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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=176). 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

34

Q2 2024Q2 2026peer median (50)

Asset Quality

73

Q2 2024Q2 2026peer median (50)

Profitability

41

Q2 2024Q2 2026peer median (50)

Liquidity

87

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 2026-10-11

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 2026-10-11

Forward Bank

Marshfield, WI · Cert 28530 · Peer group: banks $1B-$10B in assets operating regionally (n=176) · 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 80% of banks $1B-$10B in assets operating regionally (rank 36 of 176).
  • Widest gap: efficiency ratio trails 85% of banks $1B-$10B in assets operating regionally (rank 151 of 176).
  • Overall: at or above the peer median on 3 of 9 directional measures.

Return on Assets

0.86%

Rank 143 of 176

Net Interest Margin

3.98%

Rank 36 of 176

Efficiency Ratio

74.14%

Rank 151 of 176

Equity / Assets

9.25%

Rank 129 of 176

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 59.6%Q2 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets0.86%0.93%1.26%1.54%Beats 19%143 / 176
Return on Equity9.24%9.26%11.89%14.46%Beats 24%133 / 176
Net Interest Margin3.98%3.25%3.59%3.93%Beats 80%36 / 176
Efficiency Ratio74.14%52.79%59.55%67.66%Beats 15%151 / 176
Asset Quality
Nonperforming Loans / Loans0.28%0.30%0.64%1.32%Beats 78%39 / 176
Net Charge-Offs / Loans0.02%0.01%0.04%0.10%Beats 67%59 / 176
Capital
Tier 1 Capital Ratio11.85%11.15%12.72%14.15%Beats 38%109 / 176
Total Risk-Based Capital Ratio12.83%11.81%13.63%15.33%Beats 37%111 / 176
Equity / Assets9.25%9.16%10.35%11.80%Beats 27%129 / 176
Liquidity & Funding
Loans / Deposits91.34%80.94%89.73%97.21%57th pctl76 / 176
Loans / Assets73.82%69.25%75.12%80.82%44th pctl98 / 176
Brokered Deposits / Depositsn/aNot reported for this institution