Drake Bank is headquartered in SAINT PAUL and is the 94th largest bank in the state of Minnesota. It is also the 2,744th largest bank in the nation. It was established in 2002 and as of December of 2024, it had grown to 39 employees at 1 location. Drake Bank's savings rates are 9X the national average, and it has a C+ health rating.
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.
Overall | |
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FDIC Certificate # | 57336 |
Year Established | 2002 |
Employees | 39 |
Primary Regulator | FDIC |
Profit Margin | |
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Return on Assets - YTD | 0.75% |
Return on Equity - YTD | 9.75% |
Annual Interest Income | $16.2MM |
Assets and Liabilities | ||
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Assets | Q4 2024vs Q4 2023 | $253MM$235.6MM |
Loans | Q4 2024vs Q4 2023 | $210.9MM$180.2MM |
Deposits | Q4 2024vs Q4 2023 | $210.3MM$197MM |
Equity Capital | Q4 2024vs Q4 2023 | $19.9MM$18.2MM |
Loan Loss Allowance | Q4 2024vs Q4 2023 | $2.7MM$2.6MM |
Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $4.5MM$34K |
Real Estate Owned | Q4 2024vs Q4 2023 | $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 Locations | ||
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Drake Bank | 60 Plato Blvd E | Saint Paul, MN 55107 |