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Letter portraitLegal landscapeQuarterYTD

First National Bank of Michigan

Kalamazoo, MI · Cert 58259 · First National Bcorp Inc.

National charter · OCC · 6 branches

Q2 2026

$988.9MAssets
$826.3MLoans
$807.2MDeposits
$90.0MEquity
Loan mix
87%RE $715.0M13%C&I $109.9M0%Consumer $0.4MQ3 2024Q2 2026
Deposit mix
82%Interest-bearing $659.6M18%Noninterest $147.6MQ3 2024Q2 2026

Market Position · Kalamazoo-Portage, MI · 2026 SOD (annual) · 13.0% share · #3 of 13 inst. · $0.6B of $4.6B

13.0% Kalamazoo
0.5% Kent
0.8% Ottawa
0.3% Ingham

Executive Summary

  • Earnings: ROA of 0.98%, up 31 bps year over year; NIM at 3.24%.
  • Asset quality: problem loans at 0.80% of loans (+76 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 9.54%, up 28 bps from a year ago.
  • Funding: loans stand at 102.37% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

0.98%+31 bps YoY

Net Interest Margin (YTD, annualized)

3.24%+58 bps YoY

Efficiency Ratio (YTD, annualized)

58.75%-783 bps YoY

Tier 1 Leverage Ratio

9.54%+28 bps YoY

NIM

4.70%Q2 ’245.02%Q2 ’255.36%Q2 ’26+25%+22%

Non-interest income vs. expense

1.77%Q2 ’241.87%Q2 ’252.01%Q2 ’26+10%+6%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.56%0.57%0.66%0.67%0.75%0.77%0.92%0.98%+31 bps
Return on Equity7.32%7.38%7.83%7.97%8.82%8.90%10.23%10.85%+289 bps
Net Interest Margin2.16%2.28%2.57%2.66%2.72%2.80%3.12%3.24%+58 bps
Efficiency Ratio74.67%73.99%68.66%66.57%65.06%64.62%59.82%58.75%-783 bps
Non-Interest Burden1.56%1.64%1.72%1.72%1.72%1.75%1.80%1.82%+11 bps
Growth
Asset Growth (YoY)0.13%-1.03%-5.13%0.27%-0.19%1.59%2.38%0.84%+57 bps
Loan Growth (YoY)7.26%4.68%2.87%4.89%5.72%8.94%9.74%6.51%+161 bps
Deposit Growth (YoY)-3.81%3.11%-3.95%3.07%1.12%-3.76%-1.03%3.87%+81 bps
Asset Quality
Nonperforming Loans / Loans0.04%0.11%0.09%0.04%0.65%0.82%0.80%0.80%+76 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0.02%0.00%0.00%0 bps
Allowance / Loans1.40%1.39%1.32%1.34%1.33%1.33%1.38%1.44%+10 bps
Allowance Coverage of NPLs36.7x12.3x14.1x37.4x2.0x1.6x1.7x1.8x-35.5x
Capital
Tier 1 Leverage Ratio8.85%8.99%9.16%9.26%9.29%9.35%9.43%9.54%+28 bps
Total Risk-Based Capital12.09%11.96%12.10%12.13%12.21%12.09%12.19%12.21%+8 bps
Equity / Assets8.31%8.15%8.59%8.62%8.85%8.92%9.11%9.11%+49 bps
Liquidity & Funding
Loans / Deposits96.44%93.00%97.87%99.84%100.83%105.27%108.53%102.37%+253 bps
Liquid Assets / Assets1.53%1.95%1.11%2.14%2.52%1.88%1.19%2.91%+77 bps
CRE / Total Capitaln/an/an/an/a684%698%702%n/an/a