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Flagship Bank Minnesota


Overview / Commentary
www.flagshipbanks.com
952-473-1959
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's CD rates are 2X the national average, and it 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!

3

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.

1


Health
A

Data as of Q2 2022

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #8188
Year Established1875
Employees50
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
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Always verify rates and promotions with the bank or credit union. We are not Flagship Bank Minnesota; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Flagship Bank Minnesota Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$50*-Savings Account
OTHER TIERS: 0.20% → Up to $50
0.30%*$50*-Super Kids Savings
OTHER TIERS: 0.20% → Up to $50
0.25%$1-HSA Account

Flagship Bank Minnesota Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.65%*$500k*-Money Market Account
OTHER TIERS: 0.20% → Up to $1k | 0.30% → $1k - $10k | 0.40% → $10k - $50k | 0.45% → $50k - $100k | 0.60% → $100k - $500k

Flagship Bank Minnesota Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*$5k*-Non-Profit Business Checking
OTHER TIERS: 0.02% → Up to $5k
0.10%*$5k*-Regatta Checking
OTHER TIERS: 0.02% → Up to $5k
0.10%*$5k*-Admiral Business Checking
OTHER TIERS: 0.02% → Up to $5k
0.10%*$1k*-Senior Checking
OTHER TIERS: 0.02% → Up to $1k
0.05%*$1k*-Interest Checking
OTHER TIERS: 0.02% → Up to $1k

Flagship Bank Minnesota CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*$10k*-12 Month CD
OTHER TIERS: 1.25% → $500 - $10k
2.00%*$10k*-24 Month CD
OTHER TIERS: 1.45% → $500 - $10k
2.00%*$10k*-36 Month CD
OTHER TIERS: 1.50% → $500 - $10k
2.00%$500-39 Month Bump-Up CD Special
1.75%$500-60 Month CD
1.60%$500-48 Month CD
1.35%$500-18 Month CD
0.55%$500-6 Month CD
0.20%$500-3 Month CD

Flagship Bank Minnesota IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*$10k*-12 Month IRA
OTHER TIERS: 1.25% → $500 - $10k
2.00%*$10k*-24 Month IRA
OTHER TIERS: 1.45% → $500 - $10k
2.00%*$10k*-36 Month IRA
OTHER TIERS: 1.50% → $500 - $10k
2.00%$500-39 Month Bump-Up CD Special
1.75%$500-60 Month IRA
1.60%$500-48 Month IRA
1.35%$500-18 Month IRA
0.55%$500-6 Month IRA
0.20%$500-3 Month IRA
Locations


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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