Overview / Commentary
First Bank Elk River is headquartered in ELK RIVER and is the 68th largest bank in the state of Minnesota. It is also the 2,213th largest bank in the nation. It was established in 1907 and as of September of 2024, it had grown to 46 employees at 4 locations. First Bank Elk River has a B+ health rating.
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Reviews (1)
Savings Account And Service Charge
Posted by: Takingmydough | Jul 6, 2021
I had a savings account and thought I was getting charged a $15.00 a year service charge. I discovered I was getting charged $15.00 a month for this. I would never sign up for that. Why would I let someone just take my money each month. Why the service charge anyway? Where is my cut of the profit you made on my money while it was in your bank. I can't believe you people get away with this crap. YOU OWE ME!
Health
B+
Data as of Q3 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 5136 |
| Year Established | 1907 |
| Employees | 46 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.55% |
| Return on Equity - YTD | 8.4% |
| Annual Interest Income | $11.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $362.2MM$343.7MM |
| Loans | Q3 2024vs Q3 2023 | $256MM$244.2MM |
| Deposits | Q3 2024vs Q3 2023 | $281.9MM$280.2MM |
| Equity Capital | Q3 2024vs Q3 2023 | $26.2MM$15MM |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $2.5MM$2.4MM |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $65K$39K |
| Real Estate Owned | Q3 2024vs Q3 2023 | $0$0 |