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 96th largest bank in the state of Minnesota. It is also the 2,683rd largest bank in the nation. It was established in 2002 and as of September of 2024, 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 - YTD0.67%
Return on Equity - YTD8.8%
Annual Interest Income$11.9MM
Assets and Liabilities
AssetsQ3 2024vs Q3 2023$261.3MM$212.3MM
LoansQ3 2024vs Q3 2023$192.8MM$174MM
DepositsQ3 2024vs Q3 2023$220.3MM$184.7MM
Equity CapitalQ3 2024vs Q3 2023$19.9MM$17.2MM
Loan Loss AllowanceQ3 2024vs Q3 2023$2.7MM$2.4MM
Unbacked Noncurrent LoansQ3 2024vs Q3 2023$123K$391K
Real Estate OwnedQ3 2024vs Q3 2023$250K$0
Rates

Sorry, we do not have rate data for Drake Bank.

Locations


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

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.