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This institution is no longer active

Operations ceased on April 1, 2002. CRA examination history below reflects the period it was active.

MOUNTAIN IRON FIRST STATE BANK

MOUNTAIN IRON, MN · Supervised by FDIC

Est. 1916FDIC #1,928RSSD: FDIC-1928
Part ofMESABA BANCSHARES INC→ View all charters
