First State Bank and Trust: how it compares with its peers
Against 79 MN banks with half to twice its assets, First State Bank and Trust's strongest measure in Q2 2026 is return on assets (1.77% vs. a 1.35% peer median). Its weakest relative measure is assets per employee ($6.2M vs. $7.6M).
| Measure | First State Bank and Trust | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 1.77% | 1.35% | Top third Ahead of 81% of peers |
| Net interest margin Annualized net interest income over earning assets. | 3.55% | 3.99% | Bottom third Ahead of 28% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 66.40% | 59.61% | Bottom third Ahead of 30% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $6.2M | $7.6M | Bottom third Ahead of 19% of peers |
| Loans to deposits Net loans and leases over total deposits. | 71.56% | 84.08% | Context |
What it means for lending operations
Its efficiency ratio of 66.40% is above the 59.61% peer median: it spends more to earn each dollar of revenue than most banks its size. Staff time on manual borrower verification (collecting pay stubs, bank statements, and employment letters, then re-keying them) is one of the larger controllable costs behind that number.
Banks closest in size
- Eagle Rock Bank Rochester, MN · $508M
- First Farmers & Merchants Bank Cannon Falls, MN · $486M
- American National Bank of Minnesota Baxter, MN · $473M
- EntreBank Bloomington, MN · $527M
- Northview Bank Sandstone, MN · $470M
- Lake Elmo Bank Lake Elmo, MN · $530M
Questions about First State Bank and Trust
How big is First State Bank and Trust?
First State Bank and Trust, established in 1914, is headquartered in Bayport, MN. It reported $499M in total assets in its Q2 2026 FDIC call report and operates 4 offices.
What is First State Bank and Trust's return on assets?
1.77% annualized in Q2 2026, against a 1.35% median for 79 MN banks with half to twice its assets, ahead of 81% of them.
What is First State Bank and Trust's efficiency ratio?
66.40% in Q2 2026: it spent about 66 cents in noninterest expense for each dollar of revenue. The peer median is 59.61%, and lower is better.
Is First State Bank and Trust growing its loans?
Net loans grew 4.8% over the year to Q2 2026, while deposits grew 25.4%.
Sources and method
Figures are from the FDIC’s public call report data for the quarter ending 06/30/2026, via FDIC BankFind. Return on assets and net interest margin are annualized year to date. Peers are MN banks with half to twice its assets in the same quarter, excluding this bank. The page refreshes daily, so new quarters appear as banks file. Compare another bank or see every Minnesota bank ranked.