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Overview / Commentary
952-447-2101
16677 Duluth Avenue, S.E.
Prior Lake, MN 55372

Prior Lake State Bank is headquartered in Prior Lake and is the 80th largest bank in the state of Minnesota. It is also the 2,929th largest bank in the nation. It was established in 1903 and as of June of 2014, it had grown to 26 employees at 4 locations. Prior Lake State Bank has a A+ health rating.

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Health

Data for Q2 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 June 30, 2014 Prior Lake State Bank had $1.31 million in non-current loans and owned real-estate with $25.4 million in equity and loan loss allowances on hand to cover it. This gives Prior Lake State Bank a Texas Ratio of 5.15% 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 Prior Lake State Bank decreased dramatically from 12.72% as of June 30, 2013 to 5.15% as of June 30, 2014, resulting in a positive change of 59.48%.This indicates that the balance sheet and financial strength for Prior Lake State Bank has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Prior Lake State Bank has increased its total deposits by $17.18 million, resulting in 10.31% 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 Prior Lake State Bank has shown is excellent.

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. Prior Lake State Bank has $209.56 million in assets with $25.4 million in equity, resulting in a capitalization level of 12.12%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #10166
Year Established1903
Employees26
Primary RegulatorFDIC
Assets and Liabilities
Assets$209.56 million
Loans$107.96 million
Deposits$183.90 million
Equity Capital$25.39 million
Loan Loss Allowance$6,000
Unbacked Noncurrent Loans$397,000
Real Estate Owned$912,000
Historic Data - June 2013
Assets$193.56 million
Equity Capital$26.31 million
Loan Loss Allowance$2.21 million
Unbacked Noncurrent Loans$397,000
Real Estate Owned$1.72 million
Profit Margin - Quarterly
Return on Assets0.21%
Return on Equity1.57%
Interest Income$501,000
Rates
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Prior Lake State Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.60%-$15kFree Rewards Checking - Qualifying
0.02%--Free Rewards Checking - Non Qualifying

Prior Lake State Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.15%$500-60 Month CL50 CD
1.05%$500-60 Month CD
0.95%$500-48 Month CL50 CD
0.85%$500-48 Month CD
0.75%$500-36 Month CL50 CD
0.65%$500-36 Month CD
0.55%$500-24 Month CL50 CD
0.45%$500-24 Month CD
0.35%$500-12 Month CL50 CD
0.25%$500-12 Month CD
0.25%$2,500-182 Day CL50 CD
0.20%$2,500-91 Day CL50 CD
0.15%$2,500-182 Day CD
0.10%$2,500-91 Day CD

Prior Lake State Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.15%$500-60 Month IRA
0.95%$500-48 Month IRA
0.75%$500-36 Month IRA
0.55%$500-24 Month IRA
0.35%$500-12 Month IRA
0.25%$2,500-182 Day IRA
0.20%$2,500-91 Day IRA
Locations


Prior Lake State Bank Locations
Mckenna Crossing Branch13810 Shepherd's Path N.W. Suite 139Prior Lake, MN 55379
Crossroads Facility14033 Commerce AvenuePrior Lake, MN 55372
Prior Lake State Bank16677 Duluth Avenue, S.E.Prior Lake, MN 55372