Prime Security Bank
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Data as of · sourced from FFIEC call reports. How we update
Prime Security Bank is an FDIC-insured commercial bank headquartered in Karlstad, MN, established in 1925 (FDIC certificate 10971), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $154.5M, up 5.1% from Q2 2025, the 131st largest of 221 banks headquartered in Minnesota. Its CET1 capital ratio was 10.86% at Q2 2026, above regulatory requirements.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 10971
- Headquarters
- Karlstad, MN
- Established
- 1925
- Total assets, Q2 2026
- $154.5M
- Assets vs Q2 2025
- +5.1%
- CET1 ratio, Q2 2026
- 10.86%
- Domestic offices
- 3 FDIC institution directory, current count
- Routing number
- 091215587
- Holding company
- NORTH STATE BANCSHARES, INC.
- Asset rank in state
- 131st of 221 in Minnesota
Prime Security Bank pays more for its money than most banks of its size. Its balance sheet stood at $154 million at June 30, 2026, up 5.1% from a year earlier; it is based in Karlstad, Minnesota. It pays an average of 2.88% on its deposits and borrowings, higher than about 9 in 10 of the 2,660 banks with $100 million to $1 billion in assets (median 1.80%). It also holds common equity equal to 10.86% of its risk-weighted assets, lower than about 9 in 10 banks its size (median 15.12%).
Earnings fell sharply: quarterly net income of $209,000 was 46% below a year earlier. Over the same year, loans grew 10.3% and deposits grew 3.2%. Concentration is the risk to watch: it holds commercial real estate loans worth 4.9 times its capital, 4.1 times the median of 1.2 times for banks its size.
As of June 30, 2026, Prime Security Bank reported a CET1 capital ratio of 10.86%, a return on assets of 0.57%, a nonperforming-loan ratio of 0.52% and a Texas ratio of 15.20%. The figures come from its call report filed with the FFIEC.
Of the 221 banks headquartered in Minnesota, Prime Security Bank is the 131st largest by total assets at Q2 2026. Between Q1 2026 and Q2 2026, its total assets rose 3.9% to $154.5M, loans rose 4.9% and deposits rose 5.0%. The largest part of its loan book on June 30, 2026 was non-owner-occupied commercial real estate loans, at 31.9% of total loans, ahead of 1-4 family residential loans at 24.7%. Its 3 offices in the FDIC Summary of Deposits are in Shakopee, MN, Karlstad, MN and Eagan, MN; its Shakopee office books 48% of its branch deposits. Judged on its Q2 2026 call report, Prime Security Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 201 Main St N, Karlstad, MN 56732
- County
- Kittson
- 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
- June 5, 1925
- Former names
- Karlstad State Bank (1937-1995)
- Domestic offices
- 3 FDIC institution directory, current count
- Employees (FTE)
- 18
- Domestic deposits
- $131.3M
- Allowance for credit losses
- $796K
- Net charge-offs (YTD)
- $229K
- Average total assets
- $147.2M
- Average total loans
- $130.2M
- Average interest-bearing deposits
- $101.5M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 10971
- Fed RSSD
- 909756
- Website
- www.primesecurity.com →
- Parent Holding Company
- NORTH STATE BANCSHARES, INC. (RSSD 2130303)
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, Prime Security Bank's total assets ran between $133.7M (Q3 2024) and $154.5M (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
$154.5M total assets against $147.0M; $141.7M total liabilities against $134.6M.
$133.4M net loans and leases against $120.6M; $131.3M total deposits against $127.3M.
$3.2M securities against $3.6M; $13.1M cash and balances due against $17.6M.
$2.3M total interest income against $2.1M; $894K total interest expense against $884K.
$1.4M net interest income against $1.2M.
$71K total noninterest income against $78K; $1.2M total noninterest expense against $876K.
$0 provision for credit losses against $0.
$209K net income against $389K.
0.57% return on assets against 1.09%; 3.88% net interest margin against 3.61%.
10.86% CET1 capital ratio against 11.48%; 8.71% tier 1 leverage ratio against 8.80%.
Inside the full Prime Security 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 exceed 300% of total capital, the threshold at which the 2006 interagency guidance flags a bank for heightened supervisory scrutiny. CRE concentration has been the central stress vector for regional banks since 2023. 2006 Interagency CRE Concentration Guidance (SR 07-1).
Prime Security Bank rankings
Its closest position to the top of a national ranking is 306 of 3,640, for Texas Ratio; its furthest is 1,987 of 2,134, for CET1 ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.57% (Q2 2026) to 1.52% (Q1 2025) and its net interest margin ran from 3.40% (Q3 2024) to 3.88% (Q3 2025).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 10.86% | 0.57% | 0.52% | 15.20% | 3.88% |
| Q1 2026 | 11.56% | 1.51% | 0.00% | 10.15% | 3.85% |
| Q4 2025 | 11.37% | 0.99% | 0.43% | 12.25% | 3.74% |
| Q3 2025 | 11.47% | 1.35% | 0.44% | 11.62% | 3.88% |
| Q2 2025 | 11.48% | 1.09% | 0.45% | 11.13% | 3.61% |
| Q1 2025 | 10.56% | 1.52% | 0.45% | 11.68% | 3.54% |
| Q4 2024 | 10.56% | 1.01% | 0.47% | 14.98% | 3.69% |
| Q3 2024 | 10.82% | 0.92% | 1.23% | 15.65% | 3.40% |
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 |
|---|---|---|---|
| Shakopee Branch | Shakopee , MN | 55379 | $62.7M |
| Prime Security Bank (main office) | Karlstad , MN | 56732 | $42.1M |
| Eagan Branch | Eagan , MN | 55122 | $26.5M |
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, NORTH STATE BANCSHARES, INC., not the bank itself
- July 26, 2010, Federal Reserve: Written Agreement: North State Bancshares, Inc., Shakopee, Minnesota
- Period: Most recent institution action July 26, 2010. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- <0.1% of deposits in MN, rank 164 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 1 loans, $45K approved, $45K 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
- 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 Prime Security Bank
What are Prime Security Bank's total assets?
As of the Q2 2026 filing, Prime Security Bank reported total assets of $154.5 million in its FFIEC call report.
Where is Prime Security Bank headquartered?
It is headquartered in Karlstad, MN, United States.
When was Prime Security Bank founded?
It was established in 1925, per the FDIC institution directory.
Is Prime Security Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #10971). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Prime Security Bank?
Prime Security Bank's primary federal regulator is the FDIC.
What is Prime Security Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 10.86% in its Q2 2026 call report, above regulatory requirements.
How many branches does Prime Security Bank 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 Prime Security Bank's Texas Ratio?
Its Texas Ratio is 15.20% 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 Prime Security Bank previously called?
The charter now named Prime Security Bank has also operated as Karlstad State Bank (1937-1995), per FDIC structure-change records.
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