Ultima Bank Minnesota

Overview / Commentary
9 W Minnesota Ave
Winger, MN 56592

Ultima Bank Minnesota is headquartered in WINGER and is the 104th largest bank in the state of Minnesota. It is also the 2,930th largest bank in the nation. It was established in 1904 and as of March of 2023, it had grown to 43 employees at 5 locations. Ultima Bank Minnesota has a B+ health rating.

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S.M.A.R.T. Savings Account @ 5.10% APY – For Those Younger Than 19 Years Old Only! - 12/19/2022

S.M.A.R.T. savings account @ 5.10% APY – for those younger than 19 years old only! (IF YOU ARE UNDER THE AGE OF 18, YOU CAN NOT APPLY ONLINE.) "SMART Savings, which stands for School Money At Right Time, is designed specifically for young adults who are 18 years of age or younger. The interest rate is variable at two and a half (2.5) percentage points below the Prime Rate, as published in the Wall Street Journal, with a floor rate of 2 percent and ceiling rate of 5 percent. Interest accrual begins on the first business day after the day we receive your deposit. Interest is calculated daily based on your available balance, then compounded and credited to your account quarterly. The Interest Rate is variable and subject to change without notice. Fees could reduce earnings. Any withdrawals prior to your 18th birthday may result in a penalty of six months of interest. Not


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Health Grade Components

FDIC Certificate #8867
Year Established1904
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD2.64%
Return on Equity - YTD23.64%
Annual Interest Income$3.4MM
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$217.6MM$211.8MM
LoansQ1 2023vs Q1 2022$199.1MM$186.9MM
DepositsQ1 2023vs Q1 2022$189.8MM$187.1MM
Equity CapitalQ1 2023vs Q1 2022$24.9MM$22.8MM
Loan Loss AllowanceQ1 2023vs Q1 2022$2.4MM$2.4MM
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$0$0
Real Estate OwnedQ1 2023vs Q1 2022$0$111.00K

Rates for Ultima Bank Minnesota are currently being reviewed.


Ultima Bank Minnesota Locations
Plummer Branch101 Central Ave EPlummer, MN 56748
Bemidji Branch101 Shevlin Avenue SwBemidji, MN 56601
Fosston Branch603 Hilligoss BoulevardFosston, MN 56542
Ultima Bank Minnesota9 W Minnesota AveWinger, MN 56592
East Grand Forks Branch205 Demers AvenueEast Grand Forks, MN 56721

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