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Grove Bank

Grove City, MN · Cert 8857 · Grove Bcorp Inc.

State charter, non-member · FDIC · 1 branch

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets in MN3

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 MN (n=111 to 113). 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

49

Q2 2024Q2 2026peer median (50)

Asset Quality

87

Q2 2024Q2 2026peer median (50)

Profitability

30

Q2 2024Q2 2026peer median (50)

Liquidity

41

Q2 2024Q2 2026peer median

Efficiency

3

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

Grove Bank

Grove City, MN · Cert 8857 · Grove Bcorp Inc.

State charter, non-member · FDIC · 1 branch

Q2 2026

$56.4MAssets
$41.4MLoans
$45.4MDeposits
$7.0MEquity
Loan mix
68%RE $24.1M30%C&I $10.6M2%Consumer $0.8MQ2 2025Q2 2026
Deposit mix
82%Interest-bearing $37.4M18%Noninterest $8.1MQ2 2025Q2 2026

NIM

5.61%Q2 ’245.83%Q2 ’256.23%Q2 ’26+1%+12%

Non-interest income vs. expense

3.42%Q2 ’244.50%Q2 ’254.15%Q2 ’26+33%-8%

Executive Summary

  • Earnings: ROA of 0.21%, up 69 bps year over year; NIM at 4.39%.
  • Asset quality: problem loans at 0.11% of loans (-9 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 9.95%, up 136 bps from a year ago.
  • Funding: loans stand at 91.07% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.21%+69 bps YoY

Net Interest Margin (YTD, annualized)

4.39%+47 bps YoY

Efficiency Ratio (YTD, annualized)

92.02%-2,002 bps YoY

Tier 1 Leverage Ratio

9.95%+136 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets-0.48%-0.30%-0.16%0.06%0.21%+69 bps
Return on Equity-3.99%-2.46%-1.28%0.46%1.66%+565 bps
Net Interest Margin3.92%3.88%3.96%4.06%4.39%+47 bps
Efficiency Ratio112.04%105.89%100.58%93.83%92.02%-2,002 bps
Non-Interest Burden4.42%4.16%4.04%3.87%4.05%-37 bps
Growth
Asset Growth (YoY)5.70%10.15%6.66%-7.28%-1.36%-705 bps
Loan Growth (YoY)5.98%3.87%2.23%8.07%14.03%+805 bps
Deposit Growth (YoY)8.01%13.46%8.84%-3.40%-0.87%-888 bps
Asset Quality
Nonperforming Loans / Loans0.20%0.28%0.23%0.24%0.11%-9 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans1.03%1.07%1.04%1.01%0.92%-11 bps
Allowance Coverage of NPLs5.1x3.8x4.6x4.2x8.3x+3.2x
Capital
Tier 1 Leverage Ratio8.59%9.35%9.52%10.01%9.95%+136 bps
Total Risk-Based Capital13.42%14.74%14.41%14.06%12.94%-48 bps
Equity / Assets11.71%12.11%12.41%12.61%12.48%+78 bps
Liquidity & Funding
Loans / Deposits79.17%75.43%79.83%83.33%91.07%+1,190 bps
Liquid Assets / Assets15.30%19.02%12.63%6.27%3.26%-1,204 bps
CRE / Total Capitaln/a57.21%56.29%55.40%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

Grove Bank

Grove City, MN · Cert 8857 · Peer group: banks under $1B in assets in MN (n=111-113) · Grove Bcorp Inc.

State charter, non-member · FDIC · 1 branch

Q2 2026

$56.4MAssets
$41.4MLoans
$45.4MDeposits
$7.0MEquity

Executive Summary

  • Strongest standing: net charge-offs / loans outperforms 100% of banks under $1B in assets in MN (rank 36 of 111).
  • Widest gap: efficiency ratio trails 97% of banks under $1B in assets in MN (rank 111 of 113).
  • Overall: at or above the peer median on 4 of 9 directional measures.

Return on Assets

0.21%

Rank 107 of 113

Net Interest Margin

4.39%

Rank 22 of 113

Efficiency Ratio

95.31%

Rank 111 of 113

Equity / Assets

12.48%

Rank 26 of 113

Non-interest income vs. expense

$0.1M$2.3MINCOMEEXPENSE
Unfavorable gap of $2.3M · efficiency ratio beats 3% of banks under $1B in assets in MN
Bank 95.31%Peer median 61.5%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets0.21%0.87%1.20%1.41%Beats 5%107 / 113
Return on Equity1.65%8.92%11.27%13.99%Beats 4%108 / 113
Net Interest Margin4.39%3.42%3.88%4.31%Beats 81%22 / 113
Efficiency Ratio95.31%54.13%61.48%69.86%Beats 3%111 / 113
Asset Quality
Nonperforming Loans / Loans0.11%0.09%0.58%1.82%Beats 73%31 / 111
Net Charge-Offs / Loans0.00%n/a0.00%0.04%Beats 100%36 / 111
Capital
Tier 1 Capital Ratio12.08%11.53%13.31%18.13%Beats 36%72 / 113
Total Risk-Based Capital Ratio12.94%12.12%14.43%19.39%Beats 35%73 / 113
Equity / Assets12.48%8.52%10.10%11.94%Beats 77%26 / 113
Liquidity & Funding
Loans / Deposits91.07%62.08%77.32%88.06%79th pctl23 / 111
Loans / Assets73.36%55.01%66.35%75.50%64th pctl41 / 113
Brokered Deposits / Depositsn/aNot reported for this institution