026peer median (50)

Asset Quality

62

Q2 2024Q2 2026peer median (50)

Profitability

40

Q2 2024Q2 2026peer median (50)

Liquidity

61

Q2 2024Q2 2026peer median

Efficiency

67

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

Shell Lake State Bank

Shell Lake, WI · Cert 14911 · Shell Lake Bcorp Inc.

State charter, non-member · FDIC · 5 branches

Q2 2026

$361.8MAssets
$240.8MLoans
$314.2MDeposits
$39.3MEquity
Loan mix
92%RE $209.4M4%C&I $9.1M4%Consumer $10.2MQ3 2024Q2 2026
Deposit mix
79%Interest-bearing $247.9M21%Noninterest $66.3MQ3 2024Q2 2026

Executive Summary

  • Earnings: ROA of 1.16%, up 19 bps year over year; NIM at 3.18%.
  • Asset quality: problem loans at 0.03% of loans (-3 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 12.31%, up 31 bps from a year ago.
  • Funding: loans stand at 76.63% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

1.16%+19 bps YoY

Net Interest Margin (YTD, annualized)

3.18%+36 bps YoY

Efficiency Ratio (YTD, annualized)

56.98%-166 bps YoY

Tier 1 Leverage Ratio

12.31%+31 bps YoY

NIM

4.22%Q2 ’244.62%Q2 ’254.89%Q2 ’26+15%+13%

Non-interest income vs. expense

1.78%Q2 ’241.83%Q2 ’252.01%Q2 ’26+6%+9%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.80%0.77%1.03%0.97%1.00%1.01%1.20%1.16%+19 bps
Return on Equity8.58%8.34%11.04%10.24%10.38%10.24%11.46%10.95%+71 bps
Net Interest Margin2.44%2.52%2.81%2.82%2.79%2.82%3.10%3.18%+36 bps
Efficiency Ratio61.47%63.80%56.48%58.64%57.54%58.08%55.25%56.98%-166 bps
Non-Interest Burden1.37%1.49%1.46%1.53%1.48%1.52%1.57%1.66%+13 bps
Growth
Asset Growth (YoY)9.76%5.76%5.58%4.39%3.77%5.56%3.40%3.48%-92 bps
Loan Growth (YoY)8.44%7.69%7.77%2.46%2.97%3.44%4.92%6.05%+360 bps
Deposit Growth (YoY)8.80%9.14%7.54%6.56%7.11%8.08%6.45%5.18%-139 bps
Asset Quality
Nonperforming Loans / Loans0.13%0.04%0.06%0.06%0.05%0.24%0.06%0.03%-3 bps
Net Charge-Offs / Loans0.04%0.04%0.01%0.00%0.01%0.01%0.01%0.00%0 bps
Allowance / Loans1.16%1.19%1.23%1.24%1.25%1.25%1.29%1.28%+4 bps
Allowance Coverage of NPLs9.1x27.1x20.5x21.6x23.5x5.3x19.9x41.8x+20.2x
Capital
Tier 1 Leverage Ratio11.58%11.64%11.86%12.00%11.85%11.61%11.99%12.31%+31 bps
Total Risk-Based Capital11.58%11.64%11.86%12.00%11.85%11.61%11.99%12.31%+31 bps
Equity / Assets9.78%9.10%9.57%9.82%10.22%10.38%10.60%10.87%+105 bps
Liquidity & Funding
Loans / Deposits76.51%76.33%78.04%76.00%73.56%73.06%76.92%76.63%+63 bps
Liquid Assets / Assets0.67%0.68%0.67%0.67%0.63%0.49%0.44%0.30%-37 bps
CRE / Total Capitaln/an/an/an/a127.10%138.07%137.07%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

Shell Lake State Bank

Shell Lake, WI · Cert 14911 · Peer group: banks under $1B in assets in WI (n=110-113) · Shell Lake Bcorp Inc.

State charter, non-member · FDIC · 5 branches

Q2 2026

$361.8MAssets
$240.8MLoans
$314.2MDeposits
$39.3MEquity

Executive Summary

  • Strongest standing: nonperforming loans / loans outperforms 74% of banks under $1B in assets in WI (rank 30 of 110).
  • Widest gap: net interest margin trails 76% of banks under $1B in assets in WI (rank 86 of 113).
  • Overall: at or above the peer median on 3 of 9 directional measures.

Return on Assets

1.16%

Rank 58 of 113

Net Interest Margin

3.18%

Rank 86 of 113

Efficiency Ratio

56.98%

Rank 38 of 113

Equity / Assets

10.87%

Rank 51 of 113

Non-interest income vs. expense

$1.3M$7.4MINCOMEEXPENSE
Unfavorable gap of $6.1M · efficiency ratio beats 67% of banks under $1B in assets in WI
Bank 56.98%Peer median 62.4%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets1.16%0.85%1.17%1.51%Beats 49%58 / 113
Return on Equity10.68%7.70%10.77%13.67%Beats 48%59 / 113
Net Interest Margin3.18%3.19%3.59%3.89%Beats 24%86 / 113
Efficiency Ratio56.98%54.61%62.43%71.88%Beats 67%38 / 113
Asset Quality
Nonperforming Loans / Loans0.03%0.03%0.24%0.91%Beats 74%30 / 110
Net Charge-Offs / Loans0.00%n/a0.00%0.01%Beats 49%58 / 110
Capital
Tier 1 Capital Ratio12.31%11.22%12.95%15.76%Beats 40%68 / 113
Total Risk-Based Capital Ratio12.31%11.57%13.59%16.73%Beats 32%77 / 113
Equity / Assets10.87%9.17%10.74%13.13%Beats 55%51 / 113
Liquidity & Funding
Loans / Deposits76.63%76.54%86.37%98.93%26th pctl83 / 112
Loans / Assets66.55%63.07%71.33%78.84%33rd pctl76 / 113
Brokered Deposits / Depositsn/aNot reported for this institution