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First State Bank

New London, WI · Cert 15271 · First State Bancshares Inc.

State charter, non-member · FDIC · 8 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

15

Q2 2024Q2 2026peer median (50)

Asset Quality

41

Q2 2024Q2 2026peer median (50)

Profitability

34

Q2 2024Q2 2026peer median (50)

Liquidity

92

Q2 2024Q2 2026peer median

Efficiency

21

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

First State Bank

New London, WI · Cert 15271 · First State Bancshares Inc.

State charter, non-member · FDIC · 8 branches

Q2 2026

$558.1MAssets
$395.8MLoans
$449.8MDeposits
$49.9MEquity
Loan mix
92%RE $343.2M7%C&I $25.2M1%Consumer $3.4MQ2 2025Q2 2026
Deposit mix
80%Interest-bearing $360.1M20%Noninterest $89.7MQ2 2025Q2 2026

NIM

4.06%Q2 ’244.37%Q2 ’254.96%Q2 ’26+17%+18%

Non-interest income vs. expense

2.51%Q2 ’242.92%Q2 ’252.95%Q2 ’26+18%+1%

Executive Summary

  • Earnings: ROA of 0.83%, up 35 bps year over year; NIM at 3.56%.
  • Asset quality: problem loans at 0.12% of loans (+5 bps YoY), with net charge-offs at 0.02%.
  • Capital: tier 1 leverage ratio of 9.80%, up 12 bps from a year ago.
  • Funding: loans stand at 87.99% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.83%+35 bps YoY

Net Interest Margin (YTD, annualized)

3.56%+54 bps YoY

Efficiency Ratio (YTD, annualized)

71.42%-1,027 bps YoY

Tier 1 Leverage Ratio

9.80%+12 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.48%0.57%0.65%0.68%0.83%+35 bps
Return on Equity5.83%6.79%7.72%7.76%9.42%+358 bps
Net Interest Margin3.02%3.12%3.22%3.40%3.56%+54 bps
Efficiency Ratio81.69%77.35%75.60%74.61%71.42%-1,027 bps
Non-Interest Burden2.48%2.42%2.43%2.52%2.51%+3 bps
Growth
Asset Growth (YoY)-1.10%-1.24%5.39%5.74%6.71%+782 bps
Loan Growth (YoY)-0.31%5.24%13.59%16.22%17.16%+1,747 bps
Deposit Growth (YoY)-3.69%-3.20%1.60%1.91%2.73%+641 bps
Asset Quality
Nonperforming Loans / Loans0.07%0.08%0.08%0.13%0.12%+5 bps
Net Charge-Offs / Loans0.02%0.01%0.01%0.03%0.02%0 bps
Allowance / Loans1.10%1.04%0.97%1.02%1.01%-9 bps
Allowance Coverage of NPLs15.1x13.2x12.4x7.9x8.5x-6.5x
Capital
Tier 1 Leverage Ratio9.68%9.91%9.82%9.71%9.80%+12 bps
Total Risk-Based Capital9.68%9.91%9.82%9.71%9.80%+12 bps
Equity / Assets8.48%9.04%8.59%8.82%8.94%+46 bps
Liquidity & Funding
Loans / Deposits77.15%80.88%83.86%84.63%87.99%+1,084 bps
Liquid Assets / Assets0.90%1.00%0.93%0.69%0.68%-22 bps
CRE / Total Capitaln/a368%417%411%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

First State Bank

New London, WI · Cert 15271 · Peer group: banks under $1B in assets in WI (n=110-113) · First State Bancshares Inc.

State charter, non-member · FDIC · 8 branches

Q2 2026

$558.1MAssets
$395.8MLoans
$449.8MDeposits
$49.9MEquity

Executive Summary

  • Strongest standing: nonperforming loans / loans outperforms 60% of banks under $1B in assets in WI (rank 45 of 110).
  • Widest gap: total risk-based capital ratio trails 89% of banks under $1B in assets in WI (rank 101 of 113).
  • Overall: at or above the peer median on 1 of 9 directional measures.

Return on Assets

0.83%

Rank 88 of 113

Net Interest Margin

3.56%

Rank 59 of 113

Efficiency Ratio

73.99%

Rank 90 of 113

Equity / Assets

8.94%

Rank 88 of 113

Non-interest income vs. expense

$2.4M$16.6MINCOMEEXPENSE
Unfavorable gap of $14.1M · efficiency ratio beats 21% of banks under $1B in assets in WI
Bank 73.99%Peer median 62.4%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets0.83%0.85%1.17%1.51%Beats 22%88 / 113
Return on Equity9.26%7.70%10.77%13.67%Beats 33%76 / 113
Net Interest Margin3.56%3.19%3.59%3.89%Beats 48%59 / 113
Efficiency Ratio73.99%54.61%62.43%71.88%Beats 21%90 / 113
Asset Quality
Nonperforming Loans / Loans0.12%0.03%0.24%0.91%Beats 60%45 / 110
Net Charge-Offs / Loans0.01%n/a0.00%0.01%Beats 22%87 / 110
Capital
Tier 1 Capital Ratio9.80%11.22%12.95%15.76%Beats 12%100 / 113
Total Risk-Based Capital Ratio9.80%11.57%13.59%16.73%Beats 11%101 / 113
Equity / Assets8.94%9.17%10.74%13.13%Beats 22%88 / 113
Liquidity & Funding
Loans / Deposits87.99%76.54%86.37%98.93%55th pctl50 / 112
Loans / Assets70.91%63.07%71.33%78.84%47th pctl60 / 113
Brokered Deposits / Depositsn/aNot reported for this institution