MINNESOTA LAKES BANK

710 Babcock Boulevard
Delano, MN 55328

 

2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 23986
Date Established 1982
Assets $0.10 billion
Loans $0.06 billion
Deposits $0.08 billion
Capital $0.01 billion

MINNESOTA LAKES BANK is an FDIC insured institution located in Delano, MN. It was founded in 1982 and has approximately $0.1 billion in assets. Customers can open an account at one of its 2 branches.

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

Deposit Rates - August 24, 2019

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.10% $1 $10,000 Learn MoreShow Less
Money Market
0.15% $10,001 $50,000 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.16% $500 - Learn MoreShow Less
6 Mo CD
0.30% $500 - Learn MoreShow Less
Special: 10 Mo CD
1.45% $500 - Learn MoreShow Less
12 Mo CD
1.00% $500 - Learn MoreShow Less
18 Mo CD
0.50% $500 - Learn MoreShow Less
Special: 19 Mo CD
2.35% $500 - Learn MoreShow Less
24 Mo CD
1.05% $500 - Learn MoreShow Less
Special: 27 Mo CD
2.50% $500 - Learn MoreShow Less
36 Mo CD
1.20% $500 - Learn MoreShow Less
48 Mo CD
1.30% $500 - Learn MoreShow Less
60 Mo CD
2.50% $500 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
1.00% $500 - Learn MoreShow Less
Special: 10 Mo FIRA
1.45% $500 - Learn MoreShow Less
Special: 19 Mo FIRA
2.35% $500 - Learn MoreShow Less
Special: 27 Mo FIRA
2.50% $500 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.30% $1 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.15% $1 - Learn MoreShow Less

Loan Rates - August 24, 2019

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for MINNESOTA LAKES BANK

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 2019

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
3.529% 3.500% 0.38 $898 $1,123 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
4.240 %
$0 Learn More
More Info

Note to MINNESOTA LAKES BANK
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Branches

MINNESOTA LAKES 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:
Ashburn,Virginia


MINNESOTA LAKES BANK Locations


Financial Details

MINNESOTA LAKES BANK Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of MINNESOTA LAKES 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
MINNESOTA LAKES BANK U.S. Bank Average
3.45% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s 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, 2019, MINNESOTA LAKES BANK had $4,000 in non-current loans and $423,000 in owned real estate. To cover these potential losses it had $11,846,000 in equity and $531,000 in loans loss reserves. That gives it a Texas Ratio of 3.45%.

Return on Equity
MINNESOTA LAKES BANK U.S. Bank Average
2.65% 9.47%

MINNESOTA LAKES BANK has a Return on Equity of 2.65% versus the BestCashCow average of 9.47%. 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
MINNESOTA LAKES BANK U.S. Bank Average
12.03% 12.49%

MINNESOTA LAKES BANK has a Capitalization of 12.03% versus the BestCashCow average of 12.49. 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.

MINNESOTA LAKES BANK Balance Sheet Analysis

As of March 31, 2019, MINNESOTA LAKES BANK had assets of $98,462,000, loans of $62,779,000, and deposits of $83,848,000. 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, 2019
ASSETS
Cash & Balances due from depository institutions $0.01 billion
Interest-bearing balances $0.01 billion
Total securities $0.02 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.06 billion
Loan loss allowance $0.00 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.00 billion
All other assets $0.00 billion
     Total Assets $0.09 billion
LIABILITIES
Total deposits $0.08 billion
      Interest-bearing deposits $0.07 billion
      Deposits held in domestic offices $0.08 billion
      % insured (estimated) 82.78%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.00 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.09 billion
      Shareholders’ Equity $0.01 billion

Summary Income Statement

March 31, 2019
INCOME AND EXPENSES
Total Interest Income $0.00 billion
Total Interest Expense $0.00 billion
Net interest income $0.00 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.00 billion
Pre-tax Net Operating Income $0.00 billion

Bank Loan Profile?

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

Compared to other banks in Minnesota, MINNESOTA LAKES BANK has a significantly higher percent of Small Business Loans, Construction and Development Loans, Commercial Real Estate 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 20.04
Multifamily
Mortgages
1.66
Credit Card Loans 0.00
Consumer Auto Loans 0.79
Small Business Loans 34.50
Construction and Development Loans 9.64
Commercial Real Estate 47.20
Commercial and Industrial Loans 16.61
Farm Loans 0.96

Frequently Asked Questions About Minnesota Lakes Bank

Branches and Savings

Is Minnesota Lakes Bank FDIC insured?

Yes. It is covered under FDIC Certificate #23986.

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

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

Why are Minnesota Lakes Bank CD rates not competitive?

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

Is Minnesota Lakes Bank a commercial bank?

Yes

Where are Minnesota Lakes Bank locations?

See branch locations nearby.

Is Minnesota Lakes Bank open on Saturdays?

Is Minnesota Lakes Bank open on Sundays?

What time does Minnesota Lakes Bank open?

What time does Minnesota Lakes Bank close?

Are Minnesota Lakes Bank ATMs Open 24/7?

Do Minnesota Lakes Bank ATMs accept cash deposits?

Can Minnesota Lakes Bank customers use other ATMs?

Do Minnesota Lakes Bank branches have notaries?

Will Minnesota Lakes Bank notarize my document?

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

Will the Minnesota Lakes Bank branch print checks?

Do Minnesota Lakes Bank checks expire?

Does Minnesota Lakes Bank require US citizenship to open account?

Can Minnesota Lakes Bank close my account?

Does Minnesota Lakes Bank Report to credit bureaus?

Does Minnesota Lakes Bank Use Equifax?

What is Minnesota Lakes Bank's ACH Routing Number?

What is Minnesota Lakes Bank's SWIFT code?

Products

Does Minnesota Lakes Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Minnesota Lakes Bank offer personal loans?

Compare personal loan rates here.

Does Minnesota Lakes Bank offer student loans?

Will Minnesota Lakes Bank cash a check?

Will Minnesota Lakes Bank redeem a savings bond?

Does Minnesota Lakes Bank cash savings bonds?

Will Minnesota Lakes Bank cash money orders?

Can Minnesota Lakes Bank issue a money order?

Does Minnesota Lakes Bank do currency exchange?

Background on The Bank

Who owns Minnesota Lakes Bank?

How long has Minnesota Lakes Bank been around?

Can Minnesota Lakes Bank transfer to other banks?

Does Minnesota Lakes Bank have quick pay?

Does Minnesota Lakes Bank accept rolled coins?

Will Minnesota Lakes Bank accept loose change?

Where is Minnesota Lakes Bank headquarters?

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