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Overview / Commentary
320-597-2145
22 Central Avenue
Richmond, MN 56368

State Bank of Richmond is headquartered in Richmond and is the 173rd largest bank in the state of Minnesota. It is also the 4,359th largest bank in the nation. It was established in 1904 and as of March of 2018, it had grown to 16 employees at 1 location. State Bank of Richmond's money market rates are 25% higher than the national average, and it has a B+ health rating.

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Health
B+
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

Overall
FDIC Certificate #8542
Year Established1904
Employees16
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.85%
Return on Equity - YTD7.57%
Annual Interest Income$835.00K
Assets and Liabilities
AssetsQ1 2018vs Q1 2017$92.2MM$92.9MM
LoansQ1 2018vs Q1 2017$60.1MM$68.0MM
DepositsQ1 2018vs Q1 2017$81.3MM$82.5MM
Equity CapitalQ1 2018vs Q1 2017$10.4MM$9.8MM
Loan Loss AllowanceQ1 2018vs Q1 2017$935.00K$745.00K
Unbacked Noncurrent LoansQ1 2018vs Q1 2017$0$0
Real Estate OwnedQ1 2018vs Q1 2017$0$0
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%*$10k*-IRA Savings Account
OTHER TIERS: 0.75% $100 - $10k
0.20%*$1k*-Passbook Savings Account
OTHER TIERS: 0.15% $25 - $1k
0.20%*$1k*-Statement Savings Account
OTHER TIERS: 0.15% $25 - $1k

State Bank of Richmond Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.55%*$75k*-Money Market Account
OTHER TIERS: 0.20% $1k - $10k | 0.25% $10k - $25k | 0.35% $25k - $50k | 0.45% $50k - $75k

State Bank of Richmond Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%$800-Super Now Account

State Bank of Richmond CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.30%$5k-48 Month CD
0.90%*$5k*-24 Month CD
OTHER TIERS: 0.80% $500 - $5k
0.90%*$5k*-30 Month CD
OTHER TIERS: 0.85% $500 - $5k
0.65%*$5k*-12 Month CD
OTHER TIERS: 0.55% $500 - $5k
0.65%*$5k*-18 Month CD
OTHER TIERS: 0.55% $500 - $5k
0.40%*$5k*-182 Day CD
OTHER TIERS: 0.30% $2,500 - $5k
0.25%*$5k*-91 Day CD
OTHER TIERS: 0.15% $2,500 - $5k
Locations


State Bank of Richmond Locations
State Bank Of Richmond22 Central Avenue SouthRichmond, MN 56368

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