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Security State Bank

Iron River, WI · Cert 9036 · Security Bank Shares Inc.

State charter, non-member · FDIC · 3 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets in WI3

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 WI (n=110 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

94

Q2 2024Q2 2026peer median (50)

Asset Quality

31

Q2 2024Q2 2026peer median (50)

Profitability

87

Q2 2024Q2 2026peer median (50)

Liquidity

96

Q2 2024Q2 2026peer median

Efficiency

90

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

Security State Bank

Iron River, WI · Cert 9036 · Security Bank Shares Inc.

State charter, non-member · FDIC · 1 affiliate bank · 3 branches (7 in holding)

Q2 2026

$136.2MAssets
$91.7MLoans
$105.2MDeposits
$28.4MEquity
Loan mix
74%RE $56.7M22%C&I $17.1M3%Consumer $2.4MQ2 2025Q2 2026
Deposit mix
78%Interest-bearing $82.5M22%Noninterest $22.6MQ2 2025Q2 2026

NIM

5.69%Q2 ’245.57%Q2 ’256.64%Q2 ’26-3%+26%

Non-interest income vs. expense

2.66%Q2 ’242.47%Q2 ’252.66%Q2 ’26-8%+13%

Market Position · Duluth, MN-WI · 2026 SOD (annual) · 0.2% share · #26 of 26 inst. · $0.0B of $6.6B

24.9% Bayfield
1.0% Douglas

Executive Summary

  • Earnings: ROA of 2.67%, up 59 bps year over year; NIM at 5.60%.
  • Asset quality: problem loans at 0.37% of loans (-126 bps YoY), with net charge-offs at 0.02%.
  • Capital: tier 1 leverage ratio of 21.38%, up 105 bps from a year ago.
  • Funding: loans stand at 87.14% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

2.67%+59 bps YoY

Net Interest Margin (YTD, annualized)

5.60%+114 bps YoY

Efficiency Ratio (YTD, annualized)

43.89%-554 bps YoY

Tier 1 Leverage Ratio

21.38%+105 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets2.08%1.93%1.85%3.53%2.67%+59 bps
Return on Equity10.78%10.01%9.51%17.78%13.24%+246 bps
Net Interest Margin4.46%4.53%4.52%6.27%5.60%+114 bps
Efficiency Ratio49.43%54.08%55.97%39.07%43.89%-554 bps
Non-Interest Burden1.94%2.22%2.31%2.20%2.19%+26 bps
Growth
Asset Growth (YoY)12.97%11.15%10.55%1.23%-0.44%-1,341 bps
Loan Growth (YoY)18.57%13.78%13.91%4.59%8.79%-977 bps
Deposit Growth (YoY)14.70%13.00%11.38%-0.61%-2.77%-1,747 bps
Asset Quality
Nonperforming Loans / Loans1.62%0.53%0.57%0.41%0.37%-126 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.06%0.02%+2 bps
Allowance / Loans1.78%1.86%1.83%1.99%1.76%-2 bps
Allowance Coverage of NPLs1.1x3.5x3.2x4.8x4.8x+3.7x
Capital
Tier 1 Leverage Ratio20.33%20.08%20.06%19.69%21.38%+105 bps
Total Risk-Based Capital29.96%31.79%31.32%33.13%30.41%+45 bps
Equity / Assets19.21%19.33%19.96%19.73%20.89%+168 bps
Liquidity & Funding
Loans / Deposits77.88%74.47%78.16%72.06%87.14%+926 bps
Liquid Assets / Assets12.33%14.67%10.23%16.14%3.38%-896 bps
CRE / Total Capitaln/a79.16%80.14%66.44%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

Security State Bank

Iron River, WI · Cert 9036 · Peer group: banks under $1B in assets in WI (n=110-113) · Security Bank Shares Inc.

State charter, non-member · FDIC · 1 affiliate bank · 3 branches (7 in holding)

Q2 2026

$136.2MAssets
$91.7MLoans
$105.2MDeposits
$28.4MEquity

Executive Summary

  • Strongest standing: net interest margin outperforms 98% of banks under $1B in assets in WI (rank 2 of 113).
  • Widest gap: net charge-offs / loans trails 77% of banks under $1B in assets in WI (rank 86 of 110).
  • Overall: at or above the peer median on 7 of 9 directional measures.

Return on Assets

2.72%

Rank 6 of 113

Net Interest Margin

5.60%

Rank 2 of 113

Efficiency Ratio

43.89%

Rank 12 of 113

Equity / Assets

20.89%

Rank 7 of 113

Non-interest income vs. expense

$0.6M$3.6MINCOMEEXPENSE
Unfavorable gap of $3.0M · efficiency ratio beats 90% of banks under $1B in assets in WI
Bank 43.89%Peer median 62.4%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets2.72%0.85%1.17%1.51%Beats 95%6 / 113
Return on Equity13.03%7.70%10.77%13.67%Beats 68%36 / 113
Net Interest Margin5.60%3.19%3.59%3.89%Beats 98%2 / 113
Efficiency Ratio43.89%54.61%62.43%71.88%Beats 90%12 / 113
Asset Quality
Nonperforming Loans / Loans0.37%0.03%0.24%0.91%Beats 38%69 / 110
Net Charge-Offs / Loans0.01%n/a0.00%0.01%Beats 23%86 / 110
Capital
Tier 1 Capital Ratio29.15%11.22%12.95%15.76%Beats 94%7 / 113
Total Risk-Based Capital Ratio30.41%11.57%13.59%16.73%Beats 94%7 / 113
Equity / Assets20.89%9.17%10.74%13.13%Beats 94%7 / 113
Liquidity & Funding
Loans / Deposits87.14%76.54%86.37%98.93%52nd pctl54 / 112
Loans / Assets67.28%63.07%71.33%78.84%36th pctl72 / 113
Brokered Deposits / Depositsn/aNot reported for this institution