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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 35th largest bank in the state of Minnesota. It is also the 1,684th largest bank in the nation. It was established in 1885 and as of March of 2018, it had grown to 98 employees at 5 locations. The Bank of Elk River has an A health rating.

Health

Health Grade Components

Overall
FDIC Certificate #1607
Year Established1885
Employees98
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.08%
Return on Equity - YTD11.89%
Annual Interest Income$4.1MM
Assets and Liabilities
AssetsQ1 2018vs Q1 2017$412.3MM$408.4MM
LoansQ1 2018vs Q1 2017$280.4MM$257.8MM
DepositsQ1 2018vs Q1 2017$374.6MM$370.7MM
Equity CapitalQ1 2018vs Q1 2017$36.9MM$36.8MM
Loan Loss AllowanceQ1 2018vs Q1 2017$3.1MM$3.1MM
Unbacked Noncurrent LoansQ1 2018vs Q1 2017$882.00K$515.00K
Real Estate OwnedQ1 2018vs Q1 2017$147.00K$1.1MM
Rates
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* 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
0.10%*$10k*-Health Savings Accounts
OTHER TIERS: 0.03% Up to $1k | 0.05% $1k - $10k
0.03%$100-Business Savings
0.03%--Statement Savings
0.01%$50-Economy Savings

The Bank of Elk River Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.37%*$250k*-High Yeild Business Money Market
OTHER TIERS: 0.08% Up to $25k | 0.11% $25k - $50k | 0.15% $50k - $100k | 0.25% $100k - $250k
0.37%*$250k*-Personal Money Market Plus
OTHER TIERS: 0.08% Up to $25k | 0.11% $25k - $50k | 0.15% $50k - $100k | 0.25% $100k - $250k
0.37%*$250k*-Business Money Market Plus
OTHER TIERS: 0.08% Up to $25k | 0.11% $25k - $50k | 0.15% $50k - $100k | 0.25% $100k - $250k
0.37%*$250k*-Personal Money Market Premier
OTHER TIERS: 0.08% Up to $25k | 0.11% $25k - $50k | 0.15% $50k - $100k | 0.25% $100k - $250k
0.05%*$1k*-Personal Money Market
OTHER TIERS: 0.03% Up to $1k
0.05%*$1k*-Business Money Market
OTHER TIERS: 0.03% Up to $1k

The Bank of Elk River Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.08%*$50k*-Ultimate Checking
OTHER TIERS: 0.03% Up to $10k | 0.05% $10k - $50k
0.03%--Commercial Checking w/ Interest
0.03%$750-Carefree Checking

The Bank of Elk River CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.81%$200-33 Month CD Special
1.30%$200-15 Month CD Special
1.15%$200-60 Month CD
1.00%$200-48 Month CD
1.00%$2,500-30 Month CD Two Bumps
0.75%$200-5 Month CD Special
0.60%$200-36 Month CD
0.40%$200-24 Month CD
0.35%$200-12 Month CD
0.35%$2,500-18 Month CD One Bump
0.20%$200-182 Day CD
0.15%$200-91 Day CD

The Bank of Elk River IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.81%$200-33 Month IRA Special
1.30%$200-15 Month IRA Special
1.15%$200-60 Month IRA
1.00%$2,500-30 Month IRA Two Bumps
1.00%$200-48 Month IRA
0.60%$200-36 Month IRA
0.40%$200-24 Month IRA
0.35%$2,500-18 Month IRA One Bump
0.35%$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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