Security Midwest Bancorp (OTCQB: SBMW) is a community banking holding company that operates Security Bank, s.b., a savings bank headquartered in Springfield, Illinois. The company earns money primarily through net interest income, the spread between interest collected on loans and securities and interest paid on deposits. As of December 31, 2025, total assets were $256.5 million, net loans were $117.8 million, and deposits were $196.5 million. The loan portfolio is concentrated in commercial real estate, which totaled $54.4 million, or 45.7% of total loans at December 31, 2025. The company also originates one-to-four family residential mortgages, home equity lines of credit, and home equity loans. Net interest margin was 3.92% for the year ended December 31, 2025, up from 3.48% in 2024. The efficiency ratio was 95.16% for FY2025, reflecting high noninterest expense relative to revenue. Security Midwest Bancorp has not paid any cash dividends as of March 31, 2026, and had 889,781 shares of common stock outstanding at that date.

Revenue model

Net interest income from loans and investment securities, funded by deposits and borrowings. Total interest income was $10.3 million for the year ended December 31, 2025, generated across loans (average yield 6.63%), investment securities (average yield 2.54%), and interest-bearing deposits (average yield 4.07%). The bank carries $35.0 million in borrowings as of December 31, 2025.

Products and services

Commercial real estate loans ($54.4 million, 45.7% of total loan portfolio at December 31, 2025); one-to-four family residential mortgage loans; home equity lines of credit ($3.3 million outstanding at December 31, 2025); home equity loans ($1.5 million outstanding at December 31, 2025); deposit accounts including interest-bearing demand accounts, savings accounts, and certificates of deposit; available-for-sale investment securities ($76.7 million at December 31, 2025); bank-owned life insurance ($2.3 million at December 31, 2025).

Customers and end markets

Retail and commercial depositors and borrowers in the Springfield, Illinois market. No customer concentration data disclosed in the filing excerpts.

Value-chain role

Community savings bank. Originates and holds loans on balance sheet, funds them with retail deposits, and invests excess liquidity in securities. Also originates loans for sale, with gains on sale of loans recorded as noninterest income.

Geographic exposure

Springfield, Illinois. Main office at 510 E. Monroe, Springfield, Illinois, owned, opened 1960. Two branch offices in Springfield at 3001 Chatham Road (owned, opened 2000) and 2500 Stevenson Drive (owned, opened 1998).

Source: SEC 10-K, filed 2026-04-07

Industry: Savings Institutions, Not Federally Chartered