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Midwest Heritage Bank, FSB

West Des Moines, IA · Cert 4432 · Hy-Vee Inc.

State savings bank · OCC · 13 branches

Q2 2026

$768.3MAssets
$529.9MLoans
$649.6MDeposits
$92.9MEquity
Loan mix
78%RE $287.8M10%C&I $36.3M12%Consumer $45.5MQ2 2025Q2 2026
Deposit mix
81%Interest-bearing $527.4M19%Noninterest $122.2MQ2 2025Q2 2026

NIM

5.16%Q2 ’245.30%Q2 ’254.85%Q2 ’26+6%+3%

Non-interest income vs. expense

5.23%Q2 ’244.98%Q2 ’254.47%Q2 ’26-77%+437%

Market Position · Des Moines-West Des Moines, IA · 2026 SOD (annual) · 0.7% share · #23 of 57 inst. · $0.3B of $38.0B

0.8% Polk
16.7% Carroll
66.0% Lucas
0.6% Story

Executive Summary

  • Earnings: ROA of 1.75%, down 56 bps year over year; NIM at 3.50%.
  • Asset quality: problem loans at 1.78% of loans (+167 bps YoY), with net charge-offs at 0.01%.
  • Capital: tier 1 leverage ratio of 12.82%, down 45 bps from a year ago.
  • Funding: loans stand at 81.57% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.75%-56 bps YoY

Net Interest Margin (YTD, annualized)

3.50%+10 bps YoY

Efficiency Ratio (YTD, annualized)

65.77%+452 bps YoY

Tier 1 Leverage Ratio

12.82%-45 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets2.30%2.02%1.90%0.93%1.75%-56 bps
Return on Equity18.63%15.85%14.69%6.66%13.26%-537 bps
Net Interest Margin3.40%3.45%3.48%3.68%3.50%+10 bps
Efficiency Ratio61.24%64.51%66.13%81.74%65.77%+452 bps
Non-Interest Burden0.25%0.69%0.89%2.47%1.32%+108 bps
Growth
Asset Growth (YoY)5.77%2.35%-1.99%0.09%56.32%+5,054 bps
Loan Growth (YoY)3.34%5.75%4.38%4.87%41.99%+3,865 bps
Deposit Growth (YoY)-1.25%-2.40%0.55%4.79%79.27%+8,052 bps
Asset Quality
Nonperforming Loans / Loans0.11%1.26%1.58%1.64%1.78%+167 bps
Net Charge-Offs / Loans0.04%0.04%0.03%0.02%0.01%-2 bps
Allowance / Loans1.04%1.00%0.98%1.01%1.51%+47 bps
Allowance Coverage of NPLs9.9x0.8x0.6x0.6x0.8x-9.0x
Capital
Tier 1 Leverage Ratio13.27%13.64%14.08%14.10%12.82%-45 bps
Total Risk-Based Capital17.99%17.45%17.50%18.48%15.81%-218 bps
Equity / Assets13.05%13.84%13.91%14.13%12.10%-95 bps
Liquidity & Funding
Loans / Deposits102.99%113.29%110.52%96.19%81.57%-2,142 bps
Liquid Assets / Assets3.80%2.25%1.55%4.47%7.31%+351 bps
CRE / Total Capitaln/a126.28%125.59%115.68%n/an/a