First Minnetonka City Bank

Headquarters

14550 Excelsior Boulevard
Minnetonka, MN 55345
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.02% 1.05% →
1-Year CD 0.35% 0.95% →
2-Year CD 0.50% 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 Minnetonka City Bank is an FDIC insured institution located in Minnetonka, MN. It was founded in 1964 and has approximately $0.23 billion in assets. Customers can open an account at one of its 4 branches.

FDIC Insured Yes
FDIC Certificate # 19188
Date Established 1964
Assets $ 229.96 million
Loans $ 124.65 million
Deposits $ 204.25 million
Capital $ 25.59 million
 

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

Deposit Rates - September 24, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.02% $15 - Learn More
Money Market
0.05% $15 $9,999 Learn More
Money Market
0.06% $10,000 $24,999 Learn More
Money Market
0.08% $25,000 $49,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.10% $1,000 - Learn More
6 Mo CD
0.25% $1,000 - Learn More
Special: 9 Mo CD
0.40% $2,500 - Learn More
Special: 11 Mo CD
0.50% $2,500 - Learn More
12 Mo CD
0.35% $1,000 - Learn More
Special: 15 Mo CD
0.60% $2,500 - Learn More
18 Mo CD
0.45% $1,000 - Learn More
24 Mo CD
0.50% $1,000 - Learn More
30 Mo CD
0.55% $1,000 - Learn More
36 Mo CD
0.60% $1,000 - Learn More
48 Mo CD
0.70% $1,000 - Learn More

Fixed IRA Rates APY MIN MAX
Special: 9 Mo FIRA
0.40% $2,500 - Learn MoreShow Less
Special: 11 Mo FIRA
0.50% $2,500 - Learn MoreShow Less
Special: 15 Mo FIRA
0.60% $2,500 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.01% $500 - Learn MoreShow Less

Loan Rates - September 24, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for First Minnetonka City 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 Minnetonka City Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

First Minnetonka City 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 Minnetonka City Bank Locations


Financial Details

First Minnetonka City Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Minnetonka City 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 Minnetonka City Bank U.S. Bank Average
1.01% 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 Minnetonka City Bank had $0 in non-current loans and $269,000 in owned real estate. To cover these potential losses it had $25,589,000 in equity and $1,158,000 in loans loss reserves. That gives it a Texas Ratio of 1.01%.

Return on Equity
First Minnetonka City Bank U.S. Bank Average
10.58% 7.80%

First Minnetonka City Bank has a Return on Equity of 10.58% 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 Minnetonka City Bank U.S. Bank Average
11.13% 12.68%

First Minnetonka City Bank has a Capitalization of 11.13% 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 Minnetonka City Bank Balance Sheet Analysis

As of March 31, 2020, First Minnetonka City Bank had assets of $229,957,000, loans of $124,648,000, and deposits of $204,246,000. 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 $ 30.26 million
Interest-bearing balances $ 26.43 million
Total securities $ 65.18 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 124.65 million
Loan loss allowance $ 1.16 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.27 million
Goodwill and other intangibles N.A.
All other assets $ 6.80 million
     Total Assets $ 204.37 million
LIABILITIES
Total deposits $ 204.25 million
      Interest-bearing deposits $ 146.25 million
      Deposits held in domestic offices $ 204.25 million
      % insured (estimated) 81.75%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 0.12 million
      Total Liabilities $ 204.37 million
      Shareholders’ Equity $ 25.59 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 1.91 million
Total Interest Expense $ 0.19 million
Net interest income $ 1.72 million
Provision for loan and lease losses $ 0.05 million
Total non interest income $ 0.38 million
Total non interest expense $ 1.38 million
Pre-tax Net Operating Income $ 0.68 million

Bank Loan Profile?

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

Compared to other banks, First Minnetonka City Bank’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 32.83
Multifamily
Mortgages
0.09
Credit Card Loans 0.00
Consumer Auto Loans 1.07
Small Business Loans 0.00
Construction and Development Loans 1.85
Commercial Real Estate 15.76
Commercial and Industrial Loans 19.87
Farm Loans 0.00

Frequently Asked Questions About First Minnetonka City Bank

Branches and Savings

Is First Minnetonka City Bank FDIC insured?

Yes. It is covered under FDIC Certificate #19188.

Why does First Minnetonka City 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 Minnetonka City Bank CD rates not competitive?

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

Is First Minnetonka City Bank a commercial bank?

Yes

Where are First Minnetonka City Bank locations?

See branch locations nearby.

Is First Minnetonka City Bank open on Saturdays?

Is First Minnetonka City Bank open on Sundays?

What time does First Minnetonka City Bank open?

What time does First Minnetonka City Bank close?

Are First Minnetonka City Bank ATMs Open 24/7?

Do First Minnetonka City Bank ATMs accept cash deposits?

Can First Minnetonka City Bank customers use other ATMs?

Do First Minnetonka City Bank branches have notaries?

Will First Minnetonka City Bank notarize my document?

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

Will the First Minnetonka City Bank branch print checks?

Do First Minnetonka City Bank checks expire?

Does First Minnetonka City Bank require US citizenship to open account?

Can First Minnetonka City Bank close my account?

Does First Minnetonka City Bank Report to credit bureaus?

Does First Minnetonka City Bank Use Equifax?

What is First Minnetonka City Bank's ACH Routing Number?

What is First Minnetonka City Bank's SWIFT code?

Products

Does First Minnetonka City Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does First Minnetonka City Bank offer personal loans?

Compare personal loan rates here.

Does First Minnetonka City Bank offer student loans?

Will First Minnetonka City Bank cash a check?

Will First Minnetonka City Bank redeem a savings bond?

Does First Minnetonka City Bank cash savings bonds?

Will First Minnetonka City Bank cash money orders?

Can First Minnetonka City Bank issue a money order?

Does First Minnetonka City Bank do currency exchange?

Background on The Bank

Who owns First Minnetonka City Bank?

How long has First Minnetonka City Bank been around?

Can First Minnetonka City Bank transfer to other banks?

Does First Minnetonka City Bank have quick pay?

Does First Minnetonka City Bank accept rolled coins?

Will First Minnetonka City Bank accept loose change?

Where is First Minnetonka City Bank headquarters?

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