Safest Banks in Minnesota 2026
Minnesota has 225 FDIC-insured banks with an average Bank Health Score of 73/100 (B). The safest bank is Welcome State Bank with a score of 100/100.
Data from FDIC Q2 2024
Top 20 of 225 Banks in Minnesota
| # | Bank | City | Grade | Score | Tier 1 Capital | NPL Ratio |
|---|---|---|---|---|---|---|
| 1 | Welcome State Bank | Welcome | A | 100 | 18.84% | 0.02% |
| 2 | Lake Region Bank | New London | A | 99 | 23.38% | 0.04% |
| 3 | Security State Bank of Oklee | Oklee | A | 99 | 42.35% | 0.00% |
| 4 | First Security Bank-Hendrick | Hendricks | A | 99 | 27.71% | 0.00% |
| 5 | Ameriprise Bank FSB | Minneapolis | A | 99 | 34.51% | 0.15% |
| 6 | Marshall County State Bank | Newfolden | A | 99 | 60.71% | 0.00% |
| 7 | Pine Country Bank | Little Falls | A | 98 | 14.48% | 0.01% |
| 8 | First Security Bank Canby | Canby | A | 98 | 18.41% | 0.40% |
| 9 | First Nb of Mcintosh | Mcintosh | A | 98 | 53.94% | 0.26% |
| 10 | First Security Bk Sleepy Eye | Sleepy Eye | A | 98 | 34.10% | 0.29% |
| 11 | Triumph State Bank | Trimont | A | 97 | 16.00% | 0.01% |
| 12 | Progrowth Bank | Nicollet | A | 97 | 20.10% | 0.01% |
| 13 | Center National Bank | Litchfield | A | 96 | 16.92% | 0.01% |
| 14 | Farmers&Merchants Stb Spring | Springfield | A | 96 | 14.65% | 0.00% |
| 15 | Global Innovations Bank | Kiester | A | 96 | 22.54% | 0.17% |
| 16 | First Stb of le Center | Le Center | A | 96 | 14.42% | 0.22% |
| 17 | Liberty Bank Minnesota | Saint Cloud | A | 95 | 24.58% | 0.00% |
| 18 | State Bank of Chandler | Chandler | A | 95 | 16.43% | 0.00% |
| 19 | Citizens Stb of Waverly INC | Waverly | A | 95 | 16.61% | 0.00% |
| 20 | Produce State Bank | Hollandale | A | 94 | 21.66% | 1.05% |
Bank Health Scores for Minnesota are calculated from FDIC Call Report data including Tier 1 capital ratios, nonperforming loan ratios, liquidity ratios, and return on assets.
Frequently Asked Questions
Based on our Bank Health Score analysis of FDIC data, Welcome State Bank in Welcome is currently the safest bank in Minnesota with a score of 100/100 (Grade A).
Minnesota has 225 FDIC-insured banks with a combined $118.1B in total assets. The average Bank Health Score across the state is 73/100.
The Bank Health Score (0-100) is based on four FDIC-reported metrics: Tier 1 capital ratio (35% weight), nonperforming loan ratio (30%), liquidity ratio (25%), and return on assets (10%). Higher scores indicate stronger financial health.
Bank Health Scores are computed from quarterly FDIC Call Report data. Tier 1 capital ratio (35%), nonperforming loan ratio (30%), liquidity ratio (25%), and return on assets (10%).