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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 190th largest bank in the state of Minnesota. It is also the 4,240th largest bank in the nation. It was established in 1915 and as of December of 2020, it had grown to 19 employees at 4 locations. Farmers State Bank of Underwood has an A health rating.

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Health
A

Data as of Q4 2020

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
Employees19
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.15%
Return on Equity - YTD12.84%
Annual Interest Income$4.1MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$84.7MM$73.0MM
LoansQ4 2020vs Q4 2019$63.4MM$53.1MM
DepositsQ4 2020vs Q4 2019$73.7MM$63.8MM
Equity CapitalQ4 2020vs Q4 2019$7.3MM$7.2MM
Loan Loss AllowanceQ4 2020vs Q4 2019$863.00K$788.00K
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$48.00K$752.00K
Real Estate OwnedQ4 2020vs Q4 2019$263.00K$0
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
2.00%*-$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 Branch204 W Cavour AveFergus Falls, MN 56537

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