Heritage Bank

Overview / Commentary
110 W South St
Spicer, MN 56288

Heritage Bank is headquartered in Spicer and is the 34th largest bank in the state of Minnesota. It is also the 1,624th largest bank in the nation. It was established in 1964 and as of June of 2019, it had grown to 128 employees at 13 locations. Heritage Bank's savings rates are 3X the national average, and it has a B+ health rating.

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Reviews (2)

Two Months In

Posted by: m0nster2 | Aug 11, 2018

No problems opening account. Customer service was great when I had a password problem (my fault). I do have a small concern about security. When I was passed to a second person, she did not verify my identity. Great rate, easy requirements to get the rate. I hope that all the deposits they're getting helps with the health rating of the bank.

Working Well.

Posted by: alfloiz | Jun 11, 2018

Heritage bank is new to this style of account. Opening was a bit rough.
They needed a picture of my driver's license, which I sent, and they lost.
They also lost my opening deposit check so I requested a trial deposit from my ally bank account but they would not let me look at my Heritage account to check the deposit amounts until a deposit was completed! Catch 22.
Have them initiate a deposit from your existing checking account..
Customer service was friendly and it was all straightened out. So far, everything is good.


Health Grade Components

FDIC Certificate #19254
Year Established1964
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.67%
Return on Equity - YTD7.33%
Annual Interest Income$10.6MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$439.0MM$426.5MM
LoansQ2 2019vs Q2 2018$344.3MM$361.2MM
DepositsQ2 2019vs Q2 2018$381.8MM$366.0MM
Equity CapitalQ2 2019vs Q2 2018$40.8MM$38.5MM
Loan Loss AllowanceQ2 2019vs Q2 2018$4.4MM$4.6MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$7.6MM$10.3MM
Real Estate OwnedQ2 2019vs Q2 2018$485.00K$1.0MM
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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 Savings Account Rates

1.76%*$230k*-Jumbo Deposit Account
OTHER TIERS: 0.10% Up to $100k | 1.66% $100k - $230k
1.76%*$230k*-Business Jumbo Deposit Account
OTHER TIERS: 0.10% Up to $100k | 1.66% $100k - $230k
0.95%$1k-HeritageDirect Savings
0.95%$1k-Business HeritageDirect Savings
0.75%*$199k*-Flex Gold Savings
OTHER TIERS: 0.20% $1k - $50k | 0.25% $50k - $99k | 0.50% $99k - $199k
0.75%*$199k*-Business Flex Gold Savings
OTHER TIERS: 0.20% $1k - $50k | 0.25% $50k - $99k | 0.50% $99k - $199k
0.50%*$10k*-Health Savings Account
OTHER TIERS: 0.15% Up to $1k | 0.25% $1k - $2.5k | 0.30% $2.5k - $5k | 0.35% $5k - $10k
0.50%*$10k*-Business Health Savings Account
OTHER TIERS: 0.15% Up to $1k | 0.25% $1k - $2.5k | 0.30% $2.5k - $5k | 0.35% $5k - $10k
0.15%--Universal Savings
0.15%--Business Universal Savings

Heritage Bank Checking Account Rates

3.33%-$25keCentive Account
0.15%$1k-Legacy Checking

Heritage Bank CD Rates

2.47%*$25k*-60 Month Triple Option CD
OTHER TIERS: 2.27% $2k - $10k | 2.37% $10k - $25k
2.47%*$25k*-Business 60 Month Triple Option CD
OTHER TIERS: 2.27% $2k - $10k | 2.37% $10k - $25k
2.32%*$25k*-36 Month Triple Option CD
OTHER TIERS: 2.12% $2k - $10k | 2.22% $10k - $25k
2.32%*$25k*-Business 36 Month Triple Option CD
OTHER TIERS: 2.12% $2k - $10k | 2.22% $10k - $25k
2.07%*$25k*-48 Month Triple Option CD
OTHER TIERS: 1.87% $2k - $10k | 1.97% $10k - $25k
2.07%*$25k*-Business 48 Month Triple Option CD
OTHER TIERS: 1.87% $2k - $10k | 1.97% $10k - $25k
1.71%$2k-24 Month Triple Option CD
1.71%$2k-Business 24 Month Triple Option CD
1.22%$2k-12 Month Triple Option CD
1.22%$2k-Business 12 Month Triple Option CD
0.85%$2k-6 Month Triple Option CD
0.85%$2k-Business 6 Month Triple Option CD
0.28%$2k-3 Month Triple Option CD
0.28%$2k-Business 3 Month Triple Option CD


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