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State Bank of Danvers, Financial Information

AboutState Bank of Danvers

 Address:
2010 Minnesota Ave
Benson,MN
Swift County,Minnesota
 Established:
Jul 1902
 Number of domestic offices:
1
Agriculture bank
Total assets$60M
Net income$1M
Net income,quarterly$0M
Total deposits$51M
Domestic deposits$51M
Equity capital$7M
ROA1.6%
ROAQ,quarterly1.56%
ROA,pretax1.56%
ROAQ,quarterly,pretax1.56%
ROE12.45%
ROEQ,quarterly12.14%
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.

In 1902, two years after the Village of Danvers was incorporated, the Bank of Danvers was opened. In 1907 the bank was chartered by the State of Minnesota and renamed the State Bank of Danvers.

By 1956 the bank reached a $1,500,000 deposit mark and outgrew their facilities. A modern one-story brick building was built and occupied by the bank in the fall of 1957. Again, in 1979, the bank moved to a new facility in Danvers, which now is the main office of the bank.

In July of 1999, the bank opened its new, branch facility in Benson geared to meet the technological challenges of the 21st century. July 16, 2002 marked a full century of continuous financial service to the community by four generations of the Connolly family.

Danvers Branch
State Bank of Danvers
One Bank Plaza
Danvers, MN 56231

Benson Branch
State Bank of Danvers
2010 Minnesota Avenue
Benson, MN 56215

Historical Data