State Bank of Danvers

Overview / Commentary
2010 Minnesota Ave
Benson, MN 56215

State Bank of Danvers is headquartered in BENSON and is the 211th largest bank in the state of Minnesota. It is also the 4,197th largest bank in the nation. It was established in 1902 and as of September of 2023, it had grown to 6 employees at 1 location. State Bank of Danvers' CD rates are 4X 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 - YTD0.32%
Return on Equity - YTD3.73%
Annual Interest Income$356K
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$66.3MM$64.3MM
LoansQ3 2023vs Q3 2022$19MM$17.6MM
DepositsQ3 2023vs Q3 2022$57.5MM$60MM
Equity CapitalQ3 2023vs Q3 2022$8.6MM$3.6MM
Loan Loss AllowanceQ3 2023vs Q3 2022$10K$493K
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$11K$201K
Real Estate OwnedQ3 2023vs Q3 2022$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

3.03%$500-IRA Savings
1.76%*$25k*-Super Savings
OTHER TIERS: 1.26% $2.5k - $10k | 1.51% $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

1.26%*$25k*-Money Market Checking
OTHER TIERS: 1.00% $2.5k - $25k

State Bank of Danvers Checking Account Rates

1.10%*$25k*-NOW Account
OTHER TIERS: 0.95% $1.5k - $25k

State Bank of Danvers CD Rates

3.22%*$25k*-1 Year CD
OTHER TIERS: 3.02% $500 - $25k
3.17%$500-2 Years CD
3.12%$500-3 Year CD
3.07%$500-4 Year CD
3.02%*$25k*-182 Day CD
OTHER TIERS: 2.82% $2.5k - $25k
3.02%$500-5 Year CD
2.93%*$25k*-91 Day CD
OTHER TIERS: 2.73% $2.5k - $25k

State Bank of Danvers IRA Rates

3.22%*$25k*-1 Year IRA
OTHER TIERS: 3.02% $500 - $25k
3.17%$500-2 Years IRA
3.12%$500-3 Year IRA
3.02%*$25k*-182 Day IRA
OTHER TIERS: 2.82% $2.5k - $25k
3.02%$500-4 Year IRA
3.02%$500-5 Year IRA
2.93%*$25k*-91 Day IRA
OTHER TIERS: 2.73% $2.5k - $25k

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

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