Headwaters State Bank
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Data as of · sourced from FFIEC call reports. How we update
Headwaters State Bank is an FDIC-insured commercial bank headquartered in Land O'Lakes, WI, established in 1921 (FDIC certificate 9035), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $122.5M, up 8.9% from Q2 2025, the 137th largest of 153 banks headquartered in Wisconsin. It reports no CET1 ratio; its Tier 1 leverage ratio was 11.21% at Q2 2026, above the 9% community bank leverage ratio requirement for being considered well capitalized.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 9035
- Headquarters
- Land O'Lakes, WI
- Established
- 1921
- Total assets, Q2 2026
- $122.5M
- Assets vs Q2 2025
- +8.9%
- Tier 1 leverage ratio, Q2 2026
- 11.21%
- Domestic offices
- 2 FDIC institution directory, current count
- Routing number
- 091510428
- Holding company
- LAKE SHORE III CORPORATION
- Asset rank in state
- 137th of 153 in Wisconsin
Headwaters State Bank, based in Land O'Lakes, Wisconsin, reported $122 million in assets at June 30, 2026, up 8.9% from a year earlier. It returns 5.0% a year on shareholders' equity, about a third the median of 12.5% for the 2,660 banks with $100 million to $1 billion in assets. On the other hand, it holds commercial real estate loans equal to only 35% of its capital, about a third the median of 1.2 times for banks its size.
Net income for the quarter rose 12% from a year earlier, to $238,000. Over the same year, loans grew 4.5% and deposits grew 9.5%. Its margin is thin by comparison: it keeps 3.27 cents of net interest income on every dollar of earning assets, lower than about three-quarters of banks its size (median 3.95 cents).
As of June 30, 2026, Headwaters State Bank reported a return on assets of 0.78%, a nonperforming-loan ratio of 6.35% and a Texas ratio of 10.20%. The figures come from its call report filed with the FFIEC.
Headwaters State Bank ranks as the 137th largest of the 153 banks based in Wisconsin, by total assets at Q2 2026. Between Q1 2026 and Q2 2026, its total assets rose 2.4% to $122.5M, loans rose 0.4% and deposits rose 2.5%. Its loan book on June 30, 2026 was led by owner-occupied commercial real estate loans, at 45.1% of total loans, followed by 1-4 family residential loans at 35.3%. Its 2 offices in the FDIC Summary of Deposits are in Land O' Lakes, WI and Presque Isle, WI; its Land O' Lakes office books 86% of its branch deposits. Judged on its Q2 2026 call report, Headwaters State Bank meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- 4175 County Road B, Land O'Lakes, WI 54540
- County
- Vilas
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Chicago (Region 9)
- Federal Reserve member
- No
- Federal Reserve district
- District 9, Minneapolis
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 051
- Established
- September 1, 1921
- Domestic offices
- 2 FDIC institution directory, current count
- Employees (FTE)
- 15
- Domestic deposits
- $102.9M
- Allowance for credit losses
- $878K
- Net charge-offs (YTD)
- $4K
- Average total assets
- $121.4M
- Average total loans
- $80.2M
- Average interest-bearing deposits
- $94.7M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 9035
- Fed RSSD
- 224954
- SEC CIK
- 1596430 → filed by LAKE SHORE III CORPORATION
- Website
- www.headwatersstatebank.com →
- Parent Holding Company
- LAKE SHORE III CORPORATION (RSSD 4465559)
Profitability
Q2 annualizedBalance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. As a community bank leverage ratio filer, Headwaters State Bank reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
Headwaters State Bank's total assets moved between a low of $92.4M (Q2 2024) and a high of $122.5M (Q2 2026) from Q3 2023 to Q2 2026, and it earned a profit in 11 of the 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$122.5M total assets against $112.5M; $103.1M total liabilities against $94.1M.
$79.7M net loans and leases against $76.4M; $102.9M total deposits against $93.9M.
$21.1M securities against $18.3M; $13.1M cash and balances due against $9.3M.
$1.5M total interest income against $1.4M; $611K total interest expense against $586K.
$907K net interest income against $861K.
$36K total noninterest income against $56K; $618K total noninterest expense against $633K.
$27K provision for credit losses against $25K.
$238K net income against $213K.
0.78% return on assets against 0.76%; 3.27% net interest margin against 3.41%.
11.21% tier 1 leverage ratio against 11.14%.
Inside the full Headwaters State Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Nonperforming loans (nonaccrual loans plus loans 90 or more days past due) exceed 3% of total loans. BankRegReports band at 3% of total loans.
Headwaters State Bank rankings
Its closest position to the top of a national ranking is 623 of 3,640, for Texas Ratio; its furthest is 3,499 of 4,196, for total assets.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from 0.69% (Q4 2024) to 1.03% (Q3 2024) and its net interest margin ran from 3.27% (Q2 2026) to 3.68% (Q3 2024).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 11.21% | 0.78% | 6.35% | 10.20% | 3.27% |
| Q1 2026 | 11.08% | 0.89% | 6.33% | 10.20% | 3.28% |
| Q4 2025 | 11.19% | 0.86% | 6.19% | 8.76% | 3.34% |
| Q3 2025 | 11.10% | 0.95% | 6.33% | 9.18% | 3.44% |
| Q2 2025 | 11.14% | 0.76% | 6.48% | 10.23% | 3.41% |
| Q1 2025 | 10.90% | 0.91% | 6.71% | 10.59% | 3.29% |
| Q4 2024 | 11.05% | 0.69% | 6.71% | 11.18% | 3.28% |
| Q3 2024 | 12.35% | 1.03% | 7.24% | 11.92% | 3.68% |
Swipe the table sideways to see every column.
Branch Network
View all 2 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Headwaters State Bank (main office) | Land O' Lakes , WI | 54540 | $89.0M |
| Presque Isle Branch | Presque Isle , WI | 54557 | $13.9M |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- <0.1% of deposits in WI, rank 153 of 185 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Not on file
- Enforcement actions, Mortgage lending (HMDA), SBA 7(a) lending, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about Headwaters State Bank
What are Headwaters State Bank's total assets?
As of the Q2 2026 filing, Headwaters State Bank reported total assets of $122.5 million in its FFIEC call report.
Where is Headwaters State Bank headquartered?
It is headquartered in Land O'Lakes, WI, United States.
When was Headwaters State Bank founded?
It was established in 1921, per the FDIC institution directory.
Is Headwaters State Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #9035). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Headwaters State Bank?
Headwaters State Bank's primary federal regulator is the FDIC.
How many branches does Headwaters State Bank operate?
It operates 2 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Headwaters State Bank's Texas Ratio?
Its Texas Ratio is 10.20% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
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