Grand Rapids State Bank

Overview / Commentary

218-326-9414

523 Nw 1st Avenue
Grand Rapids, MN 55744

Grand Rapids State Bank is headquartered in Grand Rapids and is the 73^rd largest bank in the state of Minnesota. It is also the 2,478^th largest bank in the nation. It was established in 1914 and as of June of 2020, it had grown to 45 employees at 2 locations. Grand Rapids State Bank has an A health rating.

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Health

Data as of Q2 2020

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Health Grade Components

Overall
FDIC Certificate #	10962
Year Established	1914
Employees	45
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	1.78%
Return on Equity - YTD	17.98%
Annual Interest Income	$5.6MM

Assets and Liabilities
Assets	Q2 2020vs Q2 2019	$278.9MM$234.7MM
Loans	Q2 2020vs Q2 2019	$167.8MM$154.9MM
Deposits	Q2 2020vs Q2 2019	$204.4MM$183.0MM
Equity Capital	Q2 2020vs Q2 2019	$25.4MM$22.7MM
Loan Loss Allowance	Q2 2020vs Q2 2019	$1.1MM$1.1MM
Unbacked Noncurrent Loans	Q2 2020vs Q2 2019	$0$553.00K
Real Estate Owned	Q2 2020vs Q2 2019	$200.00K$644.00K

Rates

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Savings
Money Market
Checking
CD

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

Grand Rapids State Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
1.00%	$500	-	Education Savings
0.17%	$25k	-	Business Funds Management Savings
0.03%	$100	-	Regular Savings
0.03%	-	-	Christmas Club Savings

Grand Rapids State Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.20%^*	$1m^*	-	Money Market Plus Savings
OTHER TIERS: 0.08% → $5k - $100k \| 0.12% → $100k - $500k \| 0.17% → $500k - $1m
0.08%	$2.5k	-	Money Market Savings

Grand Rapids State Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.10%^*	$100k^*	-	Business Interest Checking
OTHER TIERS: 0.03% → $2.5k - $50k \| 0.05% → $50k - $100k
0.05%^*	$10k^*	-	Interest Checking
OTHER TIERS: 0.03% → $500 - $10k
0.05%^*	$10k^*	-	Grand Checking
OTHER TIERS: 0.03% → Up to $10k

Grand Rapids State Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
1.00%	$1k	-	60 Month CD
0.85%	$1k	-	48 Month CD
0.60%	$1k	-	36 Month CD
0.45%	$1k	-	30 Month CD
0.35%	$1k	-	24 Month CD
0.25%	$1k	-	18 Month CD
0.20%	$1k	-	12 Month CD
0.03%	$1k	-	3 Month CD
0.03%	$1k	-	6 Month CD

Locations

Grand Rapids State Bank Locations
Pokegama Branch	1 Golf Course Road	Grand Rapids, MN 55744
Grand Rapids State Bank	523 NW 1st Avenue	Grand Rapids, MN 55744

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