First Heritage Bank: how it compares with its peers
Against 53 IA banks with half to twice its assets, First Heritage Bank's strongest measure in Q2 2026 is return on assets (1.82% vs. a 1.16% peer median). Its weakest relative measure is assets per employee ($8.0M vs. $7.6M).
| Measure | First Heritage Bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 1.82% | 1.16% | Top third Ahead of 91% of peers |
| Net interest margin Annualized net interest income over earning assets. | 4.33% | 3.79% | Top third Ahead of 85% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 51.82% | 61.67% | Top third Ahead of 75% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $8.0M | $7.6M | Middle third Ahead of 56% of peers |
| Loans to deposits Net loans and leases over total deposits. | 92.20% | 68.66% | Context |
What it means for lending operations
Its efficiency ratio of 51.82% is better than the 61.67% peer median. Banks that already run lean usually find their next gains in loan growth: faster digital applications and fewer borrowers abandoning a slow document chase.
Banks closest in size
- First State Bank Nashua, IA · $72M
- Farmers State Bank Yale, IA · $73M
- State Bank Spencer, IA · $75M
- The Farmers State Bank Marcus, IA · $77M
- Citizens Savings Bank Marshalltown, IA · $78M
- Sloan State Bank Sloan, IA · $79M
Questions about First Heritage Bank
How big is First Heritage Bank?
First Heritage Bank, established in 1903, is headquartered in Shenandoah, IA. It reported $72M in total assets in its Q2 2026 FDIC call report and operates 2 offices.
What is First Heritage Bank's return on assets?
1.82% annualized in Q2 2026, against a 1.16% median for 53 IA banks with half to twice its assets, ahead of 91% of them.
What is First Heritage Bank's efficiency ratio?
51.82% in Q2 2026: it spent about 52 cents in noninterest expense for each dollar of revenue. The peer median is 61.67%, and lower is better.
Is First Heritage Bank growing its loans?
Net loans grew 5.8% over the year to Q2 2026, while deposits grew 3.2%.
Sources and method
Figures are from the FDIC’s public call report data for the quarter ending 06/30/2026, via FDIC BankFind. Return on assets and net interest margin are annualized year to date. Peers are IA banks with half to twice its assets in the same quarter, excluding this bank. The page refreshes daily, so new quarters appear as banks file. Compare another bank or see every Iowa bank ranked.