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 3,283rd largest bank in the nation. It was established in 2002 and as of June of 2020, it had grown to 26 employees at 1 location. Drake Bank's savings rates are 7X the national average, and it has an A health rating.


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Health Grade Components

FDIC Certificate #57336
Year Established2002
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.59%
Return on Equity - YTD6.83%
Annual Interest Income$4.0MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$167.7MM$125.3MM
LoansQ2 2020vs Q2 2019$126.2MM$106.0MM
DepositsQ2 2020vs Q2 2019$122.5MM$95.5MM
Equity CapitalQ2 2020vs Q2 2019$11.9MM$11.4MM
Loan Loss AllowanceQ2 2020vs Q2 2019$1.9MM$1.1MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$189.00K$3.6MM
Real Estate OwnedQ2 2020vs Q2 2019$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+
0.75%*$1m*-Investor Savings Account
OTHER TIERS: 0.40% Up to $250k | 0.60% $250k - $1m
0.75%*$1m*-Business Investor Savings Account
OTHER TIERS: 0.40% Up to $250k | 0.60% $250k - $1m
0.25%--Basic Savings
0.25%$1k-Preferred Savings Account
0.25%--Business Basic Savings
0.25%$1k-Business Preferred Savings Account

Drake Bank Checking Account Rates

0.25%*$10k*-Interest Checking Account
OTHER TIERS: 0.10% Up to $1k | 0.15% $1k - $5k | 0.20% $5k - $10k
0.25%*$25k*-Business Civic Checking Account
OTHER TIERS: 0.10% Up to $25k
0.25%*$10k*-Golden Checking Account
OTHER TIERS: 0.10% Up to $1k | 0.15% $1k - $5k | 0.20% $5k - $10k

Drake Bank CD Rates

1.30%$500-60 Month CD
1.25%$500-48 Month CD
1.15%$500-36 Month CD
0.85%$500-24 Month CD
0.75%$500-18 Month CD
0.65%$500-12 Month CD
0.50%$500-9 Month CD
0.40%$500-91 Day CD
0.40%$500-182 Day CD

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

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