Granite Bank
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Data as of · sourced from FFIEC call reports. How we update
Granite Bank is an FDIC-insured commercial bank headquartered in Cold Spring, MN, established in 1902 (FDIC certificate 5116), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $353.2M, up 7.7% from Q2 2025, the 75th largest of 221 banks headquartered in Minnesota. Its CET1 capital ratio was 9.91% at Q2 2026, above the 7% level required once the capital conservation buffer is included.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 5116
- Headquarters
- Cold Spring, MN
- Established
- 1902
- Total assets, Q2 2026
- $353.2M
- Assets vs Q2 2025
- +7.7%
- CET1 ratio, Q2 2026
- 9.91%
- Domestic offices
- 2 FDIC institution directory, current count
- Routing number
- 091904827
- Holding company
- FIRST BANCSHARES, INC., OF COLD SPRING
- Asset rank in state
- 75th of 221 in Minnesota
Problem loans are rising at Granite Bank. Its balance sheet stood at $353 million at June 30, 2026, up 7.7% from a year earlier; it is based in Cold Spring, Minnesota. Loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 1.38% of loans from 0.33% a year earlier. It spends about 88 cents to bring in each dollar of revenue, higher than about 9 in 10 of the 2,660 banks with $100 million to $1 billion in assets (median 61 cents). It also holds common equity equal to 9.91% of its risk-weighted assets, lower than about 9 in 10 banks its size (median 15.12%).
Earnings jumped: net income for the quarter was $1.4 million, 48% above the same quarter a year earlier. Over the same year, loans grew 9.3% and deposits grew 5.8%. Credit is the area to watch: it carries problem assets equal to 14.0% of the capital and reserves that would absorb them, 5.3 times the median of 2.6% for banks its size.
As of June 30, 2026, Granite Bank reported a CET1 capital ratio of 9.91%, a return on assets of 1.58%, a nonperforming-loan ratio of 1.38% and a Texas ratio of 13.97%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, Granite Bank is the 75th largest of the 221 banks headquartered in Minnesota. Quarter on quarter (Q1 2026 to Q2 2026), its total assets rose 1.8% to $353.2M, loans rose 1.7% and deposits fell 2.7%. The largest part of its loan book on June 30, 2026 was 1-4 family residential loans, at 36.3% of total loans, ahead of owner-occupied commercial real estate loans at 16.9%. Its 2 offices in the FDIC Summary of Deposits are in Cold Spring, MN and Champlin, MN; its Cold Spring office books 73% of its branch deposits. By the capital ratios in its Q2 2026 call report, Granite Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 202 2nd Ave S, Cold Spring, MN 56320
- County
- Stearns
- Metro Area
- St. Cloud, 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
- January 1, 1902
- Former names
- Granite Community Bank (2013-2021)
- Domestic offices
- 2 FDIC institution directory, current count
- Employees (FTE)
- 275
- Domestic deposits
- $289.3M
- Allowance for credit losses
- $2.1M
- Net charge-offs (YTD)
- $55K
- Average total assets
- $347.5M
- Average total loans
- $311.4M
- Average interest-bearing deposits
- $218.2M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 5116
- Fed RSSD
- 311256
- Website
- www.granitebank.com →
- Parent Holding Company
- FIRST BANCSHARES, INC., OF COLD SPRING (RSSD 1247969)
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
Granite Bank's total assets moved between a low of $278.1M (Q3 2023) and a high of $353.2M (Q2 2026) from Q3 2023 to 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
$353.2M total assets against $328.0M; $321.9M total liabilities against $298.8M.
$311.7M net loans and leases against $285.1M; $289.3M total deposits against $273.4M.
$15.7M securities against $19.3M; $6.5M cash and balances due against $7.2M.
$5.7M total interest income against $5.1M; $2.0M total interest expense against $1.9M.
$3.8M net interest income against $3.2M.
$13.8M total noninterest income against $9.3M; $15.6M total noninterest expense against $11.1M.
$105K provision for credit losses against $60K.
$1.4M net income against $928K.
1.58% return on assets against 1.16%; 4.56% net interest margin against 4.14%.
9.91% CET1 capital ratio against 9.82%; 8.53% tier 1 leverage ratio against 8.50%.
Inside the full Granite Bank 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 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.
Granite Bank rankings
Its closest position to the top of a national ranking is 357 of 3,640, for Texas Ratio; its furthest is 2,107 of 2,134, for CET1 ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.74% (Q4 2025) to 1.58% (Q2 2026) and its net interest margin ran from 4.06% (Q4 2024) to 4.57% (Q1 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 9.91% | 1.58% | 1.38% | 13.97% | 4.56% |
| Q1 2026 | 9.81% | 1.16% | 1.45% | 14.10% | 4.57% |
| Q4 2025 | 9.85% | 0.74% | 0.71% | 8.50% | 4.40% |
| Q3 2025 | 10.27% | 1.08% | 0.52% | 6.43% | 4.38% |
| Q2 2025 | 9.82% | 1.16% | 0.42% | 5.83% | 4.14% |
| Q1 2025 | 9.89% | 0.75% | 0.49% | 6.63% | 4.22% |
| Q4 2024 | 10.05% | 1.02% | 0.41% | 5.48% | 4.06% |
| Q3 2024 | 10.20% | 1.47% | 0.19% | 3.58% | 4.25% |
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 |
|---|---|---|---|
| Granite Bank (main office) | Cold Spring , MN | 56320 | $210.8M |
| Champlin Branch | Champlin , MN | 55316 | $78.6M |
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 |
|---|---|---|---|
| December 15, 2023 | Structure Change | Acquired Granite Mortgage, LLC Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| July 23, 2022 | Structure Change | Acquired Maple Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| July 22, 2022 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 3 events.
Regulatory record
Facts as filed or published, not a rating.
- Enforcement actions
- 1 against the institution (Federal Reserve). These actions name the parent holding company, FIRST BANCSHARES, INC., OF COLD SPRING, not the bank itself
- August 16, 2010, Federal Reserve: Written Agreement: First Bancshares, Inc., of Cold Spring, Cold Spring, Minnesota
- Period: Most recent institution action August 16, 2010. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- <0.1% of deposits in MN, rank 106 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 3,310 applications, 2,598 loans originated, $772.5M originated, across 33 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 14 loans, $2.6M approved, $187K 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
- 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 Granite Bank
What are Granite Bank's total assets?
As of the Q2 2026 filing, Granite Bank reported total assets of $353.2 million in its FFIEC call report.
Where is Granite Bank headquartered?
It is headquartered in Cold Spring, MN, United States.
When was Granite Bank founded?
It was established in 1902, per the FDIC institution directory.
Is Granite Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #5116). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Granite Bank?
Granite Bank's primary federal regulator is the FDIC.
What is Granite Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 9.91% in its Q2 2026 call report, above the 7% level required once the capital conservation buffer is included.
How many branches does Granite 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 Granite Bank's Texas Ratio?
Its Texas Ratio is 13.97% 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 Granite Bank previously called?
The charter now named Granite Bank has also operated as Granite Community Bank (2013-2021), per FDIC structure-change records.
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