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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 180th largest bank in the state of Minnesota. It is also the 4,090th largest bank in the nation. It was established in 1915 and as of September of 2021, it had grown to 13 employees at 3 locations. The First State Bank of Red Wing has an A health rating.

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Health
A

Data as of Q3 2021

Learn why bank health matters
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 Established1915
Employees13
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.31%
Return on Equity - YTD3.96%
Annual Interest Income$1.9MM
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$96.9MM$87.4MM
LoansQ3 2021vs Q3 2020$27.4MM$29.7MM
DepositsQ3 2021vs Q3 2020$88.9MM$78.8MM
Equity CapitalQ3 2021vs Q3 2020$7.5MM$7.9MM
Loan Loss AllowanceQ3 2021vs Q3 2020$307.00K$229.00K
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$3.00K$5.00K
Real Estate OwnedQ3 2021vs Q3 2020$0$0
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 First State Bank of Red Wing Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%--Regular Savings

The First State Bank of Red Wing Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%*$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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$2.5k-Now Account

The First State Bank of Red Wing CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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 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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