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Boundary Waters Bank


Overview / Commentary
218-365-6181
601 East Sheridan Street
Ely, MN 55731

Boundary Waters Bank is headquartered in Ely and is the 154th largest bank in the state of Minnesota. It is also the 3,963rd largest bank in the nation. It was established in 1999 and as of March of 2019, it had grown to 22 employees at 3 locations. Boundary Waters Bank's money market rates are 3X the national average, and it has a C+ health rating.

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Health
C+

Health Grade Components

Overall
FDIC Certificate #35172
Year Established1999
Employees22
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.76%
Return on Equity - YTD6.28%
Annual Interest Income$1.4MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$108.3MM$121.5MM
LoansQ1 2019vs Q1 2018$91.6MM$102.2MM
DepositsQ1 2019vs Q1 2018$76.0MM$94.5MM
Equity CapitalQ1 2019vs Q1 2018$13.4MM$12.1MM
Loan Loss AllowanceQ1 2019vs Q1 2018$715.00K$687.00K
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$2.3MM$0
Real Estate OwnedQ1 2019vs Q1 2018$261.00K$861.00K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Boundary Waters Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.80%*$250k*-IRA Savings
OTHER TIERS: 0.15% $1k - $10k | 0.25% $10k - $25k | 0.50% $25k - $50k | 0.60% $50k - $100k | 0.75% $100k - $249k
0.20%--Superior Savings

Boundary Waters Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.45%*$500k*-Outfitter MMDA
OTHER TIERS: 0.15% $1k - $10k | 0.50% $10k - $50k | 0.75% $50k - $100k | 0.95% $100k - $250k | 1.15% $250k - $500k

Boundary Waters Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%--NOW Account
Locations


Boundary Waters Bank Locations
Blaine Branch11800 Aberdeen Street N.E.Blaine, MN 55434
Woodbury Branch2230 Eagle Creek LaneWoodbury, MN 55125
Boundary Waters Bank601 East Sheridan StreetEly, MN 55731

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