Deerwood Bank
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Data as of · sourced from FFIEC call reports. How we update
Deerwood Bank is an FDIC-insured commercial bank headquartered in Waite Park, MN, established in 1910 (FDIC certificate 5123), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $1.52B, up 22.6% from Q2 2025, the 9th largest of 221 banks headquartered in Minnesota. Its CET1 capital ratio was 11.34% at Q2 2026, above regulatory requirements.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 5123
- Headquarters
- Waite Park, MN
- Established
- 1910
- Total assets, Q2 2026
- $1.52B
- Assets vs Q2 2025
- +22.6%
- CET1 ratio, Q2 2026
- 11.34%
- Domestic offices
- 14 FDIC institution directory, current count
- Routing number
- 091907125
- Latest call report
- Q2 2026, FFIEC 051 · Deerwood Bank call report
- Holding company
- DEERWOOD BANCSHARES, INC.
- Asset rank in state
- 9th of 221 in Minnesota
Deerwood Bank operates with a thinner capital cushion than most banks of its size. Its balance sheet stood at $1.5 billion at June 30, 2026, up 22.6% from a year earlier; it is based in Waite Park, Minnesota. It funds 8.06% of its assets with Tier 1 capital, lower than about 9 in 10 of the 895 banks with $1 billion to $10 billion in assets (median 10.52%). It also grew deposits 24.0% over the year, 4.7 times the median of 5.1% for banks its size.
Net income for the quarter rose 23% from a year earlier, to $6.8 million. Over the same year, loans grew 3.2% and deposits grew 24.0%. Funding is the softer spot: it holds about half of its deposits (45%) above the FDIC insurance limit, higher than about three-quarters of banks its size (median 30.9%).
As of June 30, 2026, Deerwood Bank reported a CET1 capital ratio of 11.34%, a return on assets of 1.80%, a nonperforming-loan ratio of 0.29% and a Texas ratio of 4.26%. The figures come from its call report filed with the FFIEC.
Deerwood Bank ranks as the 9th largest of the 221 banks based in Minnesota, by total assets at Q2 2026. From Q1 2026 to Q2 2026, its total assets fell 2.6% to $1.52B, loans rose 3.4% and deposits fell 3.1%. Its loan book on June 30, 2026 was led by 1-4 family residential loans, at 34.3% of total loans, followed by commercial and industrial loans at 20.8%. The FDIC Summary of Deposits lists 14 offices for it, in 14 cities in MN; its Bemidji office books 27% of its branch deposits. On its Q2 2026 call report, Deerwood Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 131 6th Ave S, Waite Park, MN 56387
- County
- Stearns
- Metro Area
- St. Cloud, MN
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Kansas City (Region 11)
- Federal Reserve member
- No
- Federal Reserve district
- District 9, Minneapolis
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 051
- Established
- March 21, 1910
- Domestic offices
- 14 FDIC institution directory, current count
- Employees (FTE)
- 197
- Domestic deposits
- $1.38B
- Allowance for credit losses
- $8.2M
- Net charge-offs (YTD)
- $76K
- Average total assets
- $1.51B
- Average total loans
- $955.4M
- Average interest-bearing deposits
- $1.17B
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 5123
- Fed RSSD
- 314257
- Website
- deerwoodbank.com →
- Parent Holding Company
- DEERWOOD BANCSHARES, INC. (RSSD 2499082)
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
Over the 12 quarters to Q2 2026, Deerwood Bank's total assets ran between $979.2M (Q2 2024) and $1.56B (Q1 2026), and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$1.52B total assets against $1.24B; $1.38B total liabilities against $1.12B.
$946.7M net loans and leases against $917.6M; $1.38B total deposits against $1.11B.
$187.3M securities against $140.2M; $318.2M cash and balances due against $116.8M.
$20.9M total interest income against $16.5M; $5.6M total interest expense against $3.5M.
$15.3M net interest income against $13.0M.
$1.6M total noninterest income against $1.6M; $10.2M total noninterest expense against $8.5M.
-$145K provision for credit losses against $549K.
$6.8M net income against $5.5M.
