First State Bank and Trust (Bayport, MN)
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Data as of · sourced from FFIEC call reports. How we update
First State Bank and Trust is an FDIC-insured commercial bank headquartered in Bayport, MN, established in 1914 (FDIC certificate 10159), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $499.0M, up 19.8% from Q2 2025, the 51st largest of 221 banks headquartered in Minnesota. Its CET1 capital ratio was 13.56% at Q2 2026, comfortably above the 7% level required once the capital conservation buffer is included.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 10159
- Headquarters
- Bayport, MN
- Established
- 1914
- Total assets, Q2 2026
- $499.0M
- Assets vs Q2 2025
- +19.8%
- CET1 ratio, Q2 2026
- 13.56%
- Domestic offices
- 4 FDIC institution directory, current count
- Routing number
- 091911551
- Holding company
- UNIVERSAL FINANCIAL SERVICES, INC.
- Asset rank in state
- 51st of 221 in Minnesota
First State Bank and Trust is one of the more profitable banks of its size. It reported $499 million in assets at June 30, 2026, up 19.8% from a year earlier. It returns 23.9% a year on shareholders' equity, about double the median of 12.5% for the 2,660 banks with $100 million to $1 billion in assets. It also grew deposits 25.4% over the year, 6.3 times the median of 4.0% for banks its size.
Earnings jumped: net income for the quarter was $2.4 million, 34% above the same quarter a year earlier. Over the same year, loans grew 4.8% and deposits grew 25.4%. Where it has less room is capital: it funds 8.91% of its assets with Tier 1 capital, lower than about three-quarters of banks its size (median 10.99%).
As of June 30, 2026, First State Bank and Trust reported a CET1 capital ratio of 13.56%, a return on assets of 1.99%, a nonperforming-loan ratio of 0.03% and a Texas ratio of 0.23%. The figures come from its call report filed with the FFIEC.
Of the 221 banks headquartered in Minnesota, First State Bank and Trust is the 51st largest by total assets at Q2 2026. Between Q1 2026 and Q2 2026, its total assets rose 5.9% to $499.0M, loans rose 6.2% and deposits rose 6.1%. The largest part of its loan book on June 30, 2026 was 1-4 family residential loans, at 40.4% of total loans, ahead of non-owner-occupied commercial real estate loans at 15.7%. Its 4 offices in the FDIC Summary of Deposits are in Bayport, MN, Oak Park Heights, MN and Hudson, WI; its Bayport office books 65% of its branch deposits. Judged on its Q2 2026 call report, First State Bank and Trust meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 950 Highway 95 N, Bayport, MN 55003
- County
- Washington
- 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
- Full trust powers granted
- Call Report form
- FFIEC 051
- Established
- January 1, 1914
- Former names
- First State Bank of Bayport (1996-2003)
- Domestic offices
- 4 FDIC institution directory, current count
- Employees (FTE)
- 81
- Domestic deposits
- $455.4M
- Allowance for credit losses
- $3.9M
- Net charge-offs (YTD)
- $0
- Average total assets
- $474.6M
- Average total loans
- $319.5M
- Average interest-bearing deposits
- $339.6M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 10159
- Fed RSSD
- 144856
- SEC CIK
- 1289107 → filed by UNIVERSAL FINANCIAL SERVICES, INC.
- Website
- https://www.fsbt.com →
- Parent Holding Company
- UNIVERSAL FINANCIAL SERVICES, INC. (RSSD 2387152)
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, First State Bank and Trust's total assets ran between $376.8M (Q2 2024) and $499.0M (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
$499.0M total assets against $416.6M; $458.8M total liabilities against $381.1M.
$325.9M net loans and leases against $310.9M; $455.4M total deposits against $363.2M.
$86.1M securities against $71.4M; $62.5M cash and balances due against $15.8M.
$6.2M total interest income against $5.4M; $1.9M total interest expense against $1.7M.
$4.2M net interest income against $3.7M.
$2.5M total noninterest income against $2.2M; $4.3M total noninterest expense against $4.0M.
$43K provision for credit losses against $147K.
$2.4M net income against $1.8M.
1.99% return on assets against 1.68%; 3.75% net interest margin against 3.73%.
13.56% CET1 capital ratio against 13.40%; 8.91% tier 1 leverage ratio against 9.19%.
Inside the full First State Bank and Trust 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.
Commercial real estate loans are between 200% and 300% of total capital, approaching the 2006 interagency guidance threshold of 300% that triggers heightened supervisory attention. BankRegReports early-warning band below the 300% guidance.
First State Bank and Trust rankings
Its closest position to the top of a national ranking is 500 of 3,611, for ROA; its furthest is 3,135 of 3,640, for Texas Ratio.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from 1.58% (Q1 2025) to 1.99% (Q2 2026) and its net interest margin ran from 3.35% (Q3 2024) to 3.84% (Q3 2025).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 13.56% | 1.99% | 0.03% | 0.23% | 3.75% |
| Q1 2026 | 14.34% | 1.67% | 0.00% | 0.00% | 3.50% |
| Q4 2025 | 14.49% | 1.80% | 0.00% | 0.00% | 3.75% |
| Q3 2025 | 14.17% | 1.88% | 0.03% | 0.20% | 3.84% |
| Q2 2025 | 13.40% | 1.68% | 0.03% | 0.22% | 3.73% |
| Q1 2025 | 13.55% | 1.58% | 0.00% | 0.00% | 3.49% |
| Q4 2024 | 13.91% | 1.72% | 0.00% | 0.00% | 3.55% |
| Q3 2024 | 13.87% | 1.61% | 0.00% | 0.00% | 3.35% |
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 State Bank and Trust (main office) | Bayport , MN | 55003 | $295.0M |
| Oak Park Heights Branch | Oak Park Heights , MN | 55082 | $121.1M |
| Hudson, Wi Branch | Hudson , WI | 54016 | $39.3M |
| Boutwell's Landing - Town Square Branch | Oak Park Heights , MN | 55082 | $0 |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 0.1% of deposits in MN, rank 73 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 184 applications, 118 loans originated, $36.8M originated, across 10 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 1 loans, $50K approved, $50K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2025 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, 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 State Bank and Trust
What are First State Bank and Trust's total assets?
As of the Q2 2026 filing, First State Bank and Trust reported total assets of $499.0 million in its FFIEC call report.
Where is First State Bank and Trust headquartered?
It is headquartered in Bayport, MN, United States.
When was First State Bank and Trust founded?
It was established in 1914, per the FDIC institution directory.
Is First State Bank and Trust FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #10159). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates First State Bank and Trust?
First State Bank and Trust's primary federal regulator is the FDIC.
What is First State Bank and Trust's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 13.56% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does First State Bank and Trust 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 State Bank and Trust's Texas Ratio?
Its Texas Ratio is 0.23% 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.
What was First State Bank and Trust previously called?
The charter now named First State Bank and Trust has also operated as First State Bank of Bayport (1996-2003), per FDIC structure-change records.
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