First Independent Bank (MN)

Overview / Commentary
300 Front Street
Russell, MN 56169

First Independent Bank (MN) is headquartered in Russell and is the 60th largest bank in the state of Minnesota. It is also the 2,303rd largest bank in the nation. It was established in 1903 and as of September of 2019, it had grown to 65 employees at 9 locations. First Independent Bank (MN)'s CD rates are 40% higher than the national average, and it has a B+ health rating.


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Health Grade Components

FDIC Certificate #1900
Year Established1903
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.53%
Return on Equity - YTD13.11%
Annual Interest Income$9.8MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$283.3MM$287.2MM
LoansQ3 2019vs Q3 2018$190.7MM$208.7MM
DepositsQ3 2019vs Q3 2018$227.1MM$216.1MM
Equity CapitalQ3 2019vs Q3 2018$34.1MM$31.3MM
Loan Loss AllowanceQ3 2019vs Q3 2018$3.8MM$3.6MM
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$5.2MM$4.9MM
Real Estate OwnedQ3 2019vs Q3 2018$1.2MM$599.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

First Independent Bank (MN) Savings Account Rates

0.40%*$25k*-Investment Savings
OTHER TIERS: 0.15% Up to $5k | 0.25% $5k - $25k
0.15%--Statement Savings

First Independent Bank (MN) Checking Account Rates

0.15%*$10k*-Investment Checking
OTHER TIERS: 0.10% $1.5k - $10k

First Independent Bank (MN) CD Rates

2.53%$500-48 Month CD
2.12%$500-17 Month CD Special
2.07%$500-13 Month CD Special
2.02%$500-18 Month CD
2.02%$500-30 Month CD
1.26%$500-12 Month CD
0.75%$2.5k-6 Month CD
0.50%$2.5k-3 Month CD

First Independent Bank (MN) IRA Rates

2.27%$1k-48 Month Variable IRA

First Independent Bank (MN) Locations
The Buffalo Ridge Bank Branch101 North Main StreetBeardsley, MN 56211
Marshall Branch105 South MarketMarshall, MN 56258
State Bank Of Lucan Branch106 Main StreetLucan, MN 56255
Balaton Branch108 Third StreetBalaton, MN 56115
Detached Facility110 Third Street NorthHanley Falls, MN 56245
Wal-Mart Location Branch1221 East MainMarshall, MN 56258
First Independent Bank300 Front StreetRussell, MN 56169
Main Street - Ruthton BranchMain StreetRuthton, MN 56170
First Independent Bank Of Wood Lake Branch53 2nd AvenueWood Lake, MN 56297

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