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1st Security Bank of Washington

Mountlake Terrace, WA · Cert 57633 · FS Bcorp Inc.

SI · FDIC · 30 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks $1B-$10B in assets3

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 $1B-$10B in assets (n=322 to 328). 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

53

Q2 2024Q2 2026peer median (50)

Asset Quality

28

Q2 2024Q2 2026peer median (50)

Profitability

53

Q2 2024Q2 2026peer median (50)

Liquidity

0

Q2 2024Q2 2026peer median

Efficiency

33

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

1st Security Bank of Washington

Mountlake Terrace, WA · Cert 57633 · FS Bcorp Inc.

SI · FDIC · 30 branches

Q2 2026

$3.2BAssets
$2.7BLoans
$2.5BDeposits
$362.9MEquity
Loan mix
70%RE $1.9B8%C&I $0.2B22%Consumer $0.6BQ2 2025Q2 2026
Deposit mix
73%Interest-bearing $1.8B27%Noninterest $0.7BQ2 2025Q2 2026

NIM

6.11%Q2 ’246.09%Q2 ’256.20%Q2 ’26-2%+2%

Non-interest income vs. expense

3.17%Q2 ’243.20%Q2 ’253.16%Q2 ’26+34%-3%

Market Position · Seattle-Tacoma-Bellevue, WA · 2026 SOD (annual) · 0.8% share · #14 of 43 inst. · $1.1B of $143.1B

4.0% Snohomish
18.5% Grays Harbor
9.3% Clallam
25.0% Jefferson

Executive Summary

  • Earnings: ROA of 1.09%, up 1 bps year over year; NIM at 4.20%.
  • Asset quality: problem loans at 0.58% of loans (-13 bps YoY), with net charge-offs at 0.44%.
  • Capital: tier 1 leverage ratio of 11.44%, up 26 bps from a year ago.
  • Funding: loans stand at 109.14% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.09%+1 bps YoY

Net Interest Margin (YTD, annualized)

4.20%+9 bps YoY

Efficiency Ratio (YTD, annualized)

63.06%-236 bps YoY

Tier 1 Leverage Ratio

11.44%+26 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.08%1.13%1.14%1.08%1.09%+1 bps
Return on Equity9.80%10.29%10.35%9.77%9.81%+1 bps
Net Interest Margin4.10%4.10%4.13%4.15%4.20%+9 bps
Efficiency Ratio65.42%64.01%63.22%63.16%63.06%-236 bps
Non-Interest Burden2.55%2.48%2.45%2.47%2.48%-7 bps
Growth
Asset Growth (YoY)7.98%8.03%5.53%4.48%0.09%-789 bps
Loan Growth (YoY)4.95%4.87%5.35%5.81%0.85%-411 bps
Deposit Growth (YoY)6.85%10.45%14.06%0.97%-3.96%-1,082 bps
Asset Quality
Nonperforming Loans / Loans0.71%0.69%0.69%0.67%0.58%-13 bps
Net Charge-Offs / Loans0.22%0.34%0.33%0.32%0.44%+23 bps
Allowance / Loans1.21%1.13%1.18%1.20%1.16%-5 bps
Allowance Coverage of NPLs1.7x1.6x1.7x1.8x2.0x+0.3x
Capital
Tier 1 Leverage Ratio11.18%10.96%10.96%11.16%11.44%+26 bps
Total Risk-Based Capital14.06%13.81%13.96%13.81%14.01%-5 bps
Equity / Assets10.86%10.82%10.94%11.08%11.42%+56 bps
Liquidity & Funding
Loans / Deposits103.94%98.77%100.28%102.06%109.14%+520 bps
Liquid Assets / Assets1.57%2.50%1.50%1.86%1.63%+6 bps
CRE / Total Capitaln/a290%293%297%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

1st Security Bank of Washington

Mountlake Terrace, WA · Cert 57633 · Peer group: banks $1B-$10B in assets (n=322-328) · FS Bcorp Inc.

SI · FDIC · 30 branches

Q2 2026

$3.2BAssets
$2.7BLoans
$2.5BDeposits
$362.9MEquity

Executive Summary

  • Strongest standing: net interest margin outperforms 88% of banks $1B-$10B in assets (rank 41 of 328).
  • Widest gap: net charge-offs / loans trails 90% of banks $1B-$10B in assets (rank 290 of 322).
  • Overall: at or above the peer median on 2 of 9 directional measures.

Return on Assets

1.10%

Rank 203 of 328

Net Interest Margin

4.20%

Rank 41 of 328

Efficiency Ratio

64.94%

Rank 221 of 328

Equity / Assets

11.42%

Rank 110 of 328

Non-interest income vs. expense

$21.8M$100.9MINCOMEEXPENSE
Unfavorable gap of $79.1M · efficiency ratio beats 33% of banks $1B-$10B in assets
Bank 64.94%Peer median 59.6%Q2 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets1.10%0.91%1.22%1.52%Beats 38%203 / 328
Return on Equity9.62%8.43%11.45%14.43%Beats 33%220 / 328
Net Interest Margin4.20%3.03%3.45%3.83%Beats 88%41 / 328
Efficiency Ratio64.94%51.61%59.56%67.53%Beats 33%221 / 328
Asset Quality
Nonperforming Loans / Loans0.58%0.24%0.51%1.03%Beats 46%176 / 322
Net Charge-Offs / Loans0.27%0.01%0.03%0.10%Beats 10%290 / 322
Capital
Tier 1 Capital Ratio12.84%11.75%13.15%15.47%Beats 46%178 / 328
Total Risk-Based Capital Ratio14.01%12.63%14.15%16.46%Beats 48%170 / 328
Equity / Assets11.42%9.15%10.33%12.01%Beats 66%110 / 328
Liquidity & Funding
Loans / Deposits109.14%76.63%87.92%95.36%95th pctl15 / 323
Loans / Assets84.65%65.18%74.15%79.98%90th pctl34 / 328
Brokered Deposits / Depositsn/aNot reported for this institution