First State Bank of Grove City, First State Bank Of Grove City

Location
Minnesota, Meeker County, Grove City
110 Atlantic Avenue West 56243, MN
Phone 320-857-2521

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First State Bank of Grove City

EstablishedDec 1907
Number of domestic offices1
Websitehttp://www.bankofgrovecity.com
Agriculture bank

About First State Bank of Grove City

First State Bank of Grove City was chartered under State of Minnesota law on December 7, 1907. Originally, 32 stockholders contributed a total of $15,000.00 for start up capital. In 1929, during difficult financial times, another bank in town, Farmers and Merchants State Bank, merged into First State Bank of Grove City.

During the agricultural crisis of the 1980s, the bank remained strong and continued to serve its customers while many other US banks failed. First State Bank of Grove City operated for many years in the middle of the block to the west from the present building location. The new facility was constructed in 1981 to better serve community.

Since the First State Bank of Grove City is locally owned and operated, the bank is able to promptly and personally provide the highest quality service to clients.

110 Atlantic Avenue West, PO Box 8
Grove City, MN 56243-0008
Telephone: 320-857-2521
Fax: 320-857-2577

Monday through Thursday
Lobby: 8:30 am - 3:00 pm
Drive up: 8:30 am - 4:00 pm
Friday
Lobby and Drive up: 8:30 am- 6:00 pm

Financial information

Total assets$24M
Net income$0M
Net income, quarterly$0M
Total deposits$18M
Domestic deposits$18M
Equity capital$5M
ROA1.58%
ROAQ, quarterly1.72%
ROA, pretax1.72%
ROAQ, quarterly, pretax1.72%
ROE7.06%
ROEQ, quarterly7.65%
UpdatedNov 09, 2017

Terms and Definitions

  • Domestic deposits
    The sum of all domestic deposits, including demand deposits, money market deposits and time deposits.
  • Equity capital
    Total equity capital (includes preferred and common stock, surplus and undivided profits).
  • ROA
    Return on assets, net income after taxes and extraordinary items (annualized) as a percent of average total assets.
  • ROE
    Return on equity, annualized net income as a percent of average equity on a consolidated basis.