Citizens Bank Minnesota

Headquarters

105 N Minnesota St
New Ulm, MN 56073
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.65% →
1-Year CD N.A. 0.70% →
2-Year CD N.A. 0.75% →
5-Year CD N.A. 1.15% →
30-Year Mortgage 3.60% 2.72% →
15-Year Mortgage 3.31% 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

Citizens Bank Minnesota is an FDIC insured institution located in New Ulm, MN. It was founded in 1875 and has approximately $0.53 billion in assets. Customers can open an account at one of its 4 branches.

FDIC Insured Yes
FDIC Certificate # 8200
Date Established 1875
Assets $ 534.64 million
Loans $ 311.04 million
Deposits $ 473.69 million
Capital $ 50.34 million
 

For a more detailed analysis of Citizens Bank Minnesota's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - June 13, 2021

Your Current Location: Virginia, VA 20146

 

Loan Rates - June 13, 2021

Your Current Location: Virginia, VA 20146

Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

Citizens Bank Minnesota branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Citizens Bank Minnesota Locations


Financial Details

Citizens Bank Minnesota Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Citizens Bank Minnesota. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Citizens Bank Minnesota U.S. Bank Average
0.77% 5.49%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2020, Citizens Bank Minnesota had $301,000 in non-current loans and $106,000 in owned real estate. To cover these potential losses it had $50,343,000 in equity and $2,457,000 in loans loss reserves. That gives it a Texas Ratio of 0.77%.

Return on Equity
Citizens Bank Minnesota U.S. Bank Average
10.26% 9.24%

Citizens Bank Minnesota has a Return on Equity of 10.26% versus the BestCashCow average of 9.24%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Citizens Bank Minnesota U.S. Bank Average
9.42% 11.96%

Citizens Bank Minnesota has a Capitalization of 9.42% versus the BestCashCow average of 11.96. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Citizens Bank Minnesota Balance Sheet Analysis

As of December 31, 2020, Citizens Bank Minnesota had assets of $534,641,000, loans of $311,040,000, and deposits of $473,690,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 37.51 million
Interest-bearing balances $ 30.06 million
Total securities $ 162.55 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 311.04 million
Loan loss allowance $ 2.46 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.11 million
Goodwill and other intangibles $ 3.60 million
All other assets $ 14.59 million
     Total Assets $ 484.30 million
LIABILITIES
Total deposits $ 473.69 million
      Interest-bearing deposits $ 444.26 million
      Deposits held in domestic offices $ 473.69 million
      % insured (estimated) 76.60%
Federal funds purchased and repurchase agreements $ 6.47 million
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 4.14 million
      Total Liabilities $ 484.30 million
      Shareholders’ Equity $ 50.34 million

Summary Income Statement

December 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 18.02 million
Total Interest Expense $ 3.42 million
Net interest income $ 14.61 million
Provision for loan and lease losses $ 0.08 million
Total non interest income $ 4.71 million
Total non interest expense $ 12.58 million
Pre-tax Net Operating Income $ 6.66 million

Bank Loan Profile?

The top three loan types in Citizens Bank Minnesota’s loan portfolio are 1-4 Family Residential Loans, Farm Loans, and Commercial and Industrial Loans.

Compared to other banks, Citizens Bank Minnesota’s loan portfolio does not show any specific loan specialty.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 33.23
Multifamily
Mortgages
0.77
Credit Card Loans 0.00
Consumer Auto Loans 1.12
Small Business Loans 4.05
Construction and Development Loans 0.74
Commercial Real Estate 7.93
Commercial and Industrial Loans 11.19
Farm Loans 15.99

Frequently Asked Questions About Citizens Bank Minnesota

Branches and Savings

Is Citizens Bank Minnesota FDIC insured?

Yes. It is covered under FDIC Certificate #8200.

Why does Citizens Bank Minnesota pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Citizens Bank Minnesota CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Citizens Bank Minnesota a commercial bank?

Yes

Where are Citizens Bank Minnesota locations?

See branch locations nearby.

Is Citizens Bank Minnesota open on Saturdays?

Is Citizens Bank Minnesota open on Sundays?

What time does Citizens Bank Minnesota open?

What time does Citizens Bank Minnesota close?

Are Citizens Bank Minnesota ATMs Open 24/7?

Do Citizens Bank Minnesota ATMs accept cash deposits?

Can Citizens Bank Minnesota customers use other ATMs?

Do Citizens Bank Minnesota branches have notaries?

Will Citizens Bank Minnesota notarize my document?

What address for Citizens Bank Minnesota should I put for incoming ACH transfers?

Will the Citizens Bank Minnesota branch print checks?

Do Citizens Bank Minnesota checks expire?

Does Citizens Bank Minnesota require US citizenship to open account?

Can Citizens Bank Minnesota close my account?

Does Citizens Bank Minnesota Report to credit bureaus?

Does Citizens Bank Minnesota Use Equifax?

What is Citizens Bank Minnesota's ACH Routing Number?

What is Citizens Bank Minnesota's SWIFT code?

Products

Does Citizens Bank Minnesota offer mortgages?

Compare mortgage rates here.

Does Citizens Bank Minnesota offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Citizens Bank Minnesota offer personal loans?

Compare personal loan rates here.

Does Citizens Bank Minnesota offer student loans?

Will Citizens Bank Minnesota cash a check?

Will Citizens Bank Minnesota redeem a savings bond?

Does Citizens Bank Minnesota cash savings bonds?

Will Citizens Bank Minnesota cash money orders?

Can Citizens Bank Minnesota issue a money order?

Does Citizens Bank Minnesota do currency exchange?

Background on The Bank

Who owns Citizens Bank Minnesota?

How long has Citizens Bank Minnesota been around?

Can Citizens Bank Minnesota transfer to other banks?

Does Citizens Bank Minnesota have quick pay?

Does Citizens Bank Minnesota accept rolled coins?

Will Citizens Bank Minnesota accept loose change?

Where is Citizens Bank Minnesota headquarters?

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