Perennial Bank
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Data as of · sourced from FFIEC call reports. How we update
Perennial Bank is an FDIC-insured commercial bank headquartered in Darwin, MN, established in 1914 (FDIC certificate 1413), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $158.1M, up 6.5% from Q2 2025, the 130th largest of 221 banks headquartered in Minnesota. Its CET1 capital ratio was 23.66% 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
- 1413
- Headquarters
- Darwin, MN
- Established
- 1914
- Total assets, Q2 2026
- $158.1M
- Assets vs Q2 2025
- +6.5%
- CET1 ratio, Q2 2026
- 23.66%
- Domestic offices
- 4 FDIC institution directory, current count
- Routing number
- 091911302
- Holding company
- DARWIN BANCSHARES, INC.
- Asset rank in state
- 130th of 221 in Minnesota
Problem loans are rising at Perennial Bank. Its balance sheet stood at $158 million at June 30, 2026, up 6.5% from a year earlier; it is based in Darwin, Minnesota. Loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 1.36% of loans from 0.36% a year earlier. It keeps 3.03 cents of net interest income on every dollar of earning assets, lower than about 9 in 10 of the 2,660 banks with $100 million to $1 billion in assets (median 3.95 cents). On the other hand, it holds commercial real estate loans equal to only 32% of its capital, a small fraction of the median of 1.2 times for banks its size.
The commercial and industrial book ($8.4 million) is worsening: 5.97% of it is past due or on nonaccrual, up from 4.66% a year earlier. Net income for the quarter rose 11% from a year earlier, to $396,000. Where it has less room is capital: it funds 9.48% of its assets with Tier 1 capital, lower than about three-quarters of banks its size (median 10.99%).
As of June 30, 2026, Perennial Bank reported a CET1 capital ratio of 23.66%, a return on assets of 0.99%, a nonperforming-loan ratio of 1.36% and a Texas ratio of 6.51%. The figures come from its call report filed with the FFIEC.
Of the 221 banks headquartered in Minnesota, Perennial Bank is the 130th largest by total assets at Q2 2026. Between Q1 2026 and Q2 2026, its total assets rose 1.4% to $158.1M, loans rose 5.8% and deposits rose 1.2%. The largest part of its loan book on June 30, 2026 was 1-4 family residential loans, at 48.8% of total loans, ahead of commercial and industrial loans at 12.8%. The FDIC Summary of Deposits lists 4 offices for it, in 4 cities in MN; its Darwin office books 32% of its branch deposits. Judged on its Q2 2026 call report, Perennial Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 318 N 1st St, Darwin, MN 55324
- County
- Meeker
- 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, 1914
- Domestic offices
- 4 FDIC institution directory, current count
- Employees (FTE)
- 18
- Domestic deposits
- $144.6M
- Allowance for credit losses
- $951K
- Net charge-offs (YTD)
- $6K
- Average total assets
- $160.5M
- Average total loans
- $62.3M
- Average interest-bearing deposits
- $97.7M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 1413
- Fed RSSD
- 344852
- Website
- www.perennialbank.com →
- Parent Holding Company
- DARWIN BANCSHARES, INC. (RSSD 1125571)
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, Perennial Bank's total assets ranged from $138.6M (Q3 2024) to $158.1M (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
$158.1M total assets against $148.5M; $145.4M total liabilities against $137.6M.
$64.5M net loans and leases against $60.5M; $144.6M total deposits against $136.7M.
$61.1M securities against $55.6M; $28.6M cash and balances due against $28.7M.
$1.6M total interest income against $1.4M; $439K total interest expense against $412K.
$1.1M net interest income against $1.0M.
$91K total noninterest income against $84K; $730K total noninterest expense against $683K.
$75K provision for credit losses against $45K.
$396K net income against $358K.
0.99% return on assets against 0.98%; 3.03% net interest margin against 2.95%.
23.66% CET1 capital ratio against 22.42%; 9.48% tier 1 leverage ratio against 9.83%.
Inside the full Perennial Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freePerennial Bank rankings
Its closest position to the top of a national ranking is 194 of 2,134, for CET1 ratio; its furthest is 3,234 of 4,196, for total assets.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.86% (Q3 2024) to 1.05% (Q3 2025) and its net interest margin ran from 2.76% (Q3 2024) to 3.03% (Q4 2025).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 23.66% | 0.99% | 1.36% | 6.51% | 3.03% |
| Q1 2026 | 24.18% | 0.97% | 0.90% | 4.29% | 2.93% |
| Q4 2025 | 22.96% | 0.89% | 0.66% | 3.09% | 3.03% |
| Q3 2025 | 22.67% | 1.05% | 0.89% | 4.38% | 2.96% |
| Q2 2025 | 22.42% | 0.98% | 0.36% | 1.89% | 2.95% |
| Q1 2025 | 23.11% | 0.94% | 0.57% | 3.09% | 2.78% |
| Q4 2024 | 22.93% | 0.92% | 0.38% | 2.20% | 2.88% |
| Q3 2024 | 23.10% | 0.86% | 0.77% | 4.04% | 2.76% |
Swipe the table sideways to see every column.
Branch Network
View all 4 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 |
|---|---|---|---|
| Perennial Bank (main office) | Darwin , MN | 55324 | $46.9M |
| Paynesville Br | Paynesville , MN | 56362 | $46.5M |
| Winthrop Br | Winthrop , MN | 55396 | $26.3M |
| Dassel Branch | Dassel , MN | 55325 | $24.9M |
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 |
|---|---|---|---|
| January 13, 2016 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| January 13, 2016 | Structure Change | Acquired Winthrop State Bank 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 158 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 4 applications, 4 loans originated, $650K originated, across 1 states
- Period: Calendar year 2023. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 3 loans, $768K approved, $256K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2022 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, 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 Perennial Bank
What are Perennial Bank's total assets?
As of the Q2 2026 filing, Perennial Bank reported total assets of $158.1 million in its FFIEC call report.
Where is Perennial Bank headquartered?
It is headquartered in Darwin, MN, United States.
When was Perennial Bank founded?
It was established in 1914, per the FDIC institution directory.
Is Perennial Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #1413). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Perennial Bank?
Perennial Bank's primary federal regulator is the FDIC.
What is Perennial Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 23.66% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does Perennial Bank operate?
It operates 4 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Perennial Bank's Texas Ratio?
Its Texas Ratio is 6.51% 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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