First Bank Elk River: how it compares with its peers
Against 88 MN banks with half to twice its assets, First Bank Elk River's strongest measure in Q2 2026 is assets per employee ($8.4M vs. a $7.5M peer median). Its weakest relative measure is efficiency ratio (78.49% vs. 61.31%).
| Measure | First Bank Elk River | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 0.57% | 1.35% | Bottom third Ahead of 9% of peers |
| Net interest margin Annualized net interest income over earning assets. | 3.53% | 3.98% | Bottom third Ahead of 23% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 78.49% | 61.31% | Bottom third Ahead of 6% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $8.4M | $7.5M | Top third Ahead of 70% of peers |
| Loans to deposits Net loans and leases over total deposits. | 100.83% | 80.80% | Context |
What it means for lending operations
Its efficiency ratio of 78.49% is above the 61.31% 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
- ProGrowth Bank Nicollet, MN · $365M
- Heritage Bank National Association Spicer, MN · $361M
- North Star Bank Roseville, MN · $379M
- United Community Bank Perham, MN · $359M
- Pine Country Bank Little Falls, MN · $380M
- Harvest Bank Kimball, MN · $355M
Questions about First Bank Elk River
How big is First Bank Elk River?
First Bank Elk River, established in 1907, is headquartered in Elk River, MN. It reported $369M in total assets in its Q2 2026 FDIC call report and operates 4 offices.
What is First Bank Elk River's return on assets?
0.57% annualized in Q2 2026, against a 1.35% median for 88 MN banks with half to twice its assets, ahead of 9% of them.
What is First Bank Elk River's efficiency ratio?
78.49% in Q2 2026: it spent about 78 cents in noninterest expense for each dollar of revenue. The peer median is 61.31%, and lower is better.
Is First Bank Elk River growing its loans?
Net loans grew 3.3% over the year to Q2 2026, while deposits shrank 1.0%.
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.