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Heritage Bank (MN)


Overview / Commentary
heritagebankmn.com
507-527-2236
181 Main Street
West Concord, MN 55985

Heritage Bank (MN) is headquartered in West Concord and is the 223rd largest bank in the state of Minnesota. It is also the 4,635th largest bank in the nation. It was established in 1930 and as of December of 2019, it had grown to 19 employees at 2 locations. Heritage Bank (MN) has a B health rating.

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Health
B

Data as of Q4 2019

Learn why bank health matters
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 Established1930
Employees19
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.46%
Return on Equity - YTD4.46%
Annual Interest Income$2.4MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$57.3MM$53.5MM
LoansQ4 2019vs Q4 2018$43.7MM$41.1MM
DepositsQ4 2019vs Q4 2018$47.6MM$48.1MM
Equity CapitalQ4 2019vs Q4 2018$5.6MM$5.4MM
Loan Loss AllowanceQ4 2019vs Q4 2018$594.00K$608.00K
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$190.00K$17.00K
Real Estate OwnedQ4 2019vs Q4 2018$80.00K$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.

Heritage Bank (MN) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%--Interest Checking
0.05%--Premium Checking
0.05%--Business Interest Checking

Heritage Bank (MN) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.26%$250-60 Month Fixed CD
1.26%$250-Business 60 Month Fixed CD
1.00%$250-48 Month Fixed CD
1.00%$250-Business 48 Month Fixed CD
0.75%$250-36 Month Fixed CD
0.75%$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

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.26%$250-60 Month Fixed IRA
1.26%$250-Business 60 Month Fixed IRA
1.00%$250-48 Month Fixed IRA
1.00%$250-Business 48 Month Fixed IRA
0.75%$250-36 Month Fixed IRA
0.75%$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 Concord181 Main StreetWest Concord, MN 55985
Dennison Branch37470 First Ave. CourtDennison, MN 55018
Northfield Branch1520 Clinton LaneNorthfield, MN 55057

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