Headwaters State Bank
Land O' Lakes, Wisconsin, Vilas County
$122M in total assets, the 3,562nd largest of 4,309 US banks and 138th of 155 headquartered in Wisconsin.
- FDIC certificate
- 9035
- Established
- 1921
- Owned by
- Lake Shore Iii Corp
- Primary regulator
- FDIC
- Website
- www.headwatersstatebank.com
At a glance
Compared with 109 banks headquartered in Wisconsin with $100 million to $1 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $122M | 4% | $345M | |
| Loans | $81M | 6% | $248M | |
| Deposits | $103M | 6% | $288M | |
| Return on assets | 0.88% | 20% | 1.28% | |
| Net interest margin | 3.33% | 19% | 3.86% | |
| Efficiency ratio | 60.3% | 48% | 60.7% | |
| Equity to assets | 15.80% | 92% | 10.38% | |
| Loans to deposits | 78% | 28% | 86% |
Growth
Total assets grew 8.8% a year over the last 5 years and 6.6% a year over 10 years, without acquisitions.
Where they operate
2 branches in 1 county.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Vilas County, WI | $103M | 11.8% | 4 of 11 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
No change since 2016. The bank has operated 2 branches throughout, with none opened, acquired, closed or sold.
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Commercial real estate | 45% | 28% | |
| 1-4 family residential | 35% | 32% | |
| Business (C&I) | 9% | 10% | |
| Construction and land | 6% | 7% | |
| Consumer | 2% | 2% | |
| Farmland | 0% | 8% | |
| Multifamily | 0% | 8% | |
| Agricultural | 0% | 3% | |
| Other | 2% | 2% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Time deposits | 52% | 33% | |
| Other interest-bearing | 33% | 48% | |
| Noninterest-bearing | 15% | 19% |
Brokered deposits are 15.5% of deposits (peers 5.5%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 1.70% | 0.22% |
| Net charge-offs, annualized | 0.01% | 0.00% |
| Reserves to loans | 1.09% | 1.15% |
| Leverage ratio | 11.21% | 10.93% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Wisconsin
Largest competitors in Vilas County, WI
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/headwaters