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American Federal Bank

Fargo, ND · Cert 29140 · American Federal Corp.

State savings bank · OCC · 13 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B 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 under $1B in assets operating regionally (n=94). 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

48

Q2 2024Q2 2026peer median (50)

Asset Quality

94

Q2 2024Q2 2026peer median (50)

Profitability

35

Q2 2024Q2 2026peer median (50)

Liquidity

0

Q2 2024Q2 2026peer median

Efficiency

23

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

American Federal Bank

Fargo, ND · Cert 29140 · American Federal Corp.

State savings bank · OCC · 13 branches

Q2 2026

$795.8MAssets
$685.2MLoans
$615.6MDeposits
$71.3MEquity
Loan mix
95%RE $516.5M4%C&I $19.5M1%Consumer $5.8MQ3 2024Q2 2026
Deposit mix
83%Interest-bearing $512.9M17%Noninterest $102.7MQ3 2024Q2 2026

Market Position · Grand Forks, ND-MN · 2026 SOD (annual) · 6.0% share · #8 of 21 inst. · $0.2B of $3.9B

19.1% Polk
1.2% Cass
28.2% Kittson
2.8% Otter Tail

Executive Summary

  • Earnings: ROA of 0.83%, up 2 bps year over year; NIM at 3.83%.
  • Asset quality: problem loans at 0.00% of loans (-2 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 9.32%, down 46 bps from a year ago.
  • Funding: loans stand at 111.32% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

0.83%+2 bps YoY

Net Interest Margin (YTD, annualized)

3.83%+11 bps YoY

Efficiency Ratio (YTD, annualized)

74.11%-43 bps YoY

Tier 1 Leverage Ratio

9.32%-46 bps YoY

NIM

5.28%Q2 ’245.61%Q2 ’255.50%Q2 ’26+12%+3%

Non-interest income vs. expense

3.13%Q2 ’243.13%Q2 ’253.22%Q2 ’26-2%+2%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.47%0.52%0.75%0.81%0.89%0.88%0.71%0.83%+2 bps
Return on Equity5.82%6.26%8.45%9.03%9.70%9.74%8.02%9.39%+36 bps
Net Interest Margin3.21%3.14%3.53%3.73%3.71%3.58%3.71%3.83%+11 bps
Efficiency Ratio81.40%79.62%75.90%74.54%72.68%72.26%78.13%74.11%-43 bps
Non-Interest Burden2.53%2.41%2.58%2.66%2.56%2.45%2.81%2.71%+5 bps
Growth
Asset Growth (YoY)10.11%6.32%3.74%-3.55%-5.33%-1.51%-0.81%3.67%+722 bps
Loan Growth (YoY)12.19%8.06%3.62%-3.72%-5.35%-3.12%-1.94%3.88%+759 bps
Deposit Growth (YoY)0.40%0.78%5.72%5.75%3.34%3.26%-0.14%-0.36%-611 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.14%0.02%0.02%0.01%0.07%0.00%-2 bps
Net Charge-Offs / Loans0.00%0.00%-0.01%0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans0.98%1.01%1.04%1.06%1.06%1.04%1.06%1.04%-2 bps
Allowance Coverage of NPLs457.9x410.9x7.3x56.1x64.5x74.3x15.3xn/an/a
Capital
Tier 1 Leverage Ratio8.48%8.74%9.15%9.77%9.95%8.87%9.06%9.32%-46 bps
Total Risk-Based Capital12.78%13.21%14.02%14.74%14.98%13.46%14.18%14.17%-57 bps
Equity / Assets8.24%8.57%9.09%9.42%9.71%8.58%9.04%8.96%-46 bps
Liquidity & Funding
Loans / Deposits121.58%113.13%107.58%106.77%111.35%106.14%105.64%111.32%+454 bps
Liquid Assets / Assets0.05%0.03%0.10%0.03%0.03%0.05%0.08%0.03%0 bps
CRE / Total Capitaln/an/an/an/a269%291%288%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

American Federal Bank

Fargo, ND · Cert 29140 · Peer group: banks under $1B in assets operating regionally (n=94) · American Federal Corp.

State savings bank · OCC · 13 branches

Q2 2026

$795.8MAssets
$685.2MLoans
$615.6MDeposits
$71.3MEquity

Executive Summary

  • Strongest standing: nonperforming loans / loans outperforms 100% of banks under $1B in assets operating regionally (rank 6 of 94).
  • Widest gap: equity / assets trails 77% of banks under $1B in assets operating regionally (rank 72 of 94).
  • Overall: at or above the peer median on 5 of 9 directional measures.

Return on Assets

0.82%

Rank 72 of 94

Net Interest Margin

3.83%

Rank 45 of 94

Efficiency Ratio

74.11%

Rank 73 of 94

Equity / Assets

8.96%

Rank 72 of 94

Non-interest income vs. expense

$4.0M$25.1MINCOMEEXPENSE
Unfavorable gap of $21.1M · efficiency ratio beats 23% of banks under $1B in assets operating regionally
Bank 74.11%Peer median 62.4%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets0.82%0.82%1.19%1.46%Beats 23%72 / 94
Return on Equity9.11%7.85%11.84%14.03%Beats 30%66 / 94
Net Interest Margin3.83%3.42%3.81%4.18%Beats 52%45 / 94
Efficiency Ratio74.11%55.99%62.41%73.02%Beats 23%73 / 94
Asset Quality
Nonperforming Loans / Loans0.00%0.19%0.47%1.14%Beats 100%6 / 94
Net Charge-Offs / Loans0.00%0.00%0.02%0.05%Beats 87%17 / 94
Capital
Tier 1 Capital Ratio12.92%10.28%11.95%15.07%Beats 60%38 / 94
Total Risk-Based Capital Ratio14.17%10.31%12.59%15.88%Beats 61%37 / 94
Equity / Assets8.96%8.98%10.21%11.41%Beats 23%72 / 94
Liquidity & Funding
Loans / Deposits111.32%72.62%84.44%94.55%97th pctl3 / 94
Loans / Assets86.10%62.50%72.84%78.99%91st pctl8 / 94
Brokered Deposits / Depositsn/aNot reported for this institution