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Glenwood State Bank (Incorporated)

Glenwood, MN · Cert 8853

State charter, non-member · FDIC · 3 branches

Q2 2026

$545.2MAssets
$490.1MLoans
$469.4MDeposits
$56.2MEquity
Loan mix
83%RE $364.8M15%C&I $66.1M2%Consumer $10.1MQ2 2025Q2 2026
Deposit mix
82%Interest-bearing $383.1M18%Noninterest $86.4MQ2 2025Q2 2026

NIM

5.51%Q2 ’245.84%Q2 ’255.89%Q2 ’26+13%+11%

Non-interest income vs. expense

2.34%Q2 ’242.28%Q2 ’252.42%Q2 ’26-3%+6%

Executive Summary

  • Earnings: ROA of 1.33%, up 22 bps year over year; NIM at 3.80%.
  • Asset quality: problem loans at 2.03% of loans (+61 bps YoY), with net recoveries of 0.03%.
  • Capital: tier 1 leverage ratio of 10.28%, up 78 bps from a year ago.
  • Funding: loans stand at 104.39% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

1.33%+22 bps YoY

Net Interest Margin (YTD, annualized)

3.80%+36 bps YoY

Efficiency Ratio (YTD, annualized)

58.46%-231 bps YoY

Tier 1 Leverage Ratio

10.28%+78 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.12%1.17%1.23%1.30%1.33%+22 bps
Return on Equity12.24%12.66%13.19%13.08%13.27%+103 bps
Net Interest Margin3.43%3.50%3.50%3.77%3.80%+36 bps
Efficiency Ratio60.78%60.13%59.52%58.77%58.46%-231 bps
Non-Interest Burden1.96%1.97%1.95%2.08%2.08%+12 bps
Growth
Asset Growth (YoY)0.04%-0.13%1.23%1.60%-0.05%-8 bps
Loan Growth (YoY)-0.67%0.44%1.16%-0.86%-3.41%-274 bps
Deposit Growth (YoY)3.35%1.15%1.59%0.76%-1.14%-449 bps
Asset Quality
Nonperforming Loans / Loans1.42%1.65%1.36%1.58%2.03%+61 bps
Net Charge-Offs / Loans0.05%0.02%0.00%-0.03%-0.03%-7 bps
Allowance / Loans1.13%1.14%1.15%1.21%1.21%+8 bps
Allowance Coverage of NPLs0.8x0.7x0.8x0.8x0.6x-0.2x
Capital
Tier 1 Leverage Ratio9.50%9.64%9.75%10.34%10.28%+78 bps
Total Risk-Based Capital11.77%12.14%12.11%13.37%13.39%+162 bps
Equity / Assets9.36%9.58%9.64%10.25%10.30%+94 bps
Liquidity & Funding
Loans / Deposits106.84%109.04%103.83%103.72%104.39%-245 bps
Liquid Assets / Assets2.63%2.35%6.30%6.67%6.23%+359 bps
CRE / Total Capitaln/a416%396%350%n/an/a