Vermillion State Bank
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Data as of · sourced from FFIEC call reports. How we update
Vermillion State Bank is an FDIC-insured commercial bank headquartered in Vermillion, MN, established in 1918 (FDIC certificate 10214), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $931.4M, up 5.3% from Q2 2025, the 21st largest of 221 banks headquartered in Minnesota. It reports no CET1 ratio; its Tier 1 leverage ratio was 13.40% 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
- 10214
- Headquarters
- Vermillion, MN
- Established
- 1918
- Total assets, Q2 2026
- $931.4M
- Assets vs Q2 2025
- +5.3%
- Tier 1 leverage ratio, Q2 2026
- 13.40%
- Domestic offices
- 6 FDIC institution directory, current count
- Routing number
- 091914370
- Latest call report
- Q2 2026, FFIEC 041 · Vermillion State Bank call report
- Holding company
- VERMILLION BANCSHARES, INC.
- Asset rank in state
- 21st of 221 in Minnesota
Vermillion State Bank is one of the more profitable banks of its size. It reported $931 million in assets at June 30, 2026, up 5.3% from a year earlier. It earns about $2.60 a year on every $100 of assets, about double the median of $1.28 for the 2,660 banks with $100 million to $1 billion in assets. It also spends about 22 cents to bring in each dollar of revenue, about a third the median of 61 cents for banks its size.
Net income for the quarter rose 13% from a year earlier, to $6.0 million. Its margin is thin by comparison: it keeps 3.29 cents of net interest income on every dollar of earning assets, lower than about three-quarters of banks its size (median 3.95 cents).
As of June 30, 2026, Vermillion State Bank reported a return on assets of 2.60%, a nonperforming-loan ratio of 0.24% and a Texas ratio of 1.43%. The figures come from its call report filed with the FFIEC.
Of the 221 banks headquartered in Minnesota, Vermillion State Bank is the 21st largest by total assets at Q2 2026. Quarter on quarter (Q1 2026 to Q2 2026), its total assets fell 0.6% to $931.4M, loans rose 2.7% and deposits fell 0.8%. Its loan book on June 30, 2026 was led by 1-4 family residential loans, at 36.3% of total loans, followed by owner-occupied commercial real estate loans at 22.1%. The FDIC Summary of Deposits lists 6 offices for it, in 4 cities in MN; its Vermillion office books 62% of its branch deposits. On its Q2 2026 call report, Vermillion State Bank meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- 107 Main St E, Vermillion, MN 55085
- County
- Dakota
- Metro Area
- Minneapolis-St. Paul-Bloomington, MN-WI
- 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 041
- Established
- August 10, 1918
- Domestic offices
- 6 FDIC institution directory, current count
- Employees (FTE)
- 33
- Domestic deposits
- $806.6M
- Allowance for credit losses
- $6.6M
- Net charge-offs (YTD)
- -$251K
- Average total assets
- $928.1M
- Average total loans
- $419.1M
- Average interest-bearing deposits
- $679.9M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 10214
- Fed RSSD
- 208057
- Website
- WWW.VERMILLIONBANK.COM →
- Parent Holding Company
- VERMILLION BANCSHARES, INC. (RSSD 1128581)
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, Vermillion State Bank reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
Vermillion State Bank's total assets moved between a low of $804.5M (Q3 2023) and a high of $936.6M (Q1 2026) 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
$931.4M total assets against $884.4M; $809.8M total liabilities against $773.1M.
$417.2M net loans and leases against $402.1M; $806.6M total deposits against $769.6M.
$427.3M securities against $380.8M; $68.8M cash and balances due against $83.4M.
$11.8M total interest income against $11.5M; $4.4M total interest expense against $4.2M.
$7.4M net interest income against $7.3M.
$362K total noninterest income against $311K; $1.8M total noninterest expense against $2.2M.
No provision recorded in the last 12 quarters.
$6.0M net income against $5.3M.
2.60% return on assets against 2.46%; 3.29% net interest margin against 3.43%.
13.40% tier 1 leverage ratio against 12.78%.
Inside the full Vermillion State Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeVermillion State Bank rankings
Its closest position to the top of a national ranking is 17 of 3,606, for efficiency ratio; its furthest is 2,494 of 3,640, for Texas Ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 1.54% (Q4 2025) to 2.73% (Q3 2025) and its net interest margin ran from 3.01% (Q3 2024) to 3.49% (Q4 2025).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 13.40% | 2.60% | 0.24% | 1.43% | 3.29% |
| Q1 2026 | 13.11% | 2.53% | 0.31% | 1.65% | 3.26% |
| Q4 2025 | 12.74% | 1.54% | 0.34% | 1.78% | 3.49% |
| Q3 2025 | 12.77% | 2.73% | 0.29% | 1.65% | 3.47% |
| Q2 2025 | 12.78% | 2.46% | 0.08% | 0.98% | 3.43% |
| Q1 2025 | 13.07% | 2.48% | 0.00% | 0.70% | 3.27% |
| Q4 2024 | 12.39% | 1.64% | 0.18% | 1.42% | 3.23% |
| Q3 2024 | 13.50% | 2.29% | 0.22% | 1.37% | 3.01% |
Swipe the table sideways to see every column.
Branch Network
View all 6 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 |
|---|---|---|---|
| Vermillion State Bank (main office) | Vermillion , MN | 55085 | $500.4M |
| Hastings Branch | Hastings , MN | 55033 | $129.8M |
| Inver Grove Heights Branch | Inver Grove Heights , MN | 55076 | $70.2M |
| Rosemount Branch | Rosemount , MN | 55068 | $59.2M |
| Hastings Branch | Hastings , MN | 55033 | $36.5M |
| Miesville Branch | Hastings , MN | 55033 | $10.5M |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 0.3% of deposits in MN, rank 32 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 129 applications, 127 loans originated, $33.9M originated, across 7 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 1 loans, $225K approved, $225K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2016 (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 Vermillion State Bank
What are Vermillion State Bank's total assets?
As of the Q2 2026 filing, Vermillion State Bank reported total assets of $931.4 million in its FFIEC call report.
Where is Vermillion State Bank headquartered?
It is headquartered in Vermillion, MN, United States.
When was Vermillion State Bank founded?
It was established in 1918, per the FDIC institution directory.
Is Vermillion State Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #10214). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Vermillion State Bank?
Vermillion State Bank's primary federal regulator is the FDIC.
How many branches does Vermillion State Bank operate?
It operates 6 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Vermillion State Bank's Texas Ratio?
Its Texas Ratio is 1.43% 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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