Minnesota Banks

227 FDIC-insured banks · Average health score 52/100 · 24 failures since 2000

A
5
banks
B
55
banks
C
79
banks
D
43
banks
F
45
banks

Banking in Minnesota — What the FDIC Data Shows

Minnesota is home to 227 FDIC-insured banks holding a combined $114.9B in total assets and $99.1B in customer deposits. The average PlainBankData health score across all Minnesota banks is 52/100, derived from four FDIC Call Report metrics: Tier 1 Capital Ratio, Return on Assets, Texas Ratio, and Efficiency Ratio. The largest institution headquartered in the state is Ameriprise Bank, FSB of Minneapolis, with $25.3B in assets and a health grade of A.

Looking at the grade distribution, 60 banks (26%) earn an A or B grade — signaling strong capital ratios and healthy profitability — while 79 sit at Grade C (meeting regulatory minimums with some areas to monitor) and 88 (39%) carry a D or F grade, indicating notable financial weaknesses in one or more of the four scoring pillars. Since 2000, Minnesota has seen 24 bank failures tracked on the FDIC Failed Bank List. A higher failure count typically correlates with concentrated real-estate lending exposure during the 2008–2010 crisis years.

Not financial advice. These figures are drawn from public FDIC Call Reports and the FDIC Failed Bank List. Health grades are PlainBankData's interpretation of regulatory filings, not official FDIC ratings or endorsements. A lower grade does not mean your money is at risk — every dollar on deposit at any FDIC-insured bank is protected up to $250,000 per depositor, per ownership category, regardless of the institution's financial condition. For decisions about where to hold deposits or business funds, consult a qualified financial professional and verify figures directly at the FDIC's BankFind Suite.

