TellerScore

First Bank is a state-chartered bank (fed member) headquartered in Waverly, Iowa, in business for about 162 years. At the end of Q2 2026 it reported $739.9M in total assets and $619.8M in deposits, with 8 offices.

First Bank has a TellerScore of 78 out of 100 (strong) based on Q2 2026 data — higher than 72% of its 2,650 banks with $100 million – $1 billion. Among 226 banks headquartered in Iowa, it ranks 70th. Problem-loan coverage contributes the most (94/100, 3.2%); funding & liquidity contributes the least (60/100, 90% loans-to-deposits, 24% uninsured).

TellerScore · Q2 2026

Scorecard

Capital cushion77/100
Tier 1 leverage ratio: 12.72%
Loan quality82/100
Noncurrent loans ÷ total loans: 0.54%
Earnings81/100
Return on assets (annualized): 1.54%
Funding & liquidity60/100
Loans ÷ deposits and uninsured-deposit share: 90.0% · 24.4% uninsured
Problem-loan coverage94/100
"Texas ratio": (noncurrent loans + foreclosed property) ÷ (equity + loan-loss reserves): 3.20%

The TellerScore is our own summary of the figures this institution reports publicly; it is not issued or endorsed by any government agency. It is not a prediction, and deposits within insurance limits are protected either way.

9 quarters

Health trend

From Q2 2025 to Q2 2026, the score rose 6 points (72 → 78), mostly because the earnings component improved by 14 points.

TellerScore
717578Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterTellerScore
Q2 202473
Q3 202473
Q4 202473
Q1 202574
Q2 202572
Q3 202571
Q4 202574
Q1 202677
Q2 202678
Tier 1 leverage ratio
5.00%8.86%12.72%well-capitalized benchmarkQ2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterTier 1 leverage ratio
Q2 202411.08%
Q3 202411.20%
Q4 202411.19%
Q1 202511.43%
Q2 202511.73%
Q3 202511.99%
Q4 202512.15%
Q1 202612.48%
Q2 202612.72%
Noncurrent loans
0.08%0.40%0.73%Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterNoncurrent loans
Q2 20240.11%
Q3 20240.08%
Q4 20240.11%
Q1 20250.14%
Q2 20250.59%
Q3 20250.73%
Q4 20250.59%
Q1 20260.54%
Q2 20260.54%
Return on assets
0.83%1.18%1.54%Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterReturn on assets
Q2 20240.83%
Q3 20240.88%
Q4 20240.94%
Q1 20251.01%
Q2 20251.18%
Q3 20251.22%
Q4 20251.24%
Q1 20261.46%
Q2 20261.54%
Quarter-by-quarter figures
QuarterScoreAssetsCapitalProblem loansROALoans/deposits
Q2 202678$739.9M12.72%0.54%1.54%90.0%
Q1 202677$747.7M12.48%0.54%1.46%88.9%
Q4 202574$729.5M12.15%0.59%1.24%89.2%
Q3 202571$735.2M11.99%0.73%1.22%92.3%
Q2 202572$726.8M11.73%0.59%1.18%86.7%
Q1 202574$747.6M11.43%0.14%1.01%83.3%
Q4 202473$734.9M11.19%0.11%0.94%82.8%
Q3 202473$731.8M11.20%0.08%0.88%82.2%
Q2 202473$715.6M11.08%0.11%0.83%82.5%

2,650 peers · $100 million – $1 billion

How it compares with peers

Percentile against banks of similar size nationwide (100th = best among peers; for ratios where lower is better, the scale is flipped).

