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Overview / Commentary
5 East Minnesota Street
Glenwood, MN 56334

Glenwood State Bank (Incorporated) is headquartered in Glenwood and is the 59th largest bank in the state of Minnesota. It is also the 2,372nd largest bank in the nation. It was established in 1907 and as of December of 2017, it had grown to 49 employees at 3 locations. Glenwood State Bank (Incorporated) has a B health rating.

Reviews (1)

Excellent hometown bank

Posted by: Krauerra | Dec 4, 2017

I have banked with Glenwood State Bank for my entire life. My parents opened a savings account for me there when I was born and as I have grown, I have also opened my own checking account. Since then I have made changes to my accounts as I have gotten married and had children of my own. I also used Glenwood State Bank when making the down payment on my home. Every time I need something from them, I am able to call and get top quality customer service very rapidly. I appreciate that there are no fees on the checking and savings accounts. I buy the checks and that is it. They also do not charge any extra fees when using and ATM to get cash. I know large banks have fees associated with their checking accounts and also charge you if you don't use one of their ATMs. I think this is absurd and it is one of the main reasons I have stayed with Glenwood State Bank even though they don't have any location near where I live now. Their website and mobile app allow me to track my finances and perform all of the tasks I need on a daily basis. Overall, I have been very satisfied with my experience and plan to continue using them as my primary banking institution.


Health Grade Components

FDIC Certificate #8853
Year Established1907
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.87%
Return on Equity - YTD19.37%
Annual Interest Income$11.5MM
Assets and Liabilities
AssetsQ4 2017vs Q4 2016$272.9MM$254.7MM
LoansQ4 2017vs Q4 2016$254.1MM$232.6MM
DepositsQ4 2017vs Q4 2016$229.0MM$221.1MM
Equity CapitalQ4 2017vs Q4 2016$25.7MM$24.4MM
Loan Loss AllowanceQ4 2017vs Q4 2016$2.9MM$2.8MM
Unbacked Noncurrent LoansQ4 2017vs Q4 2016$4.6MM$3.7MM
Real Estate OwnedQ4 2017vs Q4 2016$840.00K$1.4MM
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Glenwood State Bank (Incorporated) Savings Account Rates

0.80%-$2,750Christmas Club Savings
0.75%*$50k*-Variable IRA
OTHER TIERS: 0.60% Up to $50k
0.65%*$50k*-HSA Variable
OTHER TIERS: 0.35% Up to $5k | 0.45% $5k - $10k | 0.55% $10k - $25k | 0.60% $25k - $50k

Glenwood State Bank (Incorporated) Locations
Alexandria Branch2221 South BroadwayAlexandria, MN 56308
Glenwood State Bank (Incorporated)5 East Minnesota StreetGlenwood, MN 56334
Detached FacilityWashington and Central StreetsVillard, MN 56385

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