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Q2 2026 · read from the 30 June 2026 Call Report · United States · Plains · Iowa, the state note

Hills Bank & Trust Co.

Hills, Iowa · $4.79B in assets · beside the 11 other the Plains states banks between $3B and $10B (the state alone holds too few in the band to rank)

The filing

103.8%
Loans / deposits
12th of 12
13.0%
Equity / assets
1st of 12
2.07%
ROA
1st of 12

Hills Bank & Trust Co. is the sixth largest of the 12 the Plains states banks nearest its size between $3B and $10B, with $4.79B in assets at 30 June 2026. Loans are 103.8% of deposits, the highest in the cohort against a median of 92.6%, and equity is 13.0% of assets, the highest in the cohort. Loans grew +3.9% in the year, 7th of 12, and deposits grew 5.7%; the cohort's median loan growth is +4.5%.

Noncurrent loans are 0.40% of the book, 5th of 12 against a median of 0.45%; 0.76% is 30 to 89 days past due, and the allowance covers them 3.8 times. Commercial real estate is 32.1% of loans, 5th of 12 against a median of 35.1%, and 186% of capital, below the 300% screen, with construction at 56% against the 100% screen.

Return on assets is 2.07%, the highest in the cohort against a median of 1.30%, on an efficiency ratio of 44.8%, the lowest in the cohort. Five years ago it was 1.46%. The question is what the capital is for: the balance sheet carries less risk than it could.

Loans as a share of depositsPlains states banks $3B to $10B · 30 June 2026 · lower is stronger, listed first
median 92.6% SB Security Bank of Kansas City 66.0% GC Gate City Bank 83.1% FB First Bank & Trust 85.7% WB West Bank 88.0% Bo Bank of Missouri 88.8% FS First State Community Bank 91.4% DB Dacotah Bank 93.9% AF Alerus Financial N.A. 95.8% SB Southern Bank 99.4% GS Great Southern Bank 100.1% BB Bridgewater Bank 101.3% HB Hills Bank & Trust Co. 103.8%
Loans, year over yearPlains states banks $3B to $10B · 30 June 2026 · no better direction, largest first
median +4.5% Bo Bank of Missouri +48.0% DB Dacotah Bank +8.2% FS First State Community Bank +7.3% SB Southern Bank +7.1% BB Bridgewater Bank +6.8% SB Security Bank of Kansas City +5.2% HB Hills Bank & Trust Co. +3.9% FB First Bank & Trust +2.5% GC Gate City Bank +1.2% WB West Bank -0.5% AF Alerus Financial N.A. -1.3% GS Great Southern Bank -4.9%

SBA 7(a), FY2008 to FY2026

Hills Bank & Trust Co. is the 23rd largest 7(a) lender into Iowa of 416, with $29M across 217 loans, 1.0% of everything approved in the state (Cedar Rapids Bank and Trust Company leads with $126M). 10 of its 18 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Iowa, 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
Johnson, IA$12M2nd of 679.1%+4.0 pts
Linn, IA$5M15th of 831.4%+0.5 pts
Van Buren, IA$4M2nd of 825.6%quiet FY2022
Washington, IA$2M3rd of 1214.7%thin
Warren, IA$1M13th of 452.3%quiet FY2022
Henry, IA$1M6th of 166.8%thin
Iowa, IA$593K6th of 193.2%quiet FY2018
Black Hawk, IA$565K25th of 480.5%quiet FY2013
Jefferson, IA$470K7th of 134.0%thin
Poweshiek, IA$450K6th of 144.6%thin
Keokuk, IA$445K3rd of 512.4%thin
Scott, IA$425K43rd of 730.2%quiet FY2015
Polk, IA$400K131st of 1770.1%quiet FY2021
5 smaller markets not shown.
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
Manufacturing20$6M22.1%0.02%598th of 2,246
Retail trade38$5M16.9%0.01%744th of 2,589
Health care & social assistance33$4M13.1%0.01%650th of 2,172
Construction26$3M9.3%0.01%804th of 2,063
Accommodation & food services24$2M8.0%0.00%1181st of 2,596
7(a) lenders into Iowa, share of approvals since FY2008416 lenders on record; the ten largest and Hills Bank
CR Cedar Rapids Bank and Trust Compa… 4.4% $126M · 289 loans LS Lincoln Savings Bank 3.9% $113M · 191 loans WF Wells Fargo Bank National Associa… 3.4% $97M · 411 loans FI First Interstate Bank 3.2% $92M · 181 loans LO Live Oak Banking Company 2.9% $85M · 74 loans UB U.S. Bank, National Association 2.8% $82M · 774 loans NB Northwest Bank 2.7% $79M · 233 loans Fa Farmers and Merchants Savings Bank 2.6% $76M · 148 loans FS Farmers State Bank 2.1% $61M · 277 loans BT Bankers Trust Company 2.1% $60M · 199 loans HB Hills Bank and Trust Company 1.0% $29M · 217 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; Tier 1 stands in for the 4 CBLR filers, Hills Bank among them; owner-occupied excluded; bold marks a screen met
Hills BankRankCohort median
Total CRE against capital, the 300% screen186%3rd of 12242%
Construction against capital, the 100% screen56%7th of 1255%
Construction and land development, share of loans9.7%9th of 128.1%
Non-owner-occupied nonfarm nonresidential, share of loans7.7%2nd of 1220.0%
Total CRE, the guidance definition, share of loans32.1%5th of 1235.1%
CRE growth over 36 months, the third prong+14.3%5th of 12+18.3%

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
Great Southern Bank$5.53B1.3%63.2%0.02%0.04%1.5%100.1%11.0%
Bridgewater Bank$5.38B1.3%51.6%0.49%0.04%1.3%101.3%11.7%
Alerus Financial N.A.$5.28B1.8%63.9%0.26%0.47%1.2%95.8%11.0%
Southern Bank$5.19B1.5%51.2%0.63%0.21%1.2%99.4%10.5%
Dacotah Bank$4.92B1.1%62.2%1.52%0.22%1.2%93.9%9.8%
Hills Bank & Trust Co.$4.79B2.1%44.8%0.40%0.00%1.5%103.8%13.0%
First Bank & Trust$4.78B1.3%60.1%0.42%0.02%1.3%85.7%11.3%
First State Community Bank$4.51B1.8%49.2%1.07%0.12%1.1%91.4%12.5%
Bank of Missouri$4.23B0.9%75.0%1.53%0.84%0.7%88.8%11.7%
Gate City Bank$4.04B0.8%74.6%0.69%0.16%0.7%83.1%9.2%
West Bank$4.03B1.2%46.3%0.00%0.00%1.0%88.0%9.4%
Security Bank of Kansas City$3.86B1.5%48.4%0.03%-0.02%1.6%66.0%11.5%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Hills BankCohort median
20212026Change20212026Change
Loans$2.70B$3.66B+35%$2.32B$3.61B+56%
Deposits$3.32B$3.53B+6%$2.85B$3.97B+39%
NPA / loans0.32%0.40%+0.08 pts0.34%0.45%+0.11 pts
Efficiency52.8%44.8%-8.1 pts57.1%55.9%-1.2 pts
ROA1.46%2.07%+0.61 pts1.48%1.30%-0.18 pts

This read was prepared for Hills Bank & Trust Co.'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 Hills Bank & Trust Co. 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 Plains states banks $3B to $10B
Institution www.hillsbank.com

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by New England 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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