Heritage Bank National Association


110 W South St
Spicer, MN 56288
See all branch locations →

Phone 800-344-7048

Heritage Bank National Association
Notable Rates APY Vs.Others
Savings 1.72% 6.25% →
1-Year CD N.A. 5.25% →
2-Year CD N.A. 4.75% →
5-Year CD N.A. 4.70% →
30-Year Mortgage N.A. 0.00% →
15-Year Mortgage N.A. 0.00% →
HELOC N.A. 0.99% →

2023 Overview

General Bank Information

Heritage Bank National Association is an FDIC insured institution located in Spicer, MN. It was founded in 1964 and has approximately $0.44 billion in assets. Customers can open an account at one of its 7 branches.

FDIC Insured Yes
FDIC Certificate # 19254
Date Established 1964
Assets $ 436.98 million
Loans $ 365.39 million
Deposits $ 351.11 million
Capital $ 42.81 million

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

Deposit Rates - March 20, 2023

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Jumbo Deposit Account
1.72% $100,000 - Learn More
Jumbo Deposit Account
1.72% $230,000 - Learn More
6 Month Triple Option CD
0.14% $2,000 - Learn More

Int Checking Rates APY MIN MAX
eCcentive Account
1.52% $0 $25,000 Learn MoreShow Less
Checking Rates APY MIN FEE
eCentive Checking Account 2.02% $0 $0.00 Learn MoreShow Less

Loan Rates - March 20, 2023

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Heritage Bank National Association

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

Featured - Virginia 30 Year Fixed Mortgage Rates 2023

Lender APR Rate (%) Monthly
Learn More
NMLS ID: Not lender

Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2023

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR 7.240 %
After Intro: 8.250 %
Intro Period: 12 months
$25,000 Learn More
More Info
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
6.990 %
$0 Learn More
More Info

Note to Heritage Bank National Association
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Heritage Bank National Association Locations

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Financial Details

Heritage Bank National Association Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Heritage Bank National Association. 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
Heritage Bank National Association U.S. Bank Average
3.03% 8.03%

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 September 30, 2022, Heritage Bank National Association had $1,431,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $42,814,000 in equity and $4,482,000 in loans loss reserves. That gives it a Texas Ratio of 3.03%.

Return on Equity
Heritage Bank National Association U.S. Bank Average
13.1% 10.00%

Heritage Bank National Association has a Return on Equity of 13.1% versus the BestCashCow average of 10.00%. 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.

Heritage Bank National Association U.S. Bank Average
9.8% 9.96%

Heritage Bank National Association has a Capitalization of 9.8% versus the BestCashCow average of 9.96. 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.

Heritage Bank National Association Balance Sheet Analysis

As of September 30, 2022, Heritage Bank National Association had assets of $436,981,000, loans of $365,392,000, and deposits of $351,114,000. 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

September 30, 2022
Cash & Balances due from depository institutions $ 10.14 million
Interest-bearing balances $ 3.13 million
Total securities $ 41.98 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 365.39 million
Loan loss allowance $ 4.48 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 3.77 million
All other assets $ 11.33 million
     Total Assets $ 394.41 million
Total deposits $ 351.11 million
      Interest-bearing deposits $ 263.72 million
      Deposits held in domestic offices $ 351.11 million
      % insured (estimated) 78.44%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 38.67 million
Subordinated debt N.A.
All other liabilities $ 4.79 million
      Total Liabilities $ 394.41 million
      Shareholders’ Equity $ 42.58 million

Summary Income Statement

September 30, 2022
Total Interest Income $ 16.59 million
Total Interest Expense $ 1.03 million
Net interest income $ 15.57 million
Provision for loan and lease losses $ 1.05 million
Total non interest income $ 2.20 million
Total non interest expense $ 12.48 million
Pre-tax Net Operating Income $ 3.21 million

Bank Loan Profile?

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

Compared to other banks, Heritage Bank National Association’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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 19.85
Credit Card Loans 0.04
Consumer Auto Loans 0.01
Small Business Loans 0.00
Construction and Development Loans 1.44
Commercial Real Estate 16.66
Commercial and Industrial Loans 20.33
Farm Loans 5.97

Customer Reviews for Heritage Bank National Association (8)

  • November 2, 2020 |

    Online Savings Rates

    Got the account opened after weeks and finally got it funded and then they dropped the rate the next day and it is no longer competitive.

  • October 18, 2020 | | Replies 1

    Online Savings Rates

    the bank is a Minneapolis one, not national offer may present as national but it isn't also need $230,000 and that is over fdic limit

    Matt | Mar 20, 2023

    The info in this comment is misleading. Bank is located in Willmar MN (not Minneapolis), but account may be opened online regardless of where you live. FDIC insures $250K, and eCentive account pays premium interest rate up to $25K.

  • April 16, 2020

    Rewards Checking Rates

    Heritage eCentive account is now 1.53% APY up to $25,000.00.
    above max. 0.53% APY. 5 star rating with the exception of this new rate change and that is a neg. star. Insert crying emojj.

  • February 9, 2020 |

    Rewards Checking Rates


  • February 5, 2020 |

    CDs 6 Month Rates

    This is listed as a local bank to the St Louis area, but it is not. They also refused to open a new account.

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*Should any logos, images or public notes appear on this page,they do so courtesy of Heritage Bank National Association and are not subject to approval of BestCashCow. BestCashCow expressly disclaims all responsibility for this content.