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State Savings Bank

Frankfort, MI · Cert 8162 · Central-State Bcorp Inc.

State charter, non-member · FDIC · 8 branches

Q2 2026

$431.2MAssets
$326.3MLoans
$391.6MDeposits
$37.0MEquity
Loan mix
92%RE $282.7M8%C&I $24.7M0%Consumer $1.3MQ2 2025Q2 2026
Deposit mix
68%Interest-bearing $264.7M32%Noninterest $126.9MQ2 2025Q2 2026

NIM

5.60%Q2 ’245.54%Q2 ’255.64%Q2 ’26-3%+3%

Non-interest income vs. expense

4.12%Q2 ’244.46%Q2 ’254.45%Q2 ’26+12%-1%

Market Position · Traverse City, MI · 2026 SOD (annual) · 7.1% share · #5 of 13 inst. · $0.3B of $4.8B

51.9% Benzie
2.5% Grand Traverse
9.1% Otsego
7.6% Leelanau

Executive Summary

  • Earnings: ROA of 0.35%, up 13 bps year over year; NIM at 4.37%.
  • Asset quality: problem loans at 0.20% of loans (-7 bps YoY), with net recoveries of 0.01%.
  • Capital: tier 1 leverage ratio of 8.79%, down 40 bps from a year ago.
  • Funding: loans stand at 83.33% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.35%+13 bps YoY

Net Interest Margin (YTD, annualized)

4.37%+11 bps YoY

Efficiency Ratio (YTD, annualized)

90.77%-288 bps YoY

Tier 1 Leverage Ratio

8.79%-40 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.23%0.31%0.38%0.46%0.35%+13 bps
Return on Equity2.50%3.46%4.35%5.06%3.99%+149 bps
Net Interest Margin4.26%4.01%4.12%4.39%4.37%+11 bps
Efficiency Ratio93.65%91.35%88.72%87.41%90.77%-288 bps
Non-Interest Burden3.95%3.62%3.61%3.76%3.92%-4 bps
Growth
Asset Growth (YoY)13.18%8.68%9.60%5.59%5.30%-788 bps
Loan Growth (YoY)6.42%4.38%12.25%10.61%10.73%+431 bps
Deposit Growth (YoY)14.38%9.34%10.29%5.63%5.37%-901 bps
Asset Quality
Nonperforming Loans / Loans0.28%0.46%0.62%0.52%0.20%-7 bps
Net Charge-Offs / Loans0.02%0.01%0.00%-0.01%-0.01%-2 bps
Allowance / Loans0.86%0.85%0.87%0.87%0.84%-1 bps
Allowance Coverage of NPLs3.1x1.8x1.4x1.7x4.1x+1.0x
Capital
Tier 1 Leverage Ratio9.19%8.52%8.64%9.02%8.79%-40 bps
Total Risk-Based Capital9.19%8.52%8.64%9.02%8.79%-40 bps
Equity / Assets8.64%8.14%8.89%9.19%8.58%-6 bps
Liquidity & Funding
Loans / Deposits79.30%72.82%83.10%85.61%83.33%+403 bps
Liquid Assets / Assets17.15%20.43%9.89%12.42%12.16%-499 bps
CRE / Total Capitaln/a395%416%417%n/an/a