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Lake-Osceola State Bank

Baldwin, MI · Cert 8172 · Lake Financial Corp.

State charter, non-member · FDIC · 12 branches

Q2 2026

$469.4MAssets
$254.9MLoans
$403.4MDeposits
$51.5MEquity
Loan mix
70%RE $179.8M7%C&I $16.6M23%Consumer $58.7MQ3 2024Q2 2026
Deposit mix
75%Interest-bearing $303.3M25%Noninterest $100.1MQ3 2024Q2 2026

Executive Summary

  • Earnings: ROA of 1.41%, down 89 bps year over year; NIM at 3.93%.
  • Asset quality: problem loans at 0.24% of loans (-8 bps YoY), with net charge-offs at 0.11%.
  • Capital: tier 1 leverage ratio of 12.53%, up 47 bps from a year ago.
  • Funding: loans stand at 63.19% of deposits as of Q2 2026.

Return on Assets (quarter, annualized)

1.41%-89 bps YoY

Net Interest Margin (quarter, annualized)

3.93%+4 bps YoY

Efficiency Ratio (quarter, annualized)

60.57%-179 bps YoY

Tier 1 Leverage Ratio

12.53%+47 bps YoY

NIM

5.44%Q2 ’245.28%Q2 ’255.19%Q2 ’26-1%+1%

Non-interest income vs. expense

2.67%Q2 ’242.75%Q2 ’252.72%Q2 ’26+6%-3%

Discrete quarter, annualized.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets-0.94%1.12%1.29%2.30%1.63%0.91%1.77%1.41%-89 bps
Return on Equity-10.80%13.09%15.13%24.68%16.05%8.65%16.94%13.21%-1,147 bps
Net Interest Margin4.08%3.74%3.75%3.89%4.04%3.94%3.70%3.93%+4 bps
Efficiency Ratio54.77%76.01%64.88%62.36%56.64%75.48%54.57%60.57%-179 bps
Non-Interest Burden2.01%2.77%2.26%2.22%2.06%2.93%1.60%2.16%-6 bps
Growth
Asset Growth (YoY)2.39%3.18%2.12%0.89%0.76%1.93%6.70%4.98%+409 bps
Loan Growth (YoY)6.78%1.67%-0.54%-6.56%-7.28%-3.37%-2.22%0.06%+662 bps
Deposit Growth (YoY)0.76%3.03%2.56%0.21%-0.45%0.30%5.55%6.26%+605 bps
Asset Quality
Nonperforming Loans / Loans0.27%0.30%0.20%0.32%0.23%0.20%0.25%0.24%-8 bps
Net Charge-Offs / Loans3.40%0.02%0.06%-3.70%0.03%0.08%0.21%0.11%+382 bps
Allowance / Loans1.97%1.95%1.91%1.36%1.36%1.33%1.26%1.27%-9 bps
Allowance Coverage of NPLs7.3x6.4x9.4x4.3x6.0x6.6x5.0x5.4x+1.1x
Capital
Tier 1 Leverage Ratio10.24%11.18%11.58%12.06%12.06%12.22%12.27%12.53%+47 bps
Total Risk-Based Capital16.65%17.25%17.87%19.07%19.86%19.68%20.28%21.16%+210 bps
Equity / Assets8.81%8.24%8.85%9.80%10.49%10.48%10.41%10.97%+118 bps
Liquidity & Funding
Loans / Deposits71.45%68.05%67.79%67.11%66.55%65.56%62.80%63.19%-392 bps
Liquid Assets / Assets1.93%4.62%3.00%5.94%8.06%7.40%7.32%8.38%+244 bps
CRE / Total Capitaln/an/an/an/a167.19%175.20%168.76%n/an/a