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Premier Bank (MN)

Premier Bank (MN)


Overview / Commentary
www.premierbanks.com
651-777-7700
2866 White Bear Avenue
Maplewood, MN 55109

Premier Bank (MN) is headquartered in MAPLEWOOD and is the 18th largest bank in the state of Minnesota. It is also the 969th largest bank in the nation. It was established in 1974 and as of June of 2023, it had grown to 97 employees at 8 locations. Premier Bank (MN) has a B+ health rating.

Reviews (3)

Good Community Bank.

Posted by: |

Good bank that cares about it's customers--can't thank them enough for the help they gave me in '08/'09.

(Had my business accounts w/ PB for 10+ years, no longer a customer b/c I've retired and moved up to my cabin full-time)

1

Benefits of a small bank.

Posted by: |

I banked at Premier Bank Minnesota for many years when I was living in a small town in Minnesota. The benefits that I found banking at this small bank is first of all, the tellers and manager get to know you personally. You feel welcome going into the branch and not just a number. Secondly, the accounts such as savings and certificate of deposits will be a little more liberal in the interest rates than large banks. Finally, the loan process may be a little more personal as well since the decisions are generally made locally. The president may come by your property to do a site visit and do a personal appraisal himself. The negatives are the number of locations will be less. So if you need to go into a bank, you may not find one. Also, they may not be as up to date as the large banks on technology. Finally, small loans such as car loans will probably have a higher interest rate.

3

Sub-Par Bank..., That Is Religious?

Posted by: |

Overall, Premier Banks (yes plural, multiple charters) is kept alive by a loyal customer basis. And yes, they do have good customer service, but Premier Banks is a very outdated institution that is slow to change. Many of its employees have been employees since the bank opened and they are stuck in their ways (especially the chairman, who is now 80+ years old). Their goal is to be an "small old timey bank," which appeals to their older and more conservative customers. But this will help to alienate their younger customers who want an interactive mobile banking experience. I would expect and urge them to look elsewhere. In addition, this bank is run by individuals who are blatantly christian. And keep in mind that choosing this bank may mean you're putting your money in a bank that openly supports politically conservative viewpoints and charities.

(This is my perspective as a former employee)

5


Health
B+

Data as of Q2 2023

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #21714
Year Established1974
Employees97
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.63%
Return on Equity - YTD18.06%
Annual Interest Income$23.2MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$1.02B$1.03B
LoansQ2 2023vs Q2 2022$759.7MM$755.3MM
DepositsQ2 2023vs Q2 2022$874.2MM$925.7MM
Equity CapitalQ2 2023vs Q2 2022$90.9MM$84.4MM
Loan Loss AllowanceQ2 2023vs Q2 2022$11.1MM$9.5MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$1.1MM$4.6MM
Real Estate OwnedQ2 2023vs Q2 2022$667.00K$1.2MM
Rates

Sorry, we do not have rate data for Premier Bank (MN).

Locations

Availability



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