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Security State Bank

Algona, IA · Cert 15839 · Burt Bancshares Inc.

State charter, non-member · FDIC · 4 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 IA3

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 IA (n=134 to 135). 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

94

Q2 2024Q2 2026peer median (50)

Asset Quality

56

Q2 2024Q2 2026peer median (50)

Profitability

77

Q2 2024Q2 2026peer median (50)

Liquidity

0

Q2 2024Q2 2026peer median

Efficiency

93

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

Security State Bank

Algona, IA · Cert 15839 · Burt Bancshares Inc.

State charter, non-member · FDIC · 4 branches

Q2 2026

$109.8MAssets
$84.2MLoans
$79.7MDeposits
$30.0MEquity
Loan mix
73%RE $41.0M25%C&I $14.2M1%Consumer $0.7MQ3 2024Q2 2026
Deposit mix
75%Interest-bearing $59.5M25%Noninterest $20.1MQ3 2024Q2 2026

Executive Summary

  • Earnings: ROA of 2.28%, up 35 bps year over year; NIM at 4.95%.
  • Asset quality: problem loans at 2.14% of loans (-388 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 27.26%, up 351 bps from a year ago.
  • Funding: loans stand at 105.76% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

2.28%+35 bps YoY

Net Interest Margin (YTD, annualized)

4.95%+66 bps YoY

Efficiency Ratio (YTD, annualized)

41.35%-98 bps YoY

Tier 1 Leverage Ratio

27.26%+351 bps YoY

NIM

5.33%Q2 ’245.61%Q2 ’255.99%Q2 ’26+1%+15%

Non-interest income vs. expense

1.95%Q2 ’241.88%Q2 ’252.12%Q2 ’26-5%+13%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.90%1.88%1.86%1.93%1.99%2.03%2.17%2.28%+35 bps
Return on Equity8.73%8.67%8.39%8.56%8.70%8.71%8.52%8.73%+17 bps
Net Interest Margin4.29%4.03%4.14%4.28%4.45%4.47%4.74%4.95%+66 bps
Efficiency Ratio44.24%45.01%44.45%42.33%41.66%42.44%42.14%41.35%-98 bps
Non-Interest Burden1.81%1.73%1.75%1.72%1.76%1.80%1.90%1.94%+23 bps
Growth
Asset Growth (YoY)3.95%11.28%8.61%3.53%-2.90%-6.79%-2.66%-6.79%-1,032 bps
Loan Growth (YoY)10.20%2.82%8.56%1.56%0.40%7.40%3.38%6.08%+451 bps
Deposit Growth (YoY)2.00%11.69%7.93%1.35%-6.33%-11.48%-6.25%-11.54%-1,289 bps
Asset Quality
Nonperforming Loans / Loans1.87%2.20%5.08%6.02%3.38%2.53%2.51%2.14%-388 bps
Net Charge-Offs / Loans-0.02%-0.01%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans2.33%2.48%2.34%2.33%2.32%2.31%2.26%2.19%-13 bps
Allowance Coverage of NPLs1.2x1.1x0.5x0.4x0.7x0.9x0.9x1.0x+0.6x
Capital
Tier 1 Leverage Ratio22.95%21.88%22.85%23.74%24.77%25.01%26.01%27.26%+351 bps
Total Risk-Based Capital29.48%32.95%31.80%32.43%33.53%33.44%26.01%27.26%-517 bps
Equity / Assets21.18%21.52%22.73%23.30%23.87%25.47%25.53%27.30%+400 bps
Liquidity & Funding
Loans / Deposits83.01%78.44%87.08%88.20%88.97%95.17%96.02%105.76%+1,756 bps
Liquid Assets / Assets12.93%17.71%11.20%12.98%11.92%9.56%11.78%6.08%-690 bps
CRE / Total Capitaln/an/an/an/a117.02%114.66%105.63%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

Security State Bank

Algona, IA · Cert 15839 · Peer group: banks under $1B in assets in IA (n=134-135) · Burt Bancshares Inc.

State charter, non-member · FDIC · 4 branches

Q2 2026

$109.8MAssets
$84.2MLoans
$79.7MDeposits
$30.0MEquity

Executive Summary

  • Strongest standing: net charge-offs / loans outperforms 100% of banks under $1B in assets in IA (rank 45 of 134).
  • Widest gap: nonperforming loans / loans trails 89% of banks under $1B in assets in IA (rank 120 of 134).
  • Overall: at or above the peer median on 7 of 9 directional measures.

Return on Assets

2.33%

Rank 2 of 135

Net Interest Margin

4.95%

Rank 1 of 135

Efficiency Ratio

41.35%

Rank 11 of 135

Equity / Assets

27.30%

Rank 4 of 135

Non-interest income vs. expense

$0.2M$2.3MINCOMEEXPENSE
Unfavorable gap of $2.2M · efficiency ratio beats 93% of banks under $1B in assets in IA
Bank 41.35%Peer median 57.4%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets2.33%0.92%1.19%1.47%Beats 99%2 / 135
Return on Equity8.55%7.99%10.26%13.14%Beats 33%90 / 135
Net Interest Margin4.95%2.95%3.41%3.73%Beats 99%1 / 135
Efficiency Ratio41.35%50.61%57.35%63.29%Beats 93%11 / 135
Asset Quality
Nonperforming Loans / Loans2.14%0.03%0.51%1.26%Beats 11%120 / 134
Net Charge-Offs / Loans0.00%n/a0.01%0.03%Beats 100%45 / 134
Capital
Tier 1 Capital Ratio27.26%11.23%13.31%15.45%Beats 93%10 / 135
Total Risk-Based Capital Ratio27.26%11.61%14.06%16.47%Beats 93%10 / 135
Equity / Assets27.30%9.87%11.05%13.07%Beats 97%4 / 135
Liquidity & Funding
Loans / Deposits105.76%68.54%81.55%91.24%93rd pctl9 / 134
Loans / Assets76.70%57.61%68.06%76.23%76th pctl33 / 135
Brokered Deposits / Depositsn/aNot reported for this institution