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Heartland State Bank

Edgeley, ND · Cert 3919 · JBS Inc.

State charter, non-member · FDIC · 2 branches

Q2 2026

$75.6MAssets
$29.4MLoans
$68.3MDeposits
$6.8MEquity
Loan mix
76%RE $13.6M12%C&I $2.1M12%Consumer $2.2MQ2 2025Q2 2026
Deposit mix
70%Interest-bearing $47.7M30%Noninterest $20.6MQ2 2025Q2 2026

NIM

5.36%Q2 ’244.94%Q2 ’254.30%Q2 ’26-11%-14%

Non-interest income vs. expense

3.48%Q2 ’242.49%Q2 ’252.25%Q2 ’26-29%-10%

Executive Summary

  • Earnings: ROA of 0.69%, down 10 bps year over year; NIM at 2.81%.
  • Asset quality: problem loans at 3.36% of loans (+60 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 9.75%, down 75 bps from a year ago.
  • Funding: loans stand at 43.10% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

0.69%-10 bps YoY

Net Interest Margin (quarter, annualized)

2.81%-45 bps YoY

Efficiency Ratio (quarter, annualized)

74.75%+302 bps YoY

Tier 1 Leverage Ratio

9.75%-75 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.79%0.66%0.67%0.36%0.69%-10 bps
Return on Equity8.92%7.06%7.18%4.07%7.81%-111 bps
Net Interest Margin3.26%3.19%3.16%2.66%2.81%-45 bps
Efficiency Ratio71.73%74.26%75.50%82.35%74.75%+302 bps
Non-Interest Burden2.27%2.31%2.32%2.15%2.04%-23 bps
Growth
Asset Growth (YoY)11.00%9.22%13.22%10.25%6.36%-464 bps
Loan Growth (YoY)-4.67%-15.03%-14.21%-14.39%-13.13%-846 bps
Deposit Growth (YoY)11.29%10.18%14.43%10.39%6.41%-488 bps
Asset Quality
Nonperforming Loans / Loans2.76%3.22%3.01%3.46%3.36%+60 bps
Net Charge-Offs / Loans0.00%0.01%0.00%0.04%0.00%0 bps
Allowance / Loans1.33%1.38%1.32%1.53%1.52%+19 bps
Allowance Coverage of NPLs0.5x0.4x0.4x0.4x0.5x0.0x
Capital
Tier 1 Leverage Ratio10.50%10.82%10.40%9.86%9.75%-75 bps
Total Risk-Based Capital10.50%10.82%10.40%9.86%9.75%-75 bps
Equity / Assets9.02%9.64%9.11%8.59%9.05%+3 bps
Liquidity & Funding
Loans / Deposits52.79%52.56%52.32%41.48%43.10%-969 bps
Liquid Assets / Assets12.86%11.92%10.96%24.68%20.29%+743 bps
CRE / Total Capitaln/a28.53%28.96%28.27%n/an/a