State Bank of Faribault

Overview / Commentary
428 Central Avenue
Faribault, MN 55021

State Bank of Faribault is headquartered in FARIBAULT and is the 80th largest bank in the state of Minnesota. It is also the 2,490th largest bank in the nation. It was established in 1919 and as of September of 2023, it had grown to 44 employees at 3 locations. State Bank of Faribault's savings rates are 92% higher than the national average, and it has a B+ health rating.


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Health Grade Components

FDIC Certificate #1610
Year Established1919
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.8%
Return on Equity - YTD18.68%
Annual Interest Income$9.1MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$294.1MM$284.3MM
LoansQ3 2023vs Q3 2022$151.5MM$150.1MM
DepositsQ3 2023vs Q3 2022$274.2MM$274.4MM
Equity CapitalQ3 2023vs Q3 2022$16.4MM$6.9MM
Loan Loss AllowanceQ3 2023vs Q3 2022$3MM$2.9MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$56K$116K
Real Estate OwnedQ3 2023vs Q3 2022$301K$548K
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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 Faribault Savings Account Rates

1.00%*$100k*-Select Savings
OTHER TIERS: 0.20% Up to $2.5k | 0.35% $2.5k - $25k | 0.40% $25k - $50k | 0.50% $50k - $100k
0.25%$100-Health Savings Account

State Bank of Faribault Checking Account Rates

0.60%*$100k*-Rewards Checking Plus
OTHER TIERS: 0.20% Up to $10k | 0.35% $10k - $25k | 0.40% $25k - $50k | 0.50% $50k - $100k
0.25%$750-Select Checking

State Bank of Faribault CD Rates

2.25%$1k-72 Month CD
2.00%$1k-60 Month CD
2.00%$2.5k-39 Month Change a Rate CD
1.75%$1k-48 Month CD
1.15%$1k-36 Month CD
1.00%$1k-24 Month CD
0.65%$1k-12 Month CD

State Bank of Faribault IRA Rates

2.25%$1k-72 Month IRA
2.00%$2.5k-39 Month Change a Rate IRA
2.00%$1k-60 Month IRA
1.75%$1k-48 Month IRA
1.15%$1k-36 Month IRA
1.00%$1k-24 Month IRA
0.65%$1k-12 Month IRA
0.35%$50-3 Month IRA Variable

State Bank of Faribault Locations
Faribault Branch202 Western AvenueFaribault, MN 55021
The State Bank Of Faribault428 Central Ave NFaribault, MN 55021
Prior Lake Branch6867 Boudin Street NePrior Lake, MN 55372

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