Ultima Bank Minnesota

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Overview / Commentary

www.ultimabank.com

218-435-2265

9 W Minnesota Ave
Winger, MN 56592

Ultima Bank Minnesota is headquartered in WINGER and is the 83^rd largest bank in the state of Minnesota. It is also the 2,533^rd largest bank in the nation. It was established in 1904 and as of June of 2024, it had grown to 50 employees at 6 locations. Ultima Bank Minnesota's savings rates are 6X the national average, and it boasts an A+ health rating.

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2022

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

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Health

A+

Data as of Q2 2024

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Health Grade Components

Overall
FDIC Certificate #	8867
Year Established	1904
Employees	50
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	2.29%
Return on Equity - YTD	22.94%
Annual Interest Income	$10.4MM

Assets and Liabilities
Assets	Q2 2024vs Q2 2023	$291.3MM$249.2MM
Loans	Q2 2024vs Q2 2023	$269.7MM$233.7MM
Deposits	Q2 2024vs Q2 2023	$243MM$208MM
Equity Capital	Q2 2024vs Q2 2023	$31.1MM$25.7MM
Loan Loss Allowance	Q2 2024vs Q2 2023	$2.5MM$2.4MM
Unbacked Noncurrent Loans	Q2 2024vs Q2 2023	$111K$257K
Real Estate Owned	Q2 2024vs Q2 2023	$0$0

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	VIEW DETAILS
5.10%	$0	-	SMART Savings
2.99%^*	$350k^*	-	UBM Direct Savings
OTHER TIERS: 2.58% → $1k - $500k \| 2.78% → $100k - $350k
0.90%^*	$100k^*	-	IRA Savings
OTHER TIERS: 0.40% → $0 - $10k \| 0.50% → $10k - $25k \| 0.60% → $25k - $50k \| 0.70% → $50k - $75k \| 0.80% → $75k - $100k
0.80%^*	$50k^*	-	Health Savings Account
OTHER TIERS: 0.45% → $0 - $2.5k \| 0.50% → $2.5k - $10k \| 0.60% → $10k - $25k \| 0.70% → $25k - $50k
0.65%^*	$100k^*	-	Ultima Savings
OTHER TIERS: 0.40% → $0 - $10k \| 0.45% → $10k - $25k \| 0.50% → $25k - $50k \| 0.55% → $50k - $75k \| 0.60% → $75k - $100k
0.30%	$0	-	Regular Savings
0.25%	$0	-	Christmas Club

Ultima Bank Minnesota Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.55%^*	$75k^*	-	Money Market Savings
OTHER TIERS: 0.30% → $0 - $2.5k \| 0.35% → $2.5k - $10k \| 0.40% → $10k - $25k \| 0.45% → $25k - $50k \| 0.50% → $50k - $75k
0.50%^*	$75k^*	-	Money Market Checking
OTHER TIERS: 0.25% → $0 - $10k \| 0.30% → $1k - $10k \| 0.35% → $10k - $25k \| 0.40% → $25k - $50k \| 0.45% → $50k - $75k

Ultima Bank Minnesota Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
2.53%^*	$500k^*	-	Liquid Assets Checking
OTHER TIERS: 1.41% → $0 - $10k \| 1.66% → $10k - $50k \| 1.76% → $50k - $100k \| 2.22% → $100k - $250k \| 2.32% → $250k - $500k
0.60%^*	$100k^*	-	Ultima Checking
OTHER TIERS: 0.35% → $0 - $10k \| 0.40% → $10k - $25k \| 0.45% → $25k - $50k \| 0.50% → $50k - $75k \| 0.55% → $75k - $100k
0.25%	$500	-	NOW Checking

Ultima Bank Minnesota CD Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
4.25%	$1k	-	12 Month CD Special
4.15%	$1k	-	9 Month CD Special
3.20%	$1k	-	60 Month CD
3.20%	$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

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
3.30%	$1k	-	36 Month IRA
3.30%	$1k	-	60 Month IRA
3.10%	$1k	-	48 Month IRA
2.60%	$1k	-	24 Month IRA
2.35%	$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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