First Minnesota Bank

Headquarters

4625 County Highway 101
Minnetonka, MN 55345
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.05% →
1-Year CD N.A. 0.95% →
2-Year CD N.A. 1.05% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

First Minnesota Bank is an FDIC insured institution located in Minnetonka, MN. It was founded in 1881 and has approximately $0.35 billion in assets. Customers can open an account at one of its 11 branches.

FDIC Insured Yes
FDIC Certificate # 5151
Date Established 1881
Assets $ 347.35 million
Loans $ 123.49 million
Deposits $ 283.64 million
Capital $ 56.97 million
 

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

Deposit Rates - September 21, 2020

Your Current Location: Connecticut, CT 06828


Loan Rates - September 21, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for First Minnesota Bank

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
AimLoan.com
NMLS ID: 2890
License#: 13256
2.815% 2.750% 0.88 $2,122 $1,021 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
2.990 %
$0 Learn More
More Info

Note to First Minnesota Bank
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Branches

First Minnesota Bank 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


First Minnesota Bank Locations


Financial Details

First Minnesota Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Minnesota Bank. 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
First Minnesota Bank U.S. Bank Average
0.33% 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, First Minnesota Bank had $192,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $56,971,000 in equity and $1,658,000 in loans loss reserves. That gives it a Texas Ratio of 0.33%.

Return on Equity
First Minnesota Bank U.S. Bank Average
7.42% 7.80%

First Minnesota Bank has a Return on Equity of 7.42% 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
First Minnesota Bank U.S. Bank Average
16.4% 12.68%

First Minnesota Bank has a Capitalization of 16.4% 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.

First Minnesota Bank Balance Sheet Analysis

As of June 30, 2019, First Minnesota Bank had assets of $351,952,000, loans of $123,491,000, and deposits of $283,642,000. 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 $ 71.00 million
Interest-bearing balances $ 68.89 million
Total securities $ 132.87 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 123.49 million
Loan loss allowance $ 1.66 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 1.16 million
All other assets $ 15.26 million
     Total Assets $ 294.98 million
LIABILITIES
Total deposits $ 283.64 million
      Interest-bearing deposits $ 233.82 million
      Deposits held in domestic offices $ 283.64 million
      % insured (estimated) 81.41%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 10.00 million
Subordinated debt N.A.
All other liabilities $ 1.34 million
      Total Liabilities $ 294.98 million
      Shareholders’ Equity $ 52.36 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 6.65 million
Total Interest Expense $ 1.08 million
Net interest income $ 5.57 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.93 million
Total non interest expense $ 4.30 million
Pre-tax Net Operating Income $ 2.97 million

Bank Loan Profile?

The top three loan types in First Minnesota Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Small Business Loans.

Compared to other banks in Minnesota, First Minnesota Bank has a significantly higher percent of Small Business Loans on its balance sheet, potentially indicating a specialty in that lending area.

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 27.06
Multifamily
Mortgages
2.28
Credit Card Loans 0.00
Consumer Auto Loans 1.56
Small Business Loans 13.22
Construction and Development Loans 8.65
Commercial Real Estate 32.27
Commercial and Industrial Loans 12.31
Farm Loans 6.85

Frequently Asked Questions About First Minnesota Bank

Branches and Savings

Is First Minnesota Bank FDIC insured?

Yes. It is covered under FDIC Certificate #5151.

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

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

Why are First Minnesota Bank CD rates not competitive?

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

Is First Minnesota Bank a commercial bank?

Yes

Where are First Minnesota Bank locations?

See branch locations nearby.

Is First Minnesota Bank open on Saturdays?

Is First Minnesota Bank open on Sundays?

What time does First Minnesota Bank open?

What time does First Minnesota Bank close?

Are First Minnesota Bank ATMs Open 24/7?

Do First Minnesota Bank ATMs accept cash deposits?

Can First Minnesota Bank customers use other ATMs?

Do First Minnesota Bank branches have notaries?

Will First Minnesota Bank notarize my document?

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

Will the First Minnesota Bank branch print checks?

Do First Minnesota Bank checks expire?

Does First Minnesota Bank require US citizenship to open account?

Can First Minnesota Bank close my account?

Does First Minnesota Bank Report to credit bureaus?

Does First Minnesota Bank Use Equifax?

What is First Minnesota Bank's ACH Routing Number?

What is First Minnesota Bank's SWIFT code?

Products

Does First Minnesota Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does First Minnesota Bank offer personal loans?

Compare personal loan rates here.

Does First Minnesota Bank offer student loans?

Will First Minnesota Bank cash a check?

Will First Minnesota Bank redeem a savings bond?

Does First Minnesota Bank cash savings bonds?

Will First Minnesota Bank cash money orders?

Can First Minnesota Bank issue a money order?

Does First Minnesota Bank do currency exchange?

Background on The Bank

Who owns First Minnesota Bank?

How long has First Minnesota Bank been around?

Can First Minnesota Bank transfer to other banks?

Does First Minnesota Bank have quick pay?

Does First Minnesota Bank accept rolled coins?

Will First Minnesota Bank accept loose change?

Where is First Minnesota Bank headquarters?

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