Heritage Bank (MN)

Overview / Commentary

507-527-2236

181 Main Street
West Concord, MN 55985

Heritage Bank (MN) is headquartered in West Concord and is the 204^th largest bank in the state of Minnesota. It is also the 4,304^th largest bank in the nation. It was established in 1930 and as of September of 2021, it had grown to 15 employees at 3 locations. Heritage Bank (MN) has an A health rating.

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Health

Data as of Q3 2021

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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

Overall
FDIC Certificate #	8865
Year Established	1930
Employees	15
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.99%
Return on Equity - YTD	12.05%
Annual Interest Income	$2.2MM

Assets and Liabilities
Assets	Q3 2021vs Q3 2020	$78.8MM$66.1MM
Loans	Q3 2021vs Q3 2020	$49.0MM$43.7MM
Deposits	Q3 2021vs Q3 2020	$69.1MM$56.4MM
Equity Capital	Q3 2021vs Q3 2020	$6.4MM$5.7MM
Loan Loss Allowance	Q3 2021vs Q3 2020	$568.00K$573.00K
Unbacked Noncurrent Loans	Q3 2021vs Q3 2020	$35.00K$240.00K
Real Estate Owned	Q3 2021vs Q3 2020	$0$0

Rates

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Savings
Money Market
Checking
CD
IRA

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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

APY	MIN	MAX	ACCOUNT NAME
0.25%	$250	-	Variable IRA
0.10%	$100	-	Passbook Savings
0.10%	-	-	Youth Savings Account
0.10%	$100	-	Business Passbook Savings

Heritage Bank (MN) Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.20%^*	$25k^*	-	Money Market Savings
OTHER TIERS: 0.10% → Up to $2.5k \| 0.12% → $2.5k - $10k \| 0.15% → $10k - $25k
0.20%^*	$25k^*	-	Business Money Market Savings
OTHER TIERS: 0.10% → Up to $2.5k \| 0.12% → $2.5k - $10k \| 0.15% → $10k - $25k

Heritage Bank (MN) Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.05%	-	-	Interest Checking
0.05%	-	-	Premium Checking
0.05%	-	-	Business Interest Checking

Heritage Bank (MN) CD Rates

APY	MIN	MAX	ACCOUNT NAME
0.75%	$250	-	60 Month Fixed CD
0.75%	$250	-	Business 60 Month Fixed CD
0.65%	$250	-	48 Month Fixed CD
0.65%	$250	-	Business 48 Month Fixed CD
0.55%	$250	-	36 Month Fixed CD
0.55%	$250	-	Business 36 Month Fixed CD
0.45%	$250	-	30 Month Fixed CD
0.45%	$250	-	Business 30 Month Fixed CD
0.40%	$250	-	24 Month Fixed CD
0.40%	$250	-	Business 24 Month Fixed CD
0.35%	$250	-	18 Month Fixed CD
0.35%	$250	-	Business 18 Month Fixed CD
0.25%	$250	-	12 Month Fixed CD
0.25%	$250	-	Business 12 Month Fixed CD
0.15%	$250	-	3 Month Fixed CD
0.15%	$250	-	6 Month Fixed CD
0.15%	$250	-	Business 3 Month Fixed CD
0.15%	$250	-	Business 6 Month Fixed CD

Heritage Bank (MN) IRA Rates

APY	MIN	MAX	ACCOUNT NAME
0.75%	$250	-	60 Month Fixed IRA
0.75%	$250	-	Business 60 Month Fixed IRA
0.65%	$250	-	48 Month Fixed IRA
0.65%	$250	-	Business 48 Month Fixed IRA
0.55%	$250	-	36 Month Fixed IRA
0.55%	$250	-	Business 36 Month Fixed IRA
0.45%	$250	-	30 Month Fixed IRA
0.45%	$250	-	Business 30 Month Fixed IRA
0.40%	$250	-	24 Month Fixed IRA
0.40%	$250	-	Business 24 Month Fixed IRA
0.35%	$250	-	18 Month Fixed IRA
0.35%	$250	-	Business 18 Month Fixed IRA
0.25%	$250	-	12 Month Fixed IRA
0.25%	$250	-	Business 12 Month Fixed IRA
0.15%	$250	-	3 Month Fixed IRA
0.15%	$250	-	6 Month Fixed IRA
0.15%	$250	-	Business 3 Month Fixed IRA
0.15%	$250	-	Business 6 Month Fixed IRA

Locations

Heritage Bank (MN) Locations
Farmers State Bank Of West Concord	181 Main Street	West Concord, MN 55985
Dennison Branch	37470 First Ave. Court	Dennison, MN 55018
Northfield Branch	1520 Clinton Lane	Northfield, MN 55057

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