The Bank of Elk River

Overview / Commentary

www.thebankofelkriver.com

763-441-1000

630 Main Street
Elk River, MN 55330

The Bank of Elk River is headquartered in Elk River and is the 34^th largest bank in the state of Minnesota. It is also the 1,597^th largest bank in the nation. It was established in 1885 and as of September of 2019, it had grown to 99 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)

Write a Review

The Rating System Is Flawed.

Posted by: Anonymous | Apr 19, 2011

It will not let you rate them zero stars.

Comment

Health

Data as of Q3 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	1607
Year Established	1885
Employees	99
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	1.57%
Return on Equity - YTD	16.68%
Annual Interest Income	$13.8MM

Assets and Liabilities
Assets	Q3 2019vs Q3 2018	$448.7MM$435.5MM
Loans	Q3 2019vs Q3 2018	$290.0MM$286.1MM
Deposits	Q3 2019vs Q3 2018	$403.2MM$395.9MM
Equity Capital	Q3 2019vs Q3 2018	$43.9MM$38.1MM
Loan Loss Allowance	Q3 2019vs Q3 2018	$3.2MM$3.6MM
Unbacked Noncurrent Loans	Q3 2019vs Q3 2018	$1,000$1.3MM
Real Estate Owned	Q3 2019vs Q3 2018	$0$0

Rates

Skip to rates for:

Savings
Money Market
Checking
CD
IRA

Report an Issue

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

APY	MIN	MAX	ACCOUNT NAME
0.35%^*	$10k^*	-	Health Savings Accounts
OTHER TIERS: 0.05% → Up to $1k \| 0.15% → $1k - $10k
0.10%	$100	-	Business Savings
0.10%	-	-	Statement Savings
0.01%	$50	-	Economy Savings

The Bank of Elk River Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.80%^*	$250k^*	-	Personal Money Market Premier
OTHER TIERS: 0.12% → Up to $25k \| 0.23% → $25k - $50k \| 0.30% → $50k - $100k \| 0.55% → $100k - $250k
0.50%^*	$250k^*	-	High Yield Business Money Market
OTHER TIERS: 0.15% → Up to $25k \| 0.20% → $25k - $50k \| 0.30% → $50k - $100k \| 0.37% → $100k - $250k
0.50%^*	$250k^*	-	Personal Money Market Plus
OTHER TIERS: 0.12% → Up to $25k \| 0.17% → $25k - $50k \| 0.20% → $50k - $100k \| 0.32% → $100k - $250k
0.45%^*	$250k^*	-	Business Money Market Plus
OTHER TIERS: 0.10% → Up to $25k \| 0.15% → $25k - $50k \| 0.20% → $50k - $100k \| 0.32% → $100k - $250k
0.15%^*	$10k^*	-	Business Money Market
OTHER TIERS: 0.05% → Up to $1k \| 0.07% → $1k - $10k
0.10%^*	$10k^*	-	Personal Money Market
OTHER TIERS: 0.05% → Up to $1k \| 0.07% → $1k - $10k

The Bank of Elk River Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.15%^*	$50k^*	-	Ultimate Checking
OTHER TIERS: 0.05% → Up to $10k \| 0.10% → $10k - $50k
0.10%	-	-	Commercial Checking w/ Interest
0.10%	$750	-	Carefree Checking

The Bank of Elk River CD Rates

APY	MIN	MAX	ACCOUNT NAME
1.41%	$200	-	15 Month CD Special
1.36%	$200	-	48 Month CD
1.36%	$200	-	60 Month CD
1.31%	$2.5k	-	30 Month CD Two Bumps
1.26%	$200	-	24 Month CD
1.26%	$200	-	36 Month CD
1.26%	$2.5k	-	18 Month CD One Bump
1.21%	$200	-	12 Month CD
1.21%	$200	-	5 Month CD Special
0.75%	$200	-	182 Day CD
0.50%	$200	-	91 Day CD

The Bank of Elk River IRA Rates

APY	MIN	MAX	ACCOUNT NAME
1.41%	$200	-	15 Month IRA Special
1.36%	$200	-	48 Month IRA
1.36%	$200	-	60 Month IRA
1.31%	$2.5k	-	30 Month IRA Two Bumps
1.26%	$2.5k	-	18 Month IRA One Bump
1.26%	$200	-	24 Month IRA
1.26%	$200	-	36 Month IRA
1.21%	$200	-	12 Month IRA

Locations

The Bank of Elk River Locations
Otsego Office	15800 88th Street Northeast	Otsego, MN 55330
Elk River Branch	18185 Zane Street N.W.	Elk River, MN 55330
Zimmerman Office Branch	26319 2nd St. E	Zimmerman, MN 55398
The Bank Of Elk River	630 Main Street	Elk River, MN 55330
School Street Office	846 Freeport Avenue	Elk River, MN 55330

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.