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First State Bank

Belmond, IA · Cert 5791 · First Belmond Bcorp

State charter, non-member · FDIC · 1 branch

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets in IA3

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 in IA (n=134 to 135). 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

22

Q2 2024Q2 2026peer median (50)

Asset Quality

66

Q2 2024Q2 2026peer median (50)

Profitability

13

Q2 2024Q2 2026peer median (50)

Liquidity

0

Q2 2024Q2 2026peer median

Efficiency

50

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 State Bank

Belmond, IA · Cert 5791 · First Belmond Bcorp

State charter, non-member · FDIC · 1 affiliate bank · 1 branch (2 in holding)

Q2 2026

$141.7MAssets
$62.6MLoans
$117.8MDeposits
$13.4MEquity
Loan mix
51%RE $28.0M41%C&I $22.2M8%Consumer $4.4MQ3 2024Q2 2026
Deposit mix
85%Interest-bearing $100.5M15%Noninterest $17.3MQ3 2024Q2 2026

Executive Summary

  • Earnings: ROA of 0.71%, up 13 bps year over year; NIM at 2.14%.
  • Asset quality: problem loans at 0.92% of loans (+4 bps YoY), with net recoveries of 0.02%.
  • Capital: tier 1 leverage ratio of 11.23%, down 27 bps from a year ago.
  • Funding: loans stand at 53.14% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

0.71%+13 bps YoY

Net Interest Margin (YTD, annualized)

2.14%+28 bps YoY

Efficiency Ratio (YTD, annualized)

57.45%-870 bps YoY

Tier 1 Leverage Ratio

11.23%-27 bps YoY

NIM

3.37%Q2 ’243.81%Q2 ’254.08%Q2 ’26+44%+15%

Non-interest income vs. expense

1.43%Q2 ’241.46%Q2 ’251.46%Q2 ’26+11%-5%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.28%0.37%0.44%0.58%0.61%0.64%0.76%0.71%+13 bps
Return on Equity3.55%4.61%5.14%6.68%6.90%7.17%8.31%7.64%+95 bps
Net Interest Margin1.34%1.43%1.80%1.87%1.91%1.93%2.08%2.14%+28 bps
Efficiency Ratio83.59%76.54%71.41%66.15%64.43%62.86%53.73%57.45%-870 bps
Non-Interest Burden1.06%1.00%1.21%1.12%1.11%1.07%0.92%1.06%-6 bps
Growth
Asset Growth (YoY)0.33%-2.14%1.12%2.88%2.11%10.11%4.31%5.37%+249 bps
Loan Growth (YoY)10.91%4.67%12.88%9.46%7.37%9.09%8.34%3.57%-589 bps
Deposit Growth (YoY)1.31%2.29%0.86%-0.78%-1.71%5.38%11.62%15.83%+1,661 bps
Asset Quality
Nonperforming Loans / Loans0.64%0.49%0.36%0.88%0.91%0.89%0.97%0.92%+4 bps
Net Charge-Offs / Loans-0.01%0.05%0.47%0.24%0.15%0.10%-0.02%-0.02%-26 bps
Allowance / Loans0.74%0.73%0.67%0.69%0.77%0.79%0.94%1.05%+35 bps
Allowance Coverage of NPLs1.1x1.5x1.9x0.8x0.8x0.9x1.0x1.1x+0.4x
Capital
Tier 1 Leverage Ratio11.54%11.37%11.47%11.50%11.40%11.31%11.10%11.23%-27 bps
Total Risk-Based Capital11.54%11.37%11.47%11.50%11.40%11.31%11.10%11.23%-27 bps
Equity / Assets8.80%8.17%8.80%9.01%9.37%8.93%9.45%9.45%+45 bps
Liquidity & Funding
Loans / Deposits56.25%56.74%56.67%59.43%61.45%58.73%55.00%53.14%-629 bps
Liquid Assets / Assets7.10%6.54%7.01%6.80%7.44%12.87%9.24%10.95%+414 bps
CRE / Total Capitaln/an/an/an/a30.93%30.80%31.59%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 State Bank

Belmond, IA · Cert 5791 · Peer group: banks under $1B in assets in IA (n=134-135) · First Belmond Bcorp

State charter, non-member · FDIC · 1 affiliate bank · 1 branch (2 in holding)

Q2 2026

$141.7MAssets
$62.6MLoans
$117.8MDeposits
$13.4MEquity

Executive Summary

  • Strongest standing: net charge-offs / loans outperforms 100% of banks under $1B in assets in IA (rank 45 of 134).
  • Widest gap: net interest margin trails 97% of banks under $1B in assets in IA (rank 131 of 135).
  • Overall: at or above the peer median on 2 of 9 directional measures.

Return on Assets

0.71%

Rank 115 of 135

Net Interest Margin

2.14%

Rank 131 of 135

Efficiency Ratio

57.45%

Rank 69 of 135

Equity / Assets

9.45%

Rank 107 of 135

Non-interest income vs. expense

$0.6M$2.1MINCOMEEXPENSE
Unfavorable gap of $1.5M · efficiency ratio beats 50% of banks under $1B in assets in IA
Bank 57.45%Peer median 57.4%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets0.71%0.92%1.19%1.47%Beats 15%115 / 135
Return on Equity7.55%7.99%10.26%13.14%Beats 21%107 / 135
Net Interest Margin2.14%2.95%3.41%3.73%Beats 3%131 / 135
Efficiency Ratio57.45%50.61%57.35%63.29%Beats 50%69 / 135
Asset Quality
Nonperforming Loans / Loans0.92%0.03%0.51%1.26%Beats 31%93 / 134
Net Charge-Offs / Loans0.00%n/a0.01%0.03%Beats 100%45 / 134
Capital
Tier 1 Capital Ratio11.23%11.23%13.31%15.45%Beats 24%102 / 135
Total Risk-Based Capital Ratio11.23%11.61%14.06%16.47%Beats 21%107 / 135
Equity / Assets9.45%9.87%11.05%13.07%Beats 21%107 / 135
Liquidity & Funding
Loans / Deposits53.14%68.54%81.55%91.24%8th pctl123 / 134
Loans / Assets44.17%57.61%68.06%76.23%9th pctl123 / 135
Brokered Deposits / Depositsn/aNot reported for this institution