The First State Bank of Red Wing
BankRegReports is independent of The First State Bank of Red Wing and never asks for online banking logins or passwords.
Data as of · sourced from FFIEC call reports. How we update
The First State Bank of Red Wing is an FDIC-insured commercial bank headquartered in Red Wing, MN, established in 1915 (FDIC certificate 8191), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $86.3M, up 1.6% from Q2 2025, the 179th largest of 221 banks headquartered in Minnesota. Its CET1 capital ratio was 21.81% 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
- 8191
- Headquarters
- Red Wing, MN
- Established
- 1915
- Total assets, Q2 2026
- $86.3M
- Assets vs Q2 2025
- +1.6%
- CET1 ratio, Q2 2026
- 21.81%
- Domestic offices
- 3 FDIC institution directory, current count
- Routing number
- 091912547
- Latest call report
- Q2 2026, FFIEC 051 · The First State Bank of Red Wing call report
- Holding company
- NOBLE BANK HOLDING COMPANY, INC.
- Asset rank in state
- 179th of 221 in Minnesota
The First State Bank of Red Wing, based in Red Wing, Minnesota, reported $86 million in assets at June 30, 2026, up 1.6% from a year earlier. It keeps 2.52 cents of net interest income on every dollar of earning assets, lower than about 9 in 10 of the 583 banks with less than $100 million in assets (median 3.87 cents). It also funds 8.96% of its assets with Tier 1 capital, lower than about 9 in 10 banks its size (median 13.06%).
Earnings fell sharply: quarterly net income of $5,000 was 89% below a year earlier. Paper losses on its bond portfolio are shrinking: unrealized losses of $5.4 million equal 67% of Tier 1 capital, down from 78% a year earlier. Credit is the area to watch: it carries problem assets equal to 12.6% of the capital and reserves that would absorb them, 9.1 times the median of 1.4% for banks its size.
As of June 30, 2026, The First State Bank of Red Wing reported a CET1 capital ratio of 21.81%, a return on assets of 0.02%, a nonperforming-loan ratio of 1.07% and a Texas ratio of 12.60%. The figures come from its call report filed with the FFIEC.
Of the 221 banks headquartered in Minnesota, The First State Bank of Red Wing is the 179th largest by total assets at Q2 2026. Between Q1 2026 and Q2 2026, its total assets rose 1.7% to $86.3M, loans fell 0.2% and deposits rose 1.4%. 1-4 family residential loans made up 51.1% of its total loans on June 30, 2026, its largest category; next came non-owner-occupied commercial real estate loans at 14.2%. Its 3 offices in the FDIC Summary of Deposits are in Medford, MN, Mazeppa, MN and Red Wing, MN; its Medford office books 39% of its branch deposits. By the capital ratios in its Q2 2026 call report, The First State Bank of Red Wing meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 3209 S Service Dr, Red Wing, MN 55066
- County
- Goodhue
- Metro Area
- Red Wing, 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
- October 14, 1915
- Former names
- The First State Bank of Red Wing (1966); Farmers State Bank of Red Wing (1958-1966)
- Domestic offices
- 3 FDIC institution directory, current count
- Employees (FTE)
- 13
- Domestic deposits
- $83.1M
- Allowance for credit losses
- $293K
- Net charge-offs (YTD)
- $0
- Average total assets
- $90.7M
- Average total loans
- $35.0M
- Average interest-bearing deposits
- $65.4M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 8191
- Fed RSSD
- 818559
- Parent Holding Company
- NOBLE BANK HOLDING COMPANY, INC. (RSSD 1127548)
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
The First State Bank of Red Wing's total assets moved between a low of $78.1M (Q3 2023) and a high of $86.3M (Q2 2026) from Q3 2023 to Q2 2026, and it earned a profit in 7 of the 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$86.3M total assets against $85.0M; $83.3M total liabilities against $82.8M.
$34.2M net loans and leases against $34.9M; $83.1M total deposits against $82.6M.
$34.3M securities against $37.1M; $14.8M cash and balances due against $9.9M.
$847K total interest income against $794K; $301K total interest expense against $302K.
$546K net interest income against $492K.
$36K total noninterest income against $38K; $577K total noninterest expense against $486K.
No provision recorded in the last 12 quarters.
$5K net income against $44K.
0.02% return on assets against 0.20%; 2.52% net interest margin against 2.30%.
21.81% CET1 capital ratio against 20.21%; 8.96% tier 1 leverage ratio against 8.87%.
Inside the full The First State Bank of Red Wing terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeThe First State Bank of Red Wing rankings
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from -0.29% (Q1 2025) to 0.46% (Q3 2025) and its net interest margin ran from 2.18% (Q1 2025) to 2.61% (Q3 2025).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 21.81% | 0.02% | 1.07% | 12.60% | 2.52% |
| Q1 2026 | 21.14% | -0.07% | 1.07% | 14.17% | 2.52% |
| Q4 2025 | 20.60% | 0.30% | 1.05% | 12.05% | 2.61% |
| Q3 2025 | 20.24% | 0.46% | 1.03% | 14.25% | 2.61% |
| Q2 2025 | 20.21% | 0.20% | 1.45% | 25.46% | 2.30% |
| Q1 2025 | 20.80% | -0.29% | 1.32% | 32.54% | 2.18% |
| Q4 2024 | 21.03% | 0.16% | 1.13% | 56.15% | 2.23% |
| Q3 2024 | 20.42% | 0.45% | 0.00% | 0.00% | 2.48% |
Swipe the table sideways to see every column.
Branch Network
View all 3 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 |
|---|---|---|---|
| Medford Branch | Medford , MN | 55049 | $32.6M |
| Mazeppa Branch | Mazeppa , MN | 55956 | $28.3M |
| The First State Bank of Red Wing | Red Wing , MN | 55066 | $22.2M |
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 |
|---|---|---|---|
| August 22, 1987 | Structure Change | Acquired Peoples State Bank of Mazeppa Failure, Government Assistance Provided for the acquired bank | FFIEC NIC |
| August 21, 1987 | 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.
- Deposit market share
- <0.1% of deposits in MN, rank 211 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 1 loans, $994K approved, $994K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2020 (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
Add this badge to your website
Free to use. It shows The First State Bank of Red Wing’s latest filed figures and updates each quarter.
Similar banks
Compare The First State Bank of Red Wing with peers
Frequently asked about The First State Bank of Red Wing
What are The First State Bank of Red Wing's total assets?
As of the Q2 2026 filing, The First State Bank of Red Wing reported total assets of $86.3 million in its FFIEC call report.
Where is The First State Bank of Red Wing headquartered?
It is headquartered in Red Wing, MN, United States.
When was The First State Bank of Red Wing founded?
It was established in 1915, per the FDIC institution directory.
Is The First State Bank of Red Wing FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #8191). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates The First State Bank of Red Wing?
The First State Bank of Red Wing's primary federal regulator is the FDIC.
What is The First State Bank of Red Wing's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 21.81% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does The First State Bank of Red Wing operate?
It operates 3 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is The First State Bank of Red Wing's Texas Ratio?
Its Texas Ratio is 12.60% 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 The First State Bank of Red Wing previously called?
The charter now named The First State Bank of Red Wing has also operated as The First State Bank of Red Wing (1966), Farmers State Bank of Red Wing (1958-1966), per FDIC structure-change records.
Go deeper on The First State Bank of Red Wing.
Get an email when The First State Bank of Red Wing files its next call report, and benchmark it against any peer you choose.
Unlock The First State Bank of Red Wing, freeFree account