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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 $1.0MQ2 2025Q2 2026
Deposit mix
84%Interest-bearing $86.0M16%Noninterest $16.8MQ2 2025Q2 2026

NIM

4.47%Q2 ’244.40%Q2 ’254.48%Q2 ’26-6%+3%

Non-interest income vs. expense

1.10%Q2 ’241.12%Q2 ’251.18%Q2 ’26-11%+18%

Executive Summary

  • Earnings: ROA of 1.52%, up 162 bps year over year; NIM at 2.90%.
  • 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.

Financial Results

Return on Assets (quarter, annualized)

1.52%+162 bps YoY

Net Interest Margin (quarter, annualized)

2.90%+9 bps YoY

Efficiency Ratio (quarter, annualized)

37.37%+173 bps YoY

Tier 1 Leverage Ratio

17.71%+132 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets-0.10%1.39%1.41%1.37%1.52%+162 bps
Return on Equity-0.69%9.08%9.01%8.65%9.31%+1,000 bps
Net Interest Margin2.80%2.80%2.78%2.75%2.90%+9 bps
Efficiency Ratio35.65%39.05%38.46%37.76%37.37%+173 bps
Non-Interest Burden0.79%1.00%0.98%0.89%0.93%+14 bps
Growth
Asset Growth (YoY)-0.74%-3.34%6.88%1.34%-1.19%-45 bps
Loan Growth (YoY)-12.61%-13.40%-11.10%-8.32%-5.15%+746 bps
Deposit Growth (YoY)-2.72%-7.27%4.20%-0.48%-2.55%+17 bps
Asset Quality
Nonperforming Loans / Loans0.53%0.14%0.00%0.00%0.00%-53 bps
Net Charge-Offs / Loans4.54%0.50%0.50%0.00%0.00%-454 bps
Allowance / Loans1.43%1.31%1.15%1.17%1.24%-19 bps
Allowance Coverage of NPLs2.7x9.4xn/an/an/an/a
Capital
Tier 1 Leverage Ratio16.39%16.72%16.73%16.82%17.71%+132 bps
Total Risk-Based Capital16.39%16.72%16.73%16.82%17.71%+132 bps
Equity / Assets14.78%15.87%15.45%16.12%16.57%+178 bps
Liquidity & Funding
Loans / Deposits56.84%59.48%57.10%59.23%55.32%-152 bps
Liquid Assets / Assets8.67%8.56%7.71%7.62%7.42%-125 bps
CRE / Total Capitaln/a59.34%63.45%62.41%n/an/a