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Boone Bank & Trust Co.

Boone, IA · Cert 33552 · Ames National Corp.

State charter, non-member · FDIC · 5 affiliate banks · 2 branches (19 in holding)

Q2 2026

$156.9MAssets
$79.5MLoans
$143.0MDeposits
$13.2MEquity
Loan mix
89%RE $55.9M10%C&I $6.5M0%Consumer $0.2MQ2 2025Q2 2026
Deposit mix
86%Interest-bearing $123.2M14%Noninterest $19.8MQ2 2025Q2 2026

NIM

3.81%Q2 ’244.04%Q2 ’254.14%Q2 ’26+26%+14%

Non-interest income vs. expense

1.72%Q2 ’241.78%Q2 ’251.77%Q2 ’26+6%-9%

Market Position · Ames, IA · 2026 SOD (annual) · 3.7% share · #9 of 26 inst. · $0.1B of $3.8B

Executive Summary

  • Earnings: ROA of 0.88%, up 28 bps year over year; NIM at 2.50%.
  • Asset quality: problem loans at 2.45% of loans (+245 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 9.72%, up 50 bps from a year ago.
  • Funding: loans stand at 55.58% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.88%+28 bps YoY

Net Interest Margin (YTD, annualized)

2.50%+30 bps YoY

Efficiency Ratio (YTD, annualized)

59.44%-991 bps YoY

Tier 1 Leverage Ratio

9.72%+50 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.60%0.62%0.65%0.96%0.88%+28 bps
Return on Equity8.83%9.02%9.09%12.43%11.05%+223 bps
Net Interest Margin2.19%2.25%2.26%2.47%2.50%+30 bps
Efficiency Ratio69.34%68.24%67.47%61.23%59.44%-991 bps
Non-Interest Burden1.41%1.40%1.39%1.34%1.28%-12 bps
Growth
Asset Growth (YoY)-1.00%-0.62%2.36%-0.91%-0.55%+45 bps
Loan Growth (YoY)9.71%5.93%5.46%3.62%6.68%-303 bps
Deposit Growth (YoY)-5.83%-1.26%-2.57%-2.02%2.03%+786 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%1.92%2.45%+245 bps
Net Charge-Offs / Loans0.01%0.00%0.00%0.00%0.00%-1 bps
Allowance / Loans1.30%1.32%1.31%1.26%1.40%+9 bps
Allowance Coverage of NPLsn/an/an/a0.7x0.6xn/a
Capital
Tier 1 Leverage Ratio9.22%9.50%9.44%9.74%9.72%+50 bps
Total Risk-Based Capital13.55%13.53%13.72%13.92%14.53%+98 bps
Equity / Assets7.56%7.14%8.14%7.37%8.38%+82 bps
Liquidity & Funding
Loans / Deposits53.16%46.56%54.27%47.65%55.58%+242 bps
Liquid Assets / Assets0.23%8.98%0.41%8.62%0.48%+26 bps
CRE / Total Capitaln/a166.63%165.64%169.98%n/an/a