Overview / Commentary
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.
Health
A
Data as of Q1 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 1900 |
| Year Established | 1903 |
| Employees | 68 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.22% |
| Return on Equity - YTD | 13.79% |
| Annual Interest Income | $3.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2022vs Q1 2021 | $452.8MM$364.3MM |
| Loans | Q1 2022vs Q1 2021 | $227.3MM$211.1MM |
| Deposits | Q1 2022vs Q1 2021 | $403.5MM$315.0MM |
| Equity Capital | Q1 2022vs Q1 2021 | $38.0MM$35.8MM |
| Loan Loss Allowance | Q1 2022vs Q1 2021 | $4.6MM$4.6MM |
| Unbacked Noncurrent Loans | Q1 2022vs Q1 2021 | $1.9MM$3.9MM |
| Real Estate Owned | Q1 2022vs Q1 2021 | $211.00K$1.7MM |
