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Bankwest, Incorporated

Pierre, SD · Cert 4009 · South Dakota Bancshares Inc.

State charter, non-member · FDIC · 22 branches

Q2 2026

$1.9BAssets
$1.4BLoans
$1.6BDeposits
$159.9MEquity
Loan mix
77%RE $825.1M11%C&I $113.8M12%Consumer $127.2MQ2 2025Q2 2026
Deposit mix
83%Interest-bearing $1.4B17%Noninterest $0.3BQ2 2025Q2 2026

NIM

5.93%Q2 ’245.48%Q2 ’255.68%Q2 ’26-12%+13%

Non-interest income vs. expense

3.62%Q2 ’243.71%Q2 ’253.87%Q2 ’26+3%+6%

Market Position · Rapid City, SD · 2026 SOD (annual) · 2.6% share · #9 of 11 inst. · $0.1B of $3.9B

40.2% Hughes
10.4% Davison
46.0% Gregory
67.2% Sully

Executive Summary

  • Earnings: ROA of 0.73%, up 24 bps year over year; NIM at 3.72%.
  • Asset quality: problem loans at 2.76% of loans (-80 bps YoY), with net recoveries of 0.07%.
  • Capital: tier 1 leverage ratio of 9.21%, up 3 bps from a year ago.
  • Funding: loans stand at 85.60% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

0.73%+24 bps YoY

Net Interest Margin (quarter, annualized)

3.72%+43 bps YoY

Efficiency Ratio (quarter, annualized)

80.14%-457 bps YoY

Tier 1 Leverage Ratio

9.21%+3 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.48%0.69%0.96%0.65%0.73%+24 bps
Return on Equity6.20%8.80%11.88%7.92%8.89%+269 bps
Net Interest Margin3.28%3.57%3.84%3.57%3.72%+43 bps
Efficiency Ratio84.71%79.82%73.34%79.42%80.14%-457 bps
Non-Interest Burden2.65%2.67%2.55%2.64%2.80%+15 bps
Growth
Asset Growth (YoY)4.38%4.88%4.74%5.97%5.53%+115 bps
Loan Growth (YoY)11.87%12.67%10.75%7.42%8.20%-367 bps
Deposit Growth (YoY)6.64%3.22%5.08%8.75%10.65%+401 bps
Asset Quality
Nonperforming Loans / Loans3.56%3.49%1.54%2.16%2.76%-80 bps
Net Charge-Offs / Loans0.07%0.01%0.00%0.00%-0.07%-14 bps
Allowance / Loans1.09%1.06%1.06%1.09%1.08%-1 bps
Allowance Coverage of NPLs0.3x0.3x0.7x0.5x0.4x+0.1x
Capital
Tier 1 Leverage Ratio9.17%9.13%9.19%9.00%9.21%+3 bps
Total Risk-Based Capital11.03%11.05%11.17%11.66%11.57%+53 bps
Equity / Assets7.80%7.96%8.24%8.10%8.26%+46 bps
Liquidity & Funding
Loans / Deposits87.54%85.02%86.42%83.70%85.60%-194 bps
Liquid Assets / Assets2.18%1.72%1.63%1.61%1.51%-67 bps
CRE / Total Capitaln/a273%267%274%n/an/a