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First Independent Bank
Russell, MN · FDIC Certificate #1900 · Chartered 01/0
Total assets
$632.34M
Total deposits
$533.00M
Total equity
$61.23M
Net loans
$437.30M
Branches (offices)
12
Net income (YTD)
$4.83M
Rank: #1,493 of 4,213 U.S. banks by assets · #36 of 221 in Minnesota. Assets changed 15.7% and deposits 19.1% over the year to June 30, 2026.
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Key ratios
| Return on assets (YTD, annualized by FDIC) | 1.55% |
| Return on equity | 17.25% |
| Net interest margin (YTD) | 3.92% |
| Equity to assets | 9.68% |
| Tier 1 leverage ratio | 9.87% |
| Uninsured deposits (share of deposits) | 16.8% |
| Noncurrent loans (share of loans) | 0.14% |
| Net charge-offs (share of loans) | 0.02% |
| Loans to deposits | 82.0% |
| Real estate loans (share of loans) | 60.2% |
Loan mix
| Category | Amount | Share | |
|---|---|---|---|
| Real estate loans | $263.25M | 60.2% | |
| Commercial & industrial | $39.00M | 8.9% | |
| Consumer / individual | $7.65M | 1.8% | |
| Construction & development | $7.58M | 1.7% | |
| Agricultural | $117.18M | 26.8% |
Five-year trend (June snapshots)
| Period | Total assets | Deposits | Net income (year to date) | Equity / net worth |
|---|---|---|---|---|
| Jun 2022 | $472.46M | $434.48M | $2.87M | $36.82M |
| Jun 2023 | $468.91M | $394.90M | $3.00M | $39.47M |
| Jun 2024 | $517.35M | $412.65M | $2.11M | $39.92M |
| Jun 2025 | $546.54M | $447.63M | $3.27M | $44.07M |
| Jun 2026 | $632.34M | $533.00M | $4.83M | $61.23M |
Where its branch deposits sit (FDIC Summary of Deposits)
| State | Branch deposits | Offices |
|---|---|---|
| Minnesota | $533.00M | 12 |
Branch deposits are booked at the office that holds them, which is not always where the customer lives. Total across all offices: $533.00M.
Similar-sized banks
The Bank Of Marion ($634.07M) · Delta Bank ($631.97M)
Source: FDIC BankFind - Call Report and institution data as of June 30, 2026; branch deposits from the FDIC Summary of Deposits (June 30, 2026). See methodology.
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