Premier Bank (MN) is headquartered in Maplewood and is the 14th largest bank in the state of Minnesota. It is also the 1,072nd largest bank in the nation. It was established in 1974 and as of September of 2016, it had grown to 83 employees at 8 locations. Premier Bank (MN) has a B+ health rating.
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 And yes, they do have good customer service, but Premier Banks is a very outdated institution that is slow to change.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)
|FDIC Certificate #||21714|
|Return on Assets - YTD||1.11%|
|Return on Equity - YTD||11.04%|
|Annual Interest Income||$18.6MM|
|Assets and Liabilities|
|Assets||Q3 2016vs Q3 2015||$676.0MM$633.3MM|
|Loans||Q3 2016vs Q3 2015||$505.1MM$472.3MM|
|Deposits||Q3 2016vs Q3 2015||$603.3MM$562.2MM|
|Equity Capital||Q3 2016vs Q3 2015||$68.2MM$65.8MM|
|Loan Loss Allowance||Q3 2016vs Q3 2015||$6.7MM$6.2MM|
|Unbacked Noncurrent Loans||Q3 2016vs Q3 2015||$7.1MM$10.7MM|
|Real Estate Owned||Q3 2016vs Q3 2015||$15.6MM$21.8MM|
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