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First Bank & Trust

Brookings, SD · Cert 3973 · Fishback Financial Corp.

State charter, non-member · FDIC · 22 branches

Q2 2026

$4.8BAssets
$3.6BLoans
$4.2BDeposits
$539.4MEquity
Loan mix
72%RE $2.3B24%C&I $0.8B3%Consumer $0.1BQ2 2025Q2 2026
Deposit mix
83%Interest-bearing $3.5B17%Noninterest $0.7BQ2 2025Q2 2026

NIM

5.00%Q2 ’245.28%Q2 ’255.40%Q2 ’26+18%+17%

Non-interest income vs. expense

2.52%Q2 ’242.62%Q2 ’252.50%Q2 ’26+6%+1%

Market Position · Sioux Falls, SD-MN · 2026 SOD (annual) · 0.1% share · #9 of 42 inst. · $1.1B of $1127.8B

66.9% Brookings
0.2% Minnehaha
51.6% Pipestone
54.4% Grant

Executive Summary

  • Earnings: ROA of 1.30%, up 45 bps year over year; NIM at 3.57%.
  • Asset quality: problem loans at 0.42% of loans (+20 bps YoY), with net recoveries of 0.01%.
  • Capital: tier 1 leverage ratio of 10.37%, up 33 bps from a year ago.
  • Funding: loans stand at 85.70% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.30%+45 bps YoY

Net Interest Margin (quarter, annualized)

3.57%+52 bps YoY

Efficiency Ratio (quarter, annualized)

57.31%-803 bps YoY

Tier 1 Leverage Ratio

10.37%+33 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.85%1.11%1.19%1.30%1.30%+45 bps
Return on Equity7.99%10.20%10.68%11.72%11.71%+373 bps
Net Interest Margin3.05%3.24%3.31%3.45%3.57%+52 bps
Efficiency Ratio65.34%60.92%60.93%60.66%57.31%-803 bps
Non-Interest Burden1.74%1.66%1.69%1.78%1.75%+1 bps
Growth
Asset Growth (YoY)1.14%0.69%0.27%1.73%0.77%-36 bps
Loan Growth (YoY)-2.33%-2.86%-2.25%-0.72%2.54%+487 bps
Deposit Growth (YoY)6.68%2.93%3.20%4.25%2.77%-391 bps
Asset Quality
Nonperforming Loans / Loans0.21%0.36%0.30%0.43%0.42%+20 bps
Net Charge-Offs / Loans0.04%0.12%0.09%0.05%-0.01%-6 bps
Allowance / Loans1.24%1.25%1.24%1.26%1.25%+1 bps
Allowance Coverage of NPLs5.9x3.5x4.2x2.9x3.0x-2.9x
Capital
Tier 1 Leverage Ratio10.04%10.24%10.21%10.49%10.37%+33 bps
Total Risk-Based Capital10.04%10.24%10.21%10.49%10.37%+33 bps
Equity / Assets10.82%10.99%11.26%10.99%11.27%+45 bps
Liquidity & Funding
Loans / Deposits85.89%86.17%85.16%81.61%85.70%-19 bps
Liquid Assets / Assets15.01%15.08%13.88%16.63%12.61%-241 bps
CRE / Total Capitaln/a334%329%318%n/an/a