First State Bank Minnesota

Headquarters

102 W. Main Street
Le Roy, MN 55951
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 1.05% →
1-Year CD 0.45% 0.95% →
2-Year CD 0.55% 1.05% →
5-Year CD 0.90% 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 State Bank Minnesota is an FDIC insured institution located in Le Roy, MN. It was founded in 1893 and has approximately $0.07 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 10162
Date Established 1893
Assets $ 70.31 million
Loans $ 47.30 million
Deposits $ 61.36 million
Capital $ 7.72 million
 

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

Deposit Rates - September 26, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $2,500 $4,999 Learn More
Money Market
0.15% $2,500 $2,999 Learn More
Money Market
0.15% $10,000 $14,999 Learn More
Money Market
0.15% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.25% $10,000 $14,999 Learn More
6 Mo CD
0.25% $100,000 $199,999 Learn More
12 Mo CD
0.45% $10,000 $14,999 Learn More
12 Mo CD
0.45% $100,000 $199,999 Learn More
24 Mo CD
0.55% $10,000 $14,999 Learn More
24 Mo CD
0.55% $100,000 $199,999 Learn More
36 Mo CD
0.65% $10,000 $14,999 Learn More
36 Mo CD
0.65% $100,000 $199,999 Learn More
48 Mo CD
0.75% $10,000 $14,999 Learn More
48 Mo CD
0.75% $100,000 $199,999 Learn More
60 Mo CD
0.90% $10,000 $14,999 Learn More
60 Mo CD
0.90% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less

Loan Rates - September 26, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for First State Bank Minnesota

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 $2,102 $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
People's United Bank, N.A.
People's United Bank, N.A.
See Table
4.000 %
$0 Learn More
More Info

Note to First State Bank Minnesota
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

First State 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:
Fairfield,Connecticut


First State Bank Minnesota Locations


Financial Details

First State Bank Minnesota Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First State 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
First State Bank Minnesota U.S. Bank Average
7.97% 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 State Bank Minnesota had $695,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $7,717,000 in equity and $1,006,000 in loans loss reserves. That gives it a Texas Ratio of 7.97%.

Return on Equity
First State Bank Minnesota U.S. Bank Average
10.68% 7.80%

First State Bank Minnesota has a Return on Equity of 10.68% 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 State Bank Minnesota U.S. Bank Average
10.98% 12.68%

First State Bank Minnesota has a Capitalization of 10.98% 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 State Bank Minnesota Balance Sheet Analysis

As of March 31, 2020, First State Bank Minnesota had assets of $70,312,000, loans of $47,302,000, and deposits of $61,360,000. 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 $ 7.86 million
Interest-bearing balances $ 6.25 million
Total securities $ 3.50 million
Federal funds sold and reverse repurchase $ 9.38 million
Net loans and leases $ 47.30 million
Loan loss allowance $ 1.01 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 1.55 million
     Total Assets $ 62.60 million
LIABILITIES
Total deposits $ 61.36 million
      Interest-bearing deposits $ 45.00 million
      Deposits held in domestic offices $ 61.36 million
      % insured (estimated) 86.64%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 1.15 million
Subordinated debt N.A.
All other liabilities $ 0.08 million
      Total Liabilities $ 62.60 million
      Shareholders’ Equity $ 7.72 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 0.71 million
Total Interest Expense $ 0.09 million
Net interest income $ 0.62 million
Provision for loan and lease losses $ 0.02 million
Total non interest income $ 0.06 million
Total non interest expense $ 0.44 million
Pre-tax Net Operating Income $ 0.22 million

Bank Loan Profile?

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

Compared to other banks in Minnesota, First State Bank Minnesota has a significantly higher percent of Farm 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 8.45
Multifamily
Mortgages
0.00
Credit Card Loans 0.38
Consumer Auto Loans 0.76
Small Business Loans 0.00
Construction and Development Loans 1.94
Commercial Real Estate 3.84
Commercial and Industrial Loans 11.51
Farm Loans 34.72

Frequently Asked Questions About First State Bank Minnesota

Branches and Savings

Is First State Bank Minnesota FDIC insured?

Yes. It is covered under FDIC Certificate #10162.

Why does First State 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 First State Bank Minnesota CD rates not competitive?

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

Is First State Bank Minnesota a commercial bank?

Yes

Where are First State Bank Minnesota locations?

See branch locations nearby.

Is First State Bank Minnesota open on Saturdays?

Is First State Bank Minnesota open on Sundays?

What time does First State Bank Minnesota open?

What time does First State Bank Minnesota close?

Are First State Bank Minnesota ATMs Open 24/7?

Do First State Bank Minnesota ATMs accept cash deposits?

Can First State Bank Minnesota customers use other ATMs?

Do First State Bank Minnesota branches have notaries?

Will First State Bank Minnesota notarize my document?

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

Will the First State Bank Minnesota branch print checks?

Do First State Bank Minnesota checks expire?

Does First State Bank Minnesota require US citizenship to open account?

Can First State Bank Minnesota close my account?

Does First State Bank Minnesota Report to credit bureaus?

Does First State Bank Minnesota Use Equifax?

What is First State Bank Minnesota's ACH Routing Number?

What is First State Bank Minnesota's SWIFT code?

Products

Does First State Bank Minnesota offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does First State Bank Minnesota offer personal loans?

Compare personal loan rates here.

Does First State Bank Minnesota offer student loans?

Will First State Bank Minnesota cash a check?

Will First State Bank Minnesota redeem a savings bond?

Does First State Bank Minnesota cash savings bonds?

Will First State Bank Minnesota cash money orders?

Can First State Bank Minnesota issue a money order?

Does First State Bank Minnesota do currency exchange?

Background on The Bank

Who owns First State Bank Minnesota?

How long has First State Bank Minnesota been around?

Can First State Bank Minnesota transfer to other banks?

Does First State Bank Minnesota have quick pay?

Does First State Bank Minnesota accept rolled coins?

Will First State Bank Minnesota accept loose change?

Where is First State Bank Minnesota headquarters?

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