PackageTrendsPeer
Letter portraitLegal landscapeQuarterYTD

Heritage Bank Minnesota

West Concord, MN · Cert 8865 · West Concord Bancshares Inc.

State charter, non-member · FDIC · 3 branches

Q2 2026

$120.9MAssets
$98.8MLoans
$109.8MDeposits
$7.8MEquity
Loan mix
82%RE $75.3M11%C&I $9.7M8%Consumer $7.1MQ3 2024Q2 2026
Deposit mix
80%Interest-bearing $88.1M20%Noninterest $21.6MQ3 2024Q2 2026

Market Position · Rochester, MN · 2026 SOD (annual) · 0.6% share · #24 of 34 inst. · $0.0B of $7.6B

13.5% Dodge
1.8% Rice
2.2% Goodhue

Executive Summary

  • Earnings: ROA of 0.67%, up 8 bps year over year; NIM at 3.43%.
  • Asset quality: problem loans at 0.64% of loans (-11 bps YoY), with net charge-offs at 0.01%.
  • Capital: tier 1 leverage ratio of 7.27%, down 53 bps from a year ago.
  • Funding: loans stand at 89.98% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

0.67%+8 bps YoY

Net Interest Margin (YTD, annualized)

3.43%+13 bps YoY

Efficiency Ratio (YTD, annualized)

74.43%-116 bps YoY

Tier 1 Leverage Ratio

7.27%-53 bps YoY

NIM

5.04%Q2 ’245.27%Q2 ’255.40%Q2 ’26+8%+4%

Non-interest income vs. expense

2.50%Q2 ’242.69%Q2 ’252.71%Q2 ’26+11%+3%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.61%0.43%0.63%0.58%0.65%0.53%0.60%0.67%+8 bps
Return on Equity9.76%6.90%10.05%9.55%10.54%8.53%9.78%10.73%+118 bps
Net Interest Margin3.13%3.20%3.37%3.30%3.30%3.26%3.37%3.43%+13 bps
Efficiency Ratio73.99%76.29%74.63%75.59%74.23%78.57%75.62%74.43%-116 bps
Non-Interest Burden2.24%2.38%2.45%2.43%2.38%2.51%2.50%2.50%+7 bps
Growth
Asset Growth (YoY)8.30%2.24%2.97%10.32%10.35%14.53%17.43%7.82%-250 bps
Loan Growth (YoY)9.46%3.35%4.84%9.55%15.25%19.38%15.29%12.50%+294 bps
Deposit Growth (YoY)6.19%7.54%13.07%20.84%11.51%20.66%13.46%7.64%-1,320 bps
Asset Quality
Nonperforming Loans / Loans0.35%0.60%0.34%0.74%1.17%0.39%0.42%0.64%-11 bps
Net Charge-Offs / Loans0.02%0.28%-0.18%-0.08%-0.03%-0.03%-0.01%0.01%+9 bps
Allowance / Loans0.94%0.91%0.98%0.96%0.93%0.94%0.99%0.99%+3 bps
Allowance Coverage of NPLs2.7x1.5x2.9x1.3x0.8x2.4x2.4x1.6x+0.3x
Capital
Tier 1 Leverage Ratio7.96%7.91%7.92%7.80%7.61%7.32%7.27%7.27%-53 bps
Total Risk-Based Capital11.85%11.52%11.55%11.14%10.97%10.82%11.41%11.04%-10 bps
Equity / Assets6.54%6.21%6.29%5.88%6.25%6.19%6.00%6.44%+56 bps
Liquidity & Funding
Loans / Deposits89.70%93.39%87.59%86.10%92.71%92.40%89.01%89.98%+388 bps
Liquid Assets / Assets3.06%1.39%2.80%4.32%0.93%0.64%7.06%3.33%-99 bps
CRE / Total Capitaln/an/an/an/a79.05%91.49%104.59%n/an/a