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Q2 2026 · read from the 30 June 2026 Call Report · United States · South Central · Mississippi, the state note

First State Bank

Waynesboro, Mississippi · $952M in assets · beside the 11 other Mississippi banks between $300M and $1B

The filing

0.35%
ROA
12th of 12
+20.0%
Loans, year over year
1st of 12, largest first
82.9%
Efficiency
11th of 12

First State Bank is the second largest of the 12 Mississippi banks nearest its size between $300M and $1B, with $952M in assets at 30 June 2026. Loans are 64.3% of deposits, 3rd of 12 against a median of 75.1%, and equity is 9.6% of assets, 8th of 12. Loans grew +20.0% in the year, the fastest in the cohort, and deposits grew 0.5%; the cohort's median loan growth is +10.3%.

Noncurrent loans are 1.18% of the book, 10th of 12 against a median of 0.57%; 0.55% is 30 to 89 days past due, and the allowance covers them 0.8 times. Net charge-offs are 0.10% of loans, 9th of 12. Commercial real estate is 33.4% of loans, 8th of 12 against a median of 31.3%, and 178% of capital, below the 300% screen, with construction at 58% against the 100% screen.

Return on assets is 0.35%, the lowest in the cohort against a median of 1.18%, on an efficiency ratio of 82.9%, 11th of 12. Five years ago it was 0.81%. The question is whether the new lending seasons as cleanly as the book it joined, and what funded it.

Return on assetsMS banks $300M to $1B · 30 June 2026 · higher is stronger, listed first
median 1.18% FM Farmers & Merchants Bank 1.71% BB Bna Bank 1.63% FB First Bank 1.53% FS First Security Bank 1.30% Bo Bank of Holly Springs 1.28% CB Century Bank 1.21% UM United Mississippi Bank 1.15% PB Peoples Bank 0.97% FO FNB Oxford Bank 0.82% PB Peoples Bank Biloxi Mississippi 0.65% FC First Choice Bank 0.37% FS First State Bank 0.35%
Loans, year over yearMS banks $300M to $1B · 30 June 2026 · no better direction, largest first
median +10.3% FS First State Bank +20.0% FC First Choice Bank +19.0% BB Bna Bank +14.6% FO FNB Oxford Bank +14.4% PB Peoples Bank Biloxi Mississippi +11.6% PB Peoples Bank +10.8% FS First Security Bank +9.8% FB First Bank +8.2% FM Farmers & Merchants Bank +8.1% CB Century Bank +7.8% UM United Mississippi Bank +7.7% Bo Bank of Holly Springs -0.2%

SBA 7(a), FY2008 to FY2026

First State Bank is the 31st largest 7(a) lender into Mississippi of 206, with $17M across 25 loans, 0.6% of everything approved in the state (Community Bank of Mississippi leads with $460M). 4 of its 9 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Mississippi, and where it has gone quietshare movement, FY2023 to FY2025 against FY2020 to FY2022; outlined counties are on the book
Gaining shareLosing shareFlatGone quiet: nothing since FY2023Too thin to read a directionNo record
Every market on the book, largest firstrank and share among every lender in the county, FY2008 to FY2026
CountyApprovedRankShareTrend
Wayne, MS$9M3rd of 1515.5%-4.2 pts
Harrison, MS$2M25th of 611.0%thin
Forrest, MS$1M11th of 362.8%quiet FY2020
Lauderdale, MS$1M18th of 292.2%quiet FY2022
Jones, MS$1M19th of 280.9%quiet FY2022
Marion, MS$765K12th of 182.8%thin
Greene, MS$665K7th of 131.6%quiet FY2011
Washington, AL$515K3rd of 1019.3%thin
Madison, MS$200K53rd of 650.1%thin
What it lends to: the five largest industries on the bookshare of book is concentration; share of sector and rank are position, among every 7(a) lender nationally
IndustryLoansApprovedShare of bookShare of sectorRank
Agriculture, forestry & fishing7$7M38.3%0.08%128th of 1,007
Accommodation & food services5$5M31.9%0.01%780th of 2,596
Retail trade3$2M11.7%0.00%1166th of 2,589
Construction3$946K5.5%0.00%1222nd of 2,063
Other services3$646K3.8%0.00%1362nd of 2,248
7(a) lenders into Mississippi, share of approvals since FY2008206 lenders on record; the ten largest and First State Bank
CB Community Bank of Mississippi 15.3% $460M · 1,205 loans FF First Financial Bank 10.0% $300M · 1,016 loans PB Peoples Bank 8.3% $248M · 805 loans LO Live Oak Banking Company 5.7% $171M · 118 loans TB Trustmark Bank 5.1% $155M · 1,047 loans B Bankplus 4.4% $132M · 340 loans RB Renasant Bank 4.0% $119M · 232 loans TH The Huntington National Bank 3.3% $99M · 260 loans BF Bankfirst Financial Services 2.7% $80M · 200 loans SA Southern Agcredit, Flca 1.8% $54M · 37 loans FS First State Bank 0.6% $17M · 25 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; Tier 1 stands in for the 9 CBLR filers, First State Bank among them; owner-occupied excluded; bold marks a screen met
First State BankRankCohort median
Total CRE against capital, the 300% screen178%6th of 12178%
Construction against capital, the 100% screen58%6th of 1262%
Construction and land development, share of loans10.8%5th of 1211.8%
Non-owner-occupied nonfarm nonresidential, share of loans20.4%8th of 1217.7%
Total CRE, the guidance definition, share of loans33.4%8th of 1231.3%
CRE growth over 36 months, the third prong+16.2%5th of 12+20.7%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
First Security Bank$977M1.3%63.7%0.55%0.05%1.3%72.3%8.6%
First State Bank$952M0.3%82.9%1.18%0.10%0.9%64.3%9.6%
FNB Oxford Bank$940M0.8%65.0%0.13%0.02%1.0%67.7%11.2%
Bna Bank$856M1.6%45.3%0.72%1.50%0.8%76.8%11.0%
Peoples Bank Biloxi Mississippi$771M0.6%78.7%0.18%-0.12%1.1%45.4%13.1%
Bank of Holly Springs$588M1.3%62.8%4.61%2.15%1.6%87.7%13.7%
Peoples Bank$582M1.0%57.7%0.34%-0.03%1.4%45.9%9.0%
Century Bank$566M1.2%66.8%0.60%0.09%1.3%77.5%9.1%
Farmers & Merchants Bank$566M1.7%58.3%1.69%0.17%2.2%73.4%13.5%
First Bank$563M1.5%63.8%1.11%0.00%1.3%79.8%13.1%
First Choice Bank$561M0.4%87.2%0.31%0.09%1.0%79.7%8.2%
United Mississippi Bank$561M1.1%76.4%0.19%0.05%0.8%86.4%11.5%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
First State BankCohort median
20212026Change20212026Change
Loans$451M$533M+18%$261M$410M+57%
Deposits$780M$828M+6%$425M$516M+21%
NPA / loans1.42%1.18%-0.24 pts0.97%0.57%-0.40 pts
Efficiency63.4%82.9%+19.5 pts64.2%64.4%+0.2 pts
ROA0.81%0.35%-0.47 pts1.07%1.18%+0.11 pts

This read was prepared for First State Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on First State Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort MS banks $300M to $1B
Institution www.firststatebnk.com

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by state and asset band; SBA 7(a) FOIA release as of the 2026 file, loans credited to the institution holding them today. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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