First Bank Elk River
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Data as of · sourced from FFIEC call reports. How we update
First Bank Elk River is an FDIC-insured commercial bank headquartered in Elk River, MN, established in 1907 (FDIC certificate 5136), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $369.2M, up 2.0% from Q2 2025, the 70th largest of 221 banks headquartered in Minnesota. It reports no CET1 ratio; its Tier 1 leverage ratio was 10.68% at Q2 2026, above the 9% community bank leverage ratio requirement for being considered well capitalized.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 5136
- Headquarters
- Elk River, MN
- Established
- 1907
- Total assets, Q2 2026
- $369.2M
- Assets vs Q2 2025
- +2.0%
- Tier 1 leverage ratio, Q2 2026
- 10.68%
- Domestic offices
- 4 FDIC institution directory, current count
- Routing number
- 091903844
- Latest call report
- Q2 2026, FFIEC 051 · First Bank Elk River call report
- Holding company
- FIRST NATIONAL FINANCIAL SERVICES INC.
- Asset rank in state
- 70th of 221 in Minnesota
Problem loans are rising at First Bank Elk River. Based in Elk River, Minnesota, it had $369 million in assets at June 30, 2026, up 2.0% from a year earlier. Loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 0.53% of loans from 0.20% a year earlier. It holds commercial real estate loans worth 3.1 times its capital, 2.6 times the median of 1.2 times for the 2,660 banks with $100 million to $1 billion in assets. It also earns about $0.66 a year on every $100 of assets, about half the median of $1.28 for banks its size.
Delinquency has appeared in its $101 million non-owner-occupied commercial real estate book: 4.37% of those loans are past due or on nonaccrual, against almost none a year earlier. Paper losses on its bond portfolio are shrinking: unrealized losses of $12 million equal 30% of Tier 1 capital, down from 38% a year earlier. Costs are the weak spot: it spends about 75 cents to bring in each dollar of revenue, higher than about three-quarters of banks its size (median 61 cents).
As of June 30, 2026, First Bank Elk River reported a return on assets of 0.66%, a nonperforming-loan ratio of 0.53% and a Texas ratio of 4.29%. The figures come from its call report filed with the FFIEC.
Of the 221 banks headquartered in Minnesota, First Bank Elk River is the 70th largest by total assets at Q2 2026. Between Q1 2026 and Q2 2026, its total assets rose 1.9% to $369.2M, loans rose 2.3% and deposits fell 0.8%. Non-owner-occupied commercial real estate loans made up 36.7% of its total loans on June 30, 2026, its largest category; next came owner-occupied commercial real estate loans at 22.2%. The FDIC Summary of Deposits lists 4 offices for it, in Elk River, MN, Anoka, MN and Rogers, MN; its Elk River 2 offices book 57% of its branch deposits. Judged on its Q2 2026 call report, First Bank Elk River meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- 812 Main St Nw, Elk River, MN 55330
- County
- Sherburne
- Metro Area
- Minneapolis-St. Paul-Bloomington, MN-WI
- 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
- January 1, 1907
- Domestic offices
- 4 FDIC institution directory, current count
- Employees (FTE)
- 44
- Domestic deposits
- $269.9M
- Allowance for credit losses
- $2.6M
- Net charge-offs (YTD)
- -$3K
- Average total assets
- $370.6M
- Average total loans
- $268.4M
- Average interest-bearing deposits
- $194.5M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 5136
- Fed RSSD
- 970055
- SEC CIK
- 1484473 → filed by FIRST NATIONAL FINANCIAL SERVICES INC.
- Website
- www.elkriver.bank →
- Parent Holding Company
- FIRST NATIONAL FINANCIAL SERVICES INC. (RSSD 1125357)
Profitability
Q2 annualizedBalance 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. As a community bank leverage ratio filer, First Bank Elk River reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
From Q3 2023 to Q2 2026, First Bank Elk River's total assets ranged from $343.7M (Q3 2023) to $369.2M (Q2 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
$369.2M total assets against $362.1M; $338.0M total liabilities against $336.3M.
