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First State Bank Southwest, Financial Information

AboutFirst State Bank Southwest

 Address:
202 Second Street Southeast
Pipestone,MN
Pipestone County,Minnesota
 Established:
Jan 1903
 Number of domestic offices:
5
Agriculture bank
Total assets$318M
Net income$6M
Net income,quarterly$1M
Total deposits$253M
Domestic deposits$253M
Equity capital$37M
ROA1.89%
ROAQ,quarterly1.61%
ROA,pretax1.61%
ROAQ,quarterly,pretax1.61%
ROE16.22%
ROEQ,quarterly13.76%
UpdatedMay 20, 2021

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 First State Bank Southwest was chartered in 1903 and now has offices in six locations to help service its customers in southwest Minnesota.

A branch office was opened in Worthington, Minnesota in January 1984. Due to excellent growth, the building was remodeled several times, but eventually a larger facility was needed. It was decided to build a new bank at a new location at 1433 Oxford Street in Worthington.

In October 1999, an office was opened in Pipestone, Minnesota. The charter was moved to Pipestone, thus constituting the need to change the name. Effective October 11, 1999, the bank became the First State Bank of Pipestone, Rushmore, and Worthington.

On January 26th, 2000, First State Bank Southwest opened another office in Worthington. To reflect the bank's rapidly growing presence in southwest Minnesota, the name was changed to First State Bank Southwest in May 2001. First State Bank Southwest has since opened new offices in Edgerton and Leota as well.

Worthington office
Phone: (507) 376-9747
Address
1433 Oxford Street
Mailing Address
P.O. Box 725
Worthington, MN 56187

Historical Data