Luminate Bank


Overview / Commentary
952-939-7200
5900 Green Oak Drive
Minnetonka, MN 55343

Luminate Bank is headquartered in MINNETONKA and is the 103rd largest bank in the state of Minnesota. It is also the 2,861st largest bank in the nation. It was established in 1937 and as of September of 2023, it had grown to 718 employees at 2 locations. Luminate Bank's savings rates are 10X the national average, and it boasts an A+ health rating.

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Health
A+

Health Grade Components

Overall
FDIC Certificate #16635
Year Established1937
Employees718
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD4.01%
Return on Equity - YTD30.28%
Annual Interest Income$10.4MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$223.7MM$150.5MM
LoansQ3 2023vs Q3 2022$175.9MM$117.9MM
DepositsQ3 2023vs Q3 2022$156.1MM$113.5MM
Equity CapitalQ3 2023vs Q3 2022$30.7MM$26.5MM
Loan Loss AllowanceQ3 2023vs Q3 2022$3MM$1.9MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$1.1MM$601K
Real Estate OwnedQ3 2023vs Q3 2022$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Luminate Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Luminate Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.00%--Luminate Radiant Savings - New Money
3.04%--Luminate Brighter Savings
3.04%--Luminate Business Brighter Savings
0.50%--Youth Savings

Luminate Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.78%*$1m*-Premier Money Market Savings - New Money
OTHER TIERS: 1.76% Up to $10k | 2.02% $10k - $250k | 2.53% $250k - $1m

Luminate Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.02%--Luminate Brighter Checking
2.02%--Luminate Business Brighter Checking

Luminate Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.75%$500-12 Month Certificate
4.00%$500-18 Month Certificate
3.55%$10k-25 Month Certificate
2.52%$500-6 Month Certificate
Locations


Luminate Bank Locations
Claremont Branch208 Front StreetClaremont, MN 55924
Equity Bank5900 Green Oak DrMinnetonka, MN 55343

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