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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 33rd largest bank in the state of Minnesota. It is also the 1,729th largest bank in the nation. It was established in 1885 and as of June of 2017, it had grown to 93 employees at 5 locations. The Bank of Elk River 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
Employees93
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.04%
Return on Equity - YTD11.26%
Annual Interest Income$7.6MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$400.1MM$376.2MM
LoansQ2 2017vs Q2 2016$257.7MM$236.6MM
DepositsQ2 2017vs Q2 2016$361.2MM$337.8MM
Equity CapitalQ2 2017vs Q2 2016$38.2MM$37.5MM
Loan Loss AllowanceQ2 2017vs Q2 2016$3.2MM$3.3MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$101.00K$1.7MM
Real Estate OwnedQ2 2017vs Q2 2016$1.5MM$4.0MM
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%--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%--Carefree Checking

The Bank of Elk River CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.36%$200-33 Month CD Special
1.10%$200-60 Month CD
1.10%$200-15 Month CD Special
1.00%$200-48 Month CD
0.40%$200-36 Month CD
0.37%$200-24 Month CD
0.35%$2,500-30 Month CD Two Bumps
0.30%$2,500-18 Month CD One Bump
0.22%$200-12 Month CD
0.17%$200-182 Day CD
0.12%$200-91 Day CD

The Bank of Elk River IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.36%$200-33 Month IRA Special
1.10%$200-60 Month IRA
1.10%$200-15 Month IRA Special
1.00%$200-48 Month IRA
0.40%$200-36 Month IRA
0.37%$200-24 Month IRA
0.35%$2,500-30 Month IRA Two Bumps
0.30%$2,500-18 Month IRA One Bump
0.22%$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