# FIRST HERITAGE BANK
SHENANDOAH, IA · FDIC certificate 4457 · asset band <$300M · latest filing 2026-06 · live

**Verdict on the desk:** this could be *fortress*. Composite score 0 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $72.1M | |
| Deposits | $59.9M | |
| Loans and leases | $55.9M | |
| Total equity | $7.0M | |
| Loans / deposits | 92.20% (p83 of band) | 73.59% |
| Liquid assets / assets | 19.66% (p21 of band) | |
| Uninsured deposits / deposits | 9.04% (p11 of band) | 19.81% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 6.93% (p78 of band) | |
| FHLB advances / assets | 6.93% | |
| Tier 1 leverage | 10.21% (p28 of band) | 11.76% |
| Unrealized securities loss / equity | -4.89% (p57 of band) | -6.57% |
| AOCI / equity | -0.36% (p51 of band) | |
| ROA (annualized) | 1.82% (p80 of band) | 1.17% |
| Net interest margin | 4.33% (p69 of band) | 3.93% |
| Efficiency ratio | 51.82% (p17 of band) | |
| Noncurrent loans | 0.00% (p12 of band) | 0.36% |
| Net charge-offs (annualized) | 0.00% (p38 of band) | |
| Reserve coverage of noncurrent | – | |
| Real estate % of loans | 73% | |
| Construction % of loans | 33.74% (p67 of band) | |
| Auto loans | $1.1M (1.88% of loans; DQ 0.48%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p48 of band) | |
| Deposits YoY | 3.1% | |
| Employees | 9 | |

