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Farmers State Bank of Underwood


Overview / Commentary
www.farmersstbank.com
218-826-6112
110 Main St
Underwood, MN 56586

Farmers State Bank of Underwood is headquartered in Underwood and is the 179th largest bank in the state of Minnesota. It is also the 4,022nd largest bank in the nation. It was established in 1915 and as of March of 2022, it had grown to 21 employees at 4 locations. Farmers State Bank of Underwood has a B+ health rating.

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Health
B+

Data as of Q1 2022

Learn why bank health matters
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. Farmers State Bank of Underwood has a relatively low asset base.

Health Grade Components

Overall
FDIC Certificate #10174
Year Established1915
Employees21
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.92%
Return on Equity - YTD13.91%
Annual Interest Income$1.0MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$99.3MM$91.8MM
LoansQ1 2022vs Q1 2021$68.8MM$65.4MM
DepositsQ1 2022vs Q1 2021$89.1MM$80.9MM
Equity CapitalQ1 2022vs Q1 2021$6.1MM$7.2MM
Loan Loss AllowanceQ1 2022vs Q1 2021$906.00K$897.00K
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$36.00K$0
Real Estate OwnedQ1 2022vs Q1 2021$85.00K$263.00K
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 of Underwood Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*-$15kKasasa Saver
OTHER TIERS: 0.25% → $15k+

Farmers State Bank of Underwood Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.25%*-$15kKasasa Cash
OTHER TIERS: 0.25% → $15k+
Locations


Farmers State Bank of Underwood Locations
Dalton Branch105 Main Street WestDalton, MN 56324
Farmers State Bank Of Underwood110 Main StUnderwood, MN 56586
Rothsay Branch451 Center Street NorthRothsay, MN 56579
Fergus Falls Branch1114 North Union Avenue, Suite BFergus Falls, MN 56537

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