Flagship Bank Minnesota

Overview / Commentary
1415 Wayzata Boulevard East
Wayzata, MN 55391-1938

Flagship Bank Minnesota is headquartered in Wayzata and is the 73rd largest bank in the state of Minnesota. It is also the 2,318th largest bank in the nation. It was established in 1875 and as of June of 2022, it had grown to 50 employees at 6 locations. Flagship Bank Minnesota has an A health rating.

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Reviews (2)

Awesome Bank

Posted by: |

Flagship Bank is a very solid bank that offers Great Customer Service and does not try to put you into services you do not want.
My previous bank (Lake Area Bank) changed up their offerings and you had to take all of their services. Plus they started charging fees for just about everything even though I maintained a 20K plus balance.
Flagship Bank pays much better interest rates as well as having the Best Customer Service I have ever experienced. I highly recommend Flagship Bank!

Exemplifies Vestigiality

Posted by: |

I had problems with this bank from the start, including:

-No remote deposit.
-Refusal of funds from 3rd party merchant systems including Venmo, PayPal, and Intuit.
-Money transfer delays.

I literally had significant difficulty in getting Flagship Bank to accept my funds. I operated primarily out of my 3rd party merchant accounts during my time with Flagship.

Flagship did everything in their power to prevent liquidity...which was literally the only service that I'd hired them for.

I recently fired them for their continued recalcitrance, poor customer service, employees with a poor knowledge based and high turnover, and contemptuous attitude from the banker on staff. Imagine having such an attitude when your greatest skill is being able to operate a calculator. Pitiful.


Health Grade Components

FDIC Certificate #8188
Year Established1875
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.87%
Return on Equity - YTD9.43%
Annual Interest Income$5.5MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$330.4MM$327.6MM
LoansQ2 2022vs Q2 2021$239.4MM$231.5MM
DepositsQ2 2022vs Q2 2021$299.3MM$298.8MM
Equity CapitalQ2 2022vs Q2 2021$30.6MM$28.3MM
Loan Loss AllowanceQ2 2022vs Q2 2021$2.4MM$2.1MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$31.00K$40.00K
Real Estate OwnedQ2 2022vs Q2 2021$0$120.00K

Rates for Flagship Bank Minnesota are currently being reviewed.


Flagship Bank Minnesota Locations
Flagship Bank Minnesota1415 Wayzata BlvdWayzata, MN 55391
Eden Prairie Branch7525 Office Ridge CircleEden Prairie, MN 55344
Ramsey Minnesota Branch14150 St. Francis BoulevardRamsey, MN 55303
Isanti Br711 6th Ave NeIsanti, MN 55040
Vadnais Heights Branch1048 Meadowlands DriveWhite Bear Lake, MN 55127
Minnetonka Branch3330 County Road 101 SWayzata, MN 55391

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