DEAR SHAREHOLDERS:
What an exciting year 2025 was for NWSB
Over the past several years, we have discussed the strategic initiatives designed to grow the bank, and 2025 was the year those efforts began to deliver meaningful results. In Mr. Applegate’ s and Mr. Daily’ s letters, you have already read about our new partnership with State Bank of Medora and several of the other accomplishments we achieved last year. Financially, we also reached new milestones, both through that partnership and through strong organic growth in our legacy markets.
NWSB ended 2025 with more than $ 765 million in total assets, a 30 % increase from year-end 2024, or roughly $ 180 million. Throughout the year, we helped existing customers pursue their goals, supported new projects, and welcomed new customers across our markets. Total loans grew by more than $ 90 million, or 22 %, to more than $ 496 million. At the same time, NWSB continued to serve as a trusted depository institution for both new and existing customers, resulting in deposit growth of more than $ 150 million, or 28 %.
That overall growth includes our new partnership with State Bank of Medora, but it is also important to highlight the strong performance in our legacy markets alone. Year over year, total assets in those markets increased by nearly $ 80 million, or 13 %. Loans grew by more than $ 46 million, or 11.5 %, and deposits increased by more than $ 70 million, or 13 %.
With the Medora partnership, the initiatives outlined by Mr. Applegate, continued growth in customer loans and deposits, and the talented employees we have and continue to add, we believe NWSB is well positioned to sustain the high level of performance our employees and shareholders have come to expect.
On behalf of the entire NWSB team and me, thank you for your continued support of NWSB.
2025 NWSB Annual Report | 7