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Horizon Financial Bank

Munich, ND · Cert 15598 · Munich Bancshares 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 operating in a single state3

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 operating in a single state (n=743 to 746). 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

28

Q2 2024Q2 2026peer median (50)

Asset Quality

60

Q2 2024Q2 2026peer median (50)

Profitability

44

Q2 2024Q2 2026peer median (50)

Liquidity

72

Q2 2024Q2 2026peer median

Efficiency

49

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

Horizon Financial Bank

Munich, ND · Cert 15598 · Munich Bancshares Inc.

State charter, non-member · FDIC · 5 branches

Q2 2026

$201.0MAssets
$150.8MLoans
$178.5MDeposits
$21.2MEquity
Loan mix
83%RE $59.5M13%C&I $9.4M4%Consumer $2.7MQ2 2025Q2 2026
Deposit mix
79%Interest-bearing $141.7M21%Noninterest $36.9MQ2 2025Q2 2026

NIM

5.23%Q2 ’245.36%Q2 ’255.35%Q2 ’26+3%+10%

Non-interest income vs. expense

2.31%Q2 ’242.23%Q2 ’252.47%Q2 ’26-4%+11%

Market Position · Bismarck, ND · 2026 SOD (annual) · 0.5% share · #16 of 18 inst. · $0.0B of $6.9B

28.3% Cavalier
4.1% Ramsey
0.7% Burleigh

Executive Summary

  • Earnings: ROA of 0.97%, up 2 bps year over year; NIM at 3.60%.
  • Asset quality: problem loans at 1.34% of loans (+134 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 10.78%, up 9 bps from a year ago.
  • Funding: loans stand at 84.44% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.97%+2 bps YoY

Net Interest Margin (YTD, annualized)

3.60%+34 bps YoY

Efficiency Ratio (YTD, annualized)

64.99%+30 bps YoY

Tier 1 Leverage Ratio

10.78%+9 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.95%0.98%1.05%0.92%0.97%+2 bps
Return on Equity9.20%9.29%9.95%8.68%9.19%-1 bps
Net Interest Margin3.27%3.40%3.43%3.52%3.60%+34 bps
Efficiency Ratio64.68%64.13%61.98%65.97%64.99%+30 bps
Non-Interest Burden2.05%2.12%2.06%2.26%2.27%+22 bps
Growth
Asset Growth (YoY)8.62%4.37%5.03%-1.75%1.72%-690 bps
Loan Growth (YoY)12.16%5.73%7.80%-0.25%1.98%-1,018 bps
Deposit Growth (YoY)11.12%6.40%3.41%-0.61%1.78%-934 bps
Asset Quality
Nonperforming Loans / Loans0.00%1.17%0.63%2.04%1.34%+134 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans1.09%1.09%1.05%1.23%1.14%+4 bps
Allowance Coverage of NPLsn/a0.9x1.7x0.6x0.8xn/a
Capital
Tier 1 Leverage Ratio10.69%11.16%11.33%10.40%10.78%+9 bps
Total Risk-Based Capital10.69%11.16%11.33%10.40%10.78%+9 bps
Equity / Assets10.60%10.91%10.88%10.25%10.55%-5 bps
Liquidity & Funding
Loans / Deposits84.28%85.49%89.76%76.30%84.44%+17 bps
Liquid Assets / Assets4.81%2.93%1.65%10.67%3.26%-155 bps
CRE / Total Capitaln/a51.28%55.04%58.97%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

Horizon Financial Bank

Munich, ND · Cert 15598 · Peer group: banks under $1B in assets operating in a single state (n=743-746) · Munich Bancshares Inc.

State charter, non-member · FDIC · 5 branches

Q2 2026

$201.0MAssets
$150.8MLoans
$178.5MDeposits
$21.2MEquity

Executive Summary

  • Strongest standing: net charge-offs / loans outperforms 100% of banks under $1B in assets operating in a single state (rank 185 of 743).
  • Widest gap: total risk-based capital ratio trails 84% of banks under $1B in assets operating in a single state (rank 630 of 746).
  • Overall: at or above the peer median on 2 of 9 directional measures.

Return on Assets

0.98%

Rank 419 of 746

Net Interest Margin

3.60%

Rank 399 of 746

Efficiency Ratio

64.99%

Rank 381 of 746

Equity / Assets

10.55%

Rank 367 of 746

Non-interest income vs. expense

$0.4M$5.0MINCOMEEXPENSE
Unfavorable gap of $4.6M · efficiency ratio beats 49% of banks under $1B in assets operating in a single state
Bank 64.99%Peer median 64.6%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets0.98%0.72%1.06%1.45%Beats 44%419 / 746
Return on Equity9.30%6.74%10.51%13.63%Beats 41%437 / 746
Net Interest Margin3.60%3.17%3.68%4.16%Beats 47%399 / 746
Efficiency Ratio64.99%55.74%64.58%75.47%Beats 49%381 / 746
Asset Quality
Nonperforming Loans / Loans1.34%0.09%0.42%1.07%Beats 19%601 / 743
Net Charge-Offs / Loans0.00%0.00%0.01%0.05%Beats 100%185 / 743
Capital
Tier 1 Capital Ratio10.78%11.55%13.75%17.60%Beats 17%622 / 746
Total Risk-Based Capital Ratio10.78%11.71%14.33%18.43%Beats 16%630 / 746
Equity / Assets10.55%8.90%10.51%13.06%Beats 51%367 / 746
Liquidity & Funding
Loans / Deposits84.44%61.31%78.27%90.78%64th pctl268 / 746
Loans / Assets75.00%53.60%66.97%76.08%71st pctl215 / 746
Brokered Deposits / Depositsn/aNot reported for this institution