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State Bank of Bellingham

Bellingham, MN · Cert 17062 · Bellingham Corp. the

State charter, non-member · FDIC · 1 branch

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets in MN3

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 MN (n=111 to 113). 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

82

Q2 2024Q2 2026peer median (50)

Asset Quality

57

Q2 2024Q2 2026peer median (50)

Profitability

3

Q2 2024Q2 2026peer median (50)

Liquidity

37

Q2 2024Q2 2026peer median

Efficiency

5

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

State Bank of Bellingham

Bellingham, MN · Cert 17062 · Bellingham Corp. the

State charter, non-member · FDIC · 1 branch

Q2 2026

$46.4MAssets
$22.6MLoans
$38.4MDeposits
$5.4MEquity
Loan mix
81%RE $16.2M5%C&I $1.0M14%Consumer $2.7MQ3 2024Q2 2026
Deposit mix
89%Interest-bearing $34.3M11%Noninterest $4.1MQ3 2024Q2 2026

Executive Summary

  • Earnings: ROA of 0.17%, up 5 bps year over year; NIM at 1.99%.
  • Asset quality: problem loans at 2.50% of loans (+141 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 14.81%, up 140 bps from a year ago.
  • Funding: loans stand at 58.84% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

0.17%+5 bps YoY

Net Interest Margin (YTD, annualized)

1.99%+22 bps YoY

Efficiency Ratio (YTD, annualized)

88.64%-285 bps YoY

Tier 1 Leverage Ratio

14.81%+140 bps YoY

NIM

4.84%Q2 ’244.72%Q2 ’254.58%Q2 ’26-8%+12%

Non-interest income vs. expense

1.66%Q2 ’241.64%Q2 ’251.65%Q2 ’26-12%+10%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.23%0.46%0.08%0.12%0.15%0.15%0.20%0.17%+5 bps
Return on Equity2.72%5.18%0.92%1.34%1.63%1.61%1.92%1.60%+26 bps
Net Interest Margin1.93%2.24%1.81%1.77%1.97%1.95%1.92%1.99%+22 bps
Efficiency Ratio84.94%74.43%94.24%91.49%89.47%89.70%86.01%88.64%-285 bps
Non-Interest Burden1.62%1.65%1.70%1.62%1.77%1.75%1.65%1.78%+16 bps
Growth
Asset Growth (YoY)-1.11%-6.67%-0.13%-6.53%-7.96%-2.34%-8.66%-5.36%+118 bps
Loan Growth (YoY)-2.77%-5.17%-6.48%-7.40%-11.14%-9.77%-12.37%-13.67%-626 bps
Deposit Growth (YoY)-0.52%-2.11%5.08%-4.11%-5.93%-2.66%-9.49%-5.46%-135 bps
Asset Quality
Nonperforming Loans / Loans1.39%0.08%1.15%1.09%0.05%0.05%2.20%2.50%+141 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans1.03%1.06%1.11%1.12%1.16%1.18%1.27%1.30%+18 bps
Allowance Coverage of NPLs0.7x14.0x1.0x1.0x22.6x24.5x0.6x0.5x-0.5x
Capital
Tier 1 Leverage Ratio13.35%13.94%13.17%13.40%14.48%14.29%14.26%14.81%+140 bps
Total Risk-Based Capital20.82%22.63%20.44%23.22%24.08%22.71%23.85%25.34%+212 bps
Equity / Assets9.14%9.58%8.79%9.25%10.12%10.23%10.39%11.72%+247 bps
Liquidity & Funding
Loans / Deposits67.61%65.96%59.61%64.44%63.87%61.15%57.71%58.84%-559 bps
Liquid Assets / Assets25.85%26.63%25.36%27.58%27.98%26.79%27.30%29.09%+150 bps
CRE / Total Capitaln/an/an/an/a119.29%120.03%119.11%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

State Bank of Bellingham

Bellingham, MN · Cert 17062 · Peer group: banks under $1B in assets in MN (n=111-113) · Bellingham Corp. the

State charter, non-member · FDIC · 1 branch

Q2 2026

$46.4MAssets
$22.6MLoans
$38.4MDeposits
$5.4MEquity

Executive Summary

  • Strongest standing: net charge-offs / loans outperforms 100% of banks under $1B in assets in MN (rank 36 of 111).
  • Widest gap: net interest margin trails 100% of banks under $1B in assets in MN (rank 113 of 113).
  • Overall: at or above the peer median on 4 of 9 directional measures.

Return on Assets

0.18%

Rank 108 of 113

Net Interest Margin

1.99%

Rank 113 of 113

Efficiency Ratio

88.64%

Rank 108 of 113

Equity / Assets

11.72%

Rank 34 of 113

Non-interest income vs. expense

-$62K$796KINCOMEEXPENSE
Unfavorable gap of $858K · efficiency ratio beats 5% of banks under $1B in assets in MN
Bank 88.64%Peer median 61.5%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets0.18%0.87%1.20%1.41%Beats 4%108 / 113
Return on Equity1.53%8.92%11.27%13.99%Beats 4%109 / 113
Net Interest Margin1.99%3.42%3.88%4.31%Beats 0%113 / 113
Efficiency Ratio88.64%54.13%61.48%69.86%Beats 5%108 / 113
Asset Quality
Nonperforming Loans / Loans2.50%0.09%0.58%1.82%Beats 13%98 / 111
Net Charge-Offs / Loans0.00%n/a0.00%0.04%Beats 100%36 / 111
Capital
Tier 1 Capital Ratio24.33%11.53%13.31%18.13%Beats 88%14 / 113
Total Risk-Based Capital Ratio25.34%12.12%14.43%19.39%Beats 87%15 / 113
Equity / Assets11.72%8.52%10.10%11.94%Beats 70%34 / 113
Liquidity & Funding
Loans / Deposits58.84%62.08%77.32%88.06%18th pctl91 / 111
Loans / Assets48.79%55.01%66.35%75.50%15th pctl96 / 113
Brokered Deposits / Depositsn/aNot reported for this institution