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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 $1.0MQ3 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