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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