Northwoods Bank of Minnesota: how it compares with its peers
Against 99 MN banks with half to twice its assets, Northwoods Bank of Minnesota's strongest measure in Q2 2026 is net interest margin (4.01% vs. a 4.05% peer median). Its weakest relative measure is assets per employee ($4.3M vs. $7.1M).
| Measure | Northwoods Bank of Minnesota | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 1.05% | 1.26% | Bottom third Ahead of 32% of peers |
| Net interest margin Annualized net interest income over earning assets. | 4.01% | 4.05% | Middle third Ahead of 47% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 73.69% | 61.21% | Bottom third Ahead of 14% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $4.3M | $7.1M | Bottom third Ahead of 3% of peers |
| Loans to deposits Net loans and leases over total deposits. | 61.27% | 79.75% | Context |
What it means for lending operations
Its efficiency ratio of 73.69% is above the 61.21% 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
- First Farmers & Merchants National Bank Fairmont, MN · $140M
- Valley Premier Bank Hawley, MN · $141M
- Citizens State Bank Norwood Young America Norwood Young America, MN · $141M
- Farmers and Merchants State Bank of Springfield Springfield, MN · $140M
- Security State Bank of Warroad Warroad, MN · $138M
- The First National Bank of Cokato Cokato, MN · $138M
Questions about Northwoods Bank of Minnesota
How big is Northwoods Bank of Minnesota?
Northwoods Bank of Minnesota, established in 1919, is headquartered in Park Rapids, MN. It reported $141M in total assets in its Q2 2026 FDIC call report and operates 4 offices.
What is Northwoods Bank of Minnesota's return on assets?
1.05% annualized in Q2 2026, against a 1.26% median for 99 MN banks with half to twice its assets, ahead of 32% of them.
What is Northwoods Bank of Minnesota's efficiency ratio?
73.69% in Q2 2026: it spent about 74 cents in noninterest expense for each dollar of revenue. The peer median is 61.21%, and lower is better.
Is Northwoods Bank of Minnesota growing its loans?
Net loans grew 3.6% over the year to Q2 2026, while deposits grew 3.1%.
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.