First State Bank Minnesota
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Data as of · sourced from FFIEC call reports. How we update
First State Bank Minnesota is an FDIC-insured commercial bank headquartered in Le Roy, MN, established in 1893 (FDIC certificate 10162), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $105.9M, up 8.3% from Q2 2025, the 166th largest of 221 banks headquartered in Minnesota. It reports no CET1 ratio; its Tier 1 leverage ratio was 11.43% 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
- 10162
- Headquarters
- Le Roy, MN
- Established
- 1893
- Total assets, Q2 2026
- $105.9M
- Assets vs Q2 2025
- +8.3%
- Tier 1 leverage ratio, Q2 2026
- 11.43%
- Domestic offices
- 2 FDIC institution directory, current count
- Routing number
- 091204404
- Holding company
- FIRST LEROY BANCORPORATION, INC.
- Asset rank in state
- 166th of 221 in Minnesota
First State Bank Minnesota is one of the more profitable banks of its size. It reported $106 million in assets at June 30, 2026, up 8.3% from a year earlier. It earns about $2.07 a year on every $100 of assets, higher than about three-quarters of the 2,660 banks with $100 million to $1 billion in assets (median $1.28). It also pays an average of 1.18% on its deposits and borrowings, lower than about three-quarters of banks its size (median 1.80%). Much of that comes from cost control: it spends about 51 cents to bring in each dollar of revenue.
Earnings jumped: net income for the quarter was $548,000, 30% above the same quarter a year earlier.
As of June 30, 2026, First State Bank Minnesota reported a return on assets of 2.07%, a nonperforming-loan ratio of 0.80% and a Texas ratio of 5.27%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, First State Bank Minnesota is the 166th largest of the 221 banks headquartered in Minnesota. From Q1 2026 to Q2 2026, its total assets rose 0.7% to $105.9M, loans rose 2.5% and deposits rose 0.3%. The largest part of its loan book on June 30, 2026 was farmland and other real estate loans, at 39.9% of total loans, ahead of agricultural production loans at 34.4%. Its 2 offices in the FDIC Summary of Deposits are in Le Roy, MN and Spring Valley, MN; its Le Roy office books 51% of its branch deposits. By the capital ratios in its Q2 2026 call report, First State Bank Minnesota meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- 102 W Main St, Le Roy, MN 55951
- County
- Mower
- Metro Area
- Austin, 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
- June 1, 1893
- Domestic offices
- 2 FDIC institution directory, current count
- Employees (FTE)
- 13
- Domestic deposits
- $92.5M
- Allowance for credit losses
- $1.2M
- Net charge-offs (YTD)
- -$12K
- Average total assets
- $106.1M
- Average total loans
- $88.7M
- Average interest-bearing deposits
- $61.5M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 4, 1934
- FDIC Cert
- 10162
- Fed RSSD
- 60554
- Website
- www.fsbminnesota.com →
- Parent Holding Company
- FIRST LEROY BANCORPORATION, INC. (RSSD 1128899)
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 State Bank Minnesota reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
Over the 12 quarters to Q2 2026, First State Bank Minnesota's total assets ran between $89.0M (Q3 2023) and $109.3M (Q4 2025), 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
$105.9M total assets against $97.8M; $93.9M total liabilities against $86.9M.
$85.8M net loans and leases against $78.3M; $92.5M total deposits against $85.5M.
$7.0M securities against $8.9M; $9.9M cash and balances due against $7.4M.
$1.5M total interest income against $1.3M; $276K total interest expense against $314K.
$1.2M net interest income against $986K.
$36K total noninterest income against $33K; $619K total noninterest expense against $573K.
$5K provision for credit losses against $0.
$548K net income against $420K.
2.07% return on assets against 1.68%; 4.56% net interest margin against 4.10%.
11.43% tier 1 leverage ratio against 11.03%.
Inside the full First State Bank Minnesota terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeFirst State Bank Minnesota rankings
Its closest position to the top of a national ranking is 418 of 3,611, for ROA; its furthest is 3,624 of 4,196, for total assets.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 1.37% (Q1 2025) to 2.07% (Q2 2026) and its net interest margin ran from 3.85% (Q3 2024) to 4.56% (Q2 2026).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 11.43% | 2.07% | 0.80% | 5.27% | 4.56% |
| Q1 2026 | 11.37% | 1.89% | 1.78% | 11.69% | 4.51% |
| Q4 2025 | 10.66% | 1.72% | 1.01% | 6.42% | 4.03% |
| Q3 2025 | 10.96% | 1.72% | 0.47% | 3.02% | 4.30% |
| Q2 2025 | 11.03% | 1.68% | 0.85% | 5.63% | 4.10% |
| Q1 2025 | 10.74% | 1.37% | 0.81% | 5.38% | 4.01% |
| Q4 2024 | 11.04% | 1.40% | 0.57% | 3.88% | 3.88% |
| Q3 2024 | 11.01% | 1.46% | 2.08% | 14.28% | 3.85% |
Swipe the table sideways to see every column.
Branch Network
View all 2 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 Minnesota (main office) | Le Roy , MN | 55951 | $47.1M |
| Spring Valley Branch | Spring Valley , MN | 55975 | $45.4M |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- <0.1% of deposits in MN, rank 201 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 1 loans, $1.1M approved, $1.1M 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
- Enforcement actions, Mortgage lending (HMDA), 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 Minnesota
What are First State Bank Minnesota's total assets?
As of the Q2 2026 filing, First State Bank Minnesota reported total assets of $105.9 million in its FFIEC call report.
Where is First State Bank Minnesota headquartered?
It is headquartered in Le Roy, MN, United States.
When was First State Bank Minnesota founded?
It was established in 1893, per the FDIC institution directory.
Is First State Bank Minnesota FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #10162). 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 Minnesota?
First State Bank Minnesota's primary federal regulator is the FDIC.
How many branches does First State Bank Minnesota operate?
It operates 2 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 Minnesota's Texas Ratio?
Its Texas Ratio is 5.27% 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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