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First Security Bank - Hendricks

Hendricks, MN · Cert 15767

FDIC · 1 branch

Q2 2025

$40.3MAssets
$14.8MLoans
$35.7MDeposits
$4.5MEquity
Loan mix
60%RE $5.6M35%C&I $3.2M5%Consumer $0.5MQ3 2023Q2 2025
Deposit mix
68%Interest-bearing $24.1M32%Noninterest $11.6MQ3 2023Q2 2025

Executive Summary

  • Earnings: ROA of 1.92%, up 58 bps year over year; NIM at 3.13%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 13.63%, down 60 bps from a year ago.
  • Funding: loans stand at 41.48% of deposits as of Q2 2025.

Return on Assets (YTD, annualized)

1.92%+58 bps YoY

Net Interest Margin (YTD, annualized)

3.13%-4 bps YoY

Efficiency Ratio (YTD, annualized)

47.57%+59 bps YoY

Tier 1 Leverage Ratio

13.63%-60 bps YoY

NIM

3.52%Q2 ’234.43%Q2 ’244.19%Q2 ’25+4%-1%

Non-interest income vs. expense

1.85%Q2 ’231.61%Q2 ’241.62%Q2 ’25-10%-1%

Year to date, annualized, through each quarter.

MetricQ3 2023Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025YoY ΔTrend
Earnings
Return on Assets1.23%1.20%1.28%1.34%1.36%1.33%2.41%1.92%+58 bps
Return on Equity13.75%13.51%13.60%13.70%13.20%12.61%21.18%17.03%+333 bps
Net Interest Margin2.89%2.92%2.97%3.17%3.23%3.15%2.98%3.13%-4 bps
Efficiency Ratio54.05%52.94%45.74%46.98%47.68%49.49%47.61%47.57%+59 bps
Non-Interest Burden1.40%1.41%1.23%1.35%1.39%1.41%1.15%1.34%-1 bps
Growth
Asset Growth (YoY)7.17%26.49%10.45%1.31%-3.00%-16.73%-3.57%-2.46%-378 bps
Loan Growth (YoY)-4.80%0.49%-2.34%3.63%2.65%-6.45%-5.86%-17.33%-2,096 bps
Deposit Growth (YoY)5.71%26.07%9.39%-0.40%-6.66%-19.36%-4.71%-2.89%-249 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans1.74%1.70%1.77%1.67%1.57%1.79%1.07%1.11%-56 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ratio12.94%13.19%13.33%14.23%14.94%14.98%14.13%13.63%-60 bps
Total Risk-Based Capital25.31%25.68%28.18%28.96%30.12%31.22%30.64%30.86%+190 bps
Equity / Assets8.63%8.70%10.15%10.79%12.01%11.51%11.20%11.16%+37 bps
Liquidity & Funding
Loans / Deposits44.24%38.39%42.61%48.72%48.66%44.53%42.09%41.48%-725 bps
Liquid Assets / Assets28.39%36.41%30.55%21.62%21.20%25.88%28.68%30.69%+907 bps
CRE / Total Capitaln/an/an/an/an/an/an/an/an/an/a