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First State Bank Southwest

Pipestone, MN · Cert 9770 · First STB SW Ksop PLAN&TR

State charter, Fed member · FED · 6 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 MN3

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 MN (n=111 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

46

Q2 2024Q2 2026peer median (50)

Asset Quality

52

Q2 2024Q2 2026peer median (50)

Profitability

40

Q2 2024Q2 2026peer median (50)

Liquidity

55

Q2 2024Q2 2026peer median

Efficiency

42

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

First State Bank Southwest

Pipestone, MN · Cert 9770 · First STB SW Ksop PLAN&TR

State charter, Fed member · FED · 6 branches

Q2 2026

$409.9MAssets
$224.2MLoans
$350.8MDeposits
$27.3MEquity
Loan mix
83%RE $139.2M12%C&I $19.2M5%Consumer $8.4MQ2 2025Q2 2026
Deposit mix
83%Interest-bearing $289.7M17%Noninterest $61.1MQ2 2025Q2 2026

NIM

3.97%Q2 ’244.22%Q2 ’254.24%Q2 ’26+15%+12%

Non-interest income vs. expense

2.15%Q2 ’242.33%Q2 ’252.32%Q2 ’26+10%-3%

Market Position · Sioux Falls, SD-MN · 2026 SOD (annual) · 0.0% share · #41 of 42 inst. · $0.0B of $1127.8B

28.9% Nobles
19.1% Pipestone
0.0% Minnehaha

Executive Summary

  • Earnings: ROA of 0.99%, up 31 bps year over year; NIM at 2.88%.
  • Asset quality: problem loans at 0.71% of loans (+21 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 9.69%, up 20 bps from a year ago.
  • Funding: loans stand at 63.90% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.99%+31 bps YoY

Net Interest Margin (YTD, annualized)

2.88%+31 bps YoY

Efficiency Ratio (YTD, annualized)

63.76%-688 bps YoY

Tier 1 Leverage Ratio

9.69%+20 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.68%0.70%0.80%0.80%0.99%+31 bps
Return on Equity13.37%12.81%13.97%12.02%14.77%+141 bps
Net Interest Margin2.57%2.65%2.70%2.87%2.88%+31 bps
Efficiency Ratio70.64%68.83%66.30%68.27%63.76%-688 bps
Non-Interest Burden1.60%1.59%1.53%1.74%1.56%-4 bps
Growth
Asset Growth (YoY)-0.76%-1.56%-1.05%0.47%4.79%+555 bps
Loan Growth (YoY)5.38%3.01%3.94%0.29%2.95%-243 bps
Deposit Growth (YoY)1.68%-3.76%-5.50%-1.44%5.01%+333 bps
Asset Quality
Nonperforming Loans / Loans0.50%0.53%0.45%0.73%0.71%+21 bps
Net Charge-Offs / Loans-0.02%-0.01%-0.01%0.00%0.00%+2 bps
Allowance / Loans1.19%1.36%1.35%1.43%1.45%+26 bps
Allowance Coverage of NPLs2.4x2.6x3.0x2.0x2.0x-0.3x
Capital
Tier 1 Leverage Ratio9.49%9.87%9.95%9.78%9.69%+20 bps
Total Risk-Based Capital17.45%18.13%17.62%17.66%17.53%+8 bps
Equity / Assets5.66%6.65%6.98%6.40%6.65%+99 bps
Liquidity & Funding
Loans / Deposits65.18%65.05%66.22%64.97%63.90%-128 bps
Liquid Assets / Assets0.56%0.59%0.61%0.60%0.49%-7 bps
CRE / Total Capitaln/a126.99%126.94%129.01%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

First State Bank Southwest

Pipestone, MN · Cert 9770 · Peer group: banks under $1B in assets in MN (n=111-113) · First STB SW Ksop PLAN&TR

State charter, Fed member · FED · 6 branches

Q2 2026

$409.9MAssets
$224.2MLoans
$350.8MDeposits
$27.3MEquity

Executive Summary

  • Strongest standing: return on equity outperforms 78% of banks under $1B in assets in MN (rank 25 of 113).
  • Widest gap: equity / assets trails 96% of banks under $1B in assets in MN (rank 108 of 113).
  • Overall: at or above the peer median on 4 of 9 directional measures.

Return on Assets

0.96%

Rank 76 of 113

Net Interest Margin

2.88%

Rank 102 of 113

Efficiency Ratio

63.76%

Rank 66 of 113

Equity / Assets

6.65%

Rank 108 of 113

Non-interest income vs. expense

$3.2M$9.8MINCOMEEXPENSE
Unfavorable gap of $6.6M · efficiency ratio beats 42% of banks under $1B in assets in MN
Bank 63.76%Peer median 61.5%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets0.96%0.87%1.20%1.41%Beats 33%76 / 113
Return on Equity14.49%8.92%11.27%13.99%Beats 78%25 / 113
Net Interest Margin2.88%3.42%3.88%4.31%Beats 10%102 / 113
Efficiency Ratio63.76%54.13%61.48%69.86%Beats 42%66 / 113
Asset Quality
Nonperforming Loans / Loans0.71%0.09%0.58%1.82%Beats 46%61 / 111
Net Charge-Offs / Loans0.00%n/a0.00%0.04%Beats 58%48 / 111
Capital
Tier 1 Capital Ratio16.28%11.53%13.31%18.13%Beats 67%37 / 113
Total Risk-Based Capital Ratio17.53%12.12%14.43%19.39%Beats 68%36 / 113
Equity / Assets6.65%8.52%10.10%11.94%Beats 4%108 / 113
Liquidity & Funding
Loans / Deposits63.90%62.08%77.32%88.06%28th pctl80 / 111
Loans / Assets54.68%55.01%66.35%75.50%24th pctl86 / 113
Brokered Deposits / Depositsn/aNot reported for this institution