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Farmers State Bank


Overview / Commentary
507-845-2233
601 N. Broadway
Hartland, MN 56042

Farmers State Bank is headquartered in Hartland and is the 109th largest bank in the state of Minnesota. It is also the 3,339th largest bank in the nation. It was established in 1912 and as of March of 2019, it had grown to 26 employees at 3 locations. Farmers State Bank's savings rates are 3X the national average, and it boasts an A+ health rating.

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Health
A+

Health Grade Components

Overall
FDIC Certificate #10561
Year Established1912
Employees26
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.53%
Return on Equity - YTD13.2%
Annual Interest Income$1.8MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$155.6MM$151.5MM
LoansQ1 2019vs Q1 2018$109.5MM$106.7MM
DepositsQ1 2019vs Q1 2018$137.0MM$135.0MM
Equity CapitalQ1 2019vs Q1 2018$18.3MM$16.4MM
Loan Loss AllowanceQ1 2019vs Q1 2018$1.4MM$1.1MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$102.00K$439.00K
Real Estate OwnedQ1 2019vs Q1 2018$0$303.00K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Farmers State Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.63%--Individual Retirement Account
2.00%*-$15kKasasa Saver
OTHER TIERS: 1.01% $15k+
1.36%*$500k*-Business Savings
OTHER TIERS: 0.70% $5k - $25k | 0.85% $25k - $100k | 1.06% $100k - $500k
1.31%*$75k*-Prime Savings
OTHER TIERS: 0.60% $5k - $15k | 0.90% $15k - $50k | 1.01% $50k - $75k
1.01%*$5k*-Health Savings Account
OTHER TIERS: 0.25% Up to $5k
0.55%*$1k*-Simple Savings
OTHER TIERS: 0.30% Up to $1k

Farmers State Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%*-$15kKasasa Cash
OTHER TIERS: 1.01% $15k+
0.80%--Classic Checking
0.40%*$5k*-Growth Checking
OTHER TIERS: 0.20% $1k - $2.5k | 0.30% $2.5k - $5k
0.05%--Small Business Checking

Farmers State Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.63%$500-48 Month CD
2.63%$500-Business 48 Month CD
2.52%$500-36 Month CD
2.52%$500-Business 36 Month CD
2.47%$500-60 Month "Opt Up" CD
2.47%$500-Business 60 Month "Opt Up" CD
2.32%$500-13 Month CD Special
2.32%$5k-Business 13 Month CD Special
2.27%$500-33 Month "Opt Up" CD
2.27%$500-Business 33 Month "Opt Up" CD
2.02%$500-24 Month CD
2.02%$500-Business 24 Month CD
1.51%*$100k*-18 Month CD
OTHER TIERS: 1.21% $500 - $50k | 1.31% $50k - $100k
1.51%*$100k*-Business 18 Month CD
OTHER TIERS: 1.21% $500 - $50k | 1.31% $50k - $100k
1.31%*$100k*-12 Month CD
OTHER TIERS: 1.11% $500 - $50k | 1.21% $50k - $100k
1.31%*$100k*-Business 12 Month CD
OTHER TIERS: 1.11% $500 - $50k | 1.21% $50k - $100k
1.26%*$100k*-6 Month CD
OTHER TIERS: 1.06% $500 - $50k | 1.16% $50k - $100k
1.26%*$100k*-Business 6 Month CD
OTHER TIERS: 1.06% $500 - $50k | 1.16% $50k - $100k

Farmers State Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.63%$500-48 Month IRA
2.52%$500-36 Month IRA
2.47%$500-60 Month "Opt Up" IRA
2.27%$500-33 Month "Opt Up" IRA
2.02%$500-24 Month IRA
1.51%*$100k*-18 Month IRA
OTHER TIERS: 1.21% $500 - $50k | 1.31% $50k - $100k
1.31%*$100k*-12 Month IRA
OTHER TIERS: 1.11% $500 - $50k | 1.21% $50k - $100k
1.26%*$100k*-6 Month IRA
OTHER TIERS: 1.06% $500 - $50k | 1.16% $50k - $100k
Locations


Farmers State Bank Locations
Albert Lea Branch1452 W. Main St.Albert Lea, MN 56007
Freeborn Branch215 5th AveFreeborn, MN 56032
Farmers State Bank Of Hartland601 N. BroadwayHartland, MN 56042

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