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State Bank & Trust of Kenmare

Kenmare, ND · Cert 2057 · Jorgenson Holding Co.

State charter, non-member · FDIC · 1 affiliate bank · 3 branches (6 in holding)

Q2 2026

$201.1MAssets
$84.6MLoans
$182.8MDeposits
$14.7MEquity
Loan mix
73%RE $53.0M24%C&I $17.2M3%Consumer $2.5MQ2 2025Q2 2026
Deposit mix
86%Interest-bearing $157.7M14%Noninterest $25.1MQ2 2025Q2 2026

NIM

4.46%Q2 ’244.49%Q2 ’254.27%Q2 ’26+17%+3%

Non-interest income vs. expense

1.75%Q2 ’241.70%Q2 ’251.46%Q2 ’26-2%-20%

Market Position · Minot, ND · 2026 SOD (annual) · 4.9% share · #8 of 14 inst. · $0.2B of $3.7B

Executive Summary

  • Earnings: ROA of 1.04%, up 35 bps year over year; NIM at 2.61%.
  • Asset quality: problem loans at 1.10% of loans (+110 bps YoY), with net recoveries of 0.01%.
  • Capital: tier 1 leverage ratio of 9.25%, up 10 bps from a year ago.
  • Funding: loans stand at 46.29% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.04%+35 bps YoY

Net Interest Margin (quarter, annualized)

2.61%+8 bps YoY

Efficiency Ratio (quarter, annualized)

51.97%-1,251 bps YoY

Tier 1 Leverage Ratio

9.25%+10 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.69%0.68%0.25%0.75%1.04%+35 bps
Return on Equity11.95%10.34%3.60%10.89%14.76%+281 bps
Net Interest Margin2.53%2.64%2.52%2.50%2.61%+8 bps
Efficiency Ratio64.47%63.63%84.88%60.52%51.97%-1,251 bps
Non-Interest Burden1.65%1.70%2.17%1.52%1.33%-33 bps
Growth
Asset Growth (YoY)5.33%8.66%8.92%7.30%10.61%+529 bps
Loan Growth (YoY)13.05%7.59%5.87%-0.99%-6.52%-1,957 bps
Deposit Growth (YoY)5.04%9.36%7.31%5.94%9.56%+452 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.03%0.02%1.10%+110 bps
Net Charge-Offs / Loans-0.01%0.02%0.01%-0.08%-0.01%0 bps
Allowance / Loans0.96%0.99%1.04%1.10%1.11%+14 bps
Allowance Coverage of NPLsn/an/a35.3x46.7x1.0xn/a
Capital
Tier 1 Leverage Ratio9.14%9.28%9.16%9.05%9.25%+10 bps
Total Risk-Based Capital15.87%15.84%16.88%17.18%17.78%+192 bps
Equity / Assets6.14%6.92%7.11%6.76%7.31%+117 bps
Liquidity & Funding
Loans / Deposits54.25%53.52%50.51%47.02%46.29%-796 bps
Liquid Assets / Assets0.36%0.07%0.05%0.06%0.07%-29 bps
CRE / Total Capitaln/a104.73%99.69%98.13%n/an/a