Heritage Bank (MN)

Overview / Commentary
181 Main Street
West Concord, MN 55985

Heritage Bank (MN) is headquartered in West Concord and is the 207th largest bank in the state of Minnesota. It is also the 4,190th largest bank in the nation. It was established in 1930 and as of June of 2022, it had grown to 16 employees at 3 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 - YTD1.65%
Return on Equity - YTD22.05%
Annual Interest Income$1.3MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$80.4MM$74.0MM
LoansQ2 2022vs Q2 2021$55.2MM$50.3MM
DepositsQ2 2022vs Q2 2021$75.1MM$64.5MM
Equity CapitalQ2 2022vs Q2 2021$5.3MM$6.1MM
Loan Loss AllowanceQ2 2022vs Q2 2021$572.00K$567.00K
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$76.00K$34.00K
Real Estate OwnedQ2 2022vs Q2 2021$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
0.10%$100-Business Passbook Savings

Heritage Bank (MN) Money Market Rates

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

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

Heritage Bank (MN) CD Rates

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

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

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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