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Letter portraitLegal landscapeQuarterYTD

Peoples State Bank of Munising

Munising, MI · Cert 15165 · Peoples State Bcorp Inc.

State charter, non-member · FDIC · 5 branches

Q2 2026

$190.4MAssets
$110.7MLoans
$142.0MDeposits
$22.9MEquity
Loan mix
81%RE $89.4M16%C&I $17.3M3%Consumer $3.8MQ2 2025Q2 2026
Deposit mix
66%Interest-bearing $94.0M34%Noninterest $48.0MQ2 2025Q2 2026

NIM

4.03%Q2 ’244.19%Q2 ’254.28%Q2 ’26+13%+10%

Non-interest income vs. expense

2.30%Q2 ’242.55%Q2 ’253.01%Q2 ’26+13%+20%

Executive Summary

  • Earnings: ROA of 0.44%, down 10 bps year over year; NIM at 3.07%.
  • Asset quality: problem loans at 3.39% of loans (+211 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 12.75%, up 121 bps from a year ago.
  • Funding: loans stand at 77.97% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

0.44%-10 bps YoY

Net Interest Margin (quarter, annualized)

3.07%+29 bps YoY

Efficiency Ratio (quarter, annualized)

83.53%+654 bps YoY

Tier 1 Leverage Ratio

12.75%+121 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.54%0.67%1.14%0.42%0.44%-10 bps
Return on Equity5.16%6.10%9.59%3.49%3.63%-153 bps
Net Interest Margin2.78%3.22%2.80%2.94%3.07%+29 bps
Efficiency Ratio76.98%70.81%68.09%83.77%83.53%+654 bps
Non-Interest Burden2.12%2.20%1.67%2.46%2.54%+42 bps
Growth
Asset Growth (YoY)-3.38%-5.92%-9.12%-6.73%-4.10%-72 bps
Loan Growth (YoY)-3.95%-1.31%-8.36%-3.86%-3.27%+67 bps
Deposit Growth (YoY)-1.32%-2.03%-5.21%-6.35%-5.23%-391 bps
Asset Quality
Nonperforming Loans / Loans1.28%3.89%3.34%3.59%3.39%+211 bps
Net Charge-Offs / Loans0.00%0.05%0.03%0.07%0.00%0 bps
Allowance / Loans1.97%1.96%2.09%2.00%2.00%+3 bps
Allowance Coverage of NPLs1.5x0.5x0.6x0.6x0.6x-0.9x
Capital
Tier 1 Leverage Ratio11.54%11.95%11.49%12.64%12.75%+121 bps
Total Risk-Based Capital11.54%11.95%11.49%12.64%12.75%+121 bps
Equity / Assets10.66%11.41%12.28%11.96%12.02%+136 bps
Liquidity & Funding
Loans / Deposits76.39%74.82%76.91%77.35%77.97%+158 bps
Liquid Assets / Assets1.25%0.10%0.13%0.09%0.13%-112 bps
CRE / Total Capitaln/a315%283%295%n/an/a