Progrowth Bank
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Data as of · sourced from FFIEC call reports. How we update
Progrowth Bank is an FDIC-insured commercial bank headquartered in Nicollet, MN, established in 1903 (FDIC certificate 8536), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $364.8M, down 12.3% from Q2 2025, the 71st largest of 221 banks headquartered in Minnesota. Its CET1 capital ratio was 20.01% 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
- 8536
- Headquarters
- Nicollet, MN
- Established
- 1903
- Total assets, Q2 2026
- $364.8M
- Assets vs Q2 2025
- -12.3%
- CET1 ratio, Q2 2026
- 20.01%
- Domestic offices
- 4 FDIC institution directory, current count
- Routing number
- 091908768
- Holding company
- PROGRESSIVE GROWTH CORP.
- Asset rank in state
- 71st of 221 in Minnesota
Progrowth Bank spends more to run itself than most banks of its size. Based in Nicollet, Minnesota, it had $365 million in assets at June 30, 2026, down 12.3% from a year earlier. It earns about $0.05 a year on every $100 of assets, a small fraction of the median of $1.28 for the 2,660 banks with $100 million to $1 billion in assets. It also spends about 93 cents to bring in each dollar of revenue, higher than about 9 in 10 banks its size (median 61 cents).
Earnings fell sharply: quarterly net income of $44,000 was 90% below a year earlier. Paper losses on its bond portfolio are shrinking: unrealized losses of $9.3 million equal 35% of Tier 1 capital, down from 54% a year earlier. Its margin is thin by comparison: it keeps 1.79 cents of net interest income on every dollar of earning assets, about half the median of 3.95 cents for banks its size.
As of June 30, 2026, Progrowth Bank reported a CET1 capital ratio of 20.01%, a return on assets of 0.05%, a nonperforming-loan ratio of 0.00% and a Texas ratio of 0.00%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, Progrowth Bank is the 71st largest of the 221 banks headquartered in Minnesota. Between Q1 2026 and Q2 2026, its total assets fell 1.7% to $364.8M, loans fell 0.9% and deposits fell 2.0%. Its loan book on June 30, 2026 was led by 1-4 family residential loans, at 29.0% of total loans, followed by farmland and other real estate loans at 28.3%. The FDIC Summary of Deposits lists 3 offices for it, in Gaylord, MN, Nicollet, MN and Mankato, MN; its Gaylord office books 40% of its branch deposits. By the capital ratios in its Q2 2026 call report, Progrowth Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 703 3rd St, Nicollet, MN 56074
- County
- Nicollet
- Metro Area
- Mankato, 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, 1903
- Domestic offices
- 4 FDIC institution directory, current count
- Employees (FTE)
- 34
- Domestic deposits
- $327.1M
- Allowance for credit losses
- $659K
- Net charge-offs (YTD)
- -$3K
- Average total assets
- $374.9M
- Average total loans
- $81.5M
- Average interest-bearing deposits
- $303.1M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 8536
- Fed RSSD
- 751254
- SEC CIK
- 1853188 → filed by PROGRESSIVE GROWTH CORP.
- Website
- http://www.progrowth.com →
- Parent Holding Company
- PROGRESSIVE GROWTH CORP. (RSSD 1126877)
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
Progrowth Bank's total assets moved between a low of $351.2M (Q3 2023) and a high of $417.3M (Q3 2025) from Q3 2023 to Q2 2026, and it earned a profit in 11 of the 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$364.8M total assets against $415.9M; $344.9M total liabilities against $398.4M.
$80.5M net loans and leases against $81.2M; $327.1M total deposits against $335.5M.
$263.2M securities against $317.5M; $12.0M cash and balances due against $5.7M.
$4.4M total interest income against $5.2M; $2.7M total interest expense against $3.2M.
$1.6M net interest income against $2.0M.
$124K total noninterest income against $127K; $1.7M total noninterest expense against $1.5M.
No provision recorded in the last 12 quarters.
$44K net income against $451K.
0.05% return on assets against 0.43%; 1.79% net interest margin against 1.92%.
20.01% CET1 capital ratio against 17.64%; 7.09% tier 1 leverage ratio against 7.12%.
Inside the full Progrowth Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeProgrowth Bank rankings
Its closest position to the top of a national ranking is 335 of 2,134, for CET1 ratio; its furthest is 3,510 of 3,606, for efficiency ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from -2.11% (Q1 2026) to 0.76% (Q3 2024) and its net interest margin ran from 1.29% (Q1 2026) to 2.28% (Q3 2024).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 20.01% | 0.05% | 0.00% | 0.00% | 1.79% |
| Q1 2026 | 19.36% | -2.11% | 0.00% | 0.00% | 1.29% |
| Q4 2025 | 18.47% | 0.07% | 0.00% | 0.00% | 1.81% |
| Q3 2025 | 19.18% | 0.40% | 0.00% | 0.00% | 1.93% |
| Q2 2025 | 17.64% | 0.43% | 0.00% | 0.01% | 1.92% |
| Q1 2025 | 20.28% | 0.51% | 0.00% | 0.02% | 2.14% |
| Q4 2024 | 20.02% | 0.10% | 0.01% | 0.03% | 2.26% |
| Q3 2024 | 21.25% | 0.76% | 0.01% | 0.04% | 2.28% |
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 |
|---|---|---|---|
| Progrowth Bank Branch | Gaylord , MN | 55334 | $131.0M |
| Progrowth Bank (main office) | Nicollet , MN | 56074 | $103.3M |
| Progrowth Bank Branch | Mankato , MN | 56001 | $92.8M |
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 |
|---|---|---|---|
| June 28, 2002 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| June 28, 2002 | Structure Change | Acquired Citizens State Bank of Gaylord 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.
- Enforcement actions
- 1 against the institution (Federal Reserve)
- November 15, 2010, Federal Reserve: Written Agreement: Progressive Growth Corp., Gaylord, Minnesota
- Period: Most recent institution action November 15, 2010. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- 0.1% of deposits in MN, rank 95 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 7 applications, 7 loans originated, $955K originated, across 1 states
- Period: Calendar year 2023. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 4 loans, $1.0M approved, $261K 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 Progrowth Bank
What are Progrowth Bank's total assets?
As of the Q2 2026 filing, Progrowth Bank reported total assets of $364.8 million in its FFIEC call report.
Where is Progrowth Bank headquartered?
It is headquartered in Nicollet, MN, United States.
When was Progrowth Bank founded?
It was established in 1903, per the FDIC institution directory.
Is Progrowth Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #8536). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Progrowth Bank?
Progrowth Bank's primary federal regulator is the FDIC.
What is Progrowth Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 20.01% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does Progrowth 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 Progrowth Bank's Texas Ratio?
Its Texas Ratio is 0.00% 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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