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First Bank

Waverly, IA · Cert 4519 · First of Waverly Corp.

State charter, Fed member · FED · 8 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets operating in a single state3

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 operating in a single state (n=743 to 746). 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

75

Q2 2024Q2 2026peer median (50)

Asset Quality

56

Q2 2024Q2 2026peer median (50)

Profitability

62

Q2 2024Q2 2026peer median (50)

Liquidity

41

Q2 2024Q2 2026peer median

Efficiency

89

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 Bank

Waverly, IA · Cert 4519 · First of Waverly Corp.

State charter, Fed member · FED · 8 branches

Q2 2026

$739.9MAssets
$564.9MLoans
$619.8MDeposits
$96.6MEquity
Loan mix
86%RE $377.7M13%C&I $56.1M2%Consumer $7.0MQ2 2025Q2 2026
Deposit mix
82%Interest-bearing $508.7M18%Noninterest $111.1MQ2 2025Q2 2026

NIM

4.45%Q2 ’244.94%Q2 ’255.23%Q2 ’26+22%+13%

Non-interest income vs. expense

1.75%Q2 ’241.78%Q2 ’251.90%Q2 ’26+2%+4%

Market Position · Waterloo-Cedar Falls, IA · 2026 SOD (annual) · 10.8% share · #3 of 23 inst. · $0.5B of $4.7B

37.7% Bremer
4.4% Black Hawk
19.7% Wright

Executive Summary

  • Earnings: ROA of 1.54%, up 35 bps year over year; NIM at 3.59%.
  • Asset quality: problem loans at 0.54% of loans (-5 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 12.72%, up 99 bps from a year ago.
  • Funding: loans stand at 91.15% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.54%+35 bps YoY

Net Interest Margin (YTD, annualized)

3.59%+42 bps YoY

Efficiency Ratio (YTD, annualized)

47.98%-285 bps YoY

Tier 1 Leverage Ratio

12.72%+99 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.18%1.22%1.24%1.46%1.54%+35 bps
Return on Equity10.42%10.59%10.57%11.64%12.11%+169 bps
Net Interest Margin3.17%3.26%3.32%3.56%3.59%+42 bps
Efficiency Ratio50.83%51.11%51.81%48.66%47.98%-285 bps
Non-Interest Burden1.44%1.49%1.54%1.53%1.50%+6 bps
Growth
Asset Growth (YoY)1.56%0.47%-0.73%0.01%1.80%+25 bps
Loan Growth (YoY)6.86%7.29%5.10%5.87%7.07%+20 bps
Deposit Growth (YoY)1.57%-4.48%-2.48%-0.85%3.07%+150 bps
Asset Quality
Nonperforming Loans / Loans0.59%0.73%0.59%0.54%0.54%-5 bps
Net Charge-Offs / Loans0.00%0.01%0.01%0.00%0.00%0 bps
Allowance / Loans1.15%1.15%1.20%1.19%1.22%+7 bps
Allowance Coverage of NPLs2.0x1.6x2.0x2.2x2.3x+0.3x
Capital
Tier 1 Leverage Ratio11.73%11.99%12.15%12.48%12.72%+99 bps
Total Risk-Based Capital18.07%17.92%18.29%18.19%18.63%+56 bps
Equity / Assets11.89%12.17%12.52%12.51%13.05%+116 bps
Liquidity & Funding
Loans / Deposits87.75%93.42%90.30%89.99%91.15%+340 bps
Liquid Assets / Assets0.62%0.69%0.41%1.60%0.66%+4 bps
CRE / Total Capitaln/a156.49%153.00%147.79%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 Bank

Waverly, IA · Cert 4519 · Peer group: banks under $1B in assets operating in a single state (n=743-746) · First of Waverly Corp.

State charter, Fed member · FED · 8 branches

Q2 2026

$739.9MAssets
$564.9MLoans
$619.8MDeposits
$96.6MEquity

Executive Summary

  • Strongest standing: efficiency ratio outperforms 89% of banks under $1B in assets operating in a single state (rank 80 of 746).
  • Widest gap: nonperforming loans / loans trails 55% of banks under $1B in assets operating in a single state (rank 413 of 743).
  • Overall: at or above the peer median on 7 of 9 directional measures.

Return on Assets

1.54%

Rank 158 of 746

Net Interest Margin

3.59%

Rank 409 of 746

Efficiency Ratio

47.98%

Rank 80 of 746

Equity / Assets

13.05%

Rank 188 of 746

Non-interest income vs. expense

$3.0M$14.2MINCOMEEXPENSE
Unfavorable gap of $11.2M · efficiency ratio beats 89% of banks under $1B in assets operating in a single state
Bank 47.98%Peer median 64.6%Q2 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets1.54%0.72%1.06%1.45%Beats 79%158 / 746
Return on Equity11.76%6.74%10.51%13.63%Beats 61%289 / 746
Net Interest Margin3.59%3.17%3.68%4.16%Beats 45%409 / 746
Efficiency Ratio47.98%55.74%64.58%75.47%Beats 89%80 / 746
Asset Quality
Nonperforming Loans / Loans0.54%0.09%0.42%1.07%Beats 45%413 / 743
Net Charge-Offs / Loans0.00%0.00%0.01%0.05%Beats 67%246 / 743
Capital
Tier 1 Capital Ratio17.38%11.55%13.75%17.60%Beats 74%197 / 746
Total Risk-Based Capital Ratio18.63%11.71%14.33%18.43%Beats 76%179 / 746
Equity / Assets13.05%8.90%10.51%13.06%Beats 75%188 / 746
Liquidity & Funding
Loans / Deposits91.15%61.31%78.27%90.78%76th pctl180 / 746
Loans / Assets76.35%53.60%66.97%76.08%76th pctl182 / 746
Brokered Deposits / Depositsn/aNot reported for this institution