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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 $4.4MQ3 2024Q2 2026
Deposit mix
85%Interest-bearing $100.5M15%Noninterest $17.3MQ3 2024Q2 2026

Executive Summary

  • Earnings: ROA of 0.66%, down 6 bps year over year; NIM at 2.20%.
  • Asset quality: problem loans at 0.92% of loans (+4 bps YoY), with net recoveries of 0.03%.
  • 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 (quarter, annualized)

0.66%-6 bps YoY

Net Interest Margin (quarter, annualized)

2.20%+28 bps YoY

Efficiency Ratio (quarter, annualized)

61.06%-36 bps YoY

Tier 1 Leverage Ratio

11.23%-27 bps YoY

NIM

3.40%Q2 ’243.87%Q2 ’254.13%Q2 ’26+41%+14%

Non-interest income vs. expense

1.46%Q2 ’241.43%Q2 ’251.57%Q2 ’26-1%+17%

Discrete quarter, annualized.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.26%0.63%0.44%0.72%0.67%0.72%0.76%0.66%-6 bps
Return on Equity3.05%7.39%5.14%8.14%7.32%7.91%8.31%7.01%-113 bps
Net Interest Margin1.45%1.79%1.80%1.92%2.04%2.11%2.08%2.20%+28 bps
Efficiency Ratio84.55%60.03%71.41%61.42%61.33%58.83%53.73%61.06%-36 bps
Non-Interest Burden1.18%0.93%1.21%1.02%1.11%1.05%0.92%1.19%+17 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%0.21%0.47%0.02%-0.02%-0.01%-0.02%-0.03%-5 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