Boundary Waters Bank

Boundary Waters Bank

Overview / Commentary
601 East Sheridan Street
Ely, MN 55731

Boundary Waters Bank is headquartered in Ely and is the 149th largest bank in the state of Minnesota. It is also the 3,712th largest bank in the nation. It was established in 1999 and as of September of 2021, it had grown to 17 employees at 3 locations. Boundary Waters Bank has a B+ health rating.

Reviews (1)

Boundary Waters Bank

Posted by: |

This bank is awesome. I have been banking here for 10 years despite moving away from their locations. I keep thinking it would make sense to change banks to one closer to my current location but I haven't found a comparable bank. They offer online deposit and ready reserve overdraft. They have the same amenities as a larger bank but they have a small town feel. It is the only bank I have ever had that has not surprised me with hidden fees and their customer service has always been great.


Health Grade Components

FDIC Certificate #35172
Year Established1999
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.68%
Return on Equity - YTD6.1%
Annual Interest Income$3.7MM
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$133.7MM$131.7MM
LoansQ3 2021vs Q3 2020$91.2MM$89.4MM
DepositsQ3 2021vs Q3 2020$115.9MM$113.2MM
Equity CapitalQ3 2021vs Q3 2020$15.0MM$14.3MM
Loan Loss AllowanceQ3 2021vs Q3 2020$684.00K$678.00K
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$1.1MM$1.1MM
Real Estate OwnedQ3 2021vs Q3 2020$1.2MM$1.3MM

Sorry, we do not have rate data for Boundary Waters Bank.


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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