Bank Assets Grade
Ameriprise Bank, FSB $25.3B A
Bridgewater Bank $5.4B C
Frandsen Bank & Trust $3.7B B
Stearns Bank National Association $3.3B B
Minnwest Bank $3.0B C
Merchants Bank, National Association $2.9B C
Tradition Capital Bank $2.6B C
Think Mutual Bank $2.2B F
Park State Bank $1.5B B
Citizens Alliance Bank $1.5B C
North American Banking Company $1.5B B
Deerwood Bank $1.4B B
United Bankers' Bank $1.3B C
Security Bank & Trust Company $1.3B B
Premier Bank $1.1B B
MidCountry Bank $1.0B C
The First National Bank of Bemidji $1.0B F
United Prairie Bank $954M C
Vermillion State Bank $931M D
Falcon National Bank $921M F
Pioneer Bank $897M B
Midwest Bank $893M D
21st Century Bank $876M B
First National Bank North $845M A
Northeast Bank $829M C
First Resource Bank $827M C
Highland Bank $766M D
Alliance Bank $758M C
VersaBank USA National Association $748M B
The Bank of Elk River $718M C
Premier Bank Minnesota $710M B
FM Bank $705M C
Platinum Bank $694M C
HomeTown Bank $663M D
BankVista $633M C
First Independent Bank $600M C
Citizens Bank Minnesota $596M D
American Heritage National Bank $587M B
WNB FINANCIAL, N.A. $585M F
North Shore Bank of Commerce $583M F
Glenwood State Bank (Incorporated) $566M B
Scale Bank $564M F
Community Bank Mankato $543M C
Community Resource Bank $542M C
Lake Elmo Bank $531M B
Profinium, Inc. $523M C
Luminate Bank $511M C
Northern State Bank of Thief River Falls $494M B
First Farmers & Merchants Bank $490M B
EntreBank $485M D
Sterling State Bank $482M D
American National Bank of Minnesota $475M C
First State Bank and Trust $473M B
Northview Bank $470M F
Star Bank $465M C
First National Bank Minnesota $451M C
Kensington Bank $446M C
Crown Bank $444M F
Foresight Bank $423M B
Village Bank $418M C
My Kind of Bank, National Association $418M C
ProGrowth Bank $412M C
Peoples State Bank of Plainview $411M B
BankCherokee $408M C
North Star Bank $407M F
First State Bank Southwest $397M C
Heritage Bank National Association $393M D
Pine Country Bank $384M B
The Citizens National Bank of Park Rapids $375M D
Sentry Bank $375M F
First Bank Elk River $364M F
United Community Bank $354M F
Granite Bank $351M F
Farmers and Merchants State Bank of Pierz $342M F
Sherburne State Bank $337M B
Reliance Bank $325M F
First Bank Blue Earth $322M F
Citizens Bank & Trust Co. $322M C
Ultima Bank Minnesota $317M D
The State Bank of Faribault $316M D
Citizens Independent Bank $315M D
Woodlands National Bank $312M C
Neighborhood National Bank $309M B
VIKING BANK, NATIONAL ASSOCIATION $307M D
Gateway Bank $301M B
Minnesota National Bank $291M C
Castle Rock Bank $290M B
Lake Central Bank $287M B
Citizens State Bank of Roseau $287M F
Liberty Bank Minnesota $284M C
The First National Bank of Milaca $284M B
Eagle Rock Bank $272M C
Security Bank USA $262M B
VisionBank $257M B
Drake Bank $256M D
Grand Rapids State Bank $253M F
BANKWEST $248M B
First Farmers & Merchants National Bank $244M B
First State Bank of Wyoming $244M F
Cornerstone State Bank $242M F
Union Bank and Trust Company $239M C
Arcadian Bank $237M D
United Farmers State Bank $235M D
Harvest Bank $235M C
The Wanda State Bank $234M F
Center National Bank $233M B
Security State Bank of Marine $232M A
Commerce Bank $230M B
Riverland Bank $229M F
Eagle Bank $224M B
F & M Community Bank, National Association $214M F
PrinsBank $210M B
Home State Bank $209M C
Wadena State Bank $206M D
Farmers State Bank of Hamel $200M C
Keen Bank, National Association $199M C
ESB Bank $196M D
First Security Bank - Sleepy Eye $193M C
Minnstar Bank National Association $191M C
New Market Bank $191M D
Pine River State Bank $188M C
Lakeview Bank $188M C
The First National Bank of Le Center $178M F
Americana Community Bank $174M F
Freeport State Bank $169M C
Northwestern Bank, National Association $169M F
Woodland Bank $168M D
Perennial Bank $157M C
First Southeast Bank $155M D
First Security Bank $154M C
The First State Bank of Rosemount $152M F
Security State Bank of Hibbing $151M C
Security Bank Minnesota $148M C
Valley Premier Bank $147M F
Prime Security Bank $146M C
Citizens State Bank Norwood Young America $145M B
First Farmers & Merchants National Bank $144M C
Lake Region Bank $144M B
Northwoods Bank of Minnesota $143M F
Security State Bank of Warroad $142M F
State Bank of Fairmont $142M C
Farmers and Merchants State Bank of Springfield $141M B
The First National Bank of Moose Lake $139M D
Western National Bank $135M D
Worthington Federal Savings Bank, FSB $133M C
St. Clair State Bank (Incorporated) $131M D
MINNESOTA LAKES BANK $129M C
The First National Bank of Bagley $128M C
State Bank of New Richland $126M B
The First National Bank of Cokato $125M B
COMMUNITY FIRST BANK $125M F
Grand Marais State Bank $123M C
Key Community Bank $121M C
Red River State Bank $120M F
Battle Bank, National Association $119M F
Global Innovations Bank $118M D
Heritage Bank Minnesota $118M D
Mid-Central National Bank $116M C
First State Bank of Le Center $114M C
First State Bank of Bigfork $114M C
Security State Bank of Wanamingo $114M D
Produce State Bank $114M B
Farmers State Bank of Underwood $114M C
Prairie Sun Bank $113M C
Security State Bank of Aitkin $113M F
Rushford State Bank (Incorporated) $110M C
The First National Bank of Coleraine $110M C
First State Bank Minnesota $109M D
Hometown Community Bank $105M F
Currie State Bank $102M F
Northern State Bank of Virginia $101M B
The Miners National Bank of Eveleth $99M C
Community Bank Owatonna $98M C
First Farmers & Merchants State Bank of Grand Meadow $98M C
The First National Bank of Osakis $95M C
Janesville State Bank $95M F
First Farmers & Merchants State Bank $94M C
Triumph State Bank $92M B
Integrity Bank Plus $90M C
Lowry State Bank $88M C
Concorde Bank $87M B
Root River State Bank $86M D
The First State Bank of Red Wing $86M D
First Security Bank - Canby $85M B
The First National Bank of Gilbert $85M C
Bank of Maple Plain $85M D
Odin State Bank $82M C
American State Bank of Grygla $81M F
Bonanza Valley State Bank $80M C
State Bank of Cold Spring $80M B
Farmers & Merchants State Bank of New York Mills, Incorporated $79M D
Farmers State Bank of Trimont $78M B
Elysian Bank $77M B
Vantage Bank $76M C
Security State Bank of Kenyon $72M C
B2 Bank National Association $72M F
Randall State Bank $71M F
State Bank of Chandler $70M B
Grand Timber Bank $64M C
Peoples State Bank of Wells $62M B

