Heartland State Bank
Redfield, SD FDIC 9007 $100M-$500M
Quarter Ended
Q1'26
Data as of March 31, 2026
Quarterly Snapshot
Metric Q1'26 YoY Δ Q1'25
Profitability
Return on Assets (%) 2.20% -0.17 2.37%
Return on Equity (%) 24.39% -3.56 27.95%
Net Interest Margin (%) 5.11% +0.23 4.88%
Efficiency Ratio (%) 56.39% +5.65 50.74%
Pre-Provision Profit ($M) $1 -0.02 $1
Cost of Funds (%) 1.24% -0.12 1.36%
Balance Sheet
Total Assets ($M) $156 +5.41 $151
Gross Loans ($M) $118 +14.96 $103
Loan Growth YoY (%) 86.98% +5.86 81.12%
Total Deposits ($M) $135 +8.69 $126
Shareholders Equity ($M) $14 +1.07 $13
Tang. Book Value ($M) $14 +1.07 $13
TBV excl. AOCI ($M)** $15 +0.53 $15
Loan / Deposit Ratio (%) 86.98% +5.86 81.12%
Credit Quality
NPA / Total Assets (%) 0.00% 0.00 0.00%
Allowance / Loans (%) 0.82% -0.11% 0.92%
Net Charge-Off Ratio (%) 0.00% 0.00 0.00%
Capital
Tier 1 Capital Ratio (%) 10.86% -1.08 11.93%
** TBV excl. AOCI adds back unrealised losses on AFS securities to show capital excluding mark-to-market interest rate impact.
8-Quarter Trend
Metric Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26
▁▁▂▆▇▇▇█ Net Interest Margin (%) 4.33% 4.39% 4.46% 4.88% 5.00% 5.01% 5.01% 5.11%
▁▁▁▆▇██▃ Return on Assets (%) 2.05% 2.10% 2.05% 2.37% 2.46% 2.52% 2.48% 2.20%
▄▃▆▃▂▁▂█ Efficiency Ratio (%) 51.8% 51.3% 53.9% 50.7% 49.9% 48.7% 49.7% 56.4%
▅█▇▂▃▅▇▁ Cost of Funds (%) 1.51% 1.72% 1.63% 1.36% 1.40% 1.49% 1.65% 1.24%
▄▄▄▄▄▄▄▄ NPA / Assets (%) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
▄▄▄▄▄▄▄▄ Net Charge-Off Ratio (%) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
▁▄▃▅▇███ Tang. Book Value ($M) $12 $13 $12 $13 $13 $14 $14 $14
▁▂▂▃▄▆██ Gross Loans ($M) $98 $101 $101 $103 $106 $113 $116 $118
▂▁▂▅▄▁▅█ Total Deposits ($M) $118 $115 $117 $126 $123 $117 $125 $135
Portfolio Composition — Q1'26
Loan Mix%
Real Estate24%
C&I / Commercial4%
Agricultural70%
Consumer1%
Deposit Mix%
Nonint.-Bearing Demand35%
Interest-Bearing (core)59%
Brokered / Other6%
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