1.80% return on assets against 1.92%; 4.21% net interest margin against 4.66%.
11.34% CET1 capital ratio against 11.22%; 8.06% tier 1 leverage ratio against 9.45%.
Inside the full Deerwood Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeDeerwood Bank rankings
Its closest position to the top of a national ranking is 728 of 4,196, for total assets; its furthest is 1,887 of 2,134, for CET1 ratio.
Metric pages for Deerwood Bank: Uninsured deposits.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from 0.87% (Q4 2024) to 2.00% (Q3 2025) and its net interest margin ran from 4.02% (Q1 2026) to 4.66% (Q2 2025).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 11.34% | 1.80% | 0.29% | 4.26% | 4.21% |
| Q1 2026 | 11.49% | 1.80% | 0.30% | 5.09% | 4.02% |
| Q4 2025 | 10.93% | 1.51% | 0.39% | 5.52% | 4.36% |
| Q3 2025 | 10.99% | 2.00% | 0.40% | 6.05% | 4.40% |
| Q2 2025 | 11.22% | 1.92% | 0.43% | 6.89% | 4.66% |
| Q1 2025 | 11.51% | 1.54% | 0.97% | 7.98% | 4.36% |
| Q4 2024 | 11.12% | 0.87% | 1.00% | 8.62% | 4.59% |
| Q3 2024 | 11.24% | 1.69% | 0.62% | 5.22% | 4.46% |
Swipe the table sideways to see every column.
Branch Network
View all 14 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Bemidji Branch | Bemidji , MN | 56601 | $377.9M |
| Deerwood Bank (main office) | Waite Park , MN | 56387 | $181.4M |
| Deerwood Branch | Deerwood , MN | 56444 | $141.6M |
| Baxter Branch | Baxter , MN | 56425 | $136.5M |
| Saint Michael Branch | Saint Michael , MN | 55376 | $125.6M |
| Mendota Heights Branch | Mendota Heights , MN | 55120 | $107.1M |
| Grand Rapids Branch | Grand Rapids , MN | 55744 | $62.9M |
| Sartell Branch | Sartell , MN | 56377 | $60.9M |
| Blackduck Branch | Blackduck , MN | 56630 | $50.2M |
| Saint Paul Branch | Saint Paul , MN | 55116 | $44.5M |
| Ogema Branch | Ogema , MN | 56569 | $29.7M |
| Garrison Branch | Garrison , MN | 56450 | $21.9M |
| Brainerd Office Branch | Brainerd , MN | 56401 | $21.7M |
| Northome Branch | Northome , MN | 56661 | $16.5M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| September 21, 2024 | Structure Change | Acquired Community Development Bank, FSB Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| April 28, 2018 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| April 28, 2018 | Structure Change | Acquired Plaza Park State Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| June 15, 2015 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| June 15, 2015 | Structure Change | Acquired American Bank of St. Paul Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| July 15, 2005 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| July 14, 2005 | Structure Change | Acquired Northland Community Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 7 events.
Regulatory record
Facts as filed or published, not a rating.
- Enforcement actions
- 1 against the institution (OCC)
- April 11, 1991, OCC: Formal Agreement: The First National Bank Of Deerwood
- Period: Most recent institution action April 11, 1991. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- 0.4% of deposits in MN, rank 19 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 1,101 applications, 937 loans originated, $183.4M originated, across 8 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 3 loans, $2.1M approved, $684K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2022 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about Deerwood Bank
What are Deerwood Bank's total assets?
As of the Q2 2026 filing, Deerwood Bank reported total assets of $1.52 billion in its FFIEC call report.
Where is Deerwood Bank headquartered?
It is headquartered in Waite Park, MN, United States.
When was Deerwood Bank founded?
It was established in 1910, per the FDIC institution directory.
Is Deerwood Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #5123). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Deerwood Bank?
Deerwood Bank's primary federal regulator is the FDIC.
What is Deerwood Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 11.34% in its Q2 2026 call report, above regulatory requirements.
How many branches does Deerwood Bank operate?
It operates 14 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Deerwood Bank's Texas Ratio?
Its Texas Ratio is 4.26% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
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