Heartland State Bank: how it compares with its peers
Against 18 SD banks with half to twice its assets, Heartland State Bank's strongest measure in Q2 2026 is net interest margin (5.25% vs. a 3.68% peer median). Its weakest relative measure is assets per employee ($6.2M vs. $8.2M).
| Measure | Heartland State Bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 2.43% | 1.40% | Top third Ahead of 78% of peers |
| Net interest margin Annualized net interest income over earning assets. | 5.25% | 3.68% | Top third Ahead of 94% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 53.60% | 56.37% | Middle third Ahead of 56% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $6.2M | $8.2M | Bottom third Ahead of 6% of peers |
| Loans to deposits Net loans and leases over total deposits. | 89.85% | 70.25% | Context |
What it means for lending operations
Its efficiency ratio of 53.60% is better than the 56.37% 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
- Citizens State Bank, of Arlington Arlington, SD · $153M
- Great Plains Bank Eureka, SD · $150M
- First State Bank of Roscoe Roscoe, SD · $147M
- Farmers and Merchants State Bank Plankinton, SD · $180M
- DNB NATIONAL BANK Clear Lake, SD · $124M
Questions about Heartland State Bank
How big is Heartland State Bank?
Heartland State Bank, established in 1909, is headquartered in Redfield, SD. It reported $154M in total assets in its Q2 2026 FDIC call report and operates 4 offices.
What is Heartland State Bank's return on assets?
2.43% annualized in Q2 2026, against a 1.40% median for 18 SD banks with half to twice its assets, ahead of 78% of them.
What is Heartland State Bank's efficiency ratio?
53.60% in Q2 2026: it spent about 54 cents in noninterest expense for each dollar of revenue. The peer median is 56.37%, and lower is better.
Is Heartland State Bank growing its loans?
Net loans grew 16.0% over the year to Q2 2026, while deposits grew 9.9%.
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 SD 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 South Dakota bank ranked.