Grove Bank

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

Grove Bank is headquartered in Grove City and is the 237th largest bank in the state of Minnesota. It is also the 4,531st largest bank in the nation. It was established in 1907 and as of June of 2022, it had grown to 6 employees at 1 location. Grove Bank has a B+ health rating.


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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

FDIC Certificate #8857
Year Established1907
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.16%
Return on Equity - YTD1.21%
Annual Interest Income$711.00K
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$48.0MM$40.5MM
LoansQ2 2022vs Q2 2021$27.4MM$26.9MM
DepositsQ2 2022vs Q2 2021$36.4MM$28.7MM
Equity CapitalQ2 2022vs Q2 2021$5.8MM$5.7MM
Loan Loss AllowanceQ2 2022vs Q2 2021$91.00K$67.00K
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$130.00K$4.00K
Real Estate OwnedQ2 2022vs Q2 2021$0$0

Rates for Grove Bank are currently being reviewed.


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

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