First State Bank Minnesota, 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.

First State Bank Minnesota was establshed in 1893, with the forsight of 9 men from the area. The current bank building was built in 1914 by the firm Purcell and Elmslie and is in the National Register of Historic places. When built, the original bank building was the smallest and most inexpensive bank building built by Purcell and Elmslie, costing only $10,000.

In 1993, the bank expanded into a neighboring building which made the bank roughly twice the size, This added space for offices to be built, and also enlarged the lobby and waiting areas. The front entrance to the bank was also moved to the entrance of the neighboring building. The original entrance is not functional anymore, but is still intact in the front of the building. Also, in 1993 First State Bank Minnesota added a branch in Spring Valley, MN. A new building was built in Spring Valley and opened for business in 2002.

LeRoy Bank
102 West Main Street
PO Box 369
Leroy, MN 55951
Phone: 507-324-5260
Toll Free: 1-877-224-5260
Fax: 1-507-324-5337

Spring Valley
Hwy 16 & 63 North
PO Box 191
Spring Valley, MN 55975
Phone: 507.346.9836
Fax: 507.346.9838