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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 2.36%, up 35 bps year over year; NIM at 5.03%.
  • 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 (quarter, annualized)

2.36%+35 bps YoY

Net Interest Margin (quarter, annualized)

5.03%+67 bps YoY

Efficiency Ratio (quarter, annualized)

40.59%+29 bps YoY

Tier 1 Leverage Ratio

27.26%+351 bps YoY

NIM

5.47%Q2 ’245.72%Q2 ’256.06%Q2 ’26+4%+15%

Non-interest income vs. expense

1.95%Q2 ’241.83%Q2 ’252.12%Q2 ’26-8%+17%

Discrete quarter, annualized.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.84%1.81%1.86%2.01%2.11%2.16%2.17%2.36%+35 bps
Return on Equity8.58%8.47%8.39%8.73%8.96%8.75%8.52%8.95%+22 bps
Net Interest Margin4.33%4.12%4.14%4.36%4.60%4.66%4.74%5.03%+67 bps
Efficiency Ratio44.31%47.24%44.45%40.30%40.38%44.62%42.14%40.59%+29 bps
Non-Interest Burden1.82%1.85%1.75%1.65%1.76%1.99%1.90%1.93%+28 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 / Loans0.00%0.00%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