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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 $4.4MQ2 2025Q2 2026
Deposit mix
85%Interest-bearing $100.5M15%Noninterest $17.3MQ2 2025Q2 2026

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%

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.

Financial Results

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

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.58%0.61%0.64%0.76%0.71%+13 bps
Return on Equity6.68%6.90%7.17%8.31%7.64%+95 bps
Net Interest Margin1.87%1.91%1.93%2.08%2.14%+28 bps
Efficiency Ratio66.15%64.43%62.86%53.73%57.45%-870 bps
Non-Interest Burden1.12%1.11%1.07%0.92%1.06%-6 bps
Growth
Asset Growth (YoY)2.88%2.11%10.11%4.31%5.37%+249 bps
Loan Growth (YoY)9.46%7.37%9.09%8.34%3.57%-589 bps
Deposit Growth (YoY)-0.78%-1.71%5.38%11.62%15.83%+1,661 bps
Asset Quality
Nonperforming Loans / Loans0.88%0.91%0.89%0.97%0.92%+4 bps
Net Charge-Offs / Loans0.24%0.15%0.10%-0.02%-0.02%-26 bps
Allowance / Loans0.69%0.77%0.79%0.94%1.05%+35 bps
Allowance Coverage of NPLs0.8x0.8x0.9x1.0x1.1x+0.4x
Capital
Tier 1 Leverage Ratio11.50%11.40%11.31%11.10%11.23%-27 bps
Total Risk-Based Capital11.50%11.40%11.31%11.10%11.23%-27 bps
Equity / Assets9.01%9.37%8.93%9.45%9.45%+45 bps
Liquidity & Funding
Loans / Deposits59.43%61.45%58.73%55.00%53.14%-629 bps
Liquid Assets / Assets6.80%7.44%12.87%9.24%10.95%+414 bps
CRE / Total Capitaln/a30.93%30.80%31.59%n/an/a