The Bank of Elk River

Overview / Commentary
630 Main Street
Elk River, MN 55330

The Bank of Elk River is headquartered in ELK RIVER and is the 32nd largest bank in the state of Minnesota. It is also the 1,411th largest bank in the nation. It was established in 1885 and as of September of 2023, it had grown to 92 employees at 4 locations. The Bank of Elk River has a B+ health rating.

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Health Grade Components

FDIC Certificate #1607
Year Established1885
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.98%
Return on Equity - YTD29.67%
Annual Interest Income$18.3MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$640.6MM$621.5MM
LoansQ3 2023vs Q3 2022$365.4MM$335.3MM
DepositsQ3 2023vs Q3 2022$618.7MM$607.4MM
Equity CapitalQ3 2023vs Q3 2022$19.1MM$12.1MM
Loan Loss AllowanceQ3 2023vs Q3 2022$4MM$4.8MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$439K$827K
Real Estate OwnedQ3 2023vs Q3 2022$0$0

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The Bank of Elk River Locations
Otsego Office15800 88th Street NortheastOtsego, MN 55330
Zimmerman Office Branch26319 2nd St. EZimmerman, MN 55398
The Bank Of Elk River630 Main St NwElk River, MN 55330
School Street Office846 Freeport AvenueElk River, MN 55330

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