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Overview / Commentary
507-534-3131
138 Broadway
Plainview, MN 55964

Foresight Bank is headquartered in Plainview and is the 115st largest bank in the state of Minnesota. It is also the 3,599th largest bank in the nation. It was established in 1902 and as of March of 2014, it had grown to 29 employees at 1 location. Foresight Bank's savings rates are 44% higher than the national average, and it 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 Foresight Bank had $1.38 million in non-current loans and owned real-estate with $16.25 million in equity and loan loss allowances on hand to cover it. This gives Foresight Bank a Texas Ratio of 8.52% 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 Foresight Bank decreased dramatically from 13.37% as of March 31, 2013 to 8.52% as of March 31, 2014, resulting in a positive change of 36.30%.This indicates that the balance sheet and financial strength for Foresight Bank has improved dramatically in recent periods.

Deposit Growth

GRADE:
A

In the past year, Foresight Bank has increased its total deposits by $6.22 million, resulting in 5% 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 Foresight Bank has shown is excellent.

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. Foresight Bank has $157.96 million in assets with $16.25 million in equity, resulting in a capitalization level of 10.29%, which is above average.

Institution Statistics

Overall
FDIC Certificate #5229
Year Established1902
Employees29
Primary RegulatorFDIC
Assets and Liabilities
Assets$157.96 million
Loans$135.44 million
Deposits$130.65 million
Equity Capital$14.62 million
Loan Loss Allowance$1.63 million
Unbacked Noncurrent Loans$1.18 million
Real Estate Owned$200,000
Historic Data - March 2013
Assets$148.90 million
Equity Capital$13.71 million
Loan Loss Allowance$1.63 million
Unbacked Noncurrent Loans$1.18 million
Real Estate Owned$300,000
Profit Margin - Quarterly
Return on Assets1.36%
Return on Equity14.97%
Interest Income$1.70 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Foresight Bank, we are a rate comparison website and can not provide official rates or promotions.

Foresight Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.75%$2,500-HSA eAccount
0.65%$2,500-HSA
0.25%$40k-Hi-Interest Savings
0.15%--Regular Savings

Foresight Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$100k-Money Market Savings

Foresight Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%--NOW Account
0.10%--Super NOW

Foresight Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.76%$100k-60 Month CD
1.46%$100k-48 Month CD
1.43%$200-60 Month Goal Saver CD
1.15%$100k-36 Month CD
0.90%$100k-24 Month CD
0.67%$200-12 Month Goal Saver CD
0.65%$100k-12 Month CD
0.45%$100k-6 Month CD
0.30%$500-1 Month CD
0.30%$500-3 Month CD

Foresight Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.76%$100k-60 Month IRA
1.46%$100k-48 Month IRA
1.26%$200-18 Month Variable IRA
1.15%$100k-36 Month IRA
0.90%$100k-24 Month IRA
Locations


Foresight Bank Locations
Foresight Bank138 BroadwayPlainview, MN 55964