The Bank of Elk River
REVIEWS
Based on 1 review
HEALTH RATING
A
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CURRENT TOP RATE
2.01% APY
33 Month CD Special
View all rates
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 1.25% | 5-year CD | 60 Month CD |
| 0.40% | 1-year CD | 12 Month CD 2.45% - Synchrony Bank 12 Month CD |
| 0.01% | Savings | Economy Savings |
Overview / Commentary
The Bank of Elk River is headquartered in Elk River and is the 36th largest bank in the state of Minnesota. It is also the 1,640th largest bank in the nation. It was established in 1885 and as of June of 2018, it had grown to 99 employees at 5 locations. The Bank of Elk River's money market rates are 70% 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
A
Data as of Q2 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 1607 |
| Year Established | 1885 |
| Employees | 99 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.2% |
| Return on Equity - YTD | 13.39% |
| Annual Interest Income | $8.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2018vs Q2 2017 | $425.3MM$400.1MM |
| Loans | Q2 2018vs Q2 2017 | $285.7MM$257.7MM |
| Deposits | Q2 2018vs Q2 2017 | $386.5MM$361.2MM |
| Equity Capital | Q2 2018vs Q2 2017 | $37.8MM$38.2MM |
| Loan Loss Allowance | Q2 2018vs Q2 2017 | $3.4MM$3.2MM |
| Unbacked Noncurrent Loans | Q2 2018vs Q2 2017 | $1.3MM$101.00K |
| Real Estate Owned | Q2 2018vs Q2 2017 | $0$1.5MM |
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.10%* | $10k* | - | Health Savings Accounts | ||
| OTHER TIERS: 0.03% → Up to $1k | 0.05% → $1k - $10k | |||||
| 0.05% | $100 | - | Business Savings | ||
| 0.05% | - | - | Statement Savings | ||
| 0.01% | $50 | - | Economy Savings | ||
The Bank of Elk River Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.75%* | $250k* | - | Personal Money Market Premier | ||
| OTHER TIERS: 0.10% → Up to $25k | 0.20% → $25k - $50k | 0.25% → $50k - $100k | 0.50% → $100k - $250k | |||||
| 0.42%* | $250k* | - | High Yeild Business Money Market | ||
| OTHER TIERS: 0.10% → Up to $25k | 0.15% → $25k - $50k | 0.20% → $50k - $100k | 0.30% → $100k - $250k | |||||
| 0.40%* | $250k* | - | Personal Money Market Plus | ||
| OTHER TIERS: 0.08% → Up to $25k | 0.11% → $25k - $50k | 0.15% → $50k - $100k | 0.25% → $100k - $250k | |||||
| 0.40%* | $250k* | - | Business Money Market Plus | ||
| OTHER TIERS: 0.08% → Up to $25k | 0.11% → $25k - $50k | 0.15% → $50k - $100k | 0.25% → $100k - $250k | |||||
| 0.05%* | $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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.08%* | $50k* | - | Ultimate Checking | ||
| OTHER TIERS: 0.03% → Up to $10k | 0.05% → $10k - $50k | |||||
| 0.05% | - | - | Commercial Checking w/ Interest | ||
| 0.05% | $750 | - | Carefree Checking | ||
The Bank of Elk River CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.01% | $200 | - | 33 Month CD Special | |
| 1.86% | $2.5k | - | 30 Month CD Two Bumps | |
| 1.76% | $200 | - | 15 Month CD Special | |
| 1.25% | $200 | - | 60 Month CD | |
| 1.00% | $200 | - | 48 Month CD | |
| 1.00% | $200 | - | 5 Month CD Special | |
| 0.75% | $2.5k | - | 18 Month CD One Bump | |
| 0.60% | $200 | - | 36 Month CD | |
| 0.45% | $200 | - | 24 Month CD | |
| 0.40% | $200 | - | 12 Month CD | |
| 0.20% | $200 | - | 182 Day CD | |
| 0.15% | $200 | - | 91 Day CD |
The Bank of Elk River IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.01% | $200 | - | 33 Month IRA Special | |
| 1.86% | $2.5k | - | 30 Month IRA Two Bumps | |
| 1.76% | $200 | - | 15 Month IRA Special | |
| 1.25% | $200 | - | 60 Month IRA | |
| 1.00% | $200 | - | 48 Month IRA | |
| 0.75% | $2.5k | - | 18 Month IRA One Bump | |
| 0.60% | $200 | - | 36 Month IRA | |
| 0.45% | $200 | - | 24 Month IRA | |
| 0.40% | $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 |