Grove Bank


Overview / Commentary
320-857-2521
110 Atlantic Avenue West
Grove City, MN 56243-0008

Grove Bank is headquartered in Grove City and is the 241st largest bank in the state of Minnesota. It is also the 4,660th largest bank in the nation. It was established in 1907 and as of December of 2021, it had grown to 7 employees at 1 location. Grove Bank has a B+ health rating.

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Health
B+
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. Grove Bank has a low asset base.

Health Grade Components

Overall
FDIC Certificate #8857
Year Established1907
Employees7
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.68%
Return on Equity - YTD4.7%
Annual Interest Income$1.5MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$40.5MM$36.0MM
LoansQ4 2021vs Q4 2020$27.1MM$23.6MM
DepositsQ4 2021vs Q4 2020$28.8MM$25.9MM
Equity CapitalQ4 2021vs Q4 2020$5.8MM$5.5MM
Loan Loss AllowanceQ4 2021vs Q4 2020$79.00K$55.00K
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$46.00K$25.00K
Real Estate OwnedQ4 2021vs Q4 2020$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Grove Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%--Regular Savings

Grove Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%*$100k*-Money Market Savings
OTHER TIERS: 0.10% $2.5k - $25k | 0.20% $25k - $50k | 0.30% $50k - $100k

Grove Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%--Super NOW Account
0.10%--NOW Account

Grove Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%$1k-60 Month CD
1.00%$1k-72 Month CD
0.90%$1k-48 Month CD
0.80%$1k-36 Month CD
0.70%$1k-24 Month CD
0.50%$1k-12 Month CD
0.40%$1k-182 Day CD

Grove Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%$1k-60 Month IRA
1.00%$1k-72 Month IRA
0.90%$1k-48 Month IRA
0.80%$1k-36 Month IRA
0.70%$1k-24 Month IRA
0.50%$1k-12 Month IRA
0.40%$1k-182 Day IRA
Locations


Grove Bank Locations
First State Bank Of Grove City110 Atlantic Ave WGrove City, MN 56243

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