Northern State Bank of Thief River Falls
Also written as NSB of Thief River Falls
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Data as of · sourced from FFIEC call reports. How we update
Northern State Bank of Thief River Falls is an FDIC-insured commercial bank headquartered in Thief River Falls, MN, established in 1935 (FDIC certificate 15286), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $550.0M, up 19.2% from Q2 2025, the 44th largest of 221 banks headquartered in Minnesota. Its CET1 capital ratio was 24.96% 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
- 15286
- Headquarters
- Thief River Falls, MN
- Established
- 1935
- Total assets, Q2 2026
- $550.0M
- Assets vs Q2 2025
- +19.2%
- CET1 ratio, Q2 2026
- 24.96%
- Domestic offices
- 3 FDIC institution directory, current count
- Routing number
- 091216146
- Latest call report
- Q2 2026, FFIEC 051 · Northern State Bank of Thief River Falls call report
- Holding company
- GATO HOLDINGS, INC.
- Asset rank in state
- 44th of 221 in Minnesota
Northern State Bank of Thief River Falls, based in Thief River Falls, Minnesota, reported $550 million in assets at June 30, 2026, up 19.2% from a year earlier. It keeps 2.70 cents of net interest income on every dollar of earning assets, lower than about 9 in 10 of the 2,627 banks with $100 million to $1 billion in assets (median 3.96 cents). On the other hand, it holds commercial real estate loans equal to only 22% of its capital, a small fraction of the median of 1.2 times for banks its size.
Earnings jumped: net income for the quarter was $1.5 million, 67% above the same quarter a year earlier. Over the same year, loans shrank 1.5% and deposits grew 21.4%. Funding is the softer spot: it pays an average of 2.28% on its deposits and borrowings, higher than about three-quarters of banks its size (median 1.80%).
As of June 30, 2026, Northern State Bank of Thief River Falls reported a CET1 capital ratio of 24.96%, a return on assets of 1.19%, a nonperforming-loan ratio of 0.57% and a Texas ratio of 2.32%. The figures come from its call report filed with the FFIEC.
Of the 221 banks headquartered in Minnesota, Northern State Bank of Thief River Falls is the 44th largest by total assets at Q2 2026. Quarter on quarter (Q1 2026 to Q2 2026), its total assets rose 14.1% to $550.0M, loans rose 2.6% and deposits rose 15.4%. The largest part of its loan book on June 30, 2026 was 1-4 family residential loans, at 23.1% of total loans, ahead of owner-occupied commercial real estate loans at 20.0%. The FDIC Summary of Deposits lists 3 offices for it, in Thief River Falls, MN. Judged on its Q2 2026 call report, Northern State Bank of Thief River Falls meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 201 3rd St E, Thief River Falls, MN 56701
- County
- Pennington
- 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
- August 24, 1935
- Domestic offices
- 3 FDIC institution directory, current count
- Employees (FTE)
- 48
- Domestic deposits
- $499.3M
- Allowance for credit losses
- $2.7M
- Net charge-offs (YTD)
- $0
- Average total assets
- $499.9M
- Average total loans
- $191.4M
- Average interest-bearing deposits
- $396.6M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- October 2, 1935
- FDIC Cert
- 15286
- Fed RSSD
- 188056
- Website
- www.nsbtrf.com →
- Parent Holding Company
- GATO HOLDINGS, INC. (RSSD 1907106)
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
From Q3 2023 to Q2 2026, Northern State Bank of Thief River Falls's total assets ranged from $440.0M (Q3 2024) to $550.0M (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
$550.0M total assets against $461.5M; $501.0M total liabilities against $413.0M.
$193.2M net loans and leases against $196.1M; $499.3M total deposits against $411.4M.
$141.9M securities against $112.8M; $206.9M cash and balances due against $146.4M.
$5.9M total interest income against $5.6M; $2.6M total interest expense against $2.6M.
$3.3M net interest income against $3.0M.
$162K total noninterest income against $187K; $1.9M total noninterest expense against $1.7M.
$75K provision for credit losses against $75K.
$1.5M net income against $890K.
1.19% return on assets against 0.80%; 2.70% net interest margin against 2.76%.
24.96% CET1 capital ratio against 25.18%; 9.92% tier 1 leverage ratio against 10.79%.
Inside the full Northern State Bank of Thief River Falls terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeNorthern State Bank of Thief River Falls rankings
Its closest position to the top of a national ranking is 153 of 2,134, for CET1 ratio; its furthest is 2,127 of 3,640, for Texas Ratio.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from 0.80% (Q2 2025) to 1.49% (Q4 2024) and its net interest margin ran from 2.60% (Q1 2026) to 3.03% (Q3 2024).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 24.96% | 1.19% | 0.57% | 2.32% | 2.70% |
| Q1 2026 | 24.65% | 1.07% | 0.65% | 2.59% | 2.60% |
| Q4 2025 | 23.36% | 1.10% | 0.35% | 1.39% | 2.62% |
| Q3 2025 | 25.99% | 1.02% | 0.60% | 2.24% | 2.71% |
| Q2 2025 | 25.18% | 0.80% | 0.28% | 1.08% | 2.76% |
| Q1 2025 | 25.31% | 0.95% | 0.17% | 0.67% | 2.76% |
| Q4 2024 | 24.83% | 1.49% | 0.56% | 2.25% | 3.01% |
| Q3 2024 | 25.44% | 1.41% | 1.29% | 4.96% | 3.03% |
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 |
|---|---|---|---|
| Northern State Bank of Thief River Falls (main office) | Thief River Falls , MN | 56701 | $499.3M |
| First Federal Branch | Thief River Falls , MN | 56701 | $0 |
| Hugo's Supermarket Branch | Thief River Falls , MN | 56701 | $0 |
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 10, 1991 | Structure Change | Acquired First Federal Savings & Loan Association of Thief River Falls Failure, Government Assistance Provided for the acquired bank | FFIEC NIC |
| August 9, 1991 | 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
- 0.2% of deposits in MN, rank 57 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 1 loans, $125K approved, $125K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2024 (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 Northern State Bank of Thief River Falls
What are Northern State Bank of Thief River Falls's total assets?
As of the Q2 2026 filing, Northern State Bank of Thief River Falls reported total assets of $550.0 million in its FFIEC call report.
Where is Northern State Bank of Thief River Falls headquartered?
It is headquartered in Thief River Falls, MN, United States.
When was Northern State Bank of Thief River Falls founded?
It was established in 1935, per the FDIC institution directory.
Is Northern State Bank of Thief River Falls FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #15286). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Northern State Bank of Thief River Falls?
Northern State Bank of Thief River Falls's primary federal regulator is the FDIC.
What is Northern State Bank of Thief River Falls's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 24.96% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does Northern State Bank of Thief River Falls 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 Northern State Bank of Thief River Falls's Texas Ratio?
Its Texas Ratio is 2.32% 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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