Granite Falls Bank

Headquarters

702 Prentice Street
Granite Falls, MN 56241
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 0.85% →
1-Year CD 0.50% 0.80% →
2-Year CD 0.75% 0.80% →
5-Year CD 1.45% 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

Granite Falls Bank is an FDIC insured institution located in Granite Falls, MN. It was founded in 1878 and has approximately $0.17 billion in assets.

FDIC Insured Yes
FDIC Certificate # 10998
Date Established 1878
Assets $ 174.26 million
Loans $ 73.95 million
Deposits $ 149.66 million
Capital $ 16.45 million
 

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

Deposit Rates - September 23, 2021

Your Current Location: California, CA 92111

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $2,500 $4,999 Learn More
Money Market
0.10% $2,500 $2,999 Learn More
Money Market
0.10% $10,000 $14,999 Learn More
Money Market
0.15% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.30% $10,000 $14,999 Learn More
6 Mo CD
0.30% $100,000 $199,999 Learn More
12 Mo CD
0.50% $10,000 $14,999 Learn More
12 Mo CD
0.50% $100,000 $199,999 Learn More
24 Mo CD
0.75% $10,000 $14,999 Learn More
24 Mo CD
0.75% $100,000 $199,999 Learn More
36 Mo CD
1.00% $10,000 $14,999 Learn More
36 Mo CD
1.00% $100,000 $199,999 Learn More
48 Mo CD
1.25% $10,000 $14,999 Learn More
48 Mo CD
1.25% $100,000 $199,999 Learn More
60 Mo CD
1.45% $10,000 $14,999 Learn More
60 Mo CD
1.45% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.03% $2,500 $3,499 Learn MoreShow Less
 

Loan Rates - September 23, 2021

Your Current Location: California, CA 92111

There are currently no loan rates available for Granite Falls Bank

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




Featured - California 30 Year Fixed Mortgage Rates 2021

Lender APR Rate (%) Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 413-0477
2.684% 2.625%
0.75 points
$1,932 fees
$1,005 Learn More

Featured - California Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
BMO Harris Bank
BMO Harris Bank
See Table
Intro APR 1.790 %
After Intro: 4.840 %
Intro Period: 6 months
$0 Learn More
More Info
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
2.240 %
$0 Learn More
More Info

Note to Granite Falls Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Granite Falls 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:
San Diego,California


Granite Falls Bank Locations


Financial Details

Granite Falls Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Granite Falls 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
Granite Falls Bank U.S. Bank Average
0% 5.29%

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, 2021, Granite Falls Bank had $0 in non-current loans and $0 in owned real estate. To cover these potential losses it had $16,448,000 in equity and $1,003,000 in loans loss reserves. That gives it a Texas Ratio of 0%.

Return on Equity
Granite Falls Bank U.S. Bank Average
15.8% 11.43%

Granite Falls Bank has a Return on Equity of 15.8% versus the BestCashCow average of 11.43%. 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
Granite Falls Bank U.S. Bank Average
9.44% 11.51%

Granite Falls Bank has a Capitalization of 9.44% versus the BestCashCow average of 11.51. 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.

Granite Falls Bank Balance Sheet Analysis

As of March 31, 2021, Granite Falls Bank had assets of $174,262,000, loans of $73,953,000, and deposits of $149,658,000. 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, 2021
ASSETS
Cash & Balances due from depository institutions $ 16.25 million
Interest-bearing balances $ 15.27 million
Total securities $ 80.90 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 73.95 million
Loan loss allowance $ 1.00 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.14 million
All other assets $ 1.94 million
     Total Assets $ 157.81 million
LIABILITIES
Total deposits $ 149.66 million
      Interest-bearing deposits $ 125.37 million
      Deposits held in domestic offices $ 149.66 million
      % insured (estimated) 43.24%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 7.95 million
Subordinated debt N.A.
All other liabilities $ 0.21 million
      Total Liabilities $ 157.81 million
      Shareholders’ Equity $ 16.45 million

Summary Income Statement

March 31, 2021
INCOME AND EXPENSES
Total Interest Income $ 1.41 million
Total Interest Expense $ 0.14 million
Net interest income $ 1.27 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.10 million
Total non interest expense $ 0.71 million
Pre-tax Net Operating Income $ 0.67 million

Bank Loan Profile?

The top three loan types in Granite Falls Bank’s loan portfolio are Farm Loans, Commercial and Industrial Loans, and Commercial Real Estate.

Compared to other banks in Minnesota, Granite Falls Bank 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 5.12
Multifamily
Mortgages
0.92
Credit Card Loans 0.00
Consumer Auto Loans 0.45
Small Business Loans 0.00
Construction and Development Loans 0.74
Commercial Real Estate 6.30
Commercial and Industrial Loans 12.59
Farm Loans 43.04

Frequently Asked Questions About Granite Falls Bank

Branches and Savings

Is Granite Falls Bank FDIC insured?

Yes. It is covered under FDIC Certificate #10998.

Why does Granite Falls Bank pay such low interest on savings accounts?

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

Why are Granite Falls Bank CD rates not competitive?

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

Is Granite Falls Bank a commercial bank?

Yes

Where are Granite Falls Bank locations?

See branch locations nearby.

Is Granite Falls Bank open on Saturdays?

Is Granite Falls Bank open on Sundays?

What time does Granite Falls Bank open?

What time does Granite Falls Bank close?

Are Granite Falls Bank ATMs Open 24/7?

Do Granite Falls Bank ATMs accept cash deposits?

Can Granite Falls Bank customers use other ATMs?

Do Granite Falls Bank branches have notaries?

Will Granite Falls Bank notarize my document?

What address for Granite Falls Bank should I put for incoming ACH transfers?

Will the Granite Falls Bank branch print checks?

Do Granite Falls Bank checks expire?

Does Granite Falls Bank require US citizenship to open account?

Can Granite Falls Bank close my account?

Does Granite Falls Bank Report to credit bureaus?

Does Granite Falls Bank Use Equifax?

What is Granite Falls Bank's ACH Routing Number?

What is Granite Falls Bank's SWIFT code?

Products

Does Granite Falls Bank offer mortgages?

Compare mortgage rates here.

Does Granite Falls Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Granite Falls Bank offer personal loans?

Compare personal loan rates here.

Does Granite Falls Bank offer student loans?

Will Granite Falls Bank cash a check?

Will Granite Falls Bank redeem a savings bond?

Does Granite Falls Bank cash savings bonds?

Will Granite Falls Bank cash money orders?

Can Granite Falls Bank issue a money order?

Does Granite Falls Bank do currency exchange?

Background on The Bank

Who owns Granite Falls Bank?

How long has Granite Falls Bank been around?

Can Granite Falls Bank transfer to other banks?

Does Granite Falls Bank have quick pay?

Does Granite Falls Bank accept rolled coins?

Will Granite Falls Bank accept loose change?

Where is Granite Falls Bank headquarters?

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