Ultima Bank Minnesota: how it compares with its peers
Against 90 MN banks with half to twice its assets, Ultima Bank Minnesota's strongest measure in Q2 2026 is net interest margin (5.09% vs. a 3.96% peer median). Its weakest relative measure is assets per employee ($6.1M vs. $7.5M).
| Measure | Ultima Bank Minnesota | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 1.76% | 1.33% | Top third Ahead of 80% of peers |
| Net interest margin Annualized net interest income over earning assets. | 5.09% | 3.96% | Top third Ahead of 97% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 58.09% | 61.67% | Middle third Ahead of 61% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $6.1M | $7.5M | Bottom third Ahead of 23% of peers |
| Loans to deposits Net loans and leases over total deposits. | 112.25% | 80.80% | Context |
What it means for lending operations
Its efficiency ratio of 58.09% is better than the 61.67% peer median. Banks that already run lean usually find their next gains in loan growth: faster digital applications and fewer borrowers abandoning a slow document chase.
Banks closest in size
- Reliance Bank Faribault, MN · $334M
- Farmers and Merchants State Bank of Pierz Pierz, MN · $336M
- Woodlands National Bank Hinckley, MN · $331M
- VIKING BANK, NATIONAL ASSOCIATION Alexandria, MN · $330M
- The State Bank of Faribault Faribault, MN · $329M
- Citizens Bank & Trust Co. Hutchinson, MN · $329M
Questions about Ultima Bank Minnesota
How big is Ultima Bank Minnesota?
Ultima Bank Minnesota, established in 1904, is headquartered in Winger, MN. It reported $334M in total assets in its Q2 2026 FDIC call report and operates 6 offices.
What is Ultima Bank Minnesota's return on assets?
1.76% annualized in Q2 2026, against a 1.33% median for 90 MN banks with half to twice its assets, ahead of 80% of them.
What is Ultima Bank Minnesota's efficiency ratio?
58.09% in Q2 2026: it spent about 58 cents in noninterest expense for each dollar of revenue. The peer median is 61.67%, and lower is better.
Is Ultima Bank Minnesota growing its loans?
Net loans grew 7.4% over the year to Q2 2026, while deposits grew 6.4%.
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.