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Grand Rapids State Bank


Overview / Commentary
www.grsb.com
877-326-4772
523 Nw 1st Avenue
Grand Rapids, MN 55744

Grand Rapids State Bank is headquartered in Grand Rapids and is the 77th largest bank in the state of Minnesota. It is also the 2,652nd largest bank in the nation. It was established in 1914 and as of September of 2019, it had grown to 44 employees at 2 locations. Grand Rapids State Bank has an A health rating.

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Health
A

Data as of Q3 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #10962
Year Established1914
Employees44
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.05%
Return on Equity - YTD10.61%
Annual Interest Income$7.3MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$227.5MM$224.0MM
LoansQ3 2019vs Q3 2018$150.6MM$138.4MM
DepositsQ3 2019vs Q3 2018$180.4MM$181.0MM
Equity CapitalQ3 2019vs Q3 2018$23.0MM$21.1MM
Loan Loss AllowanceQ3 2019vs Q3 2018$1.2MM$1.0MM
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$360.00K$199.00K
Real Estate OwnedQ3 2019vs Q3 2018$423.00K$935.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.25%$500-Education Savings
0.35%*$800k*- Business Funds Management Savings
OTHER TIERS: 0.20% → $25k - $250k | 0.25% → $250k - $500k | 0.30% → $500k - $800k
0.10%$100-Regular Savings
0.08%--Christmas Club Savings

Grand Rapids State Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%*$1m*- Money Market Plus Savings
OTHER TIERS: 0.15% → $5k - $100k | 0.20% → $100k - $500k | 0.30% → $500k - $1m
0.15%$2.5k-Money Market Savings

Grand Rapids State Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$100k*- Business Interest Checking
OTHER TIERS: 0.10% → $2.5k - $25k | 0.15% → $25k - $50k | 0.20% → $50k - $100k
0.10%*$10k*-Interest Checking
OTHER TIERS: 0.05% → $500 - $10k
0.10%*$10k*-Grand Checking
OTHER TIERS: 0.05% → Up to $10k

Grand Rapids State Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.25%$1k-60 Month CD
1.00%$1k-48 Month CD
0.75%$1k-36 Month CD
0.55%$1k-30 Month CD
0.40%$1k-24 Month CD
0.30%$1k-18 Month CD
0.25%$1k-12 Month CD
0.05%$1k-6 Month CD
0.03%$1k-3 Month CD
Locations


Grand Rapids State Bank Locations
Pokegama Branch1 Golf Course RoadGrand Rapids, MN 55744
Grand Rapids State Bank523 NW 1st AvenueGrand Rapids, MN 55744

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