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Overview / Commentary
952-461-4636
461 Main Street
Elko New Market, MN 55054

New Market Bank is headquartered in Elko New Market and is the 186th largest bank in the state of Minnesota. It is also the 4,940th largest bank in the nation. It was established in 1905 and as of March of 2014, it had grown to 21 employees at 4 locations. New Market Bank has a C+ health rating.

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Health

Data for Q1 2014

Institution Health

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

Texas Ratio

GRADE:
C

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 New Market Bank had $4.24 million in non-current loans and owned real-estate with $8.6 million in equity and loan loss allowances on hand to cover it. This gives New Market Bank a Texas Ratio of 49.24% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for New Market Bank experienced no significant changes from 44.06% as of March 31, 2013 to 49.24% as of March 31, 2014, resulting in a negative change of 11.75%. This indicates that the balance sheet and financial strength for New Market Bank has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, New Market Bank has increased its total deposits by $9.48 million, resulting in 12.92% 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 New Market Bank has shown is excellent.

Capitalization

GRADE:
C+

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. New Market Bank has $91.36 million in assets with $8.6 million in equity, resulting in a capitalization level of 9.41%, which is average.

Institution Statistics

Overall
FDIC Certificate #1931
Year Established1905
Employees21
Primary RegulatorFDIC
Assets and Liabilities
Assets$91.36 million
Loans$44.11 million
Deposits$82.91 million
Equity Capital$7.62 million
Loan Loss Allowance$981,000
Unbacked Noncurrent Loans$606,000
Real Estate Owned$3.63 million
Historic Data - March 2013
Assets$82.87 million
Equity Capital$7.75 million
Loan Loss Allowance$1.18 million
Unbacked Noncurrent Loans$606,000
Real Estate Owned$2.69 million
Profit Margin - Quarterly
Net Interest Margin2.89%
Return on Assets0.01%
Return on Equity0.16%
Interest Income$640,000
Rates

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

New Market Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.40%$250k-Premium Savings
0.15%$10k-Health Savings Account
0.05%--Regular Savings

New Market Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.20%$50k-Money Market Plus Savings
0.15%$25k-Money Market Savings

New Market Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$10k-Prestige Gold
0.03%--Prestige Plus

New Market Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.05%$500-60 Month CD
0.80%$500-48 Month CD
0.60%$500-36 Month CD
0.40%$500-24 Month CD
0.25%$1k-18 Month CD
0.15%$1k-12 Month CD
0.12%$1k-9 Month CD
0.10%$2,500-6 Month CD
0.08%$2,500-3 Month CD
Locations


New Market Bank Locations
Kendrick Branch11175 205th St WLakeville, MN 55044
Lake Marion Branch20151 Icenic TrailLakeville, MN 55044
New Market Bank461 Main StreetElko New Market, MN 55054
Prior Lake Branch4719 Park Nicollet Ave Se Suite 100Prior Lake, MN 55372