The First State Bank of Red Wing

Overview / Commentary

www.firststatebankredwing.com

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 188^th largest bank in the state of Minnesota. It is also the 4,261^st largest bank in the nation. It was established in 1915 and as of June of 2020, it had grown to 13 employees at 3 locations. The First State Bank of Red Wing's money market rates are 14% higher than the national average, and it has an A health rating.

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Health

Data as of Q2 2020

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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.

Health Grade Components

Overall
FDIC Certificate #	8191
Year Established	1915
Employees	13
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.22%
Return on Equity - YTD	2.4%
Annual Interest Income	$1.2MM

Assets and Liabilities
Assets	Q2 2020vs Q2 2019	$84.1MM$76.5MM
Loans	Q2 2020vs Q2 2019	$29.7MM$22.9MM
Deposits	Q2 2020vs Q2 2019	$75.5MM$68.8MM
Equity Capital	Q2 2020vs Q2 2019	$7.9MM$7.3MM
Loan Loss Allowance	Q2 2020vs Q2 2019	$199.00K$179.00K
Unbacked Noncurrent Loans	Q2 2020vs Q2 2019	$6.00K$62.00K
Real Estate Owned	Q2 2020vs Q2 2019	$0$0

Rates

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Savings
Money Market
Checking
CD

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Always verify rates and promotions with the bank or credit union. We are not The First State Bank of Red Wing; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

The First State Bank of Red Wing Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.15%	-	-	Regular Savings

The First State Bank of Red Wing Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.50%^*	$75k^*	-	Golden Money Market Account
OTHER TIERS: 0.35% → $10k - $75k
0.25%	$5k	-	Money Market Checking

The First State Bank of Red Wing Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.05%	$2.5k	-	Now Account

The First State Bank of Red Wing CD Rates

APY	MIN	MAX	ACCOUNT NAME
0.75%	$500	-	72 Month CD
0.60%	$500	-	60 Month CD
0.50%	$500	-	48 Month CD
0.40%	$500	-	36 Month CD
0.25%	$500	-	24 Month CD
0.20%	$500	-	12 Month CD
0.15%	$500	-	6 Month CD
0.10%	$500	-	3 Month CD

Locations

The First State Bank of Red Wing Locations
Medford Branch	115 First Street, N.E.	Medford, MN 55049
The First State Bank Of Red Wing	3209 South Service Drive	Red Wing, MN 55066
Mazeppa Branch	First Street and State Highway 60	Mazeppa, MN 55956

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