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Charlevoix State Bank

Charlevoix, MI · Cert 33926 · Charlevoix First Corp.

State charter, non-member · FDIC · 7 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets3

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 (n=581 to 629). 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

61

Q2 2024Q2 2026peer median (50)

Asset Quality

82

Q2 2024Q2 2026peer median (50)

Profitability

87

Q2 2024Q2 2026peer median (50)

Liquidity

35

Q2 2024Q2 2026peer median

Efficiency

78

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

Charlevoix State Bank

Charlevoix, MI · Cert 33926 · Charlevoix First Corp.

State charter, non-member · FDIC · 7 branches

Q2 2026

$248.3MAssets
$131.9MLoans
$221.0MDeposits
$24.1MEquity
Loan mix
86%RE $107.7M10%C&I $12.4M4%Consumer $5.5MQ2 2025Q2 2026
Deposit mix
59%Interest-bearing $129.5M41%Noninterest $91.5MQ2 2025Q2 2026

NIM

3.94%Q2 ’244.33%Q2 ’254.87%Q2 ’26+20%+17%

Non-interest income vs. expense

2.56%Q2 ’242.76%Q2 ’253.08%Q2 ’26+6%+10%

Executive Summary

  • Earnings: ROA of 1.82%, up 34 bps year over year; NIM at 4.36%.
  • Asset quality: problem loans at 0.22% of loans (-40 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 10.41%, down 22 bps from a year ago.
  • Funding: loans stand at 59.71% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.82%+34 bps YoY

Net Interest Margin (YTD, annualized)

4.36%+63 bps YoY

Efficiency Ratio (YTD, annualized)

56.92%-237 bps YoY

Tier 1 Leverage Ratio

10.41%-22 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.48%1.60%1.65%1.63%1.82%+34 bps
Return on Equity15.99%17.20%17.45%16.50%18.47%+248 bps
Net Interest Margin3.73%3.67%3.90%4.24%4.36%+63 bps
Efficiency Ratio59.29%59.05%59.13%58.89%56.92%-237 bps
Non-Interest Burden1.83%1.71%1.84%2.15%2.02%+19 bps
Growth
Asset Growth (YoY)-4.89%2.70%0.41%3.56%2.31%+719 bps
Loan Growth (YoY)3.75%3.16%5.21%5.70%7.74%+398 bps
Deposit Growth (YoY)-0.91%1.34%-1.29%3.11%1.84%+275 bps
Asset Quality
Nonperforming Loans / Loans0.62%0.60%0.63%0.31%0.22%-40 bps
Net Charge-Offs / Loans0.02%0.02%0.02%0.00%0.00%-3 bps
Allowance / Loans1.23%1.23%1.15%1.15%1.13%-10 bps
Allowance Coverage of NPLs2.0x2.0x1.8x3.7x5.1x+3.1x
Capital
Tier 1 Leverage Ratio10.63%10.02%10.31%10.43%10.41%-22 bps
Total Risk-Based Capital20.61%20.33%19.54%19.62%19.51%-110 bps
Equity / Assets9.40%9.41%10.01%9.79%9.69%+29 bps
Liquidity & Funding
Loans / Deposits56.44%54.95%60.88%59.60%59.71%+327 bps
Liquid Assets / Assets15.00%13.38%8.17%11.72%14.38%-62 bps
CRE / Total Capitaln/a187.30%199.49%208%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

Charlevoix State Bank

Charlevoix, MI · Cert 33926 · Peer group: banks under $1B in assets (n=581-629) · Charlevoix First Corp.

State charter, non-member · FDIC · 7 branches

Q2 2026

$248.3MAssets
$131.9MLoans
$221.0MDeposits
$24.1MEquity

Executive Summary

  • Strongest standing: net charge-offs / loans outperforms 100% of banks under $1B in assets (rank 158 of 581).
  • Widest gap: equity / assets trails 64% of banks under $1B in assets (rank 405 of 629).
  • Overall: at or above the peer median on 8 of 9 directional measures.

Return on Assets

1.79%

Rank 95 of 629

Net Interest Margin

4.36%

Rank 88 of 629

Efficiency Ratio

56.92%

Rank 142 of 629

Equity / Assets

9.69%

Rank 405 of 629

Non-interest income vs. expense

$2.6M$7.5MINCOMEEXPENSE
Unfavorable gap of $4.9M · efficiency ratio beats 78% of banks under $1B in assets
Bank 56.92%Peer median 67.8%Q2 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets1.79%0.60%1.01%1.45%Beats 85%95 / 629
Return on Equity18.44%5.38%9.30%13.28%Beats 91%55 / 629
Net Interest Margin4.36%3.03%3.54%4.05%Beats 86%88 / 629
Efficiency Ratio56.92%58.35%67.79%79.08%Beats 78%142 / 629
Asset Quality
Nonperforming Loans / Loans0.22%0.09%0.46%1.20%Beats 64%213 / 581
Net Charge-Offs / Loans0.00%n/a0.01%0.06%Beats 100%158 / 581
Capital
Tier 1 Capital Ratio18.39%11.24%13.84%18.77%Beats 73%168 / 629
Total Risk-Based Capital Ratio19.51%11.58%14.43%19.66%Beats 75%159 / 629
Equity / Assets9.69%9.09%10.65%13.80%Beats 36%405 / 629
Liquidity & Funding
Loans / Deposits59.71%67.24%80.90%93.48%18th pctl489 / 594
Loans / Assets53.13%53.31%67.71%78.15%25th pctl474 / 629
Brokered Deposits / Depositsn/aNot reported for this institution