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Ultima Bank Minnesota


Overview / Commentary
www.ultimabank.com
218-938-4144
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 3,011th largest bank in the nation. It was established in 1904 and as of June of 2022, it had grown to 44 employees at 5 locations. Ultima Bank Minnesota has an A+ 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
A+

Data as of Q2 2022

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #8867
Year Established1904
Employees44
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.79%
Return on Equity - YTD16.63%
Annual Interest Income$5.4MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$212.8MM$211.5MM
LoansQ2 2022vs Q2 2021$195.6MM$191.4MM
DepositsQ2 2022vs Q2 2021$183.2MM$180.2MM
Equity CapitalQ2 2022vs Q2 2021$23.3MM$23.2MM
Loan Loss AllowanceQ2 2022vs Q2 2021$2.4MM$2.4MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$195.00K$2.8MM
Real Estate OwnedQ2 2022vs Q2 2021$111.00K$0
Rates

Rates for Ultima Bank Minnesota are currently being reviewed.

Locations


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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