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Letter portraitLegal landscapeQuarterYTD

First National Bank of Fairfax, The

Fairfax, MN · Cert 5142 · Fort Ridgely Natl Bcorp Inc.

National charter · OCC · 1 branch

Q2 2026

$35.6MAssets
$9.8MLoans
$21.9MDeposits
$13.6MEquity
Loan mix
84%RE $4.7M15%C&I $0.8M2%Consumer $0.1MQ3 2024Q2 2026
Deposit mix
65%Interest-bearing $14.3M35%Noninterest $7.7MQ3 2024Q2 2026

Executive Summary

  • Earnings: ROA of 0.87%, down 34 bps year over year; NIM at 3.85%.
  • Asset quality: problem loans at 8.68% of loans (+587 bps YoY), with net recoveries of 0.04%.
  • Capital: tier 1 leverage ratio of 38.46%, up 213 bps from a year ago.
  • Funding: loans stand at 44.58% of deposits as of Q2 2026.

Return on Assets (quarter, annualized)

0.87%-34 bps YoY

Net Interest Margin (quarter, annualized)

3.85%-47 bps YoY

Efficiency Ratio (quarter, annualized)

70.75%+488 bps YoY

Tier 1 Leverage Ratio

38.46%+213 bps YoY

NIM

5.19%Q2 ’244.80%Q2 ’254.31%Q2 ’26-9%-11%

Non-interest income vs. expense

3.12%Q2 ’242.96%Q2 ’252.87%Q2 ’26+1%-4%

Discrete quarter, annualized.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.60%0.78%1.13%1.21%1.25%0.61%1.13%0.87%-34 bps
Return on Equity4.41%2.21%3.20%3.33%3.37%1.65%2.99%2.27%-107 bps
Net Interest Margin4.45%4.30%4.07%4.32%4.13%4.00%3.59%3.85%-47 bps
Efficiency Ratio56.21%75.29%65.92%65.88%63.61%81.84%63.01%70.75%+488 bps
Non-Interest Burden2.42%3.20%2.62%2.79%2.55%3.24%2.18%2.67%-12 bps
Growth
Asset Growth (YoY)5.28%5.26%2.81%2.18%-1.17%-6.16%-7.65%-3.99%-617 bps
Loan Growth (YoY)-2.55%2.49%-15.84%-22.92%-24.76%-33.25%-22.73%-13.05%+987 bps
Deposit Growth (YoY)5.52%5.61%2.24%1.72%-3.28%-9.40%-11.91%-6.12%-784 bps
Asset Quality
Nonperforming Loans / Loans2.30%2.14%2.52%2.81%2.80%4.29%9.52%8.68%+587 bps
Net Charge-Offs / Loans-0.03%-0.03%0.00%-0.04%-0.04%0.00%0.00%-0.04%-1 bps
Allowance / Loans2.68%2.55%3.09%3.51%3.59%3.84%4.02%4.06%+55 bps
Allowance Coverage of NPLs1.2x1.2x1.2x1.3x1.3x0.9x0.4x0.5x-0.8x
Capital
Tier 1 Leverage Ratio36.59%34.86%35.63%36.33%36.94%35.90%37.26%38.46%+213 bps
Total Risk-Based Capital36.59%34.86%35.63%36.33%36.94%35.90%37.26%38.46%+213 bps
Equity / Assets36.13%34.66%35.80%36.74%37.45%36.98%38.80%38.18%+144 bps
Liquidity & Funding
Loans / Deposits62.08%61.42%52.81%48.13%48.29%45.25%46.33%44.58%-355 bps
Liquid Assets / Assets55.47%56.14%63.06%66.38%66.00%66.13%67.64%69.70%+332 bps
CRE / Total Capitaln/an/an/an/a21.44%21.18%21.12%n/an/a