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Sturgis Bank & Trust Company

Sturgis, MI · Cert 28593 · Sturgis Bcorp Inc.

State charter, non-member · FDIC · 17 branches

Q2 2026

$1.0BAssets
$768.8MLoans
$893.0MDeposits
$83.8MEquity
Loan mix
94%RE $742.6M4%C&I $33.8M2%Consumer $12.8MQ2 2025Q2 2026
Deposit mix
80%Interest-bearing $717.5M20%Noninterest $175.5MQ2 2025Q2 2026

NIM

4.94%Q2 ’245.13%Q2 ’255.09%Q2 ’26+14%+4%

Non-interest income vs. expense

2.99%Q2 ’243.23%Q2 ’253.24%Q2 ’26+13%+3%

Market Position · Niles, MI · 2026 SOD (annual) · 11.9% share · #4 of 8 inst. · $0.3B of $2.2B

34.6% St. Joseph
11.9% Berrien
19.5% Van Buren
1.5% Kalamazoo

Executive Summary

  • Earnings: ROA of 1.15%, up 30 bps year over year; NIM at 3.61%.
  • Asset quality: problem loans at 0.92% of loans (+19 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 8.63%, up 63 bps from a year ago.
  • Funding: loans stand at 86.09% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.15%+30 bps YoY

Net Interest Margin (quarter, annualized)

3.61%+14 bps YoY

Efficiency Ratio (quarter, annualized)

73.27%-106 bps YoY

Tier 1 Leverage Ratio

8.63%+63 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.85%1.04%1.00%0.90%1.15%+30 bps
Return on Equity11.47%13.97%13.03%11.61%14.42%+296 bps
Net Interest Margin3.48%3.42%3.54%3.53%3.61%+14 bps
Efficiency Ratio74.33%71.18%75.45%73.69%73.27%-106 bps
Non-Interest Burden2.35%2.15%2.40%2.35%2.42%+7 bps
Growth
Asset Growth (YoY)4.50%5.36%4.42%5.81%4.55%+5 bps
Loan Growth (YoY)3.40%3.98%1.56%2.98%-2.77%-617 bps
Deposit Growth (YoY)10.22%10.59%9.71%7.82%1.19%-903 bps
Asset Quality
Nonperforming Loans / Loans0.72%1.31%1.32%1.28%0.92%+19 bps
Net Charge-Offs / Loans0.00%-0.05%-0.01%0.01%0.00%0 bps
Allowance / Loans1.17%1.16%1.14%1.14%1.10%-7 bps
Allowance Coverage of NPLs1.6x0.9x0.9x0.9x1.2x-0.4x
Capital
Tier 1 Leverage Ratio8.00%7.85%8.11%8.05%8.63%+63 bps
Total Risk-Based Capital12.37%12.54%12.69%12.70%13.34%+96 bps
Equity / Assets7.38%7.55%7.77%7.78%8.15%+77 bps
Liquidity & Funding
Loans / Deposits89.60%88.98%88.87%87.93%86.09%-350 bps
Liquid Assets / Assets4.48%5.25%4.93%6.04%6.97%+248 bps
CRE / Total Capitaln/a328%320%318%n/an/a