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 2,176th largest bank in the nation. It was established in 1903 and as of September of 2021, it had grown to 60 employees at 8 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 - YTD2.32%
Return on Equity - YTD22.44%
Annual Interest Income$11.2MM
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$371.6MM$328.7MM
LoansQ3 2021vs Q3 2020$206.9MM$206.7MM
DepositsQ3 2021vs Q3 2020$319.2MM$266.9MM
Equity CapitalQ3 2021vs Q3 2020$39.6MM$36.1MM
Loan Loss AllowanceQ3 2021vs Q3 2020$4.6MM$4.4MM
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$1.7MM$5.7MM
Real Estate OwnedQ3 2021vs Q3 2020$1.7MM$259.00K
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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

0.20%*$5k*-Investment Savings
OTHER TIERS: 0.10% Up to $5k
0.10%--Statement Savings

First Independent Bank (MN) Checking Account Rates

0.05%--Investment Checking

First Independent Bank (MN) CD Rates

0.50%$500-48 Month CD
0.40%$500-30 Month CD
0.35%$500-18 Month CD
0.30%$500-12 Month CD
0.20%$2.5k-6 Month CD
0.15%$2.5k-3 Month CD


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