Capital ratio12.72%
72nd
Total risk-based capital18.63%
83rd
Problem loans0.54%
44th
Net charge-offs0.00%
54th
Return on assets1.54%
67th
Net interest margin3.82%
43rd
Efficiency ratio48.0%
87th
Loans to deposits90.0%
26th
Uninsured deposits24.4%
48th
Loan-loss reserves1.22%
54th
Texas ratio3.2%
46th

Similar-size banks in Iowa

InstitutionScoreAssetsCapitalProblem loansCompare
Manufacturers Bank & Trust CompanyBank Forest City, IA68 out of 100, Moderate$738.2M10.4%0.94%vs
Green Belt Bank & TrustBank Iowa Falls, IA71 out of 100, Strong$758.7M9.2%0.04%vs
Midwest Heritage Bank, FSBBank West Des Moines, IA68 out of 100, Moderate$768.3M12.8%1.78%vs
First Central State BankBank Dewitt, IA83 out of 100, Strong$772.4M13.4%0.21%vs
City State BankBank Norwalk, IA72 out of 100, Strong$787.9M9.4%0.27%vs
Decorah Bank & Trust CompanyBank Decorah, IA74 out of 100, Strong$794.1M10.4%0.49%vs

Deposit insurance

Is my money safe at First Bank?

Yes. First Bank is an FDIC-insured institution (FDIC certificate #4519). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.

An estimated 24.4% of deposits ($151.4M) are above the $250,000 FDIC insurance limit, close to the peer median of 24%. Insured balances are protected regardless of the score.

The tier 1 leverage ratio is 12.72%, well above the 5% level regulators use as the "well capitalized" benchmark for this measure. Its total risk-based capital ratio is 18.63% (benchmark: 10%).

Check how much of your own balance is covered

8 locations

Branches

First Bank lists 7 offices in 6 cities. Most locations:

  • Waverly, IA (2)
  • Cedar Falls, IA (1)
  • Clarion, IA (1)
  • Eagle Grove, IA (1)
  • Goldfield, IA (1)
  • Plainfield, IA (1)

All branch addresses and map

HMDA 2025

Mortgage lending

In 2025, First Bank reported 181 home-loan applications under HMDA (LEI 549300CWJ74FF73VDL12): 162 originated ($32,420,000 total), 4 denied, and 13 withdrawn or closed by the applicant. Its denial rate on decided applications was 2.4%, compared with 22.2% for all lenders nationwide.

Denial rates depend heavily on loan type and applicant mix and are not a measure of fairness or of your own odds.

Identity & history

Profile

Legal name
First Bank
Former names
The First National Bank of Waverly; First National Bank
Type
State-chartered bank (Fed member)
FDIC certificate #
4519
RSSD ID
376442
Primary regulator
FED
Holding company
First of Waverly Corp
Established
January 1, 1864
Headquarters
316 E Bremer Ave, Waverly, IA 50677
Employees
81

Quick answers

First Bank: common questions

Is First Bank FDIC insured?

Yes. First Bank is an FDIC-insured institution (FDIC certificate #4519). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.

What is First Bank's TellerScore?

78 out of 100 (Strong), based on its Q2 2026 publicly reported figures. The TellerScore is our own summary and is not issued by any government agency.

Has First Bank ever failed?

There is no failure record for FDIC certificate #4519 in the FDIC failed bank list.

How many branches does First Bank have?

8 offices as of the latest FDIC data.

Nearby

Highest-scoring banks and credit unions with branches near Waverly

InstitutionScoreAssetsCapitalProblem loansCompare
Waterloo Firemen'S Credit UnionCredit union Waterloo, IA90 out of 100, Very strong$2.9M13.3%0.00%vs
Cedar Rapids Bank and Trust CompanyBank Cedar Rapids, IA87 out of 100, Very strong$2.9B16.9%0.54%vs
Cedar Falls Community Credit UnionCredit union Cedar Falls, IA80 out of 100, Strong$251.7M15.9%0.78%vs
Heartland Bank and Trust CompanyBank Bloomington, IL80 out of 100, Strong$6.7B11.9%0.19%vs
First State BankBank Nashua, IA79 out of 100, Strong$72.5M10.7%0.00%vs
Security State BankBank Sutherland, IA77 out of 100, Strong$492.3M11.1%0.23%vs