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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

$558.1MAssets
$395.8MLoans
$449.8MDeposits
$49.9MEquity
Loan mix
92%RE $343.2M7%C&I $25.2M1%Consumer $3.4MQ3 2024Q2 2026
Deposit mix
80%Interest-bearing $360.1M20%Noninterest $89.7MQ3 2024Q2 2026

Executive Summary

  • Earnings: ROA of 0.98%, up 4 bps year over year; NIM at 3.72%.
  • Asset quality: problem loans at 0.12% of loans (+5 bps YoY), with net charge-offs at 0.01%.
  • 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.

Return on Assets (quarter, annualized)

0.98%+4 bps YoY

Net Interest Margin (quarter, annualized)

3.72%+55 bps YoY

Efficiency Ratio (quarter, annualized)

68.50%+95 bps YoY

Tier 1 Leverage Ratio

9.80%+12 bps YoY

NIM

4.12%Q2 ’244.50%Q2 ’255.12%Q2 ’26+21%+17%

Non-interest income vs. expense

2.50%Q2 ’242.53%Q2 ’252.95%Q2 ’260%+19%

Discrete quarter, annualized.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.82%0.60%0.02%0.95%0.76%0.91%0.68%0.98%+4 bps
Return on Equity10.31%7.29%0.24%11.34%8.66%10.29%7.76%11.07%-27 bps
Net Interest Margin2.88%3.07%2.83%3.17%3.32%3.67%3.40%3.72%+55 bps
Efficiency Ratio73.56%77.33%97.04%67.55%69.39%71.14%74.61%68.50%+95 bps
Non-Interest Burden2.09%2.37%2.83%2.10%2.27%2.58%2.52%2.50%+40 bps
Growth
Asset Growth (YoY)-1.43%-2.34%-4.93%-1.10%-1.24%5.39%5.74%6.71%+782 bps
Loan Growth (YoY)-3.10%-2.97%-3.89%-0.31%5.24%13.59%16.22%17.16%+1,747 bps
Deposit Growth (YoY)-1.12%-3.27%-4.58%-3.69%-3.20%1.60%1.91%2.73%+641 bps
Asset Quality
Nonperforming Loans / Loans0.08%0.08%0.08%0.07%0.08%0.08%0.13%0.12%+5 bps
Net Charge-Offs / Loans0.07%0.01%0.02%0.01%0.00%0.00%0.03%0.01%0 bps
Allowance / Loans1.16%1.14%1.12%1.10%1.04%0.97%1.02%1.01%-9 bps
Allowance Coverage of NPLs13.8x14.5x14.8x15.1x13.2x12.4x7.9x8.5x-6.5x
Capital
Tier 1 Leverage Ratio9.50%9.49%9.51%9.68%9.91%9.82%9.71%9.80%+12 bps
Total Risk-Based Capital9.50%9.49%9.51%9.68%9.91%9.82%9.71%9.80%+12 bps
Equity / Assets8.36%7.98%8.23%8.48%9.04%8.59%8.82%8.94%+46 bps
Liquidity & Funding
Loans / Deposits74.39%75.01%74.21%77.15%80.88%83.86%84.63%87.99%+1,084 bps
Liquid Assets / Assets0.88%1.00%1.11%0.90%1.00%0.93%0.69%0.68%-22 bps
CRE / Total Capitaln/an/an/an/a368%417%411%n/an/a