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 152nd largest bank in the state of Minnesota. It is also the 3,723rd largest bank in the nation. It was established in 1999 and as of December of 2020, it had grown to 21 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
B+

Health Grade Components

Overall
FDIC Certificate #35172
Year Established1999
Employees21
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.07%
Return on Equity - YTD0.58%
Annual Interest Income$5.4MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$129.3MM$107.6MM
LoansQ4 2020vs Q4 2019$91.6MM$87.0MM
DepositsQ4 2020vs Q4 2019$111.8MM$89.8MM
Equity CapitalQ4 2020vs Q4 2019$14.4MM$14.2MM
Loan Loss AllowanceQ4 2020vs Q4 2019$679.00K$734.00K
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$1.1MM$1.7MM
Real Estate OwnedQ4 2020vs Q4 2019$1.3MM$1.5MM
Rates

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

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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