Drake Bank

Overview / Commentary
60 East Plato Blvd, Suite 100
Saint Paul, MN 55107

Drake Bank is headquartered in Saint Paul and is the 118th largest bank in the state of Minnesota. It is also the 3,169th largest bank in the nation. It was established in 2002 and as of June of 2022, it had grown to 33 employees at 1 location. Drake Bank has a B+ 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 Grade Components

FDIC Certificate #57336
Year Established2002
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.67%
Return on Equity - YTD7.75%
Annual Interest Income$3.9MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$189.3MM$182.4MM
LoansQ2 2022vs Q2 2021$141.0MM$126.8MM
DepositsQ2 2022vs Q2 2021$162.4MM$149.4MM
Equity CapitalQ2 2022vs Q2 2021$15.3MM$13.5MM
Loan Loss AllowanceQ2 2022vs Q2 2021$1.7MM$2.0MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$0$0
Real Estate OwnedQ2 2022vs Q2 2021$0$0

Rates for Drake Bank are currently being reviewed.


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

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