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507-376-9747
202 Second Street Southeast
Pipestone, MN 56164

First State Bank Southwest is headquartered in Pipestone and is the 73rd largest bank in the state of Minnesota. It is also the 2,779th largest bank in the nation. It was established in 1903 and as of March of 2014, it had grown to 52 employees at 6 locations. First State Bank Southwest has a A health rating.

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Health

Data for Q1 2014

Institution Health

A

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 First State Bank Southwest had $189,000 in non-current loans and owned real-estate with $24.86 million in equity and loan loss allowances on hand to cover it. This gives First State Bank Southwest a Texas Ratio of 0.76% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for First State Bank Southwest decreased dramatically from 1.38% as of March 31, 2013 to 0.76% as of March 31, 2014, resulting in a positive change of 44.80%.This indicates that the balance sheet and financial strength for First State Bank Southwest has improved dramatically in recent periods.

Deposit Growth

GRADE:
B

In the past year, First State Bank Southwest has increased its total deposits by $1.68 million, resulting in 0.88% 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 above average.

Capitalization

GRADE:
B+

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 $226.48 million in assets with $24.86 million in equity, resulting in a capitalization level of 10.98%, which is above average.

Institution Statistics

Overall
FDIC Certificate #9770
Year Established1903
Employees52
Primary RegulatorFED
Assets and Liabilities
Assets$226.48 million
Loans$109.53 million
Deposits$193.00 million
Equity Capital$22.55 million
Loan Loss Allowance$2.32 million
Real Estate Owned$189,000
Historic Data - March 2013
Assets$225.16 million
Equity Capital$22.81 million
Loan Loss Allowance$2.32 million
Unbacked Noncurrent Loans$0
Real Estate Owned$46,000
Profit Margin - Quarterly
Net Interest Margin3.56%
Return on Assets1.69%
Return on Equity17.01%
Interest Income$2.00 million
Rates
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First State Bank Southwest Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.51%-$15kFree Rewards Checking - Qualifying
0.05%--Free Rewards Checking - Non Qualifying

First State Bank Southwest CD Rates

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


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