Heritage Bank (MN)

Overview / Commentary
181 Main Street
West Concord, MN 55985

Heritage Bank (MN) is headquartered in West Concord and is the 224th largest bank in the state of Minnesota. It is also the 4,723rd largest bank in the nation. It was established in 1930 and as of September of 2019, it had grown to 15 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 - YTD0.64%
Return on Equity - YTD6.18%
Annual Interest Income$1.8MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$55.7MM$51.0MM
LoansQ3 2019vs Q3 2018$43.3MM$39.0MM
DepositsQ3 2019vs Q3 2018$45.9MM$45.6MM
Equity CapitalQ3 2019vs Q3 2018$5.7MM$5.3MM
Loan Loss AllowanceQ3 2019vs Q3 2018$583.00K$598.00K
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$185.00K$19.00K
Real Estate OwnedQ3 2019vs Q3 2018$80.00K$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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