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Farmers State Bank

Algona, IA · Cert 8760 · Whittemore Bancshares Inc.

State charter, non-member · FDIC · 3 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

50

Q2 2024Q2 2026peer median (50)

Asset Quality

45

Q2 2024Q2 2026peer median (50)

Profitability

57

Q2 2024Q2 2026peer median (50)

Liquidity

85

Q2 2024Q2 2026peer median

Efficiency

41

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

Farmers State Bank

Algona, IA · Cert 8760 · Whittemore Bancshares Inc.

State charter, non-member · FDIC · 3 branches

Q2 2026

$150.5MAssets
$110.5MLoans
$130.7MDeposits
$19.1MEquity
Loan mix
76%RE $65.0M20%C&I $16.8M4%Consumer $3.7MQ2 2025Q2 2026
Deposit mix
90%Interest-bearing $117.9M10%Noninterest $12.8MQ2 2025Q2 2026

NIM

4.58%Q2 ’245.15%Q2 ’255.05%Q2 ’26+16%+3%

Non-interest income vs. expense

2.18%Q2 ’242.36%Q2 ’252.36%Q2 ’26+10%+3%

Executive Summary

  • Earnings: ROA of 1.26%, up 14 bps year over year; NIM at 3.65%.
  • Asset quality: problem loans at 0.91% of loans (+77 bps YoY), with net recoveries of 0.03%.
  • Capital: tier 1 leverage ratio of 12.70%, down 8 bps from a year ago.
  • Funding: loans stand at 84.54% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.26%+14 bps YoY

Net Interest Margin (YTD, annualized)

3.65%+11 bps YoY

Efficiency Ratio (YTD, annualized)

59.25%-52 bps YoY

Tier 1 Leverage Ratio

12.70%-8 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.12%1.14%1.12%1.08%1.26%+14 bps
Return on Equity9.33%9.32%9.18%8.91%10.19%+86 bps
Net Interest Margin3.54%3.72%3.59%3.40%3.65%+11 bps
Efficiency Ratio59.77%59.85%60.74%62.61%59.25%-52 bps
Non-Interest Burden1.96%2.05%2.02%2.00%2.02%+7 bps
Growth
Asset Growth (YoY)-4.26%-4.23%4.49%6.20%9.89%+1,415 bps
Loan Growth (YoY)0.89%0.92%6.64%2.21%9.03%+813 bps
Deposit Growth (YoY)0.22%1.19%8.19%10.43%11.24%+1,102 bps
Asset Quality
Nonperforming Loans / Loans0.14%0.57%0.70%0.69%0.91%+77 bps
Net Charge-Offs / Loans0.01%0.03%0.07%-0.02%-0.03%-4 bps
Allowance / Loans1.39%1.39%1.28%1.36%1.34%-5 bps
Allowance Coverage of NPLs9.7x2.4x1.8x2.0x1.5x-8.2x
Capital
Tier 1 Leverage Ratio12.78%13.45%13.13%12.33%12.70%-8 bps
Total Risk-Based Capital12.78%13.45%13.13%12.33%12.70%-8 bps
Equity / Assets12.84%12.95%12.39%11.98%12.66%-18 bps
Liquidity & Funding
Loans / Deposits86.26%87.78%85.24%77.34%84.54%-172 bps
Liquid Assets / Assets1.83%0.44%3.87%9.95%3.18%+135 bps
CRE / Total Capitaln/a65.35%74.97%73.51%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

Farmers State Bank

Algona, IA · Cert 8760 · Peer group: banks under $1B in assets in IA (n=134-135) · Whittemore Bancshares Inc.

State charter, non-member · FDIC · 3 branches

Q2 2026

$150.5MAssets
$110.5MLoans
$130.7MDeposits
$19.1MEquity

Executive Summary

  • Strongest standing: equity / assets outperforms 71% of banks under $1B in assets in IA (rank 39 of 135).
  • Widest gap: nonperforming loans / loans trails 68% of banks under $1B in assets in IA (rank 92 of 134).
  • Overall: at or above the peer median on 4 of 9 directional measures.

Return on Assets

1.28%

Rank 61 of 135

Net Interest Margin

3.65%

Rank 43 of 135

Efficiency Ratio

59.25%

Rank 81 of 135

Equity / Assets

12.66%

Rank 39 of 135

Non-interest income vs. expense

$0.5M$3.6MINCOMEEXPENSE
Unfavorable gap of $3.1M · efficiency ratio beats 41% of banks under $1B in assets in IA
Bank 59.25%Peer median 57.4%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets1.28%0.92%1.19%1.47%Beats 55%61 / 135
Return on Equity10.09%7.99%10.26%13.14%Beats 47%71 / 135
Net Interest Margin3.65%2.95%3.41%3.73%Beats 68%43 / 135
Efficiency Ratio59.25%50.61%57.35%63.29%Beats 41%81 / 135
Asset Quality
Nonperforming Loans / Loans0.91%0.03%0.51%1.26%Beats 32%92 / 134
Net Charge-Offs / Loans0.00%n/a0.01%0.03%Beats 58%57 / 134
Capital
Tier 1 Capital Ratio12.70%11.23%13.31%15.45%Beats 41%79 / 135
Total Risk-Based Capital Ratio12.70%11.61%14.06%16.47%Beats 37%85 / 135
Equity / Assets12.66%9.87%11.05%13.07%Beats 71%39 / 135
Liquidity & Funding
Loans / Deposits84.54%68.54%81.55%91.24%57th pctl57 / 134
Loans / Assets73.40%57.61%68.06%76.23%64th pctl48 / 135
Brokered Deposits / Depositsn/aNot reported for this institution