Deerwood Bank

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

Deerwood Bank is headquartered in WAITE PARK and is the 16th largest bank in the state of Minnesota. It is also the 958th largest bank in the nation. It was established in 1910 and as of December of 2023, it had grown to 169 employees at 12 locations. Deerwood Bank's CD rates are 5X the national average, and it has a B+ health rating.


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Health Grade Components

FDIC Certificate #5123
Year Established1910
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.17%
Return on Equity - YTD12.9%
Annual Interest Income$47.1MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$1.06B$1.04B
LoansQ4 2023vs Q4 2022$756.4MM$679.4MM
DepositsQ4 2023vs Q4 2022$866.4MM$926.1MM
Equity CapitalQ4 2023vs Q4 2022$102.4MM$93MM
Loan Loss AllowanceQ4 2023vs Q4 2022$5.3MM$5.1MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$1.8MM$1MM
Real Estate OwnedQ4 2023vs Q4 2022$109K$115K
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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

3.04%*$20k*-Health Savings Account
OTHER TIERS: 0.10% Up to $1k | 0.20% $1k - $2.5k | 0.25% $2.5k - $5k | 0.35% $5k - $10k | 0.60% $10k - $20k
1.76%*$200k*-My Savings Plus
OTHER TIERS: 0.60% Up to $20k | 0.75% $20k - $200k
1.76%*$200k*-Business Savings Plus
OTHER TIERS: 0.60% Up to $20k | 0.75% $20k - $200k
0.35%*$1k*-My Savings
OTHER TIERS: 0.25% Up to $1k
0.35%*$1k*-Buckaroo Club
OTHER TIERS: 0.25% Up to $1k
0.35%*$1k*-Business Savings
OTHER TIERS: 0.25% Up to $1k

Deerwood Bank Checking Account Rates

0.40%--YES Club Checking
0.20%*$5k*-My Money+
OTHER TIERS: 0.10% Up to $5k
0.20%*$5k*-Business Checking +
OTHER TIERS: 0.10% Up to $5k

Deerwood Bank CD Rates

4.52%$1k-12 Month CD
3.55%$2.5k-6 Month CD
2.98%$500-24 Month CD
2.78%$500-48 Month CD
2.52%$500-36 Month CD

Deerwood Bank IRA Rates

4.54%$500-12 Month Fixed IRA
2.99%$500-24 Month Fixed IRA
2.78%$500-12 Month Variable IRA
2.53%$500-36 Month Fixed IRA

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

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