## Flags firing in the latest filing

- none

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 0 |  |  |
| 2011-06 | 0 |  |  |
| 2011-09 | 0 |  |  |
| 2011-12 | 0 |  |  |
| 2012-03 | 0 |  |  |
| 2012-06 | 0 |  |  |
| 2012-09 | 0 |  |  |
| 2012-12 | 1 | reserve under noncurrent |  |
| 2013-03 | 0 |  | reserve under noncurrent |
| 2013-06 | 1 | AOCI drag >20% of equity |  |
| 2013-09 | 1 |  |  |
| 2013-12 | 1 |  |  |
| 2014-03 | 0 |  | AOCI drag >20% of equity |
| 2014-06 | 0 |  |  |
| 2014-09 | 0 |  |  |
| 2014-12 | 0 |  |  |
| 2015-03 | 0 |  |  |
| 2015-06 | 0 |  |  |
| 2015-09 | 0 |  |  |
| 2015-12 | 0 |  |  |
| 2016-03 | 1 | charge-offs p90 |  |
| 2016-06 | 0 |  | charge-offs p90 |
| 2016-09 | 1 | uninsured deposits leaving |  |
| 2016-12 | 0 |  | uninsured deposits leaving |
| 2017-03 | 1 | uninsured deposits leaving |  |
| 2017-06 | 1 |  |  |
| 2017-09 | 0 |  | uninsured deposits leaving |
| 2017-12 | 0 |  |  |
| 2018-03 | 0 |  |  |
| 2018-06 | 1 | charge-offs p90 |  |
| 2018-09 | 1 | assets shrinking | charge-offs p90 |
| 2018-12 | 2 | deposits shrinking |  |
| 2019-03 | 4 | charge-offs p90, uninsured deposits leaving |  |
| 2019-06 | 1 |  | deposits shrinking, charge-offs p90, uninsured deposits leaving |
| 2019-09 | 1 | uninsured deposits leaving | assets shrinking |
| 2019-12 | 2 | capital falling |  |
| 2020-03 | 1 |  | uninsured deposits leaving |
| 2020-06 | 1 |  |  |
| 2020-09 | 0 |  | capital falling |
| 2020-12 | 0 |  |  |
| 2021-03 | 1 | capital falling |  |
| 2021-06 | 0 |  | capital falling |
| 2021-09 | 0 |  |  |
| 2021-12 | 0 |  |  |
| 2022-03 | 1 | capital falling |  |
| 2022-06 | 2 | AOCI drag >20% of equity, securities losses >30% of equity | capital falling |
| 2022-09 | 2 |  |  |
| 2022-12 | 2 |  |  |
| 2023-03 | 0 |  | AOCI drag >20% of equity, securities losses >30% of equity |
| 2023-06 | 1 | securities losses >30% of equity |  |
| 2023-09 | 2 | wholesale funding >15% |  |
| 2023-12 | 0 |  | securities losses >30% of equity, wholesale funding >15% |
| 2024-03 | 1 | uninsured deposits leaving |  |
| 2024-06 | 0 |  | uninsured deposits leaving |
| 2024-09 | 0 |  |  |
| 2024-12 | 2 | capital falling, uninsured deposits leaving |  |
| 2025-03 | 1 |  | uninsured deposits leaving |
| 2025-06 | 1 | uninsured deposits leaving | capital falling |
| 2025-09 | 1 |  |  |
| 2025-12 | 0 |  | uninsured deposits leaving |
| 2026-03 | 0 |  |  |
| 2026-06 | 0 |  |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-02-18 [List Of Failed Banks: 2009-2026 - Bankrate](https://news.google.com/rss/articles/CBMiZEFVX3lxTFAtbi1TaWMteGEyOHdQbnlXd0tPRzM2WFJQZjdPdzViQTZFLVVHODJRTEdqRWhnMkxIOG5xMUVSWU5iNHZSbVpnQ2Z4TWdiMDVwN2NTdUNGd3dXZ2tGcGZ2VWVJRnM?oc=5) · Bankrate
- 2024-12-04 [List of Recent Failed Banks in the United States (2023-2024) - Norada Real Estate Investments](https://news.google.com/rss/articles/CBMia0FVX3lxTE4zaWFvQzhqc24zdE1QZ1haYnk2b1NsLWxONmNTTV9jVldzbjZqLUM1NV85U3dyaENaUGhWVm0wdllpUlNMZlIteHExdVUzS0JTdXlRWTJiUGJfaEtZSk5wcWhNNG1ZS0U5Y0Vz?oc=5) · Norada Real Estate Investments
- 2025-07-12 [Fire chief’s son dies in farming accident after becoming trapped in equipment - WOWT](https://news.google.com/rss/articles/CBMipgFBVV95cUxNa21xTHpwOTVvMEVRMmN2UHVidDdqc210MGZQZkRGWGVVMElZUmphTU8wdktBRll6SEY2eE5Kb19aZUZ6MVV3Rmo4Q2x3dEZvYVRTRnRJdmxlUU93MHowMTRnUnBoX0pQWDBqVFIySFJDNmJSSWtJaG1hOXFPODg0UWhoUXpRVlotMENlcVI0TG5vcUVqbjVWRnhXM1A3c1VvZFI2a2pB0gG6AUFVX3lxTE1jUkExUGZ3SEZCVExMeVRKcmt5WkZsaEJ5ancyYUFLV0hzWmJoVk5JWXNkV2E0bmNPWTRrVFUyUHZUU0ltQk8zRExPc1JBTGszV2J3TXN2WTc1QWdrYzk0VVVUT2E4aERva0t1Qk5FVDhLNzNuUWNETFZfSVg4eVFkanhSX0g5aFozRThBb2pxSXV5aS1JeHVWWnY1bEhLLU5BSjRPSnB4VXdHNWZCb25TREdUcW5ES2hfZw?oc=5) · WOWT
- 2022-11-03 [99 Counties in 9 Months With Iowa Secretary of Agriculture Mike Naig - Successful Farming](https://news.google.com/rss/articles/CBMirwFBVV95cUxNelJYcWNoT3BoU1ozOHhuQ0xmUUt0MF8tMjZVQmw0Ml9lSWluVWlBUzQyTWNjdVM1Q1ZjSC15cDBPa19MWTlzUlRwS2ZjRWdBcm1QeE9kbklHMHdrbFpCTC1rLVFwazJWZFB5WS1jakF6QjhyZHRnR29DSmZGVHdIV1R5WTAzODhoSFozeTZPV0l2TWFtQ2VBWGFIUXdTTEdmME9WeDlCM2xjUjRQbTVV?oc=5) · Successful Farming
- 2015-02-11 [Clinton Vandall Obituary (2015) - Snohomish, WA - The Herald (Everett) - legacy.com](https://news.google.com/rss/articles/CBMikgFBVV95cUxQdU1uY3d6ZEx3UFpjcFJBczQ0WkFLU2N6VnppNHNQNHdkall3aDdkZFl3eG5EbG9ZcFZVZUJSVVNqbHBRcUxCZHRrbnJXSVFVUW5jdU9kWEVuTDJMYVRQYnE5cXpockxFM1VKT0ZPOGYxSExzNDl3NVc0bUJGVEFQZHFlRzhFTFYwbUxud3NLZTgzQQ?oc=5) · legacy.com

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=4457 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/41.json (key "4457", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide