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Overview / Commentary
218-624-3676
331 North Central Avenue
Duluth, MN 55807

The Pioneer National Bank of Duluth is headquartered in Duluth and is the 208th largest bank in the state of Minnesota. It is also the 5,237th largest bank in the nation. It was established in 1912 and as of December of 2013, it had grown to 24 employees at 3 locations. The Pioneer National Bank of Duluth has a B+ health rating.

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Health

Data for Q4 2013

Institution Health

B+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. The Pioneer National Bank of Duluth has a relatively low asset base.

Texas Ratio

GRADE:
A+

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 December 31, 2013 The Pioneer National Bank of Duluth had $707,000 in non-current loans and owned real-estate with $9.1 million in equity and loan loss allowances on hand to cover it. This gives The Pioneer National Bank of Duluth a Texas Ratio of 7.77% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for The Pioneer National Bank of Duluth decreased slightly from 9.76% as of December 31, 2012 to 7.77% as of December 31, 2013, resulting in a positive change of 20.42%.This indicates that the balance sheet and financial strength for The Pioneer National Bank of Duluth has improved slightly in recent periods.

Deposit Growth

GRADE:
C

In the past year, The Pioneer National Bank of Duluth has decreased its total deposits by -$1.72 million, resulting in -2.48% 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 The Pioneer National Bank of Duluth has shown is average.

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. The Pioneer National Bank of Duluth has $79.87 million in assets with $9.1 million in equity, resulting in a capitalization level of 11.40%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #5130
Year Established1912
Employees24
Primary RegulatorOCC
Assets and Liabilities
Assets$79.87 million
Loans$61.75 million
Deposits$67.47 million
Equity Capital$8.47 million
Loan Loss Allowance$632,000
Unbacked Noncurrent Loans$247,000
Real Estate Owned$460,000
Historic Data - December 2012
Assets$81.37 million
Equity Capital$8.58 million
Loan Loss Allowance$559,000
Unbacked Noncurrent Loans$247,000
Real Estate Owned$855,000
Profit Margin - Quarterly
Net Interest Margin4.59%
Return on Assets0.97%
Return on Equity8.86%
Interest Income$3.62 million
Rates

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The Pioneer National Bank of Duluth Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$50-Pioneer Regular Savings
0.05%$50-IRA Savings Account

The Pioneer National Bank of Duluth Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$25k-Pioneer Premium Money Market Savings
0.10%$2,500-Money Market Savings

The Pioneer National Bank of Duluth Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$1k-Pioneer Interest Bearing Checking
0.05%$2,500-Preferred Rate Checking
0.05%$5k-Young Pioneer Checking

The Pioneer National Bank of Duluth CD Rates

DetailsAPYMINMAXPRODUCT
1.14%$1k-60 Month CD
0.96%$1k-48 Month CD
0.64%$1k-36 Month CD
0.50%$1k-24 Month CD
0.35%$1k-11 Month Special CD
0.25%$1k-6 Month CD
0.25%$1k-12 Month CD
0.06%$1k-3 Month CD
Locations


The Pioneer National Bank of Duluth Locations
Mt Royal Branch120 Mt Royal Shopping CircleDuluth, MN 55803
Miller Hill Mall Branch1600 Miller Trunk HighwayDuluth, MN 55811
The Pioneer National Bank Of Duluth331 North Central AvenueDuluth, MN 55807