First Independent Bank (MN)

Overview / Commentary
300 Front Street
Russell, MN 56169

First Independent Bank (MN) is headquartered in Russell and is the 64th largest bank in the state of Minnesota. It is also the 2,262nd largest bank in the nation. It was established in 1903 and as of June of 2020, it had grown to 66 employees at 8 locations. First Independent Bank (MN) has a B+ health rating.


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Health Grade Components

FDIC Certificate #1900
Year Established1903
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.36%
Return on Equity - YTD11.46%
Annual Interest Income$6.4MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$319.6MM$283.5MM
LoansQ2 2020vs Q2 2019$206.9MM$202.2MM
DepositsQ2 2020vs Q2 2019$258.0MM$222.0MM
Equity CapitalQ2 2020vs Q2 2019$35.4MM$32.9MM
Loan Loss AllowanceQ2 2020vs Q2 2019$3.9MM$3.7MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$6.6MM$6.1MM
Real Estate OwnedQ2 2020vs Q2 2019$259.00K$527.00K
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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

0.60%$500-48 Month CD
0.50%$500-30 Month CD
0.45%$500-18 Month CD
0.40%$500-12 Month CD
0.30%$2.5k-6 Month CD
0.25%$2.5k-3 Month CD

First Independent Bank (MN) IRA Rates

1.26%$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
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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