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952-473-1959
445 East Lake Street
Wayzata, MN 55391

Flagship Bank Minnesota is headquartered in Wayzata and is the 191st largest bank in the state of Minnesota. It is also the 4,974th largest bank in the nation. It was established in 1875 and as of December of 2013, it had grown to 19 employees at 2 locations. Flagship Bank Minnesota has a B health rating.

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Health

Data for Q4 2013

Institution Health

B
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Flagship Bank Minnesota has a relatively low asset base.

Texas Ratio

GRADE:
C+

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 Flagship Bank Minnesota had $3.6 million in non-current loans and owned real-estate with $12.68 million in equity and loan loss allowances on hand to cover it. This gives Flagship Bank Minnesota a Texas Ratio of 28.35% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Flagship Bank Minnesota decreased dramatically from 54.41% as of December 31, 2012 to 28.35% as of December 31, 2013, resulting in a positive change of 47.90%.This indicates that the balance sheet and financial strength for Flagship Bank Minnesota has improved dramatically in recent periods.

Deposit Growth

GRADE:
C

In the past year, Flagship Bank Minnesota has decreased its total deposits by $-843,000, resulting in -1.07% 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 Flagship Bank Minnesota has shown is average.

Capitalization

GRADE:
A+

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. Flagship Bank Minnesota has $90.64 million in assets with $12.68 million in equity, resulting in a capitalization level of 14.00%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #8188
Year Established1875
Employees19
Primary RegulatorFDIC
Assets and Liabilities
Assets$90.64 million
Loans$61.67 million
Deposits$77.91 million
Equity Capital$11.91 million
Loan Loss Allowance$772,000
Unbacked Noncurrent Loans$781,000
Real Estate Owned$2.82 million
Historic Data - December 2012
Assets$89.86 million
Equity Capital$7.99 million
Loan Loss Allowance$1.34 million
Unbacked Noncurrent Loans$781,000
Real Estate Owned$3.07 million
Profit Margin - Quarterly
Net Interest Margin3.68%
Return on Assets-0.47%
Return on Equity-4.41%
Interest Income$4.06 million
Rates

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Flagship Bank Minnesota Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$100-HSA Account
0.05%$50-Savings Account

Flagship Bank Minnesota Money Market Rates

DetailsAPYMINMAXPRODUCT
0.45%$100k-Money Market Account

Flagship Bank Minnesota Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.35%$5k-Regatta Checking
0.35%$2,500-Preferred Senior Checking
0.25%$100k-Admiral Business Checking
0.25%$100k-Non-Profit Business Checking
0.05%$1k-NOW Account

Flagship Bank Minnesota CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$500-60 Month CD
0.80%$500-48 Month CD
0.75%$500-36 Month CD
0.70%$500-24 Month CD
0.60%$500-18 Month CD
0.45%$500-12 Month CD
0.20%$500-6 Month CD
0.10%$500-3 Month CD

Flagship Bank Minnesota IRA Rates

DetailsAPYMINMAXPRODUCT
1.00%$500-60 Month IRA (Traditional,Roth,CESA)
0.80%$500-48 Month IRA (Traditional,Roth,CESA)
0.75%$500-36 Month IRA (Traditional,Roth,CESA)
0.70%$500-24 Month IRA (Traditional,Roth,CESA)
0.60%$500-18 Month IRA (Traditional,Roth,CESA)
0.45%$500-12 Month IRA (Traditional,Roth,CESA)
0.20%$500-6 Month IRA (Traditional,Roth,CESA)
0.10%$500-3 Month IRA (Traditional,Roth,CESA)
Locations


Flagship Bank Minnesota Locations
Flagship Bank Minnesota445 East Lake StreetWayzata, MN 55391
Eden Prairie Branch7525 Office Ridge CircleEden Prairie, MN 55344