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Letter portraitLegal landscapeQuarterYTD

First Dakota National Bank

Yankton, SD · Cert 4028 · First Dakota Financial Corp.

National charter · OCC · 17 branches

Q2 2026

$3.4BAssets
$2.9BLoans
$3.0BDeposits
$333.0MEquity
Loan mix
86%RE $2.3B13%C&I $0.3B1%Consumer $0.0BQ3 2024Q2 2026
Deposit mix
87%Interest-bearing $2.6B13%Noninterest $0.4BQ3 2024Q2 2026

Market Position · Sioux Falls, SD-MN · 2026 SOD (annual) · 0.1% share · #8 of 42 inst. · $1.2B of $1127.8B

0.2% Minnehaha
56.8% Yankton
27.7% Davison
65.8% Brule

Executive Summary

  • Earnings: ROA of 1.87%, up 52 bps year over year; NIM at 3.92%.
  • Asset quality: problem loans at 0.30% of loans (-9 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 10.40%, up 22 bps from a year ago.
  • Funding: loans stand at 97.03% of deposits as of Q2 2026.

Return on Assets (quarter, annualized)

1.87%+52 bps YoY

Net Interest Margin (quarter, annualized)

3.92%+40 bps YoY

Efficiency Ratio (quarter, annualized)

51.71%-470 bps YoY

Tier 1 Leverage Ratio

10.40%+22 bps YoY

NIM

5.45%Q2 ’245.72%Q2 ’255.91%Q2 ’26+19%+11%

Non-interest income vs. expense

2.42%Q2 ’242.56%Q2 ’252.61%Q2 ’26+8%-4%

Discrete quarter, annualized.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.04%1.38%1.17%1.35%1.44%1.54%1.49%1.87%+52 bps
Return on Equity11.52%14.97%12.63%14.32%15.04%16.06%15.54%19.13%+482 bps
Net Interest Margin3.01%3.31%3.37%3.52%3.57%3.63%3.62%3.92%+40 bps
Efficiency Ratio63.17%59.77%57.45%56.41%58.40%59.73%57.49%51.71%-470 bps
Non-Interest Burden1.49%1.52%1.43%1.54%1.61%1.70%1.56%1.47%-6 bps
Growth
Asset Growth (YoY)1.67%-0.70%3.28%6.03%8.42%11.23%9.92%10.79%+476 bps
Loan Growth (YoY)1.86%4.55%7.49%8.72%13.35%13.49%14.03%11.83%+311 bps
Deposit Growth (YoY)0.30%-1.69%2.37%5.01%7.18%8.17%9.46%8.15%+314 bps
Asset Quality
Nonperforming Loans / Loans0.64%0.44%0.49%0.40%0.37%0.36%0.39%0.30%-9 bps
Net Charge-Offs / Loans0.01%0.00%-0.05%0.00%0.00%0.16%0.00%0.00%0 bps
Allowance / Loans1.24%1.22%1.27%1.29%1.19%1.12%1.12%1.12%-17 bps
Allowance Coverage of NPLs1.9x2.8x2.6x3.2x3.2x3.1x2.9x3.7x+0.4x
Capital
Tier 1 Leverage Ratio9.90%9.95%10.12%10.18%10.27%10.05%10.18%10.40%+22 bps
Total Risk-Based Capital12.37%12.16%12.34%12.27%12.23%11.92%12.10%10.40%-187 bps
Equity / Assets9.28%9.19%9.34%9.51%9.69%9.49%9.68%9.82%+31 bps
Liquidity & Funding
Loans / Deposits90.04%92.03%91.24%93.84%95.22%96.56%95.05%97.03%+319 bps
Liquid Assets / Assets1.03%0.22%1.69%0.13%0.12%0.51%0.39%0.10%-3 bps
CRE / Total Capitaln/an/an/an/a397%402%403%n/an/a