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White State Bank

South English, IA · Cert 8519 · Country Bcorp

State charter, non-member · FDIC · 3 affiliate banks · 3 branches (12 in holding)

Q2 2026

$109.0MAssets
$38.1MLoans
$96.4MDeposits
$12.0MEquity
Loan mix
79%RE $23.7M15%C&I $4.3M6%Consumer $1.9MQ2 2025Q2 2026
Deposit mix
74%Interest-bearing $71.4M26%Noninterest $25.0MQ2 2025Q2 2026

NIM

4.13%Q2 ’244.51%Q2 ’254.49%Q2 ’26+18%+4%

Non-interest income vs. expense

1.44%Q2 ’241.54%Q2 ’251.50%Q2 ’26+7%-4%

Market Position · Iowa City, IA · 2026 SOD (annual) · 0.5% share · #15 of 20 inst. · $0.0B of $5.9B

12.2% Keokuk
2.9% Washington
4.1% Henry

Executive Summary

  • Earnings: ROA of 1.78%, up 35 bps year over year; NIM at 3.39%.
  • Asset quality: problem loans at 1.31% of loans (+131 bps YoY), with net recoveries of 0.01%.
  • Capital: tier 1 leverage ratio of 11.16%, down 10 bps from a year ago.
  • Funding: loans stand at 39.50% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.78%+35 bps YoY

Net Interest Margin (quarter, annualized)

3.39%+12 bps YoY

Efficiency Ratio (quarter, annualized)

42.81%-287 bps YoY

Tier 1 Leverage Ratio

11.16%-10 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.43%1.39%1.62%1.48%1.78%+35 bps
Return on Equity13.29%12.12%14.00%13.11%16.02%+273 bps
Net Interest Margin3.27%3.29%3.38%3.28%3.39%+12 bps
Efficiency Ratio45.68%47.66%39.49%43.98%42.81%-287 bps
Non-Interest Burden1.41%1.47%1.24%1.34%1.36%-5 bps
Growth
Asset Growth (YoY)-1.40%-2.68%5.20%3.94%10.22%+1,162 bps
Loan Growth (YoY)5.05%1.84%1.33%1.30%3.03%-202 bps
Deposit Growth (YoY)-3.42%-4.35%3.47%2.91%10.55%+1,397 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.96%1.31%+131 bps
Net Charge-Offs / Loans-0.03%-0.02%-0.02%-0.03%-0.01%+2 bps
Allowance / Loans1.76%1.74%1.75%1.80%1.74%-2 bps
Allowance Coverage of NPLsn/an/an/a1.9x1.3xn/a
Capital
Tier 1 Leverage Ratio11.26%11.38%11.55%11.12%11.16%-10 bps
Total Risk-Based Capital11.26%11.38%11.55%11.12%11.16%-10 bps
Equity / Assets11.14%11.71%11.40%11.22%11.02%-12 bps
Liquidity & Funding
Loans / Deposits42.37%43.63%40.57%40.19%39.50%-288 bps
Liquid Assets / Assets0.29%0.33%0.37%0.31%0.36%+8 bps
CRE / Total Capitaln/a42.04%42.30%55.03%n/an/a