Overview / Commentary
763-441-1000
630 Main Street
Elk River, MN 55330

The Bank of Elk River is headquartered in Elk River and is the 34th largest bank in the state of Minnesota. It is also the 1,603rd largest bank in the nation. It was established in 1885 and as of September of 2018, it had grown to 98 employees at 5 locations. The Bank of Elk River's money market rates are 82% higher than the national average, and it has an A health rating.

Reviews (1)

The Rating System Is Flawed.

Posted by: Anonymous | Apr 19, 2011

It will not let you rate them zero stars.



Health

Health Grade Components

Overall
FDIC Certificate #1607
Year Established1885
Employees98
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.25%
Return on Equity - YTD14%
Annual Interest Income$13.1MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$435.5MM$413.3MM
LoansQ3 2018vs Q3 2017$286.1MM$266.7MM
DepositsQ3 2018vs Q3 2017$395.9MM$373.5MM
Equity CapitalQ3 2018vs Q3 2017$38.1MM$38.7MM
Loan Loss AllowanceQ3 2018vs Q3 2017$3.6MM$3.3MM
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$1.3MM$606.00K
Real Estate OwnedQ3 2018vs Q3 2017$0$757.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not The Bank of Elk River; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

The Bank of Elk River Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%*$10k*-Health Savings Accounts
OTHER TIERS: 0.05% Up to $1k | 0.10% $1k - $10k
0.07%$100-Business Savings
0.07%--Statement Savings
0.01%$50-Economy Savings

The Bank of Elk River Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.80%*$250k*-Personal Money Market Premier
OTHER TIERS: 0.10% Up to $25k | 0.20% $25k - $50k | 0.25% $50k - $100k | 0.55% $100k - $250k
0.45%*$250k*-High Yield Business Money Market
OTHER TIERS: 0.10% Up to $25k | 0.15% $25k - $50k | 0.20% $50k - $100k | 0.30% $100k - $250k
0.45%*$250k*-Personal Money Market Plus
OTHER TIERS: 0.10% Up to $25k | 0.15% $25k - $50k | 0.18% $50k - $100k | 0.28% $100k - $250k
0.45%*$250k*-Business Money Market Plus
OTHER TIERS: 0.08% Up to $25k | 0.11% $25k - $50k | 0.15% $50k - $100k | 0.25% $100k - $250k
0.10%*$10k*-Business Money Market
OTHER TIERS: 0.03% Up to $1k | 0.05% $1k - $10k
0.07%*$10k*-Personal Money Market
OTHER TIERS: 0.03% Up to $1k | 0.05% $1k - $10k

The Bank of Elk River Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$50k*-Ultimate Checking
OTHER TIERS: 0.05% Up to $10k | 0.07% $10k - $50k
0.07%--Commercial Checking w/ Interest
0.07%$750-Carefree Checking

The Bank of Elk River CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.01%$200-33 Month CD Special
1.86%$2.5k-30 Month CD Two Bumps
1.77%$200-36 Month CD
1.76%$200-15 Month CD Special
1.61%$200-60 Month CD
1.51%$200-24 Month CD
1.51%$200-48 Month CD
1.51%$2.5k-18 Month CD One Bump
1.00%$200-5 Month CD Special
0.75%$200-12 Month CD
0.60%$200-182 Day CD
0.25%$200-91 Day CD

The Bank of Elk River IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.01%$200-33 Month IRA Special
1.86%$2.5k-30 Month IRA Two Bumps
1.77%$200-36 Month IRA
1.76%$200-15 Month IRA Special
1.61%$200-60 Month IRA
1.51%$2.5k-18 Month IRA One Bump
1.51%$200-24 Month IRA
1.51%$200-48 Month IRA
0.75%$200-12 Month IRA
Locations


The Bank of Elk River Locations
Otsego Office15800 88th Street NortheastOtsego, MN 55330
Elk River Branch18185 Zane Street N.W.Elk River, MN 55330
Zimmerman Office Branch26319 2nd St. EZimmerman, MN 55398
The Bank Of Elk River630 Main StreetElk River, MN 55330
School Street Office846 Freeport AvenueElk River, MN 55330

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