Keen Bank, N.A.
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Data as of · sourced from FFIEC call reports. How we update
Keen Bank, N.A. is an FDIC-insured commercial bank headquartered in Waseca, MN, established in 1902 (FDIC certificate 5270), and it is supervised by the OCC. At Q2 2026 it reported total assets of $201.1M, up 7.2% from Q2 2025, the 117th largest of 221 banks headquartered in Minnesota. Its CET1 capital ratio was 12.21% at Q2 2026, above regulatory requirements.
- Charter
- Commercial bank
- Regulator
- OCC
- Deposit insurance
- FDIC
- FDIC certificate
- 5270
- Headquarters
- Waseca, MN
- Established
- 1902
- Total assets, Q2 2026
- $201.1M
- Assets vs Q2 2025
- +7.2%
- CET1 ratio, Q2 2026
- 12.21%
- Domestic offices
- 3 FDIC institution directory, current count
- Routing number
- 091901561
- Latest call report
- Q2 2026, FFIEC 051 · Keen Bank, N.A. call report
- Holding company
- FRANKSON INVESTMENT CORPORATION
- Asset rank in state
- 117th of 221 in Minnesota
Keen Bank, N.A. is one of the more profitable banks of its size. The Waseca, Minnesota bank had $201 million in assets at June 30, 2026, up 7.2% from a year earlier. It returns 25.1% 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 keeps 5.10 cents of net interest income on every dollar of earning assets, higher than about 9 in 10 banks its size (median 3.95 cents).
Net income for the quarter rose 20% from a year earlier, to $1.1 million. Where it has less room is capital: it funds 8.43% of its assets with Tier 1 capital, lower than about 9 in 10 banks its size (median 10.99%).
As of June 30, 2026, Keen Bank, N.A. reported a CET1 capital ratio of 12.21%, a return on assets of 2.13%, a nonperforming-loan ratio of 0.06% and a Texas ratio of 0.49%. The figures come from its call report filed with the FFIEC.
Of the 221 banks headquartered in Minnesota, Keen Bank, N.A. is the 117th largest by total assets at Q2 2026. Between Q1 2026 and Q2 2026, its total assets rose 1.3% to $201.1M, loans rose 0.7% and deposits rose 1.6%. The largest part of its loan book on June 30, 2026 was 1-4 family residential loans, at 58.0% of total loans, ahead of owner-occupied commercial real estate loans at 16.8%. Its 3 offices in the FDIC Summary of Deposits are in Waseca, MN, Ellendale, MN and Owatonna, MN; its Waseca office books 72% of its branch deposits. On its Q2 2026 call report, Keen Bank, N.A. meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 101 State St N, Waseca, MN 56093
- County
- Waseca
- Charter
- Commercial bank, national (federal) charter, Fed member, OCC-supervised
- Primary Regulator
- OCC
- FDIC Region
- Kansas City (Region 11)
- Federal Reserve member
- Yes
- Federal Reserve district
- District 9, Minneapolis
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 051
- Established
- December 18, 1902
- Domestic offices
- 3 FDIC institution directory, current count
- Employees (FTE)
- 35
- Domestic deposits
- $181.5M
- Allowance for credit losses
- $1.9M
- Net charge-offs (YTD)
- $8K
- Average total assets
- $197.5M
- Average total loans
- $147.6M
- Average interest-bearing deposits
- $146.8M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 5270
- Fed RSSD
- 837354
- Website
- keen.bank →
- Parent Holding Company
- FRANKSON INVESTMENT CORPORATION (RSSD 1122534)
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, Keen Bank, N.A.'s total assets ran between $170.9M (Q3 2023) and $201.1M (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
$201.1M total assets against $187.5M; $184.5M total liabilities against $172.1M.
$146.8M net loans and leases against $134.7M; $181.5M total deposits against $169.4M.
$24.3M securities against $23.5M; $18.4M cash and balances due against $18.1M.
$3.1M total interest income against $2.8M; $641K total interest expense against $662K.
$2.4M net interest income against $2.2M.
$254K total noninterest income against $224K; $1.5M total noninterest expense against $1.4M.
$25K provision for credit losses against $50K.
$1.1M net income against $875K.
2.13% return on assets against 1.87%; 5.10% net interest margin against 4.77%.
12.21% CET1 capital ratio against 12.20%; 8.43% tier 1 leverage ratio against 8.48%.
Inside the full Keen Bank, N.A. terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeKeen Bank, N.A. rankings
Its closest position to the top of a national ranking is 369 of 3,611, for ROA; its furthest is 2,961 of 3,640, for Texas Ratio.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from 1.37% (Q4 2024) to 2.13% (Q2 2026) and its net interest margin ran from 4.22% (Q3 2024) to 5.10% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 12.21% | 2.13% | 0.06% | 0.49% | 5.10% |
| Q1 2026 | 12.54% | 1.97% | 0.03% | 0.26% | 4.94% |
| Q4 2025 | 11.88% | 1.49% | 0.00% | 0.00% | 5.04% |
| Q3 2025 | 12.44% | 1.80% | 0.00% | 0.00% | 4.87% |
| Q2 2025 | 12.20% | 1.87% | 0.10% | 0.86% | 4.77% |
| Q1 2025 | 12.07% | 1.46% | 0.39% | 3.43% | 4.48% |
| Q4 2024 | 11.94% | 1.37% | 0.48% | 4.30% | 4.48% |
| Q3 2024 | 11.89% | 1.38% | 0.40% | 3.46% | 4.22% |
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 |
|---|---|---|---|
| Keen Bank, N.A. (main office) | Waseca , MN | 56093 | $131.3M |
| Ellendale Branch | Ellendale , MN | 56026 | $25.5M |
| Owatonna Branch | Owatonna , MN | 55060 | $24.7M |
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 |
|---|---|---|---|
| July 11, 1997 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| July 1, 1997 | Structure Change | Acquired Bank of Ellendale Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
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 147 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 1 loans, $350K approved, $350K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2016 (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 Keen Bank, N.A.
What are Keen Bank, N.A.'s total assets?
As of the Q2 2026 filing, Keen Bank, N.A. reported total assets of $201.1 million in its FFIEC call report.
Where is Keen Bank, N.A. headquartered?
It is headquartered in Waseca, MN, United States.
When was Keen Bank, N.A. founded?
It was established in 1902, per the FDIC institution directory.
Is Keen Bank, N.A. FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #5270). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Keen Bank, N.A.?
Keen Bank, N.A.'s primary federal regulator is the OCC.
What is Keen Bank, N.A.'s CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 12.21% in its Q2 2026 call report, above regulatory requirements.
How many branches does Keen Bank, N.A. 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 Keen Bank, N.A.'s Texas Ratio?
Its Texas Ratio is 0.49% 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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