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Q2 2026 · read from the 30 June 2026 Call Report · United States · Great Lakes · Wisconsin, the state note

National Exchange Bank & Trust

Fond Du Lac, Wisconsin · $2.89B in assets · beside the 11 other Wisconsin banks between $1B and $3B

The filing

19.8%
Equity / assets
1st of 12
49.4%
Efficiency
1st of 12
8.1x
Coverage of noncurrent
1st of 12

National Exchange Bank & Trust is the largest of the 12 Wisconsin banks nearest its size between $1B and $3B, with $2.89B in assets at 30 June 2026. Loans are 75.3% of deposits, 2nd of 12 against a median of 94.6%, and equity is 19.8% of assets, the highest in the cohort. Loans grew +1.1% in the year, 10th of 12, and deposits fell 2.9%; the cohort's median loan growth is +4.0%.

Noncurrent loans are 0.37% of the book, 5th of 12 against a median of 0.54%; 0.11% is 30 to 89 days past due, and the allowance covers them 8.1 times. Commercial real estate is 46.5% of loans, 7th of 12 against a median of 45.7%, and 133% of capital, below the 300% screen, with construction at 25% against the 100% screen.

Return on assets is 1.67%, 3rd of 12 against a median of 1.30%, on an efficiency ratio of 49.4%, the lowest in the cohort. Five years ago it was 1.20%. The question this shape raises is what the liquidity earns, and what a rate path does to the securities book and the deposit base.

The efficiency ratioWI banks $1B to $3B · 30 June 2026 · lower is stronger, listed first
median 61.8% NE National Exchange Bank & Trust 49.4% NB National Bank of Commerce 51.5% OC One Community Bank 52.9% WS Waukesha State Bank 55.6% BF Bank Five Nine 58.6% CN Ccfbank National Association 60.6% I Incrediblebank 63.0% HB Horicon Bank 63.3% NS North Shore Bank 69.9% PB Park Bank 71.3% TC Tri City National Bank 72.9% WB Waterstone Bank SSB 75.5%
Loans, year over yearWI banks $1B to $3B · 30 June 2026 · no better direction, largest first
median +4.0% OC One Community Bank +18.2% BF Bank Five Nine +7.7% WS Waukesha State Bank +7.4% NS North Shore Bank +7.1% HB Horicon Bank +6.3% I Incrediblebank +5.6% CN Ccfbank National Association +2.4% PB Park Bank +1.6% NB National Bank of Commerce +1.4% NE National Exchange Bank & Trust +1.1% TC Tri City National Bank +0.6% WB Waterstone Bank SSB +0.5%

SBA 7(a), FY2008 to FY2026

National Exchange Bank & Trust is the 22nd largest 7(a) lender into Wisconsin of 426, with $70M across 134 loans, 0.8% of everything approved in the state (Byline Bank leads with $864M). 16 of its 23 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Wisconsin, 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
Fond Du Lac, WI$21M2nd of 5611.7%-15.1 pts
Waukesha, WI$7M20th of 1220.6%-2.5 pts
Milwaukee, WI$6M40th of 1440.4%thin
Sheboygan, WI$6M10th of 591.6%quiet FY2018
Washington, WI$5M16th of 751.4%thin
Calumet, WI$5M5th of 306.3%quiet FY2017
Winnebago, WI$4M20th of 761.5%quiet FY2021
Dodge, WI$3M9th of 392.4%+8.1 pts
Jefferson, WI$2M18th of 491.9%quiet FY2022
Outagamie, WI$2M31st of 910.6%quiet FY2018
Marquette, WI$2M4th of 199.1%thin
Green Lake, WI$2M4th of 2210.2%quiet FY2022
Kenosha, WI$2M32nd of 680.8%quiet FY2018
10 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
Manufacturing18$13M18.2%0.03%399th of 2,246
Retail trade19$10M14.6%0.02%477th of 2,589
Accommodation & food services24$10M13.9%0.01%573rd of 2,596
Wholesale trade9$7M10.5%0.03%351st of 1,651
Other services19$7M9.9%0.02%434th of 2,248
7(a) lenders into Wisconsin, share of approvals since FY2008426 lenders on record; the ten largest and National Exchange
BB Byline Bank 9.3% $864M · 860 loans BF Bank Five Nine 7.9% $733M · 1,782 loans BF Bank First, N.A. 4.7% $437M · 963 loans UB UMB Bank, National Association 3.8% $355M · 672 loans UB U.S. Bank, National Association 3.5% $324M · 1,831 loans NN Nicolet National Bank 3.2% $296M · 741 loans ON Old National Bank 3.0% $279M · 390 loans AB Associated Bank National Associat… 3.0% $278M · 2,089 loans LO Live Oak Banking Company 2.6% $246M · 206 loans SC Summit CU 2.6% $244M · 1,034 loans NE National Exchange Bank and Trust 0.7% $70M · 134 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; Tier 1 stands in for the 5 CBLR filers, National Exchange among them; owner-occupied excluded; bold marks a screen met
National ExchangeRankCohort median
Total CRE against capital, the 300% screen133%1st of 12272%
Construction against capital, the 100% screen25%4th of 1237%
Construction and land development, share of loans8.7%8th of 126.6%
Non-owner-occupied nonfarm nonresidential, share of loans32.1%11th of 1219.6%
Total CRE, the guidance definition, share of loans46.5%7th of 1245.7%
CRE growth over 36 months, the third prong-7.6%1st of 12+15.6%

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
National Exchange Bank & Trust$2.89B1.7%49.4%0.37%-0.07%3.0%75.3%19.8%
One Community Bank$2.63B1.3%52.9%0.58%0.00%1.0%107.8%12.7%
North Shore Bank$2.61B1.0%69.9%0.10%0.02%0.7%95.1%15.3%
Bank Five Nine$2.53B1.3%58.6%1.91%0.03%0.6%97.9%9.6%
Waterstone Bank SSB$2.25B1.3%75.5%0.36%0.00%1.0%124.9%14.7%
National Bank of Commerce$2.23B2.0%51.5%0.64%0.05%1.0%92.9%9.8%
Incrediblebank$2.10B1.1%63.0%0.89%0.11%1.1%89.9%7.7%
Tri City National Bank$1.95B0.8%72.9%0.51%0.04%1.2%66.7%9.7%
Ccfbank National Association$1.81B0.7%60.6%2.28%0.23%1.9%87.6%12.0%
Horicon Bank$1.65B1.4%63.3%0.93%0.01%1.3%96.7%10.3%
Waukesha State Bank$1.62B2.4%55.6%0.25%0.01%0.9%94.0%10.9%
Park Bank$1.54B0.7%71.3%0.24%0.00%1.2%104.8%10.2%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
National ExchangeCohort median
20212026Change20212026Change
Loans$1.18B$1.70B+44%$1.11B$1.65B+48%
Deposits$2.04B$2.26B+10%$1.29B$1.76B+37%
NPA / loans0.49%0.37%-0.12 pts0.45%0.54%+0.10 pts
Efficiency53.8%49.4%-4.5 pts57.4%61.8%+4.4 pts
ROA1.20%1.67%+0.47 pts1.36%1.30%-0.06 pts

This read was prepared for National Exchange Bank & Trust'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 National Exchange Bank & Trust 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 WI banks $1B to $3B
Institution www.nebat.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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