Reliance Bank (MN)

Reliance Bank (MN) is headquartered in Faribault and is the 249^th largest bank in the state of Minnesota. It is also the 6,040^th largest bank in the nation. It was established in 2007 and as of March of 2012, it had grown to 13 employees at 1 location. Reliance Bank (MN)'s savings rates are 3X the national average, and it has a 4-star health rating.

Reliance Bank (MN) Checking Account Rates

Reliance Bank (MN) Savings Account Rates

Reliance Bank (MN) Money Market Rates

Reliance Bank (MN) CD Rates

Reliance Bank (MN) IRA Rates

Data for Q1 2012

Institution Statistics Reliance Bank FDIC Certificate # 58602 BankRate Report View Year Established 2007 Employees 13 Primary Regulator FDIC Assets and Liabilities Assets $61.26 million Loans $42.95 million Deposits $52.13 million Equity Capital $8.19 million Loan Loss Allowance $1.29 million Unbacked Noncurrent Loans $1.45 million Real Estate Owned $1.02 million Historic Data - March 2011 Assets $59.92 million Equity Capital $7.73 million Loan Loss Allowance $1.36 million Unbacked Noncurrent Loans $1.66 million Real Estate Owned $934,000 Profit Margin - Quarterly Net Interest Margin 4.13% Return on Assets 1.47% Return on Equity 11.16% Interest Income $704,000

Institution Health Overall Score: 4 out of 5 Texas Ratio 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 March 31, 2012 Reliance Bank (MN) had $2.47 million in non-current loans and owned real-estate with $9.48 million in equity and loan loss allowances on hand to cover it. This gives Reliance Bank (MN) a Texas Ratio of 26.07% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for Reliance Bank (MN) held steady from 29.17% as of March 31, 2011 to 26.07% as of March 31, 2012, resulting in a positive change of 10.60%.This indicates that the balance sheet and financial strength for Reliance Bank (MN) has held steady in recent periods. Deposit Growth In the past year, Reliance Bank (MN) has increased its total deposits by $311,000, resulting in 0.6% 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 Reliance Bank (MN) has shown is average. Capitalization 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. Reliance Bank (MN) has $61.26 million in assets with $9.48 million in equity, resulting in a capitalization level of 15.47%, which is excellent.

No reviews have been left for this bank yet. Be the first to review.