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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 $0.2MQ3 2024Q2 2026
Deposit mix
86%Interest-bearing $123.2M14%Noninterest $19.8MQ3 2024Q2 2026

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

Executive Summary

  • Earnings: ROA of 0.77%, up 11 bps year over year; NIM at 2.54%.
  • 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.

Return on Assets (quarter, annualized)

0.77%+11 bps YoY

Net Interest Margin (quarter, annualized)

2.54%+25 bps YoY

Efficiency Ratio (quarter, annualized)

57.74%-913 bps YoY

Tier 1 Leverage Ratio

9.72%+50 bps YoY

NIM

4.04%Q2 ’244.14%Q2 ’254.21%Q2 ’26+25%+11%

Non-interest income vs. expense

1.87%Q2 ’241.78%Q2 ’251.78%Q2 ’26+7%-12%

Discrete quarter, annualized.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.29%0.58%0.53%0.65%0.69%0.70%0.96%0.77%+11 bps
Return on Equity4.55%8.87%8.18%9.41%9.36%9.20%12.43%9.76%+35 bps
Net Interest Margin1.91%2.03%2.10%2.29%2.25%2.38%2.47%2.54%+25 bps
Efficiency Ratio76.13%69.95%71.99%66.88%66.13%65.27%61.23%57.74%-913 bps
Non-Interest Burden1.36%1.30%1.41%1.41%1.32%1.42%1.34%1.24%-16 bps
Growth
Asset Growth (YoY)8.35%4.90%0.46%-1.00%-0.62%2.36%-0.91%-0.55%+45 bps
Loan Growth (YoY)15.47%12.47%7.74%9.71%5.93%5.46%3.62%6.68%-303 bps
Deposit Growth (YoY)5.90%8.92%-0.70%-5.83%-1.26%-2.57%-2.02%2.03%+786 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%1.92%2.45%+245 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.01%0.00%0.00%0.00%0.00%-1 bps
Allowance / Loans1.35%1.30%1.28%1.30%1.32%1.31%1.26%1.40%+9 bps
Allowance Coverage of NPLsn/a475.5x472.5xn/an/an/a0.7x0.6xn/a
Capital
Tier 1 Leverage Ratio9.21%9.14%9.17%9.22%9.50%9.44%9.74%9.72%+50 bps
Total Risk-Based Capital13.02%13.48%13.05%13.55%13.53%13.72%13.92%14.53%+98 bps
Equity / Assets6.47%6.59%6.37%7.56%7.14%8.14%7.37%8.38%+82 bps
Liquidity & Funding
Loans / Deposits43.40%50.13%45.06%53.16%46.56%54.27%47.65%55.58%+242 bps
Liquid Assets / Assets11.89%0.88%10.64%0.23%8.98%0.41%8.62%0.48%+26 bps
CRE / Total Capitaln/an/an/an/a166.63%165.64%169.98%n/an/a