Deerwood Bank

Overview / Commentary
131 6Th Ave South, # 100
Waite Park, MN 56387

Deerwood Bank is headquartered in Waite Park and is the 18th largest bank in the state of Minnesota. It is also the 961st largest bank in the nation. It was established in 1910 and as of June of 2022, it had grown to 175 employees at 12 locations. Deerwood Bank's savings rates are 63% higher than the national average, and it has an A health rating.


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Health Grade Components

FDIC Certificate #5123
Year Established1910
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.7%
Return on Equity - YTD7.98%
Annual Interest Income$15.9MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$1.02B$1.00B
LoansQ2 2022vs Q2 2021$659.5MM$676.6MM
DepositsQ2 2022vs Q2 2021$925.9MM$907.9MM
Equity CapitalQ2 2022vs Q2 2021$88.9MM$91.2MM
Loan Loss AllowanceQ2 2022vs Q2 2021$5.7MM$5.4MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$1.6MM$5.8MM
Real Estate OwnedQ2 2022vs Q2 2021$25.00K$424.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Deerwood Bank Savings Account Rates

0.85%*$200k*-My Savings Plus
OTHER TIERS: 0.15% Up to $20k | 0.25% $20k - $200k
0.85%*$200k*-Business Savings Plus
OTHER TIERS: 0.15% Up to $20k | 0.25% $20k - $200k
0.25%*$20k*-Health Savings Account
OTHER TIERS: 0.05% Up to $1k | 0.10% $1k - $10k | 0.15% $10k - $20k
0.20%*$1k*-My Savings
OTHER TIERS: 0.10% Up to $1k
0.20%*$1k*-Buckaroo Club
OTHER TIERS: 0.10% Up to $1k
0.20%*$1k*-Business Savings
OTHER TIERS: 0.10% Up to $1k

Deerwood Bank Checking Account Rates

0.30%--YES Club Checking
0.10%*$5k*-My Money+
OTHER TIERS: 0.05% Up to $5k
0.10%*$5k*-Business Checking +
OTHER TIERS: 0.05% Up to $5k

Deerwood Bank CD Rates

2.27%$500-48 Month CD
2.02%$500-36 Month CD
1.26%$500-24 Month CD
1.00%$1k-12 Month CD
0.60%$2.5k-6 Month CD

Deerwood Bank IRA Rates

2.02%$500-36 Month Fixed IRA
1.26%$500-24 Month Fixed IRA
1.00%$500-12 Month Fixed IRA
0.60%$500-12 Month Variable IRA

Deerwood Bank Locations
Plaza Park Branch2351 Connecticut Ave. S, Suite 100Sartell, MN 56377
Baxter Br21236 Archibald RdDeerwood, MN 56444

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