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First Heritage Bank

Shenandoah, IA · Cert 4457 · First National Bcorp

State charter, Fed member · FED · 2 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets in IA3

Basis

Quarter: Q2 2026, the quarter ended June 30, 2026, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

Banks under $1B in assets in IA (n=134 to 135). Each measure ranks only the institutions that reported it, so n varies by measure.

Peer groups below the disclosure floor are suppressed.

Peer standing

Capital

13

Q2 2024Q2 2026peer median (50)

Asset Quality

100

Q2 2024Q2 2026peer median (50)

Profitability

84

Q2 2024Q2 2026peer median (50)

Liquidity

42

Q2 2024Q2 2026peer median

Efficiency

72

Q2 2024Q2 2026peer median (50)

Growth

No peer data yet

Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

First Heritage Bank

Shenandoah, IA · Cert 4457 · First National Bcorp

State charter, Fed member · FED · 2 branches

Q2 2026

$72.1MAssets
$55.9MLoans
$59.9MDeposits
$7.0MEquity
Loan mix
82%RE $37.7M14%C&I $6.6M3%Consumer $1.4MQ3 2024Q2 2026
Deposit mix
80%Interest-bearing $47.9M20%Noninterest $12.0MQ3 2024Q2 2026

Executive Summary

  • Earnings: ROA of 1.49%, up 34 bps year over year; NIM at 4.09%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 10.21%, up 71 bps from a year ago.
  • Funding: loans stand at 93.35% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

1.49%+34 bps YoY

Net Interest Margin (YTD, annualized)

4.09%+54 bps YoY

Efficiency Ratio (YTD, annualized)

51.82%-607 bps YoY

Tier 1 Leverage Ratio

10.21%+71 bps YoY

NIM

4.99%Q2 ’245.48%Q2 ’255.82%Q2 ’26+12%+15%

Non-interest income vs. expense

2.38%Q2 ’242.13%Q2 ’252.19%Q2 ’26-10%+2%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.80%0.80%1.07%1.15%1.26%1.26%1.51%1.49%+34 bps
Return on Equity10.00%9.95%13.06%13.65%14.46%14.24%15.72%15.45%+181 bps
Net Interest Margin3.18%3.11%3.32%3.55%3.66%3.69%4.07%4.09%+54 bps
Efficiency Ratio68.23%68.60%59.21%57.89%55.32%56.43%51.00%51.82%-607 bps
Non-Interest Burden2.12%2.09%1.92%2.01%1.97%2.02%2.00%2.05%+5 bps
Growth
Asset Growth (YoY)-0.13%8.39%10.14%8.32%7.07%1.93%3.31%3.79%-453 bps
Loan Growth (YoY)18.07%14.47%11.15%10.38%6.96%6.65%5.03%5.96%-442 bps
Deposit Growth (YoY)6.62%7.39%10.77%-0.32%0.63%0.49%2.13%3.15%+347 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans1.09%1.11%1.14%1.13%1.15%1.18%1.24%1.23%+10 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ratio9.49%9.15%9.03%9.50%9.89%9.85%10.20%10.21%+71 bps
Total Risk-Based Capital13.48%13.38%9.03%9.50%9.89%9.85%10.20%10.21%+71 bps
Equity / Assets8.60%8.07%8.37%8.80%9.50%9.54%9.67%9.66%+86 bps
Liquidity & Funding
Loans / Deposits88.72%87.92%86.95%90.88%94.31%93.31%89.42%93.35%+247 bps
Liquid Assets / Assets0.70%1.97%1.31%1.79%0.22%0.22%0.22%0.23%-156 bps
CRE / Total Capitaln/an/an/an/a172.63%158.09%146.40%n/an/a

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas. Income-statement figures are year-to-date as filed, annualized (the UBPR convention). Each quarter includes the ones before it.

CallReports · callreports.ai· Performance TrendsGenerated 2026-10-11

First Heritage Bank

Shenandoah, IA · Cert 4457 · Peer group: banks under $1B in assets in IA (n=134-135) · First National Bcorp

State charter, Fed member · FED · 2 branches

Q2 2026

$72.1MAssets
$55.9MLoans
$59.9MDeposits
$7.0MEquity

Executive Summary

  • Strongest standing: nonperforming loans / loans outperforms 100% of banks under $1B in assets in IA (rank 21 of 134).
  • Widest gap: total risk-based capital ratio trails 93% of banks under $1B in assets in IA (rank 125 of 135).
  • Overall: at or above the peer median on 6 of 9 directional measures.

Return on Assets

1.47%

Rank 35 of 135

Net Interest Margin

4.09%

Rank 13 of 135

Efficiency Ratio

51.82%

Rank 39 of 135

Equity / Assets

9.66%

Rank 105 of 135

Non-interest income vs. expense

$0.1M$1.6MINCOMEEXPENSE
Unfavorable gap of $1.5M · efficiency ratio beats 72% of banks under $1B in assets in IA
Bank 51.82%Peer median 57.4%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets1.47%0.92%1.19%1.47%Beats 74%35 / 135
Return on Equity15.23%7.99%10.26%13.14%Beats 87%17 / 135
Net Interest Margin4.09%2.95%3.41%3.73%Beats 90%13 / 135
Efficiency Ratio51.82%50.61%57.35%63.29%Beats 72%39 / 135
Asset Quality
Nonperforming Loans / Loans0.00%0.03%0.51%1.26%Beats 100%21 / 134
Net Charge-Offs / Loans0.00%n/a0.01%0.03%Beats 100%45 / 134
Capital
Tier 1 Capital Ratio10.21%11.23%13.31%15.45%Beats 10%122 / 135
Total Risk-Based Capital Ratio10.21%11.61%14.06%16.47%Beats 7%125 / 135
Equity / Assets9.66%9.87%11.05%13.07%Beats 22%105 / 135
Liquidity & Funding
Loans / Deposits93.35%68.54%81.55%91.24%78th pctl30 / 134
Loans / Assets77.49%57.61%68.06%76.23%79th pctl29 / 135
Brokered Deposits / Depositsn/aNot reported for this institution