The First State Bank of Red Wing


Overview / Commentary
651-388-4714
3209 South Service Drive
Red Wing, MN 55066

The First State Bank of Red Wing is headquartered in RED WING and is the 186th largest bank in the state of Minnesota. It is also the 3,948th largest bank in the nation. It was established in 1915 and as of March of 2025, it had grown to 13 employees at 3 locations. The First State Bank of Red Wing has a C- health rating.

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Health
C-
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. The First State Bank of Red Wing has a relatively low asset base, and a negative return on equity.

Health Grade Components

Overall
FDIC Certificate #8191
Year Established1915
Employees13
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD-0.31%
Return on Equity - YTD-21.9%
Annual Interest Income$745K
Assets and Liabilities
AssetsQ1 2025vs Q1 2024$82.8MM$82.9MM
LoansQ1 2025vs Q1 2024$33.1MM$33.3MM
DepositsQ1 2025vs Q1 2024$81.1MM$76.7MM
Equity CapitalQ1 2025vs Q1 2024$1.5MM$508K
Loan Loss AllowanceQ1 2025vs Q1 2024$305K$305K
Unbacked Noncurrent LoansQ1 2025vs Q1 2024$440K$0
Real Estate OwnedQ1 2025vs Q1 2024$0$0
Rates

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Locations


The First State Bank of Red Wing Locations
Medford Branch115 First Street, N.E.Medford, MN 55049
The First State Bank Of Red Wing3209 S Service DrRed Wing, MN 55066
Mazeppa BranchFirst Street and State Highway 60Mazeppa, MN 55956

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