The Bank of Elk River: how it compares with its peers
Against 60 MN banks with half to twice its assets, The Bank of Elk River's strongest measure in Q2 2026 is assets per employee ($7.6M vs. a $8.0M peer median). Its weakest relative measure is return on assets (0.83% vs. 1.35%).
| Measure | The Bank of Elk River | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 0.83% | 1.35% | Bottom third Ahead of 15% of peers |
| Net interest margin Annualized net interest income over earning assets. | 3.55% | 3.92% | Bottom third Ahead of 28% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 69.71% | 58.88% | Bottom third Ahead of 20% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $7.6M | $8.0M | Middle third Ahead of 42% of peers |
| Loans to deposits Net loans and leases over total deposits. | 68.40% | 86.62% | Context |
What it means for lending operations
Its efficiency ratio of 69.71% is above the 58.88% 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
- FM Bank Waseca, MN · $738M
- Platinum Bank Oakdale, MN · $739M
- HomeTown Bank Carver, MN · $692M
- Premier Bank Minnesota Hastings, MN · $691M
- Alliance Bank Lake City, MN · $756M
- Highland Bank Saint Paul, MN · $776M
Questions about The Bank of Elk River
How big is The Bank of Elk River?
The Bank of Elk River, established in 1885, is headquartered in Elk River, MN. It reported $719M in total assets in its Q2 2026 FDIC call report and operates 5 offices.
What is The Bank of Elk River's return on assets?
0.83% annualized in Q2 2026, against a 1.35% median for 60 MN banks with half to twice its assets, ahead of 15% of them.
What is The Bank of Elk River's efficiency ratio?
69.71% in Q2 2026: it spent about 70 cents in noninterest expense for each dollar of revenue. The peer median is 58.88%, and lower is better.
Is The Bank of Elk River growing its loans?
Net loans grew 8.2% over the year to Q2 2026, while deposits grew 0.8%.
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.