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 98^th largest bank in the state of Minnesota. It is also the 2,983^rd largest bank in the nation. It was established in 1904 and as of December of 2019, it had grown to 43 employees at 5 locations. Ultima Bank Minnesota's savings rates are 3X the national average, and it has an A health rating.

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Health

Data as of Q4 2019

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Health Grade Components

Overall
FDIC Certificate #	8867
Year Established	1904
Employees	43
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	2.25%
Return on Equity - YTD	22%
Annual Interest Income	$11.6MM

Assets and Liabilities
Assets	Q4 2019vs Q4 2018	$188.7MM$176.6MM
Loans	Q4 2019vs Q4 2018	$177.3MM$166.2MM
Deposits	Q4 2019vs Q4 2018	$157.0MM$156.3MM
Equity Capital	Q4 2019vs Q4 2018	$18.7MM$17.5MM
Loan Loss Allowance	Q4 2019vs Q4 2018	$2.3MM$2.1MM
Unbacked Noncurrent Loans	Q4 2019vs Q4 2018	$432.00K$461.00K
Real Estate Owned	Q4 2019vs Q4 2018	$312.00K$54.00K

Rates

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Savings
Money Market
Checking
CD
IRA

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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Ultima Bank Minnesota Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
2.02%	-	-	SMART Savings
1.50%^*	$500k^*	-	UBM Direct Savings
OTHER TIERS: 1.00% → $1k - $500k
1.10%^*	$100k^*	-	IRA Savings
OTHER TIERS: 0.20% → Up to $10k \| 0.45% → $10k - $25k \| 0.60% → $25k - $50k \| 0.80% → $50k - $75k \| 0.95% → $75k - $100k
0.95%^*	$50k^*	-	Health Savings Account
OTHER TIERS: 0.20% → Up to $2.5k \| 0.40% → $2.5k - $10k \| 0.60% → $10k - $25k \| 0.70% → $25k - $50k
0.60%^*	$100k^*	-	Ultima Savings
OTHER TIERS: 0.25% → $10k - $25k \| 0.35% → $25k - $50k \| 0.40% → $50k - $75k \| 0.50% → $75k - $100k
0.10%	-	-	Christmas Club
0.10%	-	-	Regular Savings

Ultima Bank Minnesota Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.35%^*	$75k^*	-	Money Market Savings
OTHER TIERS: 0.15% → $2.5k - $10k \| 0.20% → $10k - $25k \| 0.25% → $25k - $50k \| 0.30% → $50k - $75k
0.25%^*	$75k^*	-	Money Market Checking
OTHER TIERS: 0.05% → $1k - $10k \| 0.10% → $10k - $25k \| 0.15% → $25k - $50k \| 0.20% → $50k - $75k

Ultima Bank Minnesota Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.75%^*	$500k^*	-	Liquid Assets Checking
OTHER TIERS: 0.20% → $10k - $50k \| 0.40% → $50k - $100k \| 0.50% → $100k - $250k \| 0.60% → $250k - $500k
0.50%^*	$100k^*	-	Ultima Checking
OTHER TIERS: 0.15% → $10k - $25k \| 0.25% → $25k - $50k \| 0.30% → $50k - $75k \| 0.40% → $75k - $100k
0.05%	$500	-	NOW Checking

Ultima Bank Minnesota CD Rates

APY	MIN	MAX	ACCOUNT NAME
1.35%	$1k	-	60 Month CD
1.25%	$1k	-	36 Month Bump Up CD Special
1.20%	$1k	-	48 Month CD
1.00%	$1k	-	36 Month CD
1.00%	$1k	-	12 Month CD Special
0.90%	$1k	-	24 Month CD
0.75%	$1k	-	12 Month CD
0.75%	$1k	-	18 Month CD
0.70%	$1k	-	9 Month CD
0.60%	$1k	-	6 Month CD
0.45%	$1k	-	3 Month CD

Ultima Bank Minnesota IRA Rates

APY	MIN	MAX	ACCOUNT NAME
1.45%	$1k	-	60 Month IRA
1.30%	$1k	-	48 Month IRA
1.10%	$1k	-	36 Month IRA
1.00%	$1k	-	24 Month IRA
0.85%	$1k	-	12 Month IRA

Locations

Ultima Bank Minnesota Locations
Plummer Branch	101 Central Ave E	Plummer, MN 56748
Bemidji Branch	101 Shevlin Avenue Sw	Bemidji, MN 56601
Fosston Branch	603 Hilligoss Boulevard	Fosston, MN 56542
Ultima Bank Minnesota	9 W Minnesota Ave	Winger, MN 56592
East Grand Forks Branch	205 Demers Avenue	East Grand Forks, MN 56721

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