Heritage Bank Minnesota: how it compares with its peers
Against 94 MN banks with half to twice its assets, Heritage Bank Minnesota's strongest measure in Q2 2026 is assets per employee ($6.4M vs. a $7.3M peer median). Its weakest relative measure is efficiency ratio (74.43% vs. 61.04%).
| Measure | Heritage Bank Minnesota | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 0.85% | 1.25% | Bottom third Ahead of 17% of peers |
| Net interest margin Annualized net interest income over earning assets. | 3.85% | 4.12% | Middle third Ahead of 35% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 74.43% | 61.04% | Bottom third Ahead of 11% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $6.4M | $7.3M | Middle third Ahead of 36% of peers |
| Loans to deposits Net loans and leases over total deposits. | 89.09% | 79.00% | Context |
What it means for lending operations
Its efficiency ratio of 74.43% is above the 61.04% 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
- Key Community Bank Inver Grove Heights, MN · $121M
- Global Innovations Bank Kiester, MN · $120M
- State Bank of New Richland New Richland, MN · $124M
- First State Bank of Bigfork Bigfork, MN · $117M
- Mid-Central National Bank Wadena, MN · $117M
- COMMUNITY FIRST BANK Menahga, MN · $126M
Questions about Heritage Bank Minnesota
How big is Heritage Bank Minnesota?
Heritage Bank Minnesota, established in 1930, is headquartered in West Concord, MN. It reported $121M in total assets in its Q2 2026 FDIC call report and operates 3 offices.
What is Heritage Bank Minnesota's return on assets?
0.85% annualized in Q2 2026, against a 1.25% median for 94 MN banks with half to twice its assets, ahead of 17% of them.
What is Heritage Bank Minnesota's efficiency ratio?
74.43% in Q2 2026: it spent about 74 cents in noninterest expense for each dollar of revenue. The peer median is 61.04%, and lower is better.
Is Heritage Bank Minnesota growing its loans?
Net loans grew 12.5% over the year to Q2 2026, while deposits grew 7.6%.
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.