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Progrowth Bank

Nicollet, MN · Cert 8536 · Progressive Growth Corp.

State charter, non-member · FDIC · 3 branches

Q2 2026

$364.8MAssets
$81.1MLoans
$327.1MDeposits
$19.9MEquity
Loan mix
86%RE $62.6M12%C&I $9.0M1%Consumer $1.0MQ3 2024Q2 2026
Deposit mix
91%Interest-bearing $298.6M9%Noninterest $28.5MQ3 2024Q2 2026

Market Position · Mankato, MN · 2026 SOD (annual) · 5.6% share · #7 of 19 inst. · $0.2B of $3.5B

32.4% Sibley
13.4% Nicollet
3.4% Blue Earth

Executive Summary

  • Earnings: ROA of 0.05%, down 39 bps year over year; NIM at 1.75%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net recoveries of 0.01%.
  • Capital: tier 1 leverage ratio of 7.09%, down 2 bps from a year ago.
  • Funding: loans stand at 24.80% of deposits as of Q2 2026.

Return on Assets (quarter, annualized)

0.05%-39 bps YoY

Net Interest Margin (quarter, annualized)

1.75%-16 bps YoY

Efficiency Ratio (quarter, annualized)

94.27%+2,139 bps YoY

Tier 1 Leverage Ratio

7.09%-2 bps YoY

NIM

5.45%Q2 ’244.97%Q2 ’254.65%Q2 ’26-25%-8%

Non-interest income vs. expense

1.43%Q2 ’241.48%Q2 ’251.77%Q2 ’26+5%+21%

Discrete quarter, annualized.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.77%0.10%0.51%0.44%0.40%0.07%-2.24%0.05%-39 bps
Return on Equity17.56%2.16%11.35%10.04%8.90%1.45%-44.07%0.89%-914 bps
Net Interest Margin2.27%2.13%2.06%1.91%1.89%1.74%1.28%1.75%-16 bps
Efficiency Ratio57.97%79.42%69.77%72.88%74.49%78.39%104.37%94.27%+2,139 bps
Non-Interest Burden1.26%1.66%1.40%1.36%1.38%1.33%1.34%1.64%+28 bps
Growth
Asset Growth (YoY)14.42%-4.53%0.71%0.73%3.87%4.03%-8.58%-12.28%-1,301 bps
Loan Growth (YoY)7.47%5.96%3.68%5.14%0.99%3.71%3.01%-0.90%-604 bps
Deposit Growth (YoY)14.57%-7.42%-3.88%-5.61%-1.21%1.50%0.88%-2.50%+311 bps
Asset Quality
Nonperforming Loans / Loans0.01%0.01%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.07%-0.03%-0.06%0.00%0.00%-0.01%0.00%-0.01%-1 bps
Allowance / Loans0.81%0.80%0.82%0.80%0.82%0.78%0.80%0.81%+1 bps
Allowance Coverage of NPLs90.6x128.4x217.7x653.0xn/an/an/an/an/a
Capital
Tier 1 Leverage Ratio7.27%7.27%7.39%7.12%7.25%6.85%6.41%7.09%-2 bps
Total Risk-Based Capital21.70%20.46%20.73%18.02%19.60%18.89%19.84%20.50%+248 bps
Equity / Assets4.70%4.40%4.55%4.20%4.79%4.91%5.25%5.45%+125 bps
Liquidity & Funding
Loans / Deposits22.78%24.53%24.02%24.40%23.29%25.06%24.53%24.80%+40 bps
Liquid Assets / Assets1.78%0.80%2.68%0.61%4.59%1.90%1.27%2.38%+177 bps
CRE / Total Capitaln/an/an/an/a48.16%57.57%57.02%n/an/a