Grand Rapids State Bank: how it compares with its peers
Against 97 MN banks with half to twice its assets, Grand Rapids State Bank's strongest measure in Q2 2026 is net interest margin (5.43% vs. a 3.99% peer median). Its weakest relative measure is assets per employee ($6.5M vs. $7.5M).
| Measure | Grand Rapids State Bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 2.22% | 1.30% | Top third Ahead of 96% of peers |
| Net interest margin Annualized net interest income over earning assets. | 5.43% | 3.99% | Top third Ahead of 99% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 59.42% | 61.94% | Middle third Ahead of 61% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $6.5M | $7.5M | Bottom third Ahead of 33% of peers |
| Loans to deposits Net loans and leases over total deposits. | 60.14% | 77.55% | Context |
What it means for lending operations
Its efficiency ratio of 59.42% is better than the 61.94% peer median. Banks that already run lean usually find their next gains in loan growth: faster digital applications and fewer borrowers abandoning a slow document chase.
Banks closest in size
- Security Bank USA Bemidji, MN · $264M
- VisionBank Saint Louis Park, MN · $254M
- Union Bank and Trust Company Minneapolis, MN · $253M
- Drake Bank Saint Paul, MN · $247M
- Cornerstone State Bank Montgomery, MN · $247M
- First Farmers & Merchants National Bank Luverne, MN · $243M
Questions about Grand Rapids State Bank
How big is Grand Rapids State Bank?
Grand Rapids State Bank, established in 1914, is headquartered in Grand Rapids, MN. It reported $261M in total assets in its Q2 2026 FDIC call report and operates 2 offices.
What is Grand Rapids State Bank's return on assets?
2.22% annualized in Q2 2026, against a 1.30% median for 97 MN banks with half to twice its assets, ahead of 96% of them.
What is Grand Rapids State Bank's efficiency ratio?
59.42% in Q2 2026: it spent about 59 cents in noninterest expense for each dollar of revenue. The peer median is 61.94%, and lower is better.
Is Grand Rapids State Bank growing its loans?
Net loans shrank 6.6% over the year to Q2 2026, while deposits grew 10.5%.
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.