First Bank Elk River

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Overview / Commentary

763-241-3637

812 Main Street
Elk River, MN 55330

First Bank Elk River is headquartered in Elk River and is the 52^nd largest bank in the state of Minnesota. It is also the 2,058^th largest bank in the nation. It was established in 1907 and as of March of 2021, it had grown to 48 employees at 4 locations. First Bank Elk River has an A health rating.

Related Posts

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2009

11/27 - 3.50% Reward Checking Account at First National Bank of Elk River in MN

Reviews (1)

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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!

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1

Health

A

Data as of Q1 2021

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	5136
Year Established	1907
Employees	48
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.81%
Return on Equity - YTD	9.57%
Annual Interest Income	$2.8MM

Assets and Liabilities
Assets	Q1 2021vs Q1 2020	$388.8MM$285.2MM
Loans	Q1 2021vs Q1 2020	$216.6MM$173.8MM
Deposits	Q1 2021vs Q1 2020	$313.6MM$211.5MM
Equity Capital	Q1 2021vs Q1 2020	$31.7MM$29.9MM
Loan Loss Allowance	Q1 2021vs Q1 2020	$1.9MM$1.7MM
Unbacked Noncurrent Loans	Q1 2021vs Q1 2020	$528.00K$543.00K
Real Estate Owned	Q1 2021vs Q1 2020	$0$0

Rates

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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

First Bank Elk River Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.05%^*	$10k^*	-	HSA Checking
OTHER TIERS: 0.02% → Up to $10k
0.05%	-	-	First Dollars Savings
0.05%	-	-	Traditional Savings

First Bank Elk River Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.45%^*	$250k^*	-	Premium Money Market Savings
OTHER TIERS: 0.05% → Up to $25k \| 0.10% → $25k - $50k \| 0.20% → $50k - $100k \| 0.35% → $100k - $250k
0.20%^*	$25k^*	-	Money Market Savings
OTHER TIERS: 0.05% → Up to $1k \| 0.10% → $1k - $5k \| 0.15% → $5k - $25k

First Bank Elk River Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.10%	-	-	First Friends Interest Checking
0.05%	-	-	Lifestyle Checking

First Bank Elk River CD Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.85%^*	$10k^*	-	4 Year CD
OTHER TIERS: 0.75% → $500 - $2.5k \| 0.80% → $2.5k - $10k
0.70%^*	$10k^*	-	3 Year CD
OTHER TIERS: 0.60% → $500 - $2.5k \| 0.65% → $2.5k - $10k
0.55%^*	$2.5k^*	-	2 Year CD
OTHER TIERS: 0.50% → $500 - $2.5k
0.45%^*	$2.5k^*	-	18 Month CD
OTHER TIERS: 0.40% → $500 - $2.5k
0.35%^*	$10k^*	-	1 Year CD
OTHER TIERS: 0.25% → $500 - $2.5k \| 0.30% → $2.5k - $10k
0.20%^*	$10k^*	-	182 Day CD
OTHER TIERS: 0.10% → $500 - $2.5k \| 0.15% → $2.5k - $10k
0.05%^*	$2.5k^*	-	91 Day CD
OTHER TIERS: 0.01% → $500 - $2.5k

First Bank Elk River IRA Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.85%^*	$10k^*	-	4 Year IRA
OTHER TIERS: 0.75% → $500 - $2.5k \| 0.80% → $2.5k - $10k
0.70%^*	$10k^*	-	3 Year IRA
OTHER TIERS: 0.60% → $500 - $2.5k \| 0.65% → $2.5k - $10k
0.55%^*	$2.5k^*	-	2 Year IRA
OTHER TIERS: 0.50% → $500 - $2.5k
0.45%^*	$2.5k^*	-	18 Month IRA
OTHER TIERS: 0.40% → $500 - $2.5k
0.35%^*	$10k^*	-	1 Year IRA
OTHER TIERS: 0.25% → $500 - $2.5k \| 0.30% → $2.5k - $10k
0.20%^*	$10k^*	-	182 Day IRA
OTHER TIERS: 0.10% → $500 - $2.5k \| 0.15% → $2.5k - $10k
0.05%^*	$2.5k^*	-	91 Day IRA
OTHER TIERS: 0.01% → $500 - $2.5k

Locations

First Bank Elk River Locations
Anoka Branch	1121 West Highway 10	Anoka, MN 55303
Hassan Branch	13785 Rogers Drive	Rogers, MN 55374
Elk Park Center Branch	19157 Freeport Avenue	Elk River, MN 55330
The First National Bank Of Elk River	812 Main Street	Elk River, MN 55330

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