Heritage Bank (MN)

Overview / Commentary
181 Main Street
West Concord, MN 55985

Heritage Bank (MN) is headquartered in West Concord and is the 227th largest bank in the state of Minnesota. It is also the 4,858th largest bank in the nation. It was established in 1930 and as of March of 2019, it had grown to 13 employees at 2 locations. Heritage Bank (MN) 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. Heritage Bank (MN) has a relatively low asset base.

Health Grade Components

FDIC Certificate #8865
Year Established1930
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.63%
Return on Equity - YTD6.07%
Annual Interest Income$576.00K
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$52.1MM$51.0MM
LoansQ1 2019vs Q1 2018$41.2MM$36.8MM
DepositsQ1 2019vs Q1 2018$46.6MM$45.7MM
Equity CapitalQ1 2019vs Q1 2018$5.5MM$5.3MM
Loan Loss AllowanceQ1 2019vs Q1 2018$608.00K$577.00K
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$57.00K$27.00K
Real Estate OwnedQ1 2019vs Q1 2018$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Heritage Bank (MN) Savings Account Rates

0.25%$250-Variable IRA
0.10%$100-Passbook Savings
0.10%--Youth Savings Account

Heritage Bank (MN) Money Market Rates

0.20%*$100k*-Money Market Savings
OTHER TIERS: 0.10% Up to $10k | 0.12% $10k - $25k | 0.15% $25k - $100k

Heritage Bank (MN) Checking Account Rates

0.05%--Interest Checking
0.05%--Premium Checking

Heritage Bank (MN) CD Rates

2.03%$250-36 Month Fixed CD
1.26%$250-60 Month Fixed CD
1.00%$250-48 Month Fixed CD
0.45%$250-30 Month Fixed CD
0.40%$250-24 Month Fixed CD
0.35%$250-18 Month Fixed CD
0.25%$250-12 Month Fixed CD
0.15%$250-3 Month Fixed CD
0.15%$250-6 Month Fixed CD

Heritage Bank (MN) IRA Rates

2.03%$250-36 Month Fixed IRA
1.26%$250-60 Month Fixed IRA
1.00%$250-48 Month Fixed IRA
0.45%$250-30 Month Fixed IRA
0.40%$250-24 Month Fixed IRA
0.35%$250-18 Month Fixed IRA
0.25%$250-12 Month Fixed IRA
0.15%$250-3 Month Fixed IRA
0.15%$250-6 Month Fixed IRA

Heritage Bank (MN) Locations
Farmers State Bank Of West Concord181 Main StreetWest Concord, MN 55985
Dennison Branch37470 First Ave. CourtDennison, MN 55018

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