How to Read the Minnesota Bank Directory

This page lists every FDIC-insured bank with a primary regulatory address in Minnesota. Inclusion does not depend on charter type — both state-chartered and nationally-chartered banks appear here when the FDIC institution directory places their headquarters in this state. Branch locations, ATM networks, and credit unions are NOT in scope; this is a headquarters-anchored view. The 227 institutions shown reflect the most recent quarterly FDIC release; counts will change at each refresh as institutions merge, are acquired, or close.

Health Grade Interpretation

Each bank's letter grade (A through F) is computed from four FDIC-reported metrics: Tier 1 capital ratio, return on assets, the Texas Ratio (non-performing assets ÷ tangible capital), and the efficiency ratio. Grades are relative — every quarter we recompute thresholds against the full FDIC universe, so a "B" today may have been an "A" last cycle if the median improved. Across Minnesota, 60 institutions (26%) currently sit in the A or B band, while 88 (39%) fall in the D or F band. The C cluster — the broad middle — typically captures roughly half of any state's banks and is not a warning signal on its own.

What State Concentration Tells You

Banks register their headquarters in Minnesota for several distinct reasons: regional community service (the bulk of small community banks), favorable trust law (a handful of states attract large national fiduciary operations), regulatory familiarity, or historic charter inheritance. A high concentration of total assets in a single state — South Dakota, Delaware, and Ohio are well-known examples — usually reflects a few very large institutions choosing the state for tax or regulatory reasons, not breadth of local banking competition. Below the top of the table, the long tail of mid-sized and community banks gives a clearer picture of local market structure.

When Failures Matter

Since 2000, 24 banks headquartered in Minnesota have failed. Every depositor at those banks was made whole up to the standard FDIC insurance ceiling (currently $250,000 per depositor, per ownership category, per institution). Bank failures cluster around macro events (the 2008-2010 wave, the regional bank stress of 2023) rather than steady attrition, so a clean recent record at the state level does not imply state-level safety — it usually reflects the absence of a triggering shock. The "Under Stress" ranking is more useful for forward-looking comfort than the historical failure count, because it scores current capital and credit-loss capacity.

Sources, Refresh Cadence, and Corrections

Every figure on this page derives from the FDIC Quarterly Banking Profile and the FDIC Institution Directory, both of which are public-domain government datasets. We re-pull the data on the FDIC's schedule (a quarterly release plus monthly institution-directory delta files for merger and closure events). Asset and capital figures are reported as of the most recent quarter-end and lag the calendar by approximately ninety days — this is the FDIC's reporting lag, not ours. If a specific bank record looks wrong (renaming, merger, missing fields), the contact page accepts corrections; we reconcile them against the source feed at the next refresh.

Read our methodology — how this data is sourced, computed, and verified.

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Data sourced from official U.S. government datasets. See our methodology for details. Retrieved and formatted by PlainBankData Editorial