Harwood State Bank, Financial Information

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.

Harwood State Bank is a locally owned bank that has satisfied the needs of our local communities for over 90 years.

The Articles of Association for Harwood State Bank were created on June 28th, 1919 and were forwarded to the Secretary of State of North Dakota. The principal place of business was to be Harwood, a town of 70 people. There were nine investors who purchased stock in the new corporation for a total of $18,000.00 of capital stock.

Harwood State Bank was one of the banks to survive that era with a strong capital ratio. The bank sold $7,000 more in stock in 1951 to raise the capital stock to $25,000. There have been two stock splits since that time. The first in 1959 and the second in 1980, and our capital stock is now $100,000. In 1959 the bank completed a new building project in Harwood.

In 1993, the stockholders of the bank transferred its assets to a new holding company. The holding company is called HSB Financial Corporation and continues to operate Harwood State Bank.

Address:
501 Dakota Avenue
PO Box 5
Harwood, ND 58042
Telephone: (701) 282-3518
Fax: (701) 281-2713

Hours:
Lobby:
Monday, Tuesday, Wednesday, Friday: 7:00 am to 4:00 pm
Thursday: 7:00 am to 6:00 pm
Drive Up:
Monday - Friday: 7:00 am to 6:00 pm