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Dogwood State Bank

Raleigh, NC · Cert 57095

FDIC · 17 branches

Q4 2025

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks $1B-$10B in assets operating regionally3

Basis

Quarter: Q4 2025, the quarter ended December 31, 2025, on both parts.

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

Balance sheet: as filed at quarter end.

Peer group

Banks $1B-$10B in assets operating regionally (n=188). 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

36

Q2 2024Q4 2025peer median (50)

Asset Quality

27

Q2 2024Q4 2025peer median (50)

Profitability

49

Q2 2024Q4 2025peer median (50)

Liquidity

0

Q2 2024Q4 2025peer median

Efficiency

32

Q2 2024Q4 2025peer 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

Dogwood State Bank

Raleigh, NC · Cert 57095

FDIC · 17 branches

Q4 2025

$2.4BAssets
$2.0BLoans
$2.0BDeposits
$255.5MEquity
Loan mix
78%RE $1.5B17%C&I $0.3B5%Consumer $0.1BQ4 2024Q4 2025
Deposit mix
74%Interest-bearing $1.4B26%Noninterest $0.5BQ4 2024Q4 2025

NIM

4.71%Q4 ’234.86%Q4 ’245.91%Q4 ’25-1%+32%

Non-interest income vs. expense

2.48%Q4 ’232.75%Q4 ’243.02%Q4 ’25+27%+13%

Market Position · Raleigh-Cary, NC · 2025 SOD (annual) · 0.8% share · #15 of 38 inst. · $0.8B of $101.6B

0.8% Wake
14.8% Oconee
0.0% Mecklenburg
4.0% Anderson

Executive Summary

  • Earnings: ROA of 0.93%, up 60 bps year over year; NIM at 3.89%.
  • Asset quality: problem loans at 1.00% of loans (+68 bps YoY), with net charge-offs at 0.32%.
  • Capital: tier 1 leverage ratio of 10.07%, up 23 bps from a year ago.
  • Funding: loans stand at 101.80% of deposits as of Q4 2025.

Financial Results

Return on Assets (YTD, annualized)

0.93%+60 bps YoY

Net Interest Margin (YTD, annualized)

3.89%+94 bps YoY

Efficiency Ratio (YTD, annualized)

64.94%-1,108 bps YoY

Tier 1 Leverage Ratio

10.07%+23 bps YoY

Year to date, annualized, through each quarter.

MetricQ4 2024Q1 2025Q2 2025Q3 2025Q4 2025YoY ΔTrend
Earnings
Return on Assets0.33%1.31%1.31%1.25%0.93%+60 bps
Return on Equity3.05%12.56%12.56%11.90%8.84%+579 bps
Net Interest Margin2.94%3.93%3.87%3.81%3.89%+94 bps
Efficiency Ratio76.02%57.53%56.80%58.14%64.94%-1,108 bps
Non-Interest Burden2.10%1.98%1.94%1.99%2.37%+26 bps
Growth
Asset Growth (YoY)54.44%58.36%56.40%6.52%7.13%-4,732 bps
Loan Growth (YoY)64.46%60.59%51.18%9.83%9.28%-5,518 bps
Deposit Growth (YoY)51.51%54.84%57.33%6.52%8.37%-4,314 bps
Asset Quality
Nonperforming Loans / Loans0.32%0.41%0.81%0.78%1.00%+68 bps
Net Charge-Offs / Loans0.14%0.10%0.19%0.18%0.32%+18 bps
Allowance / Loans1.08%1.10%1.09%1.08%1.07%-1 bps
Allowance Coverage of NPLs3.3x2.7x1.4x1.4x1.1x-2.3x
Capital
Tier 1 Leverage Ratio9.84%9.95%9.94%9.97%10.07%+23 bps
Total Risk-Based Capital12.63%12.69%13.03%12.93%12.24%-38 bps
Equity / Assets10.41%10.40%10.43%10.79%10.79%+38 bps
Liquidity & Funding
Loans / Deposits100.95%98.63%95.77%98.88%101.80%+85 bps
Liquid Assets / Assets6.67%8.01%9.25%6.83%4.85%-183 bps
CRE / Total Capitaln/an/an/a522%532%n/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

Dogwood State Bank

Raleigh, NC · Cert 57095 · Peer group: banks $1B-$10B in assets operating regionally (n=188)

FDIC · 17 branches

Q4 2025

$2.4BAssets
$2.0BLoans
$2.0BDeposits
$255.5MEquity

Executive Summary

  • Strongest standing: net interest margin outperforms 84% of banks $1B-$10B in assets operating regionally (rank 30 of 188).
  • Widest gap: brokered deposits / deposits trails 87% of banks $1B-$10B in assets operating regionally (rank 164 of 188).
  • Overall: at or above the peer median on 2 of 9 directional measures.

Return on Assets

0.91%

Rank 123 of 188

Net Interest Margin

3.89%

Rank 30 of 188

Efficiency Ratio

67.04%

Rank 129 of 188

Equity / Assets

10.79%

Rank 76 of 188

Non-interest income vs. expense

$15.3M$71.4MINCOMEEXPENSE
Unfavorable gap of $56.1M · efficiency ratio beats 32% of banks $1B-$10B in assets operating regionally
Bank 67.04%Peer median 60.7%Q2 2025Q4 2025Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets0.91%0.81%1.07%1.39%Beats 35%123 / 188
Return on Equity8.48%8.05%10.66%13.11%Beats 27%137 / 188
Net Interest Margin3.89%2.96%3.38%3.73%Beats 84%30 / 188
Efficiency Ratio67.04%53.47%60.74%69.25%Beats 32%129 / 188
Asset Quality
Nonperforming Loans / Loans1.00%0.27%0.57%1.04%Beats 27%139 / 188
Net Charge-Offs / Loansn/aNot reported for this institution
Capital
Tier 1 Capital Ratio11.11%11.27%12.41%13.94%Beats 21%148 / 188
Total Risk-Based Capital Ratio12.24%12.24%13.41%15.02%Beats 26%140 / 188
Equity / Assets10.79%9.20%10.34%11.75%Beats 60%76 / 188
Liquidity & Funding
Loans / Deposits101.80%81.05%88.67%96.26%91st pctl17 / 188
Loans / Assets84.26%68.20%74.78%80.31%91st pctl16 / 188
Brokered Deposits / Deposits12.14%n/a2.16%7.71%Beats 13%164 / 188