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Western State Bank

Devils Lake, ND · Cert 9123 · Western St Agency Employee STK Ownership PLAN&TR

State charter, non-member · FDIC · 10 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks $1B-$10B in assets3

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 $1B-$10B in assets (n=322 to 328). 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

57

Q2 2024Q2 2026peer median (50)

Asset Quality

22

Q2 2024Q2 2026peer median (50)

Profitability

91

Q2 2024Q2 2026peer median (50)

Liquidity

0

Q2 2024Q2 2026peer median

Efficiency

86

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

Western State Bank

Devils Lake, ND · Cert 9123 · Western St Agency Employee STK Ownership PLAN&TR

State charter, non-member · FDIC · 10 branches

Q2 2026

$2.5BAssets
$2.3BLoans
$2.1BDeposits
$332.1MEquity
Loan mix
43%RE $0.9B56%C&I $1.2B0%Consumer $0.0BQ2 2025Q2 2026
Deposit mix
80%Interest-bearing $1.7B20%Noninterest $0.4BQ2 2025Q2 2026

NIM

7.06%Q2 ’247.17%Q2 ’257.39%Q2 ’26+8%+7%

Non-interest income vs. expense

2.52%Q2 ’242.42%Q2 ’252.64%Q2 ’26+0%+8%

Market Position · Phoenix-Mesa-Chandler, AZ · 2026 SOD (annual) · 0.6% share · #14 of 55 inst. · $1.1B of $192.0B

0.5% Maricopa
55.5% Ramsey
4.0% Cass
3.4% Pinal

Executive Summary

  • Earnings: ROA of 2.01%, up 39 bps year over year; NIM at 5.18%.
  • Asset quality: problem loans at 0.90% of loans (-13 bps YoY), with net charge-offs at 0.27%.
  • Capital: tier 1 leverage ratio of 13.19%, up 129 bps from a year ago.
  • Funding: loans stand at 106.75% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

2.01%+39 bps YoY

Net Interest Margin (YTD, annualized)

5.18%+36 bps YoY

Efficiency Ratio (YTD, annualized)

47.03%+44 bps YoY

Tier 1 Leverage Ratio

13.19%+129 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.62%1.79%1.79%1.98%2.01%+39 bps
Return on Equity14.05%15.24%15.08%16.16%15.90%+185 bps
Net Interest Margin4.82%4.98%4.82%5.06%5.18%+36 bps
Efficiency Ratio46.60%45.73%46.90%47.38%47.03%+44 bps
Non-Interest Burden2.04%2.05%2.05%2.15%2.20%+16 bps
Growth
Asset Growth (YoY)8.22%4.33%9.13%5.86%3.02%-521 bps
Loan Growth (YoY)7.15%6.21%4.96%3.70%2.61%-454 bps
Deposit Growth (YoY)6.81%1.98%7.87%4.05%2.16%-465 bps
Asset Quality
Nonperforming Loans / Loans1.03%1.30%1.50%0.85%0.90%-13 bps
Net Charge-Offs / Loans0.32%0.33%0.34%0.25%0.27%-5 bps
Allowance / Loans1.76%1.77%1.80%1.81%1.80%+4 bps
Allowance Coverage of NPLs1.7x1.4x1.2x2.1x2.0x+0.3x
Capital
Tier 1 Leverage Ratio11.90%12.56%12.44%12.70%13.19%+129 bps
Total Risk-Based Capital14.02%14.53%14.95%15.54%13.19%-84 bps
Equity / Assets11.84%12.45%12.11%12.43%13.36%+152 bps
Liquidity & Funding
Loans / Deposits106.28%108.13%100.65%99.35%106.75%+47 bps
Liquid Assets / Assets4.65%4.16%9.16%10.26%4.90%+25 bps
CRE / Total Capitaln/a241%229%223%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

Western State Bank

Devils Lake, ND · Cert 9123 · Peer group: banks $1B-$10B in assets (n=322-328) · Western St Agency Employee STK Ownership PLAN&TR

State charter, non-member · FDIC · 10 branches

Q2 2026

$2.5BAssets
$2.3BLoans
$2.1BDeposits
$332.1MEquity

Executive Summary

  • Strongest standing: return on assets outperforms 95% of banks $1B-$10B in assets (rank 18 of 328).
  • Widest gap: net charge-offs / loans trails 85% of banks $1B-$10B in assets (rank 276 of 322).
  • Overall: at or above the peer median on 6 of 9 directional measures.

Return on Assets

2.05%

Rank 18 of 328

Net Interest Margin

5.18%

Rank 15 of 328

Efficiency Ratio

47.04%

Rank 47 of 328

Equity / Assets

13.36%

Rank 45 of 328

Non-interest income vs. expense

$11.2M$66.8MINCOMEEXPENSE
Unfavorable gap of $55.7M · efficiency ratio beats 86% of banks $1B-$10B in assets
Bank 47.04%Peer median 59.6%Q2 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets2.05%0.91%1.22%1.52%Beats 95%18 / 328
Return on Equity15.37%8.43%11.45%14.43%Beats 83%56 / 328
Net Interest Margin5.18%3.03%3.45%3.83%Beats 95%15 / 328
Efficiency Ratio47.04%51.61%59.56%67.53%Beats 86%47 / 328
Asset Quality
Nonperforming Loans / Loans0.90%0.24%0.51%1.03%Beats 28%232 / 322
Net Charge-Offs / Loans0.21%0.01%0.03%0.10%Beats 15%276 / 322
Capital
Tier 1 Capital Ratio13.19%11.75%13.15%15.47%Beats 51%161 / 328
Total Risk-Based Capital Ratio13.19%12.63%14.15%16.46%Beats 34%216 / 328
Equity / Assets13.36%9.15%10.33%12.01%Beats 86%45 / 328
Liquidity & Funding
Loans / Deposits106.75%76.63%87.92%95.36%93rd pctl21 / 323
Loans / Assets90.62%65.18%74.15%79.98%98th pctl7 / 328
Brokered Deposits / Depositsn/aNot reported for this institution