Citizens State Bank of Hayfield

Headquarters

216 1st Avenue Ne
Hayfield, MN 55940
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.25% 0.91% →
1-Year CD 0.45% 0.85% →
2-Year CD 0.50% 0.95% →
5-Year CD 0.80% 1.30% →
30-Year Mortgage N.A. 2.61% →
15-Year Mortgage N.A. 2.31% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Citizens State Bank of Hayfield is an FDIC insured institution located in Hayfield, MN. It was founded in 1910 and has approximately $0.1 billion in assets. Customers can open an account at one of its 3 branches.

FDIC Insured Yes
FDIC Certificate # 10957
Date Established 1910
Assets $ 104.18 million
Loans $ 69.48 million
Deposits $ 94.19 million
Capital $ 8.54 million
 

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

Deposit Rates - November 29, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.25% $1 - Learn More
Money Market
0.25% $2,500 $19,999 Learn More
Money Market
0.25% $20,000 $99,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.25% $2,500 $19,999 Learn More
6 Mo CD
0.45% $20,000 - Learn More
12 Mo CD
0.25% $500 $19,999 Learn More
12 Mo CD
0.45% $20,000 - Learn More
24 Mo CD
0.30% $500 $19,999 Learn More
24 Mo CD
0.50% $20,000 - Learn More
36 Mo CD
0.50% $500 $19,999 Learn More
36 Mo CD
0.70% $20,000 - Learn More
60 Mo CD
0.60% $500 $19,999 Learn More
60 Mo CD
0.80% $20,000 - Learn More

Variable IRA Rates APY MIN MAX
Var IRA
1.00% $1 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.10% $900 - Learn MoreShow Less
 

Loan Rates - November 29, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Citizens State Bank of Hayfield

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AmeriSave Mortgage Corporation
NMLS ID: 1168
2.687% 2.625% 0.63 $2,015 $1,005 Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.557% 2.500% 0.75 $1,880 $988 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info

Note to Citizens State Bank of Hayfield
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Branches

Citizens State Bank of Hayfield 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:
Fairfield,Connecticut


Citizens State Bank of Hayfield Locations


Financial Details

Citizens State Bank of Hayfield Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Citizens State Bank of Hayfield. 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 State Bank of Hayfield U.S. Bank Average
42.77% 6.94%

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 March 31, 2020, Citizens State Bank of Hayfield had $3,849,000 in non-current loans and $112,000 in owned real estate. To cover these potential losses it had $8,540,000 in equity and $722,000 in loans loss reserves. That gives it a Texas Ratio of 42.77%.

Return on Equity
Citizens State Bank of Hayfield U.S. Bank Average
1.66% 7.80%

Citizens State Bank of Hayfield has a Return on Equity of 1.66% versus the BestCashCow average of 7.80%. 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 State Bank of Hayfield U.S. Bank Average
8.2% 12.68%

Citizens State Bank of Hayfield has a Capitalization of 8.2% versus the BestCashCow average of 12.68. 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 State Bank of Hayfield Balance Sheet Analysis

As of March 31, 2020, Citizens State Bank of Hayfield had assets of $104,182,000, loans of $69,475,000, and deposits of $94,185,000. 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

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 10.17 million
Interest-bearing balances $ 8.65 million
Total securities $ 19.31 million
Federal funds sold and reverse repurchase $ 1.86 million
Net loans and leases $ 69.48 million
Loan loss allowance $ 0.72 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.11 million
Goodwill and other intangibles $ 0.01 million
All other assets $ 2.12 million
     Total Assets $ 95.64 million
LIABILITIES
Total deposits $ 94.19 million
      Interest-bearing deposits $ 67.55 million
      Deposits held in domestic offices $ 94.19 million
      % insured (estimated) 88.38%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 1.17 million
Subordinated debt N.A.
All other liabilities $ 0.29 million
      Total Liabilities $ 95.64 million
      Shareholders’ Equity $ 8.54 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 1.09 million
Total Interest Expense $ 0.14 million
Net interest income $ 0.95 million
Provision for loan and lease losses $ 0.20 million
Total non interest income $ 0.07 million
Total non interest expense $ 0.78 million
Pre-tax Net Operating Income $ 0.05 million

Bank Loan Profile?

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

Compared to other banks, Citizens State Bank of Hayfield’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 16.60
Multifamily
Mortgages
1.82
Credit Card Loans 0.00
Consumer Auto Loans 2.78
Small Business Loans 5.61
Construction and Development Loans 6.73
Commercial Real Estate 11.42
Commercial and Industrial Loans 20.94
Farm Loans 18.50

Frequently Asked Questions About Citizens State Bank Of Hayfield

Branches and Savings

Is Citizens State Bank Of Hayfield FDIC insured?

Yes. It is covered under FDIC Certificate #10957.

Why does Citizens State Bank Of Hayfield pay such low interest on savings accounts?

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

Why are Citizens State Bank Of Hayfield CD rates not competitive?

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

Is Citizens State Bank Of Hayfield a commercial bank?

Yes

Where are Citizens State Bank Of Hayfield locations?

See branch locations nearby.

Is Citizens State Bank Of Hayfield open on Saturdays?

Is Citizens State Bank Of Hayfield open on Sundays?

What time does Citizens State Bank Of Hayfield open?

What time does Citizens State Bank Of Hayfield close?

Are Citizens State Bank Of Hayfield ATMs Open 24/7?

Do Citizens State Bank Of Hayfield ATMs accept cash deposits?

Can Citizens State Bank Of Hayfield customers use other ATMs?

Do Citizens State Bank Of Hayfield branches have notaries?

Will Citizens State Bank Of Hayfield notarize my document?

What address for Citizens State Bank Of Hayfield should I put for incoming ACH transfers?

Will the Citizens State Bank Of Hayfield branch print checks?

Do Citizens State Bank Of Hayfield checks expire?

Does Citizens State Bank Of Hayfield require US citizenship to open account?

Can Citizens State Bank Of Hayfield close my account?

Does Citizens State Bank Of Hayfield Report to credit bureaus?

Does Citizens State Bank Of Hayfield Use Equifax?

What is Citizens State Bank Of Hayfield's ACH Routing Number?

What is Citizens State Bank Of Hayfield's SWIFT code?

Products

Does Citizens State Bank Of Hayfield offer mortgages?

Compare mortgage rates here.

Does Citizens State Bank Of Hayfield offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Citizens State Bank Of Hayfield offer personal loans?

Compare personal loan rates here.

Does Citizens State Bank Of Hayfield offer student loans?

Will Citizens State Bank Of Hayfield cash a check?

Will Citizens State Bank Of Hayfield redeem a savings bond?

Does Citizens State Bank Of Hayfield cash savings bonds?

Will Citizens State Bank Of Hayfield cash money orders?

Can Citizens State Bank Of Hayfield issue a money order?

Does Citizens State Bank Of Hayfield do currency exchange?

Background on The Bank

Who owns Citizens State Bank Of Hayfield?

How long has Citizens State Bank Of Hayfield been around?

Can Citizens State Bank Of Hayfield transfer to other banks?

Does Citizens State Bank Of Hayfield have quick pay?

Does Citizens State Bank Of Hayfield accept rolled coins?

Will Citizens State Bank Of Hayfield accept loose change?

Where is Citizens State Bank Of Hayfield headquarters?

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