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Warsaw Federal Savings and Loan Association

Cincinnati, OH · Cert 28217 · First Mutual Holding Co.

State savings bank · OCC · 4 affiliate banks · 1 branch (26 in holding)

Q2 2026

$108.5MAssets
$89.7MLoans
$71.9MDeposits
$11.3MEquity
Loan mix
99%RE $78.0M1%C&I $0.6M0%Consumer $0.0MQ2 2025Q2 2026
Deposit mix
92%Interest-bearing $66.5M8%Noninterest $5.4MQ2 2025Q2 2026

NIM

4.71%Q2 ’244.75%Q2 ’254.38%Q2 ’26+26%-7%

Non-interest income vs. expense

2.51%Q2 ’242.63%Q2 ’252.36%Q2 ’26+13%-11%

Market Position · Cincinnati, OH-KY-IN · 2026 SOD (annual) · 0.0% share · #39 of 54 inst. · $0.1B of $187.5B

Executive Summary

  • Earnings: ROA of -0.08%, down 6 bps year over year; NIM at 1.85%.
  • Asset quality: problem loans at 1.30% of loans (+87 bps YoY), with net charge-offs at 0.01%.
  • Capital: tier 1 leverage ratio of 12.10%, up 252 bps from a year ago.
  • Funding: loans stand at 124.74% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

-0.08%-6 bps YoY

Net Interest Margin (YTD, annualized)

1.85%-15 bps YoY

Efficiency Ratio (YTD, annualized)

100.08%-316 bps YoY

Tier 1 Leverage Ratio

12.10%+252 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets-0.02%0.02%0.11%-0.18%-0.08%-6 bps
Return on Equity-0.26%0.19%1.22%-1.58%-0.74%-48 bps
Net Interest Margin2.00%1.96%1.86%1.80%1.85%-15 bps
Efficiency Ratio103.24%101.55%96.29%106.90%100.08%-316 bps
Non-Interest Burden2.08%2.00%1.77%1.95%1.85%-23 bps
Growth
Asset Growth (YoY)-10.93%-4.64%6.73%6.54%16.25%+2,718 bps
Loan Growth (YoY)0.69%-5.24%-5.71%2.02%15.80%+1,511 bps
Deposit Growth (YoY)-0.24%-2.66%2.87%8.61%12.57%+1,280 bps
Asset Quality
Nonperforming Loans / Loans0.42%0.68%1.80%1.62%1.30%+87 bps
Net Charge-Offs / Loans0.00%0.00%0.01%0.00%0.01%+1 bps
Allowance / Loans0.64%0.64%0.67%0.64%0.58%-6 bps
Allowance Coverage of NPLs1.5x0.9x0.4x0.4x0.4x-1.1x
Capital
Tier 1 Leverage Ratio9.58%12.83%12.07%12.53%12.10%+252 bps
Total Risk-Based Capital16.96%21.42%23.41%22.19%19.50%+254 bps
Equity / Assets8.35%11.04%11.34%11.29%10.45%+210 bps
Liquidity & Funding
Loans / Deposits121.26%109.79%106.60%111.89%124.74%+348 bps
Liquid Assets / Assets1.42%11.11%13.36%6.28%3.00%+158 bps
CRE / Total Capitaln/a78.38%64.19%65.48%n/an/a