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First State Bank

Britt, IA · Cert 8522 · Readlyn Bancshares Inc.

State charter, non-member · FDIC · 2 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets in IA3

Basis

Quarter: Q2 2026, the quarter ended June 30, 2026, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

Banks under $1B in assets in IA (n=134 to 135). Each measure ranks only the institutions that reported it, so n varies by measure.

Peer groups below the disclosure floor are suppressed.

Peer standing

Capital

87

Q2 2024Q2 2026peer median (50)

Asset Quality

100

Q2 2024Q2 2026peer median (50)

Profitability

43

Q2 2024Q2 2026peer median (50)

Liquidity

6

Q2 2024Q2 2026peer median

Efficiency

96

Q2 2024Q2 2026peer median (50)

Growth

No peer data yet

Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

First State Bank

Britt, IA · Cert 8522 · Readlyn Bancshares Inc.

State charter, non-member · FDIC · 2 affiliate banks · 2 branches (5 in holding)

Q2 2026

$125.9MAssets
$56.9MLoans
$102.8MDeposits
$20.9MEquity
Loan mix
86%RE $40.5M12%C&I $5.7M2%Consumer $1.0MQ3 2024Q2 2026
Deposit mix
84%Interest-bearing $86.0M16%Noninterest $16.8MQ3 2024Q2 2026

Executive Summary

  • Earnings: ROA of 1.44%, up 78 bps year over year; NIM at 2.87%.
  • Asset quality: problem loans at 0.00% of loans (-53 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 17.71%, up 132 bps from a year ago.
  • Funding: loans stand at 55.32% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

1.44%+78 bps YoY

Net Interest Margin (YTD, annualized)

2.87%+10 bps YoY

Efficiency Ratio (YTD, annualized)

37.56%+97 bps YoY

Tier 1 Leverage Ratio

17.71%+132 bps YoY

NIM

4.38%Q2 ’244.39%Q2 ’254.50%Q2 ’26-8%+3%

Non-interest income vs. expense

1.14%Q2 ’241.11%Q2 ’251.17%Q2 ’26-8%+9%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.49%1.49%1.44%0.66%0.91%1.03%1.37%1.44%+78 bps
Return on Equity11.10%10.89%9.82%4.49%6.06%6.84%8.65%8.97%+448 bps
Net Interest Margin2.96%2.89%2.80%2.77%2.78%2.74%2.75%2.87%+10 bps
Efficiency Ratio36.44%36.69%37.61%36.60%37.40%37.67%37.76%37.56%+97 bps
Non-Interest Burden0.96%0.96%0.92%0.85%0.90%0.90%0.89%0.92%+8 bps
Growth
Asset Growth (YoY)3.44%-2.06%-1.79%-0.74%-3.34%6.88%1.34%-1.19%-45 bps
Loan Growth (YoY)4.81%1.87%-4.73%-12.61%-13.40%-11.10%-8.32%-5.15%+746 bps
Deposit Growth (YoY)3.53%-3.48%-2.90%-2.72%-7.27%4.20%-0.48%-2.55%+17 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%2.00%0.53%0.14%0.00%0.00%0.00%-53 bps
Net Charge-Offs / Loans0.00%0.00%0.00%2.27%1.69%1.36%0.00%0.00%-227 bps
Allowance / Loans1.22%1.22%1.28%1.43%1.31%1.15%1.17%1.24%-19 bps
Allowance Coverage of NPLsn/an/a0.6x2.7x9.4xn/an/an/an/a
Capital
Tier 1 Leverage Ratio15.73%15.55%16.62%16.39%16.72%16.73%16.82%17.71%+132 bps
Total Risk-Based Capital15.73%15.55%16.62%16.39%16.72%16.73%16.82%17.71%+132 bps
Equity / Assets14.24%14.42%14.85%14.78%15.87%15.45%16.12%16.57%+178 bps
Liquidity & Funding
Loans / Deposits63.69%66.93%64.29%56.84%59.48%57.10%59.23%55.32%-152 bps
Liquid Assets / Assets8.70%8.61%8.10%8.67%8.56%7.71%7.62%7.42%-125 bps
CRE / Total Capitaln/an/an/an/a59.34%63.45%62.41%n/an/a

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas. Income-statement figures are year-to-date as filed, annualized (the UBPR convention). Each quarter includes the ones before it.

CallReports · callreports.ai· Performance TrendsGenerated 2026-10-11

First State Bank

Britt, IA · Cert 8522 · Peer group: banks under $1B in assets in IA (n=134-135) · Readlyn Bancshares Inc.

State charter, non-member · FDIC · 2 affiliate banks · 2 branches (5 in holding)

Q2 2026

$125.9MAssets
$56.9MLoans
$102.8MDeposits
$20.9MEquity

Executive Summary

  • Strongest standing: nonperforming loans / loans outperforms 100% of banks under $1B in assets in IA (rank 21 of 134).
  • Widest gap: net interest margin trails 79% of banks under $1B in assets in IA (rank 106 of 135).
  • Overall: at or above the peer median on 7 of 9 directional measures.

Return on Assets

1.46%

Rank 37 of 135

Net Interest Margin

2.87%

Rank 106 of 135

Efficiency Ratio

37.56%

Rank 7 of 135

Equity / Assets

16.57%

Rank 12 of 135

Non-interest income vs. expense

$0.3M$1.5MINCOMEEXPENSE
Unfavorable gap of $1.2M · efficiency ratio beats 96% of banks under $1B in assets in IA
Bank 37.56%Peer median 57.4%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets1.46%0.92%1.19%1.47%Beats 73%37 / 135
Return on Equity8.79%7.99%10.26%13.14%Beats 35%88 / 135
Net Interest Margin2.87%2.95%3.41%3.73%Beats 21%106 / 135
Efficiency Ratio37.56%50.61%57.35%63.29%Beats 96%7 / 135
Asset Quality
Nonperforming Loans / Loans0.00%0.03%0.51%1.26%Beats 100%21 / 134
Net Charge-Offs / Loans0.00%n/a0.01%0.03%Beats 100%45 / 134
Capital
Tier 1 Capital Ratio17.71%11.23%13.31%15.45%Beats 85%20 / 135
Total Risk-Based Capital Ratio17.71%11.61%14.06%16.47%Beats 84%22 / 135
Equity / Assets16.57%9.87%11.05%13.07%Beats 91%12 / 135
Liquidity & Funding
Loans / Deposits55.32%68.54%81.55%91.24%12th pctl118 / 134
Loans / Assets45.15%57.61%68.06%76.23%10th pctl121 / 135
Brokered Deposits / Depositsn/aNot reported for this institution