Center National Bank is headquartered in Litchfield and is the 92nd largest bank in the state of Minnesota. It is also the 2,800th largest bank in the nation. It was established in 1891 and as of December of 2020, it had grown to 39 employees at 2 locations. Center National Bank has an A+ health rating.
Nothing Bad To Say
This bank is the only one that I have delt with that consistantly has good customer service (I have used both the Litchfield and Plymoth branches) and a great interest rate.
Being a small bank they do lack some services like having forien currency availible. But they more than make up for it in other ways.
I am a Center Customer and I recomend them to all my freinds.
Amount Dropping In June
The rate is still 4.11% but the amount is dropping to $10,000 in June 2011.
I Had A Wonderful Experience At Center National Bank
I had a wonderful experience at Center National Bank. My Rewards Checking works well for me. I have no problem reaching my 10 debit card transactions. (Actually I make over 30 a month). And I was surprised how much interest 4.11% adds up to! I don't use an ATM machine every day, but when I do I can go to any ATM and the bank will reimburse me for the charge. Nobody likes an ATM fee.
This Rewards Checking actually works better for me than using a "Rewards", "Cash Back" or “Points” credit card. I think of it this way, I'm earning on what I SAVE not what I SPEND. And in an economy like this, that is a smarter option for me.
The service was great too; they aren’t pushy like most of the larger banks. I opened my account at the Plymouth branch which is closer to my house.
You should check it out.
BAD SERVICE
I had gone to Litchfields MN Center Bank. As I was walking into the bank two people were asking a teller questions about their account. The younger teller refused to answer questions about the account. The one customer asked if she was in training. I was thinking the customer was going to get help to answer the questions that were important to her. The teller rolled her eyes not once but twice at them. The lady asked please do not roll your eyes at us. The older teller next to the young teller yelled very loud at both of them. The lady at the door also did. Both of these tellers and the lady by the door at the desk should of been fired. Or quit. I had to write this review to really let people know you can come to this bank but you will get bad service. I felt like running after these people and ask if they were okay? I felt bad for those nice people.
Data as of Q4 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 10976 |
| Year Established | 1891 |
| Employees | 39 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.52% |
| Return on Equity - YTD | 12.81% |
| Annual Interest Income | $8.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $234.0MM$194.7MM |
| Loans | Q4 2020vs Q4 2019 | $125.3MM$114.2MM |
| Deposits | Q4 2020vs Q4 2019 | $206.2MM$162.7MM |
| Equity Capital | Q4 2020vs Q4 2019 | $25.7MM$23.4MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $1.6MM$1.3MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $0$219.00K |
| Real Estate Owned | Q4 2020vs Q4 2019 | $27.00K$0 |