2. First Independent Bank (MN)

First Independent Bank (MN)


Overview / Commentary
www.fibmn.com
507-823-4391
300 Front Street
Russell, MN 56169

First Independent Bank (MN) is headquartered in Russell and is the 59th largest bank in the state of Minnesota. It is also the 2,296th largest bank in the nation. It was established in 1903 and as of June 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
B

Data as of Q2 2019

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Health Grade Components

Overall
FDIC Certificate #1900
Year Established1903
Employees65
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.45%
Return on Equity - YTD12.53%
Annual Interest Income$6.4MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$283.5MM$287.1MM
LoansQ2 2019vs Q2 2018$202.2MM$208.7MM
DepositsQ2 2019vs Q2 2018$222.0MM$220.1MM
Equity CapitalQ2 2019vs Q2 2018$32.9MM$30.6MM
Loan Loss AllowanceQ2 2019vs Q2 2018$3.7MM$3.8MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$6.1MM$4.1MM
Real Estate OwnedQ2 2019vs Q2 2018$527.00K$588.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*$10k*-Investment Checking
OTHER TIERS: 0.10% → $1.5k - $10k

First Independent Bank (MN) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.27%$1k-48 Month Variable IRA
Locations


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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