$272.2M net loans and leases against $263.5M; $269.9M total deposits against $272.7M.
$62.2M securities against $67.5M; $4.8M cash and balances due against $5.8M.
$4.2M total interest income against $4.1M; $1.2M total interest expense against $1.5M.
$3.0M net interest income against $2.7M.
$420K total noninterest income against $443K; $2.6M total noninterest expense against $2.3M.
$0 provision for credit losses against $11K.
$615K net income against $537K.
0.66% return on assets against 0.58%; 3.47% net interest margin against 3.01%.
10.68% tier 1 leverage ratio against 9.53%.
Inside the full First Bank Elk River terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Loans outstanding are at or above total deposits. The bank reports little borrowing or brokered funding, so the difference is carried mainly by equity and other liabilities. Worth watching if loan growth continues to outpace deposits. Industry heuristic, not a supervisory threshold.
Commercial real estate loans exceed 300% of total capital, the threshold at which the 2006 interagency guidance flags a bank for heightened supervisory scrutiny. CRE concentration has been the central stress vector for regional banks since 2023. 2006 Interagency CRE Concentration Guidance (SR 07-1).
First Bank Elk River rankings
Its closest position to the top of a national ranking is 1,485 of 3,640, for Texas Ratio; its furthest is 3,068 of 3,611, for ROA.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from 0.41% (Q1 2025) to 3.46% (Q4 2025) and its net interest margin ran from 2.80% (Q4 2024) to 3.47% (Q2 2026).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 10.68% | 0.66% | 0.53% | 4.29% | 3.47% |
| Q1 2026 | 10.46% | 0.45% | 0.54% | 4.35% | 3.25% |
| Q4 2025 | 10.68% | 3.46% | 0.18% | 1.42% | 3.12% |
| Q3 2025 | 9.90% | 0.68% | 0.20% | 1.78% | 3.22% |
| Q2 2025 | 9.53% | 0.58% | 0.20% | 1.87% | 3.01% |
| Q1 2025 | 9.49% | 0.41% | 0.04% | 0.24% | 2.86% |
| Q4 2024 | 9.60% | 0.58% | 0.05% | 0.34% | 2.80% |
| Q3 2024 | 9.38% | 0.50% | 0.05% | 0.33% | 2.84% |
Swipe the table sideways to see every column.
Branch Network
View all 4 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 |
|---|---|---|---|
| First Bank Elk River (main office) | Elk River , MN | 55330 | $94.2M |
| Anoka Branch | Anoka , MN | 55303 | $82.1M |
| Elk Park Center Branch | Elk River , MN | 55330 | $58.7M |
| Hassan Branch | Rogers , MN | 55374 | $34.9M |
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 |
|---|---|---|---|
| March 8, 2008 | Structure Change | Acquired Security State Bank of Maple Lake Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| March 7, 2008 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 2 events.
Regulatory record
Facts as filed or published, not a rating.
- Enforcement actions
- 1 against the institution (OCC)
- July 14, 2009, OCC: Formal Agreement: The First National Bank of Elk River
- Period: Most recent institution action July 14, 2009. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- <0.1% of deposits in MN, rank 113 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 30 applications, 24 loans originated, $11.8M originated, across 2 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 1 loans, $25K approved, $25K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2023 (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 First Bank Elk River
What are First Bank Elk River's total assets?
As of the Q2 2026 filing, First Bank Elk River reported total assets of $369.2 million in its FFIEC call report.
Where is First Bank Elk River headquartered?
It is headquartered in Elk River, MN, United States.
When was First Bank Elk River founded?
It was established in 1907, per the FDIC institution directory.
Is First Bank Elk River FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #5136). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates First Bank Elk River?
First Bank Elk River's primary federal regulator is the FDIC.
How many branches does First Bank Elk River operate?
It operates 4 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is First Bank Elk River's Texas Ratio?
Its Texas Ratio is 4.29% 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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