First State Bank Southwest


Overview / Commentary
507-825-0055
202 Second Street Southeast
Pipestone, MN 56164

First State Bank Southwest is headquartered in PIPESTONE and is the 62nd largest bank in the state of Minnesota. It is also the 2,113th largest bank in the nation. It was established in 1903 and as of September of 2023, it had grown to 49 employees at 6 locations. First State Bank Southwest has a B health rating.

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Health

Health Grade Components

Overall
FDIC Certificate #9770
Year Established1903
Employees49
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.63%
Return on Equity - YTD20%
Annual Interest Income$10.5MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$378.6MM$385.5MM
LoansQ3 2023vs Q3 2022$185.2MM$171.5MM
DepositsQ3 2023vs Q3 2022$329.7MM$325.2MM
Equity CapitalQ3 2023vs Q3 2022$7.9MM$6.5MM
Loan Loss AllowanceQ3 2023vs Q3 2022$2.5MM$2.5MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$0$0
Real Estate OwnedQ3 2023vs Q3 2022$0$0
Rates
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First State Bank Southwest Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%*-$15kLifestyle Checking
OTHER TIERS: 0.50% $15k+
Locations


First State Bank Southwest Locations
Rushmore Branch103 North Thompson AvenueRushmore, MN 56168
Worthington Branch1433 Oxford StreetWorthington, MN 56187
First State Bank Southwest202 2nd St SePipestone, MN 56164
Leota Branch11665 110th StEdgerton, MN 56128
Edgerton Branch760 Main StreetEdgerton, MN 56128
Sioux Falls Office Branch4400 East 57th StreetSioux Falls, SD 57103

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