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 1,484^th largest bank in the nation. It was established in 1885 and as of June of 2020, it had grown to 83 employees at 5 locations. The Bank of Elk River has an A health rating.

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Posted by: Anonymous | Apr 19, 2011

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Health

Data as of Q2 2020

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	1607
Year Established	1885
Employees	83
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	1.11%
Return on Equity - YTD	11.85%
Annual Interest Income	$10.0MM

Assets and Liabilities
Assets	Q2 2020vs Q2 2019	$546.5MM$435.6MM
Loans	Q2 2020vs Q2 2019	$362.1MM$283.9MM
Deposits	Q2 2020vs Q2 2019	$495.7MM$392.2MM
Equity Capital	Q2 2020vs Q2 2019	$47.8MM$42.3MM
Loan Loss Allowance	Q2 2020vs Q2 2019	$4.3MM$3.1MM
Unbacked Noncurrent Loans	Q2 2020vs Q2 2019	$132.00K$4.00K
Real Estate Owned	Q2 2020vs Q2 2019	$63.00K$676.00K

Rates

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Money Market
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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
0.35%^*	$10k^*	-	Health Savings Accounts
OTHER TIERS: 0.05% → Up to $1k \| 0.15% → $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
0.35%^*	$250k^*	-	Personal Money Market Premier
OTHER TIERS: 0.10% → Up to $25k \| 0.15% → $25k - $50k \| 0.17% → $50k - $100k \| 0.25% → $100k - $250k
0.30%^*	$250k^*	-	High Yield Business Money Market
OTHER TIERS: 0.10% → Up to $25k \| 0.12% → $25k - $50k \| 0.15% → $50k - $100k \| 0.20% → $100k - $250k
0.30%^*	$250k^*	-	Personal Money Market Plus
OTHER TIERS: 0.10% → Up to $25k \| 0.12% → $25k - $50k \| 0.14% → $50k - $100k \| 0.15% → $100k - $250k
0.25%^*	$250k^*	-	Business Money Market Plus
OTHER TIERS: 0.07% → Up to $25k \| 0.10% → $25k - $50k \| 0.12% → $50k - $100k \| 0.20% → $100k - $250k
0.10%^*	$10k^*	-	Personal Money Market
OTHER TIERS: 0.05% → Up to $1k \| 0.07% → $1k - $10k
0.10%^*	$10k^*	-	Business 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
0.07%^*	$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

APY	MIN	MAX	ACCOUNT NAME
0.80%	$200	-	60 Month CD
0.75%	$200	-	48 Month CD
0.70%	$200	-	36 Month CD
0.55%	$2.5k	-	30 Month CD Two Bumps
0.50%	$200	-	24 Month CD
0.45%	$200	-	15 Month CD Special
0.40%	$2.5k	-	18 Month CD One Bump
0.30%	$200	-	12 Month CD
0.30%	$200	-	5 Month CD Special
0.20%	$200	-	182 Day CD
0.15%	$200	-	91 Day CD

The Bank of Elk River IRA Rates

APY	MIN	MAX	ACCOUNT NAME
0.80%	$200	-	60 Month IRA
0.75%	$200	-	48 Month IRA
0.70%	$200	-	36 Month IRA
0.55%	$2.5k	-	30 Month IRA Two Bumps
0.50%	$200	-	24 Month IRA
0.45%	$200	-	15 Month IRA Special
0.40%	$2.5k	-	18 Month IRA One Bump
0.30%	$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

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