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Vergas State Bank, Financial Information

AboutVergas State Bank

 Address:
106 East Main Street
Vergas,MN
Otter Tail County,Minnesota
 Established:
Sep 1909
 Number of domestic offices:
1
Total assets$52M
Net income$0M
Net income,quarterly$0M
Total deposits$44M
Domestic deposits$44M
Equity capital$8M
ROA0.13%
ROAQ,quarterly-0.01%
ROA,pretax-0.01%
ROAQ,quarterly,pretax-0.15%
ROE0.9%
ROEQ,quarterly-0.05%
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.

Banking came to Vergas in 1903 and in 1904 the bank was operating under the name of Farmers State Bank. The bank closed during the depression in September of 1932. It reopened as Vergas State Bank in 1936 and has operated continuously in Otter Tail County since that time. Vergas State Bank is a locally owned, independent, community bank.

Since its inception, the bank’s primary mission has been to serve the banking needs of Vergas, as well as Otter Tail County and the southern portion of Becker County. This mission continues to be the primary driving force behind the bank today. The bank has built a reputation of conservative soundness that has served it well.

106 East Main Street
P.O. Box 67
Vergas, MN 56587
Phone: (218) 342-2481
Fax: (218) 342-2510

Historical Data