Grand Rapids State Bank
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Data as of · sourced from FFIEC call reports. How we update
Grand Rapids State Bank is an FDIC-insured commercial bank headquartered in Grand Rapids, MN, established in 1914 (FDIC certificate 10962), and it is supervised by the Federal Reserve. At Q2 2026 it reported total assets of $261.1M, up 10.0% from Q2 2025, the 96th largest of 221 banks headquartered in Minnesota. It reports no CET1 ratio; its Tier 1 leverage ratio was 10.03% at Q2 2026, above the 9% community bank leverage ratio requirement for being considered well capitalized.
- Charter
- Commercial bank
- Regulator
- Federal Reserve
- Deposit insurance
- FDIC
- FDIC certificate
- 10962
- Headquarters
- Grand Rapids, MN
- Established
- 1914
- Total assets, Q2 2026
- $261.1M
- Assets vs Q2 2025
- +10.0%
- Tier 1 leverage ratio, Q2 2026
- 10.03%
- Domestic offices
- 2 FDIC institution directory, current count
- Routing number
- 091211170
- Holding company
- WILCOX BANCSHARES, INC.
- Asset rank in state
- 96th of 221 in Minnesota
Grand Rapids State Bank is one of the more profitable banks of its size. The Grand Rapids, Minnesota bank had $261 million in assets at June 30, 2026, up 10.0% from a year earlier. It earns about $2.62 a year on every $100 of assets, about double the median of $1.28 for the 2,660 banks with $100 million to $1 billion in assets. It also keeps 5.36 cents of net interest income on every dollar of earning assets, higher than about 9 in 10 banks its size (median 3.95 cents).
Problem loans fell by more than half over the year: loans on nonaccrual or 90 or more days past due, net of government guarantees are down to 0.02% of loans from 2.08%. Loans and deposits moved in opposite directions: over the year loans fell 8.4% and deposits rose 10.5%.
As of June 30, 2026, Grand Rapids State Bank reported a return on assets of 2.62%, a nonperforming-loan ratio of 0.02% and a Texas ratio of 0.11%. The figures come from its call report filed with the FFIEC.
Grand Rapids State Bank ranks as the 96th largest of the 221 banks based in Minnesota, by total assets at Q2 2026. From Q1 2026 to Q2 2026, its total assets rose 1.5% to $261.1M, loans fell 3.7% and deposits rose 1.0%. Owner-occupied commercial real estate loans made up 28.8% of its total loans on June 30, 2026, its largest category; next came 1-4 family residential loans at 16.8%. Its 2 offices in the FDIC Summary of Deposits are in Grand Rapids, MN. By the capital ratios in its Q2 2026 call report, Grand Rapids State Bank meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- 523 Nw 1st Ave, Grand Rapids, MN 55744
- County
- Itasca
- Metro Area
- Grand Rapids, MN
- Charter
- Commercial bank, state charter, Fed member, FRB-supervised
- Primary Regulator
- Federal Reserve
- FDIC Region
- Kansas City (Region 11)
- Federal Reserve member
- Yes
- Federal Reserve district
- District 9, Minneapolis
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 041
- Established
- June 15, 1914
- Domestic offices
- 2 FDIC institution directory, current count
- Employees (FTE)
- 40
- Domestic deposits
- $234.1M
- Allowance for credit losses
- $1.1M
- Net charge-offs (YTD)
- -$25K
- Average total assets
- $258.7M
- Average total loans
- $144.5M
- Average interest-bearing deposits
- $160.5M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 10962
- Fed RSSD
- 1003558
- Website
- http://www.grsb.bank →
- Parent Holding Company
- WILCOX BANCSHARES, INC. (RSSD 1125245)
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, Grand Rapids State Bank 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, Grand Rapids State Bank's total assets ran between $230.5M (Q1 2025) and $261.1M (Q2 2026), and it earned a profit in 10 of the 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$261.1M total assets against $237.2M; $237.0M total liabilities against $216.6M.
$140.8M net loans and leases against $150.7M; $234.1M total deposits against $211.8M.
$52.0M securities against $42.3M; $53.4M cash and balances due against $27.8M.
$3.5M total interest income against $3.2M; $286K total interest expense against $314K.
$3.2M net interest income against $2.9M.
$788K total noninterest income against $379K; $2.2M total noninterest expense against $2.3M.
-$1K provision for credit losses against $3.0M.
$1.7M net income against -$1.9M.
2.62% return on assets against -3.17%; 5.36% net interest margin against 5.30%.
10.03% tier 1 leverage ratio against 9.71%.
Inside the full Grand Rapids State Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeGrand Rapids State Bank rankings
Its closest position to the top of a national ranking is 129 of 3,611, for ROA; its furthest is 3,231 of 3,640, for Texas Ratio.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from -3.17% (Q2 2025) to 2.62% (Q2 2026) and its net interest margin ran from 4.96% (Q3 2024) to 5.55% (Q3 2025).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 10.03% | 2.62% | 0.02% | 0.11% | 5.36% |
| Q1 2026 | 9.68% | 1.82% | 0.09% | 0.58% | 5.30% |
| Q4 2025 | 9.45% | 1.57% | 0.09% | 7.75% | 5.38% |
| Q3 2025 | 9.47% | 2.06% | 2.11% | 18.86% | 5.55% |
| Q2 2025 | 9.71% | -3.17% | 2.08% | 19.88% | 5.30% |
| Q1 2025 | 10.86% | 1.34% | 2.02% | 20.65% | 5.18% |
| Q4 2024 | 10.45% | 1.46% | 0.02% | 7.41% | 5.22% |
| Q3 2024 | 10.22% | 1.52% | 0.02% | 7.36% | 4.96% |
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 |
|---|---|---|---|
| Grand Rapids State Bank (main office) | Grand Rapids , MN | 55744 | $234.1M |
| Pokegama Branch | Grand Rapids , MN | 55744 | $0 |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- <0.1% of deposits in MN, rank 126 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 6 loans, $786K approved, $131K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 1995 (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 Grand Rapids State Bank
What are Grand Rapids State Bank's total assets?
As of the Q2 2026 filing, Grand Rapids State Bank reported total assets of $261.1 million in its FFIEC call report.
Where is Grand Rapids State Bank headquartered?
It is headquartered in Grand Rapids, MN, United States.
When was Grand Rapids State Bank founded?
It was established in 1914, per the FDIC institution directory.
Is Grand Rapids State Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #10962). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Grand Rapids State Bank?
Grand Rapids State Bank's primary federal regulator is the Federal Reserve.
How many branches does Grand Rapids State Bank 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 Grand Rapids State Bank's Texas Ratio?
Its Texas Ratio is 0.11% 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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