The First State Bank of Red Wing: how it compares with its peers
Against 85 MN banks with half to twice its assets, The First State Bank of Red Wing's strongest measure in Q2 2026 is assets per employee ($6.6M vs. a $7.2M peer median). Its weakest relative measure is efficiency ratio (100.78% vs. 61.21%).
| Measure | This bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | -0.02% | 1.27% | Bottom third Ahead of 4% of peers |
| Net interest margin Annualized net interest income over earning assets. | 2.66% | 4.07% | Bottom third Ahead of 4% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 100.78% | 61.21% | Bottom third Ahead of 0% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $6.6M | $7.2M | Middle third Ahead of 40% of peers |
| Loans to deposits Net loans and leases over total deposits. | 41.18% | 78.76% | Context |
What it means for lending operations
Its efficiency ratio of 100.78% 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
- The First National Bank of Gilbert Gilbert, MN · $86M
- Bank of Maple Plain Maple Plain, MN · $86M
- First Security Bank - Canby Canby, MN · $85M
- Vantage Bank Kent, MN · $85M
- Concorde Bank Blomkest, MN · $88M
Questions about The First State Bank of Red Wing
How big is The First State Bank of Red Wing?
The First State Bank of Red Wing, established in 1915, is headquartered in Red Wing, MN. It reported $86M in total assets in its Q2 2026 FDIC call report and operates 3 offices.
What is The First State Bank of Red Wing's return on assets?
-0.02% annualized in Q2 2026, against a 1.27% median for 85 MN banks with half to twice its assets, ahead of 4% of them.
What is The First State Bank of Red Wing's efficiency ratio?
100.78% in Q2 2026: it spent about 101 cents in noninterest expense for each dollar of revenue. The peer median is 61.21%, and lower is better.
Is The First State Bank of Red Wing growing its loans?
Net loans shrank 2.1% over the year to Q2 2026, while deposits grew 0.5%.
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.