Wadena State Bank

Headquarters

304 1st Street, Southeast
Wadena, MN 56482
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.15% 1.05% →
1-Year CD 1.00% 1.05% →
2-Year CD 1.15% 1.11% →
5-Year CD 1.76% 1.56% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Wadena State Bank is an FDIC insured institution located in Wadena, MN. It was founded in 1917 and has approximately $0.18 billion in assets. Customers can open an account at one of its 4 branches.

FDIC Insured Yes
FDIC Certificate # 13430
Date Established 1917
Assets $ 175.57 million
Loans $ 111.26 million
Deposits $ 156.01 million
Capital $ 19.19 million
 

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

Deposit Rates - August 11, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.15% $2,500 $4,999 Learn More
Money Market
0.35% $10,000 $14,999 Learn More
Money Market
0.50% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.50% $10,000 $14,999 Learn More
3 Mo CD
0.50% $100,000 $199,999 Learn More
6 Mo CD
0.75% $10,000 $14,999 Learn More
6 Mo CD
0.75% $100,000 $199,999 Learn More
12 Mo CD
1.00% $10,000 $14,999 Learn More
12 Mo CD
1.00% $100,000 $199,999 Learn More
Special: 15 Mo CD
1.25% $5,000 - Learn More
Special: 21 Mo CD
1.35% $5,000 - Learn More
24 Mo CD
1.15% $10,000 $14,999 Learn More
24 Mo CD
1.15% $100,000 $199,999 Learn More
36 Mo CD
1.40% $10,000 $14,999 Learn More
36 Mo CD
1.40% $100,000 $199,999 Learn More
48 Mo CD
1.66% $10,000 $14,999 Learn More
48 Mo CD
1.66% $100,000 $199,999 Learn More
60 Mo CD
1.76% $10,000 $14,999 Learn More
60 Mo CD
1.76% $100,000 $199,999 Learn More

Variable IRA Rates APY MIN MAX
Var IRA
0.75% $1 $499 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.10% $2,500 $3,499 Learn MoreShow Less

Loan Rates - August 11, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Wadena State 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 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
Rocket Mortgage
NMLS ID: 3030
3.494% 3.375% 1.00 $3,750 $1,106 Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.914% 2.875% 0.50 $1,250 $1,038 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
2.990 %
$0 Learn More
More Info
PenFed Credit Union
PenFed Credit Union
3.750 %
$0 Learn More
More Info
Bethpage Federal Credit Union
Bethpage Federal Credit Union
3.500 %
$25,000 Learn More
More Info

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

Branches

Wadena State 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


Wadena State Bank Locations


Financial Details

Wadena State Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Wadena State 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
Wadena State Bank U.S. Bank Average
2.53% 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, Wadena State Bank had $465,000 in non-current loans and $47,000 in owned real estate. To cover these potential losses it had $19,194,000 in equity and $1,067,000 in loans loss reserves. That gives it a Texas Ratio of 2.53%.

Return on Equity
Wadena State Bank U.S. Bank Average
15.55% 7.80%

Wadena State Bank has a Return on Equity of 15.55% 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
Wadena State Bank U.S. Bank Average
10.93% 12.68%

Wadena State Bank has a Capitalization of 10.93% 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.

Wadena State Bank Balance Sheet Analysis

As of March 31, 2020, Wadena State Bank had assets of $175,572,000, loans of $111,263,000, and deposits of $156,006,000. 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 $ 15.53 million
Interest-bearing balances $ 12.92 million
Total securities $ 40.95 million
Federal funds sold and reverse repurchase $ 2.04 million
Net loans and leases $ 111.26 million
Loan loss allowance $ 1.07 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.05 million
Goodwill and other intangibles $ 1.60 million
All other assets $ 3.19 million
     Total Assets $ 156.38 million
LIABILITIES
Total deposits $ 156.01 million
      Interest-bearing deposits $ 119.18 million
      Deposits held in domestic offices $ 156.01 million
      % insured (estimated) 85.34%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 0.37 million
      Total Liabilities $ 156.38 million
      Shareholders’ Equity $ 19.19 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 1.98 million
Total Interest Expense $ 0.28 million
Net interest income $ 1.70 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.13 million
Total non interest expense $ 1.07 million
Pre-tax Net Operating Income $ 0.76 million

Bank Loan Profile?

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

Compared to other banks, Wadena State 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 27.29
Multifamily
Mortgages
1.33
Credit Card Loans 0.00
Consumer Auto Loans 2.75
Small Business Loans 0.00
Construction and Development Loans 1.32
Commercial Real Estate 23.75
Commercial and Industrial Loans 18.26
Farm Loans 5.59

Frequently Asked Questions About Wadena State Bank

Branches and Savings

Is Wadena State Bank FDIC insured?

Yes. It is covered under FDIC Certificate #13430.

Why does Wadena State Bank pay such low interest on savings accounts?

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

Why are Wadena State Bank CD rates not competitive?

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

Is Wadena State Bank a commercial bank?

Yes

Where are Wadena State Bank locations?

See branch locations nearby.

Is Wadena State Bank open on Saturdays?

Is Wadena State Bank open on Sundays?

What time does Wadena State Bank open?

What time does Wadena State Bank close?

Are Wadena State Bank ATMs Open 24/7?

Do Wadena State Bank ATMs accept cash deposits?

Can Wadena State Bank customers use other ATMs?

Do Wadena State Bank branches have notaries?

Will Wadena State Bank notarize my document?

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

Will the Wadena State Bank branch print checks?

Do Wadena State Bank checks expire?

Does Wadena State Bank require US citizenship to open account?

Can Wadena State Bank close my account?

Does Wadena State Bank Report to credit bureaus?

Does Wadena State Bank Use Equifax?

What is Wadena State Bank's ACH Routing Number?

What is Wadena State Bank's SWIFT code?

Products

Does Wadena State Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Wadena State Bank offer personal loans?

Compare personal loan rates here.

Does Wadena State Bank offer student loans?

Will Wadena State Bank cash a check?

Will Wadena State Bank redeem a savings bond?

Does Wadena State Bank cash savings bonds?

Will Wadena State Bank cash money orders?

Can Wadena State Bank issue a money order?

Does Wadena State Bank do currency exchange?

Background on The Bank

Who owns Wadena State Bank?

How long has Wadena State Bank been around?

Can Wadena State Bank transfer to other banks?

Does Wadena State Bank have quick pay?

Does Wadena State Bank accept rolled coins?

Will Wadena State Bank accept loose change?

Where is Wadena State Bank headquarters?

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