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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

$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