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Forward Bank

Marshfield, WI · Cert 28530 · Forward Mutual Holding Co.

SI · FDIC · 15 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks $1B-$10B in assets operating regionally3

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 $1B-$10B in assets operating regionally (n=178). 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

33

Q2 2024Q2 2026peer median (50)

Asset Quality

72

Q2 2024Q2 2026peer median (50)

Profitability

42

Q2 2024Q2 2026peer median (50)

Liquidity

89

Q2 2024Q2 2026peer median

Efficiency

15

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 2026-10-10

Forward Bank

Marshfield, WI · Cert 28530 · Forward Mutual Holding Co.

SI · FDIC · 15 branches

Q2 2026

$1.3BAssets
$947.1MLoans
$1.0BDeposits
$118.7MEquity
Loan mix
80%RE $659.5M17%C&I $136.1M3%Consumer $26.4MQ2 2025Q2 2026
Deposit mix
75%Interest-bearing $779.0M25%Noninterest $257.9MQ2 2025Q2 2026

NIM

4.64%Q2 ’245.14%Q2 ’255.30%Q2 ’26+21%+7%

Non-interest income vs. expense

3.24%Q2 ’243.47%Q2 ’253.70%Q2 ’26+41%+10%

Market Position · Wausau, WI · 2026 SOD (annual) · 1.7% share · #11 of 17 inst. · $0.1B of $5.4B

12.3% Wood
37.0% Clark
46.1% Price
17.0% Taylor

Executive Summary

  • Earnings: ROA of 0.90%, up 1 bps year over year; NIM at 3.98%.
  • Asset quality: problem loans at 0.28% of loans (-11 bps YoY), with net charge-offs at 0.02%.
  • Capital: tier 1 leverage ratio of 9.18%, up 45 bps from a year ago.
  • Funding: loans stand at 91.34% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.90%+1 bps YoY

Net Interest Margin (YTD, annualized)

3.98%+26 bps YoY

Efficiency Ratio (YTD, annualized)

72.98%+115 bps YoY

Tier 1 Leverage Ratio

9.18%+45 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.89%0.95%0.94%0.92%0.90%+1 bps
Return on Equity10.32%10.86%10.69%9.93%9.68%-63 bps
Net Interest Margin3.72%3.76%3.78%4.02%3.98%+26 bps
Efficiency Ratio71.83%71.86%72.77%71.25%72.98%+115 bps
Non-Interest Burden2.40%2.43%2.49%2.61%2.64%+23 bps
Growth
Asset Growth (YoY)4.06%1.97%5.28%9.25%14.09%+1,003 bps
Loan Growth (YoY)5.76%5.51%7.37%9.55%13.91%+815 bps
Deposit Growth (YoY)4.85%2.19%4.42%5.66%9.46%+461 bps
Asset Quality
Nonperforming Loans / Loans0.39%0.39%0.39%0.33%0.28%-11 bps
Net Charge-Offs / Loans0.04%0.03%0.02%0.03%0.02%-2 bps
Allowance / Loans0.99%0.97%0.96%0.96%0.96%-4 bps
Allowance Coverage of NPLs2.5x2.5x2.5x2.9x3.4x+0.9x
Capital
Tier 1 Leverage Ratio8.73%8.82%8.63%9.36%9.18%+45 bps
Total Risk-Based Capital12.18%12.71%12.26%13.20%12.83%+65 bps
Equity / Assets8.88%9.17%8.91%9.63%9.25%+37 bps
Liquidity & Funding
Loans / Deposits87.77%87.40%86.98%89.12%91.34%+357 bps
Liquid Assets / Assets0.20%0.34%0.34%0.25%0.26%+6 bps
CRE / Total Capitaln/a210%223%204%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 2026-10-10

Forward Bank

Marshfield, WI · Cert 28530 · Peer group: banks $1B-$10B in assets operating regionally (n=178) · Forward Mutual Holding Co.

SI · FDIC · 15 branches

Q2 2026

$1.3BAssets
$947.1MLoans
$1.0BDeposits
$118.7MEquity

Executive Summary

  • Strongest standing: net interest margin outperforms 81% of banks $1B-$10B in assets operating regionally (rank 34 of 178).
  • Widest gap: efficiency ratio trails 85% of banks $1B-$10B in assets operating regionally (rank 153 of 178).
  • Overall: at or above the peer median on 3 of 9 directional measures.

Return on Assets

0.86%

Rank 141 of 178

Net Interest Margin

3.98%

Rank 34 of 178

Efficiency Ratio

74.14%

Rank 153 of 178

Equity / Assets

9.25%

Rank 129 of 178

Non-interest income vs. expense

$13.4M$46.6MINCOMEEXPENSE
Unfavorable gap of $33.2M · efficiency ratio beats 15% of banks $1B-$10B in assets operating regionally
Bank 74.14%Peer median 58.9%Q2 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets0.86%0.91%1.25%1.53%Beats 21%141 / 178
Return on Equity9.24%9.18%11.89%14.44%Beats 25%133 / 178
Net Interest Margin3.98%3.22%3.56%3.91%Beats 81%34 / 178
Efficiency Ratio74.14%52.04%58.90%67.10%Beats 15%153 / 178
Asset Quality
Nonperforming Loans / Loans0.28%0.29%0.60%1.26%Beats 78%41 / 178
Net Charge-Offs / Loans0.02%0.01%0.03%0.10%Beats 65%63 / 178
Capital
Tier 1 Capital Ratio11.85%11.19%12.72%14.14%Beats 37%113 / 178
Total Risk-Based Capital Ratio12.83%11.91%13.63%15.33%Beats 35%115 / 178
Equity / Assets9.25%9.12%10.35%11.80%Beats 28%129 / 178
Liquidity & Funding
Loans / Deposits91.34%80.94%89.92%97.12%56th pctl79 / 178
Loans / Assets73.82%69.25%75.52%80.96%44th pctl100 / 178
Brokered Deposits / Depositsn/aNot reported for this institution