First Independent Bank (MN)

Overview / Commentary
300 Front Street
Russell, MN 56169

First Independent Bank (MN) is headquartered in Russell and is the 47th largest bank in the state of Minnesota. It is also the 1,875th largest bank in the nation. It was established in 1903 and as of March of 2022, it had grown to 68 employees at 12 locations. First Independent Bank (MN) has an A health rating.


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Health Grade Components

FDIC Certificate #1900
Year Established1903
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.22%
Return on Equity - YTD13.79%
Annual Interest Income$3.5MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$452.8MM$364.3MM
LoansQ1 2022vs Q1 2021$227.3MM$211.1MM
DepositsQ1 2022vs Q1 2021$403.5MM$315.0MM
Equity CapitalQ1 2022vs Q1 2021$38.0MM$35.8MM
Loan Loss AllowanceQ1 2022vs Q1 2021$4.6MM$4.6MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$1.9MM$3.9MM
Real Estate OwnedQ1 2022vs Q1 2021$211.00K$1.7MM

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