Ultima Bank Minnesota

Overview / Commentary
9 W Minnesota Ave
Winger, MN 56592

Ultima Bank Minnesota is headquartered in WINGER and is the 88th largest bank in the state of Minnesota. It is also the 2,638th largest bank in the nation. It was established in 1904 and as of December of 2023, it had grown to 49 employees at 6 locations. Ultima Bank Minnesota's savings rates are 6X the national average, and it has an A health rating.


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Health Grade Components

FDIC Certificate #8867
Year Established1904
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD2.09%
Return on Equity - YTD20.24%
Annual Interest Income$16.8MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$269.3MM$216.5MM
LoansQ4 2023vs Q4 2022$247.3MM$201.2MM
DepositsQ4 2023vs Q4 2022$231MM$181.4MM
Equity CapitalQ4 2023vs Q4 2022$25.3MM$23.5MM
Loan Loss AllowanceQ4 2023vs Q4 2022$2.5MM$2.4MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$320K$4K
Real Estate OwnedQ4 2023vs Q4 2022$0$0
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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

5.10%--SMART Savings
3.14%*$350k*-UBM Direct Savings
OTHER TIERS: 2.73% $1k - $500k | 2.94% $100k - $350k
1.00%*$100k*-IRA Savings
OTHER TIERS: 0.45% Up to $10k | 0.60% $10k - $25k | 0.70% $25k - $50k | 0.80% $50k - $75k | 0.90% $75k - $100k
0.95%*$50k*-Health Savings Account
OTHER TIERS: 0.50% Up to $2.5k | 0.55% $2.5k - $10k | 0.75% $10k - $25k | 0.85% $25k - $50k
0.80%*$100k*-Ultima Savings
OTHER TIERS: 0.45% Up to $10k | 0.60% $10k - $25k | 0.65% $25k - $50k | 0.70% $50k - $75k | 0.75% $75k - $100k
0.30%--Regular Savings
0.25%--Christmas Club

Ultima Bank Minnesota Money Market Rates

0.65%*$75k*-Money Market Savings
OTHER TIERS: 0.40% Up to $2.5k | 0.45% $2.5k - $10k | 0.50% $10k - $25k | 0.55% $25k - $50k | 0.60% $50k - $75k
0.60%*$75k*-Money Market Checking
OTHER TIERS: 0.40% Up to $10k | 0.45% $1k - $25k | 0.50% $25k - $50k | 0.55% $50k - $75k

Ultima Bank Minnesota Checking Account Rates

2.68%*$500k*-Liquid Assets Checking
OTHER TIERS: 1.56% Up to $10k | 1.81% $10k - $50k | 1.92% $50k - $100k | 2.38% $100k - $250k | 2.48% $250k - $500k
0.70%*$100k*-Ultima Checking
OTHER TIERS: 0.40% Up to $10k | 0.50% $10k - $25k | 0.55% $25k - $50k | 0.60% $50k - $75k | 0.65% $75k - $100k
0.25%$500-NOW Checking

Ultima Bank Minnesota CD Rates

5.00%$1k-9 Month CD Special
4.90%$1k-12 Month CD Special
3.25%$1k-60 Month CD
3.25%$1k-36 Month Bump Up CD
3.00%$1k-48 Month CD
2.50%$1k-24 Month CD
2.35%$1k-18 Month CD
2.25%$1k-12 Month CD
1.75%$1k-9 Month CD
1.50%$1k-6 Month CD
1.25%$1k-3 Month CD

Ultima Bank Minnesota IRA Rates

3.35%$1k-36 Month IRA
3.35%$1k-60 Month IRA
3.10%$1k-48 Month IRA
2.60%$1k-24 Month IRA
2.35%$1k-12 Month IRA

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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