State Bank of Danvers

Overview / Commentary
2010 Minnesota Ave
Benson, MN 56215

State Bank of Danvers is headquartered in Benson and is the 216th largest bank in the state of Minnesota. It is also the 4,308th largest bank in the nation. It was established in 1902 and as of June of 2022, it had grown to 6 employees at 1 location. State Bank of Danvers' money market rates are 3X the national average, and it has a B+ 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 - YTD0.73%
Return on Equity - YTD8.56%
Annual Interest Income$677.00K
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$68.9MM$62.6MM
LoansQ2 2022vs Q2 2021$16.2MM$15.9MM
DepositsQ2 2022vs Q2 2021$63.6MM$54.3MM
Equity CapitalQ2 2022vs Q2 2021$4.6MM$7.1MM
Loan Loss AllowanceQ2 2022vs Q2 2021$493.00K$493.00K
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$11.00K$0
Real Estate OwnedQ2 2022vs Q2 2021$0$0
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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

2.02%$500-IRA Savings
1.16%*$25k*-Super Savings
OTHER TIERS: 0.95% $2.5k - $10k | 1.06% $10k - $25k
1.10%*$25k*-Regular Savings
OTHER TIERS: 0.90% Up to $2.5k | 0.95% $2.5k - $25k

State Bank of Danvers Money Market Rates

1.11%*$25k*-Money Market Checking
OTHER TIERS: 0.95% $2.5k - $25k

State Bank of Danvers Checking Account Rates

0.95%*$25k*-NOW Account
OTHER TIERS: 0.85% $1.5k - $25k

State Bank of Danvers CD Rates

2.01%$500-5 Year CD
1.96%$500-4 Year CD
1.81%$500-3 Year CD
1.76%$500-2 Years CD
1.61%*$25k*-1 Year CD
OTHER TIERS: 1.51% $500 - $25k
1.51%*$25k*-182 Day CD
OTHER TIERS: 1.40% $2.5k - $25k
1.46%*$25k*-91 Day CD
OTHER TIERS: 1.36% $2.5k - $25k

State Bank of Danvers IRA Rates

2.01%$500-5 Year IRA
1.96%$500-4 Year IRA
1.81%$500-3 Year IRA
1.76%$500-2 Years IRA
1.61%*$25k*-1 Year IRA
OTHER TIERS: 1.51% $500 - $25k
1.51%*$25k*-182 Day IRA
OTHER TIERS: 1.40% $2.5k - $25k
1.46%*$25k*-91 Day IRA
OTHER TIERS: 1.36% $2.5k - $25k

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

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