State Bank of Danvers

Overview / Commentary
2010 Minnesota Ave
Benson, MN 56215

State Bank of Danvers is headquartered in Benson and is the 219th largest bank in the state of Minnesota. It is also the 4,480th largest bank in the nation. It was established in 1902 and as of September of 2021, it had grown to 6 employees at 1 location. State Bank of Danvers has an A health rating.


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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. State Bank of Danvers has a relatively low asset base.

Health Grade Components

FDIC Certificate #1401
Year Established1902
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.13%
Return on Equity - YTD9.9%
Annual Interest Income$1.2MM
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$63.1MM$53.3MM
LoansQ3 2021vs Q3 2020$15.8MM$19.0MM
DepositsQ3 2021vs Q3 2020$55.0MM$44.9MM
Equity CapitalQ3 2021vs Q3 2020$7.0MM$7.1MM
Loan Loss AllowanceQ3 2021vs Q3 2020$493.00K$496.00K
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$0$5.00K
Real Estate OwnedQ3 2021vs Q3 2020$0$86.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

State Bank of Danvers Savings Account Rates

0.55%$500-IRA Savings
0.30%*$25k*-Super Savings
OTHER TIERS: 0.15% $2.5k - $10k | 0.20% $10k - $25k
0.25%*$25k*-Regular Savings
OTHER TIERS: 0.10% Up to $2.5k | 0.15% $2.5k - $25k

State Bank of Danvers Money Market Rates

0.25%*$25k*-Money Market Checking
OTHER TIERS: 0.15% $2.5k - $25k

State Bank of Danvers Checking Account Rates

0.15%*$25k*-NOW Account
OTHER TIERS: 0.05% $1.5k - $25k

State Bank of Danvers CD Rates

0.55%$500-5 Year CD
0.50%$500-4 Year CD
0.45%$500-3 Year CD
0.40%$500-2 Years CD
0.35%*$25k*-1 Year CD
OTHER TIERS: 0.25% $500 - $25k
0.25%*$25k*-182 Day CD
OTHER TIERS: 0.15% $2.5k - $25k
0.20%*$25k*-91 Day CD
OTHER TIERS: 0.10% $2.5k - $25k

State Bank of Danvers IRA Rates

0.55%$500-5 Year IRA
0.50%$500-4 Year IRA
0.45%$500-3 Year IRA
0.40%$500-2 Years IRA
0.35%*$25k*-1 Year IRA
OTHER TIERS: 0.25% $500 - $25k
0.25%*$25k*-182 Day IRA
OTHER TIERS: 0.15% $2.5k - $25k
0.20%*$25k*-91 Day IRA
OTHER TIERS: 0.10% $2.5k - $25k

State Bank of Danvers Locations
State Bank Of Danvers2010 Minnesota AveBenson, MN 56215

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