The First State Bank of Red Wing
LOCATIONS
3
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HEALTH RATING
B
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CURRENT TOP RATE
1.30% APY
72 Month CD
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Popular Accounts at this Bank
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 1.27% | 5-year CD | |
| 0.50% | 1-year CD | 2.65% - Barclays 12 Month Online CD |
| 0.15% | Savings | 2.00% - Ally Bank Online Savings Account |
Overview / Commentary
The First State Bank of Red Wing is headquartered in Red Wing and is the 192nd largest bank in the state of Minnesota. It is also the 4,513th largest bank in the nation. It was established in 1915 and as of September of 2018, 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 a B health rating.
Health
B
Data as of Q3 2018
Learn why bank health mattersAdditional 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 | 0.12% |
| Return on Equity - YTD | 1.4% |
| Annual Interest Income | $1.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2018vs Q3 2017 | $77.7MM$78.7MM |
| Loans | Q3 2018vs Q3 2017 | $22.8MM$23.0MM |
| Deposits | Q3 2018vs Q3 2017 | $71.2MM$71.2MM |
| Equity Capital | Q3 2018vs Q3 2017 | $6.4MM$7.0MM |
| Loan Loss Allowance | Q3 2018vs Q3 2017 | $192.00K$218.00K |
| Unbacked Noncurrent Loans | Q3 2018vs Q3 2017 | $134.00K$93.00K |
| Real Estate Owned | Q3 2018vs Q3 2017 | $160.00K$160.00K |
Rates
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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 | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.50%* | $75k* | - | Golden Money Market Account | ||
| OTHER TIERS: 0.40% → $10k - $75k | |||||
| 0.35% | $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 | VIEW DETAILS |
|---|---|---|---|---|
| 1.30% | $500 | - | 72 Month CD | |
| 1.27% | $500 | - | 60 Month CD | |
| 1.01% | $500 | - | 48 Month CD | |
| 0.80% | $500 | - | 36 Month CD | |
| 0.60% | $500 | - | 24 Month CD | |
| 0.50% | $500 | - | 12 Month CD | |
| 0.35% | $500 | - | 6 Month CD | |
| 0.20% | $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 |