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Gary State Bank, The

Gary, MN · Cert 16472

FDIC · 1 branch

Q2 2023

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q2 2023, the quarter ended June 30, 2023, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

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

Gary State Bank, The

Gary, MN · Cert 16472

FDIC · 1 branch

Q2 2023

$17.4MAssets
$11.1MLoans
$14.8MDeposits
$2.3MEquity
Loan mix
66%RE $5.0M21%C&I $1.6M14%Consumer $1.1MQ2 2022Q2 2023
Deposit mix
64%Interest-bearing $9.4M36%Noninterest $5.3MQ2 2022Q2 2023

NIM

5.01%Q2 ’213.76%Q2 ’225.07%Q2 ’23-25%+32%

Non-interest income vs. expense

3.23%Q2 ’213.25%Q2 ’223.02%Q2 ’23+1%-4%

Executive Summary

  • Earnings: ROA of 1.74%, up 93 bps year over year; NIM at 4.73%.
  • Asset quality: problem loans at 0.00% of loans (-2 bps YoY), with net recoveries of 0.04%.
  • Capital: tier 1 leverage ratio of 12.34%, up 26 bps from a year ago.
  • Funding: loans stand at 75.45% of deposits as of Q2 2023.

Financial Results

Return on Assets (YTD, annualized)

1.74%+93 bps YoY

Net Interest Margin (YTD, annualized)

4.73%+114 bps YoY

Efficiency Ratio (YTD, annualized)

57.08%-1,865 bps YoY

Tier 1 Leverage Ratio

12.34%+26 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2022Q3 2022Q4 2022Q1 2023Q2 2023YoY ΔTrend
Earnings
Return on Assets0.81%1.05%1.17%1.55%1.74%+93 bps
Return on Equity6.54%8.55%9.44%13.69%14.66%+812 bps
Net Interest Margin3.59%3.76%3.62%4.31%4.73%+114 bps
Efficiency Ratio75.73%69.92%68.53%59.07%57.08%-1,865 bps
Non-Interest Burden2.55%2.41%2.26%2.31%2.45%-9 bps
Growth
Asset Growth (YoY)1.64%7.22%4.09%18.62%-1.10%-274 bps
Loan Growth (YoY)2.53%5.60%5.84%-1.49%-0.99%-353 bps
Deposit Growth (YoY)2.59%8.90%4.89%22.22%-2.96%-554 bps
Asset Quality
Nonperforming Loans / Loans0.02%0.06%0.06%0.00%0.00%-2 bps
Net Charge-Offs / Loans-0.04%-0.02%-0.03%-0.08%-0.04%0 bps
Allowance / Loans2.73%2.66%2.86%2.93%2.78%+5 bps
Allowance Coverage of NPLs153.5x43.9x51.3xn/an/an/a
Capital
Tier 1 Leverage Ratio12.08%12.41%11.71%11.20%12.34%+26 bps
Total Risk-Based Capital20.34%20.44%22.92%22.45%22.38%+204 bps
Equity / Assets12.00%12.02%12.46%10.34%13.05%+105 bps
Liquidity & Funding
Loans / Deposits73.96%73.01%68.26%56.90%75.45%+149 bps
Liquid Assets / Assets31.96%33.17%38.33%44.91%32.36%+40 bps
CRE / Total Capitaln/an/an/an/an/an/an/a