Frandsen Bank & Trust

Frandsen Bank & Trust

Overview / Commentary
116 Central Street West
Lonsdale, MN 55046

Frandsen Bank & Trust is headquartered in LONSDALE and is the 4th largest bank in the state of Minnesota. It is also the 358th largest bank in the nation. It was established in 1901 and as of December of 2023, it had grown to 455 employees at 42 locations. Frandsen Bank & Trust has an A health rating.

Reviews (3)

Great Bank

Frandsen Bank is a smaller community bank that has always been there for me. The long lasting staff knows you by name, and they greet you like a friend when you walk in. They have a very large offering of services and can meet most peoples business needs. The bank has also kept up with technology allowing you the convenience offered by large banks, but the satisfaction of using a small bank. The employees are in the community so you can very much relate to them as they are volunteering and helping your friends and neighbors. The bank also supports many local events as well, so you see your money reinvested into the community. It is a great bank, and it is nice to support the smaller local institution.

Great small town bank

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I have held an account with this bank for over 4 years now. During that time, I have discovered that they offer great, personable customer service. This bank services primarily smaller towns, so you know you will get a small town, friendly feel when talking to any of the employees. Last fall, my debit card was hijacked by an identity thief. They cancelled my card, despite it being after hours, and got me a new one within a week. The online and mobile sites are nothing to get excited about. However, they seem to effectively report your balances and purchases. The sites don't offer some features you might find at larger banks, but again, they get the job done. Furthermore, this bank just isn't as good as some larger banks in terms of rates and programs. However, if you are willing to accept that, you will be rewarded with excellent customer service from a safe, friendly bank.

Experience with Frandsen Bank Online

My wife and I have banked with Frandsen Bank for many years now and have made use of their online deposit accounts. As of the moment, we only make use of a checking account. This is because we had moved all of our money out of our prior savings account and kept the balance at $0 for long enough for them to shut it down. We have been meaning to re-open a savings account, but we rarely go to the actual bank, making use of the online services 90+% of the time. We haven't had many troubles using the online banking, as our needs are limited. We enjoyed our ability to transfer to and from deposit accounts in the past, and especially for paying off our mortgage. Overall, Frandsen Bank provides a limited but adequate online service and we are satisfied with controlling our deposit accounts online.


Health Grade Components

FDIC Certificate #1399
Year Established1901
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.24%
Return on Equity - YTD15.1%
Annual Interest Income$141.6MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$3.45B$3.16B
LoansQ4 2023vs Q4 2022$2.35B$2.06B
DepositsQ4 2023vs Q4 2022$2.87B$2.79B
Equity CapitalQ4 2023vs Q4 2022$291MM$262.2MM
Loan Loss AllowanceQ4 2023vs Q4 2022$27.8MM$24.6MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$3.7MM$3.2MM
Real Estate OwnedQ4 2023vs Q4 2022$407K$84K

Sorry, we do not have rate data for Frandsen Bank & Trust.



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