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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 $0.8MQ3 2024Q2 2026
Deposit mix
82%Interest-bearing $37.4M18%Noninterest $8.1MQ3 2024Q2 2026

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.

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

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%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.05%-0.02%-0.24%-0.48%-0.30%-0.16%0.06%0.21%+69 bps
Return on Equity0.40%-0.16%-1.94%-3.99%-2.46%-1.28%0.46%1.66%+565 bps
Net Interest Margin3.85%3.79%3.87%3.92%3.88%3.96%4.06%4.39%+47 bps
Efficiency Ratio87.97%88.07%107.06%112.04%105.89%100.58%93.83%92.02%-2,002 bps
Non-Interest Burden3.44%3.38%4.18%4.42%4.16%4.04%3.87%4.05%-37 bps
Growth
Asset Growth (YoY)15.37%11.57%18.72%5.70%10.15%6.66%-7.28%-1.36%-705 bps
Loan Growth (YoY)11.13%14.99%3.78%5.98%3.87%2.23%8.07%14.03%+805 bps
Deposit Growth (YoY)22.00%16.48%20.28%8.01%13.46%8.84%-3.40%-0.87%-888 bps
Asset Quality
Nonperforming Loans / Loans0.39%0.44%0.40%0.20%0.28%0.23%0.24%0.11%-9 bps
Net Charge-Offs / Loans0.39%0.28%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans1.07%1.07%1.05%1.03%1.07%1.04%1.01%0.92%-11 bps
Allowance Coverage of NPLs2.7x2.4x2.6x5.1x3.8x4.6x4.2x8.3x+3.2x
Capital
Tier 1 Leverage Ratio9.43%9.23%9.39%8.59%9.35%9.52%10.01%9.95%+136 bps
Total Risk-Based Capital16.90%11.49%10.13%13.42%14.74%14.41%14.06%12.94%-48 bps
Equity / Assets12.99%12.84%11.46%11.71%12.11%12.41%12.61%12.48%+78 bps
Liquidity & Funding
Loans / Deposits82.39%84.99%74.48%79.17%75.43%79.83%83.33%91.07%+1,190 bps
Liquid Assets / Assets15.53%9.53%15.07%15.30%19.02%12.63%6.27%3.26%-1,204 bps
CRE / Total Capitaln/an/an/an/a57.21%56.29%55.40%n/an/a