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Citizens State Bank of Waverly (Incorporated)

Waverly, MN · Cert 9337

FDIC · 2 branches

Q4 2025

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets in the Minneapolis-St. Paul-Bloomington, MN-WI area3

Basis

Quarter: Q4 2025, the quarter ended December 31, 2025, 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 the Minneapolis-St. Paul-Bloomington, MN-WI area (n=57). 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

73

Q2 2024Q4 2025peer median (50)

Asset Quality

12

Q2 2024Q4 2025peer median (50)

Profitability

17

Q2 2024Q4 2025peer median (50)

Liquidity

8

Q2 2024Q4 2025peer median

Efficiency

25

Q2 2024Q4 2025peer 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

Citizens State Bank of Waverly (Incorporated)

Waverly, MN · Cert 9337

FDIC · 2 branches

Q4 2025

$117.6MAssets
$60.1MLoans
$106.9MDeposits
$10.3MEquity
Loan mix
91%RE $48.5M6%C&I $3.4M3%Consumer $1.5MQ1 2024Q4 2025
Deposit mix
76%Interest-bearing $81.0M24%Noninterest $25.8MQ1 2024Q4 2025

Market Position · Minneapolis-St. Paul-Bloomington, MN-WI · 2025 SOD (annual) · 0.0% share · #94 of 127 inst. · $0.1B of $232.6B

Executive Summary

  • Earnings: ROA of 0.62%, down 9 bps year over year; NIM at 2.66%.
  • Asset quality: problem loans at 2.93% of loans (+293 bps YoY), with net charge-offs at 0.28%.
  • Capital: tier 1 leverage ratio of 9.49%, down 63 bps from a year ago.
  • Funding: loans stand at 56.24% of deposits as of Q4 2025.

Return on Assets (YTD, annualized)

0.62%-9 bps YoY

Net Interest Margin (YTD, annualized)

2.66%-11 bps YoY

Efficiency Ratio (YTD, annualized)

71.42%+207 bps YoY

Tier 1 Leverage Ratio

9.49%-63 bps YoY

NIM

3.66%Q4 ’234.07%Q4 ’243.82%Q4 ’25+9%-4%

Non-interest income vs. expense

2.26%Q4 ’232.09%Q4 ’242.06%Q4 ’25-7%0%

Year to date, annualized, through each quarter.

MetricQ1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025YoY ΔTrend
Earnings
Return on Assets0.63%0.69%0.69%0.71%0.49%0.58%0.57%0.62%-9 bps
Return on Equity9.74%10.48%10.13%10.26%6.61%7.65%7.35%7.81%-245 bps
Net Interest Margin2.60%2.69%2.73%2.78%2.46%2.65%2.64%2.66%-11 bps
Efficiency Ratio69.08%68.83%69.59%69.34%70.60%72.43%72.70%71.42%+207 bps
Non-Interest Burden1.66%1.71%1.76%1.79%1.62%1.80%1.80%1.78%0 bps
Growth
Asset Growth (YoY)-3.07%0.30%0.65%-2.69%-1.09%0.03%3.45%4.15%+684 bps
Loan Growth (YoY)5.60%4.64%-0.83%-1.97%-5.02%-5.23%1.41%7.25%+923 bps
Deposit Growth (YoY)-4.23%-1.06%-2.83%-3.83%-1.97%-1.35%3.05%2.66%+649 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%3.56%3.46%3.31%2.93%+293 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.11%0.05%0.03%0.28%+28 bps
Allowance / Loans1.42%1.40%1.43%1.46%1.47%1.47%1.45%1.17%-30 bps
Allowance Coverage of NPLsn/an/an/an/a0.4x0.4x0.4x0.4xn/a
Capital
Tier 1 Leverage Ratio9.59%9.97%9.93%10.12%9.59%9.85%9.69%9.49%-63 bps
Total Risk-Based Capital17.67%17.86%18.48%19.02%18.79%18.81%18.28%18.29%-73 bps
Equity / Assets6.50%6.75%7.72%7.44%7.31%8.02%8.23%8.75%+131 bps
Liquidity & Funding
Loans / Deposits53.78%55.97%54.63%53.83%52.10%53.77%53.76%56.24%+241 bps
Liquid Assets / Assets13.25%11.39%13.30%12.55%14.62%14.19%13.95%12.34%-21 bps
CRE / Total Capitaln/an/an/an/an/an/a117.11%115.53%n/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

Citizens State Bank of Waverly (Incorporated)

Waverly, MN · Cert 9337 · Peer group: banks under $1B in assets in the Minneapolis-St. Paul-Bloomington, MN-WI area (n=57)

FDIC · 2 branches

Q4 2025

$117.6MAssets
$60.1MLoans
$106.9MDeposits
$10.3MEquity

Executive Summary

  • Strongest standing: brokered deposits / deposits outperforms 100% of banks under $1B in assets in the Minneapolis-St. Paul-Bloomington, MN-WI area (rank 27 of 57).
  • Widest gap: net interest margin trails 93% of banks under $1B in assets in the Minneapolis-St. Paul-Bloomington, MN-WI area (rank 53 of 57).
  • Overall: at or above the peer median on 3 of 9 directional measures.

Return on Assets

0.61%

Rank 47 of 57

Net Interest Margin

2.66%

Rank 53 of 57

Efficiency Ratio

71.42%

Rank 44 of 57

Equity / Assets

8.75%

Rank 31 of 57

Non-interest income vs. expense

$0.3M$2.5MINCOMEEXPENSE
Unfavorable gap of $2.2M · efficiency ratio beats 25% of banks under $1B in assets in the Minneapolis-St. Paul-Bloomington, MN-WI area
Bank 71.42%Peer median 63.8%Q2 2024Q4 2025Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets0.61%0.66%0.87%1.14%Beats 18%47 / 57
Return on Equity6.95%6.95%10.16%12.45%Beats 25%43 / 57
Net Interest Margin2.66%3.03%3.51%3.86%Beats 7%53 / 57
Efficiency Ratio71.42%58.53%63.83%71.09%Beats 25%44 / 57
Asset Quality
Nonperforming Loans / Loans2.93%0.13%0.48%1.12%Beats 12%51 / 57
Net Charge-Offs / Loansn/aNot reported for this institution
Capital
Tier 1 Capital Ratio17.13%10.85%12.88%15.50%Beats 86%8 / 57
Total Risk-Based Capital Ratio18.29%11.70%13.82%16.19%Beats 86%8 / 57
Equity / Assets8.75%7.96%8.85%10.57%Beats 46%31 / 57
Liquidity & Funding
Loans / Deposits56.24%70.26%82.86%92.87%14th pctl49 / 57
Loans / Assets51.12%61.75%71.99%77.22%14th pctl49 / 57
Brokered Deposits / Deposits0.00%n/a0.04%4.91%Beats 100%27 / 57