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Grant County State Bank

Swayzee, IN · Cert 15687 · Grant Cnty St Bancshares Emp STK Ownership Plan

State charter, non-member · FDIC · 3 branches

Q2 2026

$395.7MAssets
$325.6MLoans
$308.2MDeposits
$46.3MEquity
Loan mix
88%RE $256.3M6%C&I $16.3M6%Consumer $18.7MQ2 2025Q2 2026
Deposit mix
87%Interest-bearing $267.5M13%Noninterest $40.7MQ2 2025Q2 2026

NIM

6.90%Q2 ’247.21%Q2 ’257.12%Q2 ’26-1%-4%

Non-interest income vs. expense

0.96%Q2 ’240.98%Q2 ’250.85%Q2 ’26+1%-16%

Executive Summary

  • Earnings: ROA of 2.50%, down 9 bps year over year; NIM at 4.06%.
  • Asset quality: problem loans at 2.35% of loans (+64 bps YoY), with net charge-offs at 0.03%.
  • Capital: tier 1 leverage ratio of 11.73%, down 83 bps from a year ago.
  • Funding: loans stand at 105.64% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

2.50%-9 bps YoY

Net Interest Margin (quarter, annualized)

4.06%-18 bps YoY

Efficiency Ratio (quarter, annualized)

20.02%-223 bps YoY

Tier 1 Leverage Ratio

11.73%-83 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets2.58%2.53%1.89%2.26%2.50%-9 bps
Return on Equity20.20%21.00%16.42%19.63%21.31%+111 bps
Net Interest Margin4.24%4.19%4.10%3.88%4.06%-18 bps
Efficiency Ratio22.25%21.12%20.90%22.73%20.02%-223 bps
Non-Interest Burden0.81%0.77%0.75%0.79%0.68%-13 bps
Growth
Asset Growth (YoY)12.73%8.72%8.83%7.12%5.46%-727 bps
Loan Growth (YoY)16.85%12.07%8.75%7.72%3.63%-1,322 bps
Deposit Growth (YoY)15.13%11.51%12.09%8.19%5.39%-974 bps
Asset Quality
Nonperforming Loans / Loans1.72%2.13%2.08%1.86%2.35%+64 bps
Net Charge-Offs / Loans0.13%0.15%0.07%0.01%0.03%-9 bps
Allowance / Loans1.61%1.60%1.94%1.97%1.96%+35 bps
Allowance Coverage of NPLs0.9x0.8x0.9x1.1x0.8x-0.1x
Capital
Tier 1 Leverage Ratio12.57%11.86%11.18%11.92%11.73%-83 bps
Total Risk-Based Capital19.93%18.66%18.87%19.54%18.81%-112 bps
Equity / Assets12.44%11.70%11.29%11.73%11.71%-73 bps
Liquidity & Funding
Loans / Deposits107.44%105.34%101.05%102.30%105.64%-180 bps
Liquid Assets / Assets14.28%14.94%18.05%18.69%16.01%+173 bps
CRE / Total Capitaln/a145.90%140.95%140.32%n/an/a