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202 Second Street Southeast
Pipestone, MN 56164

First State Bank Southwest is headquartered in Pipestone and is the 74th largest bank in the state of Minnesota. It is also the 2,758th largest bank in the nation. It was established in 1903 and as of December of 2013, it had grown to 53 employees at 6 locations. First State Bank Southwest has a B+ health rating.

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Data for Q4 2013

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 First State Bank Southwest had $223,000 in non-current loans and owned real-estate with $24.91 million in equity and loan loss allowances on hand to cover it. This gives First State Bank Southwest a Texas Ratio of 0.90% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for First State Bank Southwest experienced no significant changes from 0.19% as of December 31, 2012 to 0.90% as of December 31, 2013, resulting in a negative change of 368.18%. This indicates that the balance sheet and financial strength for First State Bank Southwest has had no significant changes in recent periods.

Deposit Growth


In the past year, First State Bank Southwest has decreased its total deposits by -$8.35 million, resulting in -4.24% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth First State Bank Southwest has shown is below average.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. First State Bank Southwest has $228.24 million in assets with $24.91 million in equity, resulting in a capitalization level of 10.91%, which is above average.

Institution Statistics

FDIC Certificate #9770
Year Established1903
Primary RegulatorFED
Assets and Liabilities
Assets$228.24 million
Loans$118.94 million
Deposits$188.65 million
Equity Capital$22.60 million
Loan Loss Allowance$2.32 million
Unbacked Noncurrent Loans$34,000
Real Estate Owned$189,000
Historic Data - December 2012
Assets$238.42 million
Equity Capital$23.33 million
Loan Loss Allowance$2.30 million
Real Estate Owned$49,000
Profit Margin - Quarterly
Net Interest Margin3.34%
Return on Assets1.5%
Return on Equity15.03%
Interest Income$7.55 million
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First State Bank Southwest Checking Account Rates

1.51%-$15kFree Rewards Checking
0.05%--Free Rewards Checking

First State Bank Southwest CD Rates

0.55%$5k-20 Month CD
0.35%$5k-13 Month CD

First State Bank Southwest Locations
Rushmore Branch103 North Thompson AvenueRushmore, MN 56168
Worthingron1055 Ryans RoadWorthington, MN 56187
Worthington Branch1433 Oxford StreetWorthington, MN 56187
First State Bank Southwest202 Second Street SoutheastPipestone, MN 56164
Leota Branch423 Main StreetLeota, MN 56153
Edgerton Branch760 Main StreetEdgerton, MN 56128