Minnesota First


Overview / Commentary
507-289-0411
1932 Viking Drive Northwest
Rochester, MN 55901

Minnesota First is headquartered in ROCHESTER and is the 252nd largest bank in the state of Minnesota. It is also the 4,548th largest bank in the nation. It was established in 1956 and as of September of 2023, it had grown to 8 employees at 4 locations. Minnesota First has a B health rating.

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Health
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. Minnesota First has a low asset base.

Health Grade Components

Overall
FDIC Certificate #26755
Year Established1956
Employees8
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.24%
Return on Equity - YTD1.38%
Annual Interest Income$1.3MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$24.4MM$24.6MM
LoansQ3 2023vs Q3 2022$21.9MM$22.4MM
DepositsQ3 2023vs Q3 2022$19.2MM$19.7MM
Equity CapitalQ3 2023vs Q3 2022$4.2MM$4.2MM
Loan Loss AllowanceQ3 2023vs Q3 2022$399K$399K
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$85K$152K
Real Estate OwnedQ3 2023vs Q3 2022$0$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.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Minnesota First Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.80%*$25k*-Little Savers
OTHER TIERS: 0.40% $20 - $1k | 0.55% $1k - $2.5k | 0.65% $2.5k - $25k
0.50%*$25k*-Regular Savings
OTHER TIERS: 0.15% $200 - $1k | 0.20% $1k - $2.5k | 0.35% $2.5k - $25k

Minnesota First CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.10%$500$50k60 Month CD
1.00%$500$50k48 Month CD
0.90%$500$50k36 Month CD
0.85%$5k-22 Month CD Special
0.75%$500$50k24 Month CD
0.75%$5k-17 Month CD Special
0.65%$5k$50k13 Month CD Special
0.60%$500$50k18 Month CD
0.50%$500$50k12 Month CD
0.30%$500$50k6 Month CD
0.25%$500$50k3 Month CD
Locations


Minnesota First Locations
Owatonna Branch111 North CedarOwatonna, MN 55060
Red Wing144 Tyler Road NorthRed Wing, MN 55066
Winona Branch1858 North Service DriveWinona, MN 55987
Minnesota First Credit and Savings, Incorporated1932 Viking Dr NwRochester, MN 55901

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