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Morganton Savings Bank, S.S.B.

Morganton, NC · Cert 30434

SI · FDIC · 1 branch

Q2 2026

$114.4MAssets
$68.2MLoans
$77.7MDeposits
$28.3MEquity
Loan mix
100%RE $66.4M0%C&I $0.0M0%Consumer $0.0MQ2 2025Q2 2026
Deposit mix
87%Interest-bearing $67.5M13%Noninterest $10.2MQ2 2025Q2 2026

NIM

6.26%Q2 ’244.33%Q2 ’254.32%Q2 ’26-37%-2%

Non-interest income vs. expense

2.76%Q2 ’243.04%Q2 ’253.08%Q2 ’26+11%+0%

Market Position · Hickory-Lenoir-Morganton, NC · 2026 SOD (annual) · 1.1% share · #11 of 15 inst. · $0.1B of $6.8B

Executive Summary

  • Earnings: ROA of 0.40%, down 7 bps year over year; NIM at 3.37%.
  • Asset quality: problem loans at 0.21% of loans (-15 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 25.43%, down 188 bps from a year ago.
  • Funding: loans stand at 87.77% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

0.40%-7 bps YoY

Net Interest Margin (quarter, annualized)

3.37%-6 bps YoY

Efficiency Ratio (quarter, annualized)

88.50%+192 bps YoY

Tier 1 Leverage Ratio

25.43%-188 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.47%0.61%-0.50%0.20%0.40%-7 bps
Return on Equity1.76%2.33%-1.88%0.74%1.58%-18 bps
Net Interest Margin3.43%3.38%3.30%3.18%3.37%-6 bps
Efficiency Ratio86.58%82.24%122.06%94.39%88.50%+192 bps
Non-Interest Burden2.96%2.77%3.93%2.99%2.97%+1 bps
Growth
Asset Growth (YoY)-3.53%2.69%1.92%4.56%6.18%+971 bps
Loan Growth (YoY)-2.62%-2.12%-1.54%-1.79%2.32%+493 bps
Deposit Growth (YoY)0.58%3.36%1.75%6.21%9.01%+843 bps
Asset Quality
Nonperforming Loans / Loans0.37%0.27%0.25%0.27%0.21%-15 bps
Net Charge-Offs / Loans0.00%0.00%0.01%0.00%0.00%0 bps
Allowance / Loans3.58%3.55%3.60%3.59%3.50%-8 bps
Allowance Coverage of NPLs9.8x13.0x14.6x13.5x16.5x+6.7x
Capital
Tier 1 Leverage Ratio27.31%27.11%26.94%26.55%25.43%-188 bps
Total Risk-Based Capital27.31%27.11%26.94%26.55%25.43%-188 bps
Equity / Assets26.21%26.57%26.53%26.20%24.70%-150 bps
Liquidity & Funding
Loans / Deposits93.52%95.93%94.10%91.95%87.77%-574 bps
Liquid Assets / Assets18.31%17.54%19.38%21.18%24.96%+665 bps
CRE / Total Capitaln/a74.97%77.15%79.48%n/an/a