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State Bank of Richmond, Financial Information

About State Bank of Richmond

 Address:
22 Central Avenue
Richmond, MN
Stearns County, Minnesota
 Established:
Jun 1904
 Number of domestic offices:
1
Total assets$82M
Net income$1M
Net income, quarterly$0M
Total deposits$74M
Domestic deposits$74M
Equity capital$8M
ROA0.87%
ROAQ, quarterly0.93%
ROA, pretax0.93%
ROAQ, quarterly, pretax0.81%
ROE6.51%
ROEQ, quarterly7.59%
UpdatedApr 11, 2013

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.

The State Bank of Richmond, Richmond, Minnesota, was organized June 6, 1904. The original bank building was located on the northwest corner of Central Avenue and Main Street where present building was built in 1971. A later addition was built in 1993 to accommodate for rapid growth in the area.

During the difficult Depression years, the State Bank of Richmond adapted well to the changes and modifications needed to continue operating and growing. Prior to 1934, Richmond had two banks, the American State Bank and the State Bank of Richmond. When the American State Bank had difficulties, an agreement was made to liquidate and sell their assets and liabilities to the State Bank of Richmond for one dollar.

After celebrating centennial anniversary in June, 2004, the bank continue to focus on the goal to provide personal quality service to its customers and community.

State Bank of Richmond
22 Central Ave S.
P.O. Box 519
Richmond, MN 56368
Phone: 320-597-2145
Fax Number: 320-597-3001

Historical Data