Drake Bank

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

Drake Bank is headquartered in Saint Paul and is the 114th largest bank in the state of Minnesota. It is also the 3,161st largest bank in the nation. It was established in 2002 and as of September of 2021, it had grown to 29 employees at 1 location. Drake Bank's savings rates are 7X the national average, and it boasts an A+ health rating.


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Health Grade Components

FDIC Certificate #57336
Year Established2002
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1%
Return on Equity - YTD12.27%
Annual Interest Income$6.2MM
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$197.4MM$152.7MM
LoansQ3 2021vs Q3 2020$134.9MM$131.5MM
DepositsQ3 2021vs Q3 2020$159.5MM$121.3MM
Equity CapitalQ3 2021vs Q3 2020$18.4MM$12.1MM
Loan Loss AllowanceQ3 2021vs Q3 2020$2.0MM$2.0MM
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$0$189.00K
Real Estate OwnedQ3 2021vs Q3 2020$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Drake Bank Savings Account Rates

3.82%*-$1kLittle Drake Savings
OTHER TIERS: 0.25% $1k+
0.35%*$1m*-Investor Savings Account
OTHER TIERS: 0.15% Up to $250k | 0.25% $250k - $1m
0.35%*$1m*-Business Investor Savings Account
OTHER TIERS: 0.15% Up to $250k | 0.25% $250k - $1m
0.10%*$10k*-Preferred Savings Account
OTHER TIERS: 0.07% $1k - $10k
0.10%*$10k*-Business Preferred Savings Account
OTHER TIERS: 0.07% $1k - $10k
0.05%--Basic Savings
0.05%--Business Basic Savings

Drake Bank Checking Account Rates

0.10%*$5k*-Interest Checking Account
OTHER TIERS: 0.05% Up to $5k
0.10%*$25k*-Business Civic Checking Account
OTHER TIERS: 0.07% Up to $25k
0.10%*$5k*-Golden Checking Account
OTHER TIERS: 0.05% Up to $5k

Drake Bank CD Rates

0.60%$500-60 Month CD
0.60%$500-Business 60 Month CD
0.45%$500-48 Month CD
0.45%$500-Business 48 Month CD
0.35%$500-36 Month CD
0.35%$500-Business 36 Month CD
0.30%$500-24 Month CD
0.30%$500-Business 24 Month CD
0.25%$500-12 Month CD
0.25%$500-18 Month CD
0.25%$500-Business 12 Month CD
0.25%$500-Business 18 Month CD
0.20%$500-182 Day CD
0.20%$500-9 Month CD
0.20%$500-Business 182 Day CD
0.20%$500-Business 9 Month CD
0.10%$500-91 Day CD
0.10%$500-Business 91 Day CD

Drake Bank Locations
Drake Bank60 Plato Boulevard, Suite 100Saint Paul, MN 55107

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