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Park State Bank

Duluth, MN · Cert 8851 · Park Financial Group Inc.

State charter, non-member · FDIC · 18 branches

Q2 2026

$1.5BAssets
$902.7MLoans
$1.2BDeposits
$146.8MEquity
Loan mix
75%RE $658.6M23%C&I $203.7M2%Consumer $15.4MQ2 2025Q2 2026
Deposit mix
83%Interest-bearing $998.0M17%Noninterest $207.6MQ2 2025Q2 2026

NIM

5.07%Q2 ’245.16%Q2 ’255.02%Q2 ’26+6%+2%

Non-interest income vs. expense

1.87%Q2 ’241.88%Q2 ’251.93%Q2 ’26+3%+0%

Market Position · Duluth, MN-WI · 2026 SOD (annual) · 11.9% share · #4 of 26 inst. · $0.8B of $6.6B

15.5% St. Louis
17.7% Itasca
69.7% Lake
0.1% Hennepin

Executive Summary

  • Earnings: ROA of 1.18%, down 21 bps year over year; NIM at 3.17%.
  • Asset quality: problem loans at 0.92% of loans (+73 bps YoY), with net charge-offs at 0.97%.
  • Capital: tier 1 leverage ratio of 9.89%, down 42 bps from a year ago.
  • Funding: loans stand at 74.88% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.18%-21 bps YoY

Net Interest Margin (quarter, annualized)

3.17%+7 bps YoY

Efficiency Ratio (quarter, annualized)

48.24%-44 bps YoY

Tier 1 Leverage Ratio

9.89%-42 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.39%1.41%1.75%1.43%1.18%-21 bps
Return on Equity13.99%13.65%17.44%14.70%11.98%-201 bps
Net Interest Margin3.10%3.22%3.22%3.16%3.17%+7 bps
Efficiency Ratio48.68%49.56%47.16%48.93%48.24%-44 bps
Non-Interest Burden1.33%1.43%1.06%1.37%1.33%0 bps
Growth
Asset Growth (YoY)2.38%0.57%5.30%2.68%5.72%+334 bps
Loan Growth (YoY)0.85%-3.07%1.70%3.16%3.61%+276 bps
Deposit Growth (YoY)1.09%0.06%-2.66%-3.39%4.33%+325 bps
Asset Quality
Nonperforming Loans / Loans0.20%0.51%0.69%0.98%0.92%+73 bps
Net Charge-Offs / Loans0.03%-0.03%0.00%0.12%0.97%+94 bps
Allowance / Loans1.04%1.12%1.22%1.18%1.05%+1 bps
Allowance Coverage of NPLs5.3x2.2x1.8x1.2x1.1x-4.2x
Capital
Tier 1 Leverage Ratio10.31%10.62%9.98%9.81%9.89%-42 bps
Total Risk-Based Capital16.88%17.16%15.75%15.76%15.80%-108 bps
Equity / Assets10.25%10.36%9.67%9.85%9.83%-42 bps
Liquidity & Funding
Loans / Deposits75.40%73.96%73.41%76.10%74.88%-52 bps
Liquid Assets / Assets5.51%4.65%4.31%4.51%6.64%+113 bps
CRE / Total Capitaln/a229%234%231%n/an/a