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120 South Street West
Spicer, MN 56288

Heritage Bank is headquartered in Spicer and is the 28th largest bank in the state of Minnesota. It is also the 1,639th largest bank in the nation. It was established in 1964 and as of March of 2014, it had grown to 136 employees at 13 locations. Heritage Bank has a B+ health rating.

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Data for Q1 2014

Institution Health


Texas Ratio


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 Heritage Bank had $5.02 million in non-current loans and owned real-estate with $47.17 million in equity and loan loss allowances on hand to cover it. This gives Heritage Bank a Texas Ratio of 10.64% 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 Heritage Bank increased slightly from 2.07% as of March 31, 2013 to 10.64% as of March 31, 2014, resulting in a negative change of 414.12%. This indicates that the balance sheet and financial strength for Heritage Bank has declined slightly in recent periods.

Deposit Growth


In the past year, Heritage Bank has decreased its total deposits by -$4.01 million, resulting in -1.13% 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 Heritage Bank has shown is 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. Heritage Bank has $409.93 million in assets with $47.17 million in equity, resulting in a capitalization level of 11.51%, which is excellent.

Institution Statistics

FDIC Certificate #19254
Year Established1964
Primary RegulatorOCC
Assets and Liabilities
Assets$409.93 million
Loans$288.04 million
Deposits$350.08 million
Equity Capital$42.20 million
Loan Loss Allowance$4.98 million
Unbacked Noncurrent Loans$3.05 million
Real Estate Owned$1.97 million
Historic Data - March 2013
Assets$419.57 million
Equity Capital$46.77 million
Loan Loss Allowance$4.62 million
Unbacked Noncurrent Loans$3.05 million
Real Estate Owned$673,000
Profit Margin - Quarterly
Net Interest Margin3.78%
Return on Assets0.85%
Return on Equity8.46%
Interest Income$4.02 million
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Heritage Bank Savings Account Rates

0.30%$200k-Flex Gold Savings
0.30%$200k-Business Flex Gold Savings
0.25%$1k-HeritageDirect Savings
0.25%$1k-Business HeritageDirect Savings
0.20%$10k-Health Savings Account
0.08%--Universal Savings

Heritage Bank Checking Account Rates

1.26%-$25keCentive Account - Qualifying
0.08%$1k-Legacy Checking
0.05%--eCentive Account - Non Qualifying

Heritage Bank CD Rates

1.13%$25k-60 Month CD
1.13%$25k-Business 60 Month CD
0.94%$25k-48 Month CD
0.94%$25k-Business 48 Month CD
0.80%$25k-36 Month CD
0.80%$25k-Business 36 Month CD
0.44%$1k-24 Month CD
0.44%$1k-Business 24 Month CD
0.23%$1k-12 Month CD
0.23%$1k-Business 12 Month CD
0.14%$1k-182 Day CD
0.14%$1k-Business 182 Day CD
0.10%$1k-91 Day CD
0.10%$1k-Business 91 Day CD

Heritage Bank has 13 locations. Click to view all Heritage Bank locations.