State Bank of Bellingham: how it compares with its peers
Against 46 MN banks with half to twice its assets, State Bank of Bellingham's strongest measure in Q2 2026 is assets per employee ($9.3M vs. a $7.0M peer median). Its weakest relative measure is net interest margin (2.09% vs. 3.91%).
| Measure | State Bank of Bellingham | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 0.22% | 1.27% | Bottom third Ahead of 13% of peers |
| Net interest margin Annualized net interest income over earning assets. | 2.09% | 3.91% | Bottom third Ahead of 0% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 88.64% | 63.31% | Bottom third Ahead of 13% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $9.3M | $7.0M | Top third Ahead of 85% of peers |
| Loans to deposits Net loans and leases over total deposits. | 58.08% | 67.35% | Context |
What it means for lending operations
Its efficiency ratio of 88.64% is above the 63.31% 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
- State Bank of Taunton Taunton, MN · $47M
- State Bank of Lake Park Lake Park, MN · $47M
- The First National Bank of McIntosh Mcintosh, MN · $47M
- Marshall County State Bank Newfolden, MN · $45M
- Farmers and Merchants State Bank of Alpha Alpha, MN · $47M
- Welcome State Bank Welcome, MN · $44M
Questions about State Bank of Bellingham
How big is State Bank of Bellingham?
State Bank of Bellingham, established in 1942, is headquartered in Bellingham, MN. It reported $46M in total assets in its Q2 2026 FDIC call report and operates 1 office.
What is State Bank of Bellingham's return on assets?
0.22% annualized in Q2 2026, against a 1.27% median for 46 MN banks with half to twice its assets, ahead of 13% of them.
What is State Bank of Bellingham's efficiency ratio?
88.64% in Q2 2026: it spent about 89 cents in noninterest expense for each dollar of revenue. The peer median is 63.31%, and lower is better.
Is State Bank of Bellingham growing its loans?
Net loans shrank 13.8% over the year to Q2 2026, while deposits shrank 5.5%.
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.