Security State Bank of Aitkin
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Data as of · sourced from FFIEC call reports. How we update
Security State Bank of Aitkin is an FDIC-insured commercial bank headquartered in Aitkin, MN, established in 1947 (FDIC certificate 16656), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $114.5M, up 2.1% from Q2 2025, the 158th largest of 221 banks headquartered in Minnesota. It reports no CET1 ratio; its Tier 1 leverage ratio was 10.79% at Q2 2026, above the 9% community bank leverage ratio requirement for being considered well capitalized.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 16656
- Headquarters
- Aitkin, MN
- Established
- 1947
- Total assets, Q2 2026
- $114.5M
- Assets vs Q2 2025
- +2.1%
- Tier 1 leverage ratio, Q2 2026
- 10.79%
- Domestic offices
- 4 FDIC institution directory, current count
- Routing number
- 091916527
- Latest call report
- Q2 2026, FFIEC 051 · Security State Bank of Aitkin call report
- Holding company
- SECURITY STATE AGENCY OF AITKIN, INC.
- Asset rank in state
- 158th of 221 in Minnesota
Problem loans are rising at Security State Bank of Aitkin. Its balance sheet stood at $114 million at June 30, 2026, up 2.1% from a year earlier; it is based in Aitkin, Minnesota. Loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 2.24% of loans from 0.00% a year earlier. It carries problem assets equal to 17.3% of the capital and reserves that would absorb them, 6.6 times the median of 2.6% for the 2,660 banks with $100 million to $1 billion in assets. On the other hand, it pays an average of 1.07% on its deposits and borrowings, lower than about three-quarters of banks its size (median 1.80%).
Its securities portfolio is underwater by $5.7 million, an amount equal to 47% of Tier 1 capital. The commercial and industrial book ($12 million) is worsening: 11.38% of it is past due or on nonaccrual, up from 7.01% a year earlier. Costs are the weak spot: it spends about 73 cents to bring in each dollar of revenue, higher than about three-quarters of banks its size (median 61 cents).
As of June 30, 2026, Security State Bank of Aitkin reported a return on assets of 1.05%, a nonperforming-loan ratio of 2.24% and a Texas ratio of 17.31%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, Security State Bank of Aitkin is the 158th largest of the 221 banks headquartered in Minnesota. Quarter on quarter (Q1 2026 to Q2 2026), its total assets rose 4.2% to $114.5M, loans rose 4.6% and deposits rose 4.4%. Its loan book on June 30, 2026 was led by owner-occupied commercial real estate loans, at 40.6% of total loans, followed by commercial and industrial loans at 21.2%. Its 4 offices in the FDIC Summary of Deposits are in Aitkin, MN, Grand Marais, MN and Garrison, MN; its Aitkin 2 offices book 71% of its branch deposits. By the capital ratios in its Q2 2026 call report, Security State Bank of Aitkin meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- 402 Minnesota Ave N, Aitkin, MN 56431
- County
- Aitkin
- 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
- December 23, 1947
- Domestic offices
- 4 FDIC institution directory, current count
- Employees (FTE)
- 21
- Domestic deposits
- $106.7M
- Allowance for credit losses
- $1.1M
- Net charge-offs (YTD)
- $0
- Average total assets
- $111.0M
- Average total loans
- $54.8M
- Average interest-bearing deposits
- $67.4M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 2, 1948
- FDIC Cert
- 16656
- Fed RSSD
- 267652
- Website
- http://www.ssbmn.com →
- Parent Holding Company
- SECURITY STATE AGENCY OF AITKIN, INC. (RSSD 1125441)
Profitability
Q2 annualizedBalance 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. As a community bank leverage ratio filer, Security State Bank of Aitkin reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
Over the 12 quarters to Q2 2026, Security State Bank of Aitkin's total assets ran between $105.0M (Q2 2024) and $114.5M (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
$114.5M total assets against $112.1M; $108.2M total liabilities against $104.9M.
$56.0M net loans and leases against $49.2M; $106.7M total deposits against $103.4M.
$42.7M securities against $46.5M; $8.3M cash and balances due against $8.3M.
$1.3M total interest income against $1.3M; $278K total interest expense against $310K.
$1.0M net interest income against $1.0M.
$51K total noninterest income against $51K; $797K total noninterest expense against $837K.
No provision recorded in the last 12 quarters.
$292K net income against $253K.
1.05% return on assets against 0.91%; 3.82% net interest margin against 4.04%.
10.79% tier 1 leverage ratio against 12.37%.
Inside the full Security State Bank of Aitkin terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeSecurity State Bank of Aitkin rankings
Its closest position to the top of a national ranking is 237 of 3,640, for Texas Ratio; its furthest is 3,562 of 4,196, for total assets.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.76% (Q4 2025) to 1.19% (Q3 2025) and its net interest margin ran from 3.71% (Q1 2025) to 4.04% (Q2 2025).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 10.79% | 1.05% | 2.24% | 17.31% | 3.82% |
| Q1 2026 | 10.88% | 0.85% | 2.34% | 17.55% | 3.77% |
| Q4 2025 | 10.69% | 0.76% | 2.52% | 24.47% | 3.71% |
| Q3 2025 | 10.48% | 1.19% | 1.20% | 16.89% | 3.81% |
| Q2 2025 | 12.37% | 0.91% | 0.00% | 7.06% | 4.04% |
| Q1 2025 | 12.73% | 1.09% | 0.00% | 7.52% | 3.71% |
| Q4 2024 | 12.51% | 0.91% | 0.01% | 8.78% | 3.86% |
| Q3 2024 | 13.07% | 1.13% | 0.13% | 8.82% | 4.00% |
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 |
|---|---|---|---|
| Security State Bank of Aitkin (main office) | Aitkin , MN | 56431 | $74.2M |
| Grand Marais Branch | Grand Marais , MN | 55604 | $22.0M |
| Garrison Branch | Garrison , MN | 56450 | $9.4M |
| Paulbecks County Market Branch | Aitkin , MN | 56431 | $1.2M |
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 23, 2001 | Structure Change | Acquired Cook County State Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| June 22, 2001 | 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
- <0.1% of deposits in MN, rank 189 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 2 loans, $100K approved, $50K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2023 (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 Security State Bank of Aitkin
What are Security State Bank of Aitkin's total assets?
As of the Q2 2026 filing, Security State Bank of Aitkin reported total assets of $114.5 million in its FFIEC call report.
Where is Security State Bank of Aitkin headquartered?
It is headquartered in Aitkin, MN, United States.
When was Security State Bank of Aitkin founded?
It was established in 1947, per the FDIC institution directory.
Is Security State Bank of Aitkin FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #16656). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Security State Bank of Aitkin?
Security State Bank of Aitkin's primary federal regulator is the FDIC.
How many branches does Security State Bank of Aitkin 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 Security State Bank of Aitkin's Texas Ratio?
Its Texas Ratio is 17.31% 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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