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Overview / Commentary
22 Central Avenue
Richmond, MN 56368

State Bank of Richmond is headquartered in Richmond and is the 175th largest bank in the state of Minnesota. It is also the 4,396th largest bank in the nation. It was established in 1904 and as of December of 2017, it had grown to 16 employees at 1 location. State Bank of Richmond 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 Richmond has a relatively low asset base.

Health Grade Components

FDIC Certificate #8542
Year Established1904
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.29%
Return on Equity - YTD11.79%
Annual Interest Income$3.4MM
Assets and Liabilities
AssetsQ4 2017vs Q4 2016$92.6MM$93.5MM
LoansQ4 2017vs Q4 2016$61.1MM$68.3MM
DepositsQ4 2017vs Q4 2016$81.8MM$83.1MM
Equity CapitalQ4 2017vs Q4 2016$10.3MM$9.7MM
Loan Loss AllowanceQ4 2017vs Q4 2016$920.00K$670.00K
Unbacked Noncurrent LoansQ4 2017vs Q4 2016$0$0
Real Estate OwnedQ4 2017vs Q4 2016$0$91.00K
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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 Richmond Savings Account Rates

0.90%*$10k*-IRA Savings Account
OTHER TIERS: 0.75% $100 - $10k
0.15%*$1k*-Passbook Savings Account
OTHER TIERS: 0.10% $25 - $1k
0.15%*$1k*-Statement Savings Account
OTHER TIERS: 0.10% $25 - $1k

State Bank of Richmond Money Market Rates

0.45%*$75k*-Money Market Account
OTHER TIERS: 0.15% $1k - $10k | 0.20% $10k - $25k | 0.30% $25k - $50k | 0.40% $50k - $75k

State Bank of Richmond Checking Account Rates

0.15%$800-Super Now Account

State Bank of Richmond CD Rates

0.90%$5k-48 Month CD
0.80%*$5k*-30 Month CD
OTHER TIERS: 0.75% $500 - $5k
0.75%*$5k*-24 Month CD
OTHER TIERS: 0.60% $500 - $5k
0.60%*$5k*-18 Month CD
OTHER TIERS: 0.45% $500 - $5k
0.55%*$5k*-12 Month CD
OTHER TIERS: 0.45% $500 - $5k
0.35%*$5k*-182 Day CD
OTHER TIERS: 0.25% $2,500 - $5k
0.25%*$5k*-91 Day CD
OTHER TIERS: 0.15% $2,500 - $5k

State Bank of Richmond Locations
State Bank Of Richmond22 Central AvenueRichmond, MN 56368

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