The First State Bank of Red Wing

Overview / Commentary
3209 South Service Drive
Red Wing, MN 55066

The First State Bank of Red Wing is headquartered in Red Wing and is the 187th largest bank in the state of Minnesota. It is also the 4,096th largest bank in the nation. It was established in 1915 and as of March of 2022, it had grown to 13 employees at 3 locations. The First State Bank of Red Wing has a B+ health rating.


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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

FDIC Certificate #8191
Year Established1915
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.2%
Return on Equity - YTD3.16%
Annual Interest Income$589.00K
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$90.0MM$92.8MM
LoansQ1 2022vs Q1 2021$27.6MM$29.9MM
DepositsQ1 2022vs Q1 2021$85.4MM$85.3MM
Equity CapitalQ1 2022vs Q1 2021$4.6MM$7.1MM
Loan Loss AllowanceQ1 2022vs Q1 2021$308.00K$306.00K
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$4.00K$0
Real Estate OwnedQ1 2022vs Q1 2021$0$0
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* 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

0.10%--Regular Savings

The First State Bank of Red Wing Money Market Rates

0.30%*$75k*-Golden Money Market Account
OTHER TIERS: 0.20% $10k - $75k
0.25%$5k-Money Market Checking

The First State Bank of Red Wing Checking Account Rates

0.05%$2.5k-Now Account

The First State Bank of Red Wing CD Rates

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

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

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