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Security State Bank of Aitkin

Aitkin, MN · Cert 16656 · Security St Agency Aitkin Inc.

State charter, non-member · FDIC · 1 affiliate bank · 4 branches (6 in holding)

Q2 2026

$114.5MAssets
$57.1MLoans
$106.7MDeposits
$6.3MEquity
Loan mix
75%RE $40.8M21%C&I $11.3M4%Consumer $2.0MQ3 2024Q2 2026
Deposit mix
66%Interest-bearing $70.5M34%Noninterest $36.2MQ3 2024Q2 2026

Executive Summary

  • Earnings: ROA of 0.74%, down 5 bps year over year; NIM at 3.71%.
  • Asset quality: problem loans at 2.24% of loans (+224 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 10.79%, down 158 bps from a year ago.
  • Funding: loans stand at 53.53% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

0.74%-5 bps YoY

Net Interest Margin (YTD, annualized)

3.71%-1 bps YoY

Efficiency Ratio (YTD, annualized)

75.50%+108 bps YoY

Tier 1 Leverage Ratio

10.79%-158 bps YoY

NIM

4.33%Q2 ’244.81%Q2 ’254.73%Q2 ’26+4%0%

Non-interest income vs. expense

2.72%Q2 ’242.91%Q2 ’252.94%Q2 ’26+8%+1%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.80%0.78%0.87%0.79%0.85%0.79%0.67%0.74%-5 bps
Return on Equity14.76%14.69%15.67%13.58%14.84%13.74%11.64%13.05%-53 bps
Net Interest Margin3.52%3.41%3.72%3.72%3.64%3.69%3.65%3.71%-1 bps
Efficiency Ratio71.51%72.79%72.03%74.41%72.78%74.59%77.85%75.50%+108 bps
Non-Interest Burden2.46%2.42%2.63%2.72%2.60%2.70%2.81%2.76%+3 bps
Growth
Asset Growth (YoY)3.82%-0.37%5.24%6.69%1.18%2.00%-0.79%2.15%-455 bps
Loan Growth (YoY)2.65%4.65%10.95%6.80%15.24%15.07%8.20%13.56%+676 bps
Deposit Growth (YoY)-1.50%-1.16%4.55%4.17%2.53%1.19%-0.32%3.20%-97 bps
Asset Quality
Nonperforming Loans / Loans0.13%0.01%0.00%0.00%1.20%2.52%2.34%2.24%+224 bps
Net Charge-Offs / Loans0.02%0.11%0.00%0.00%0.00%0.02%0.00%0.00%0 bps
Allowance / Loans2.53%2.36%2.18%2.19%2.11%2.03%2.00%1.91%-28 bps
Allowance Coverage of NPLs19.5x183.7xn/an/a1.7x0.8x0.9x0.9xn/a
Capital
Tier 1 Leverage Ratio13.07%12.51%12.73%12.37%10.48%10.69%10.88%10.79%-158 bps
Total Risk-Based Capital13.07%12.51%12.73%12.37%10.48%10.69%10.88%10.79%-158 bps
Equity / Assets6.51%5.06%5.99%6.36%5.39%5.89%5.62%5.50%-86 bps
Liquidity & Funding
Loans / Deposits44.41%45.24%49.22%48.65%49.91%51.45%53.43%53.53%+488 bps
Liquid Assets / Assets8.14%9.95%6.16%6.58%7.90%6.96%5.07%6.35%-23 bps
CRE / Total Capitaln/an/an/an/a216%229%243%n/an/a