Overview / Commentary
110 W South St
Spicer, MN 56288

Heritage Bank is headquartered in Spicer and is the 33rd largest bank in the state of Minnesota. It is also the 1,609th largest bank in the nation. It was established in 1964 and as of December of 2018, it had grown to 128 employees at 13 locations. Heritage Bank's savings rates are 3X the national average, and it has a C+ health rating.

Related Posts

Heritage Bank Triple Option Cds - Interesting Features - 4/19/2018

The bank, which offers a 3.3% APY E-incentive account, also offers a Triple-Option CD with the following features - as per a conversation with a helpful CSR. The "read more" link on the bank's website was not working correctly. (1) unlimited rate bumps anytime. Note that a rate bump EXTENDS the term of the CD. (2) unlimited add-on capabilty capped at 100% of the original deposit (3) penalty free withdrawal in case of a medical emergency.

Heritage Bank's Nationally Available eCentive Account Rate Soars - 4/19/2018

Heritage Bank has more than doubled the rate on its nationally available rewards checking account, eCentive Account, to 3.33% APY on qualifying balances up to $25k.

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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 - YTD0.37%
Return on Equity - YTD4.06%
Annual Interest Income$20.3MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$434.8MM$412.1MM
LoansQ4 2018vs Q4 2017$339.2MM$347.3MM
DepositsQ4 2018vs Q4 2017$380.5MM$346.7MM
Equity CapitalQ4 2018vs Q4 2017$37.8MM$39.3MM
Loan Loss AllowanceQ4 2018vs Q4 2017$4.7MM$5.0MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$9.4MM$2.9MM
Real Estate OwnedQ4 2018vs Q4 2017$2.7MM$2.3MM
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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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