Drake Bank


Overview / Commentary
651-224-5000
60 East Plato Blvd, Suite 100
Saint Paul, MN 55107

Drake Bank is headquartered in SAINT PAUL and is the 110th largest bank in the state of Minnesota. It is also the 2,943rd largest bank in the nation. It was established in 2002 and as of September of 2023, it had grown to 39 employees at 1 location. Drake Bank has an A health rating.

Reviews (1)

Avoid At All Cost

Posted by: |

Drake Bank pretends to be a community bank, but their bankers are completely inept. You'll get amortization explanations / documents in HAND WRITTEN formats. Maybe they think it's 1985 still?

Confusing, overreaching, and inept bankers pretending to understand your business. Do not bank with them. They'll require exhaustive documentation and wheigh in on how to run your business when clearly, none of them have any actual business experience.

The online experience is what you'd expect from 2003, maybe 2004. Clunky, very little account information, and primitive compared to any large bank experience.

There are so many choices in banking, and you should not choose this bank. You will regret it.



Health

Health Grade Components

Overall
FDIC Certificate #57336
Year Established2002
Employees39
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.39%
Return on Equity - YTD5.4%
Annual Interest Income$8.8MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$212.3MM$195.7MM
LoansQ3 2023vs Q3 2022$174MM$147.2MM
DepositsQ3 2023vs Q3 2022$184.7MM$170.9MM
Equity CapitalQ3 2023vs Q3 2022$17.2MM$14.1MM
Loan Loss AllowanceQ3 2023vs Q3 2022$2.4MM$1.7MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$391K$231K
Real Estate OwnedQ3 2023vs Q3 2022$0$0
Rates

Rates for Drake Bank are currently being reviewed.

Locations


Drake Bank Locations
Drake Bank60 Plato Blvd ESaint Paul, MN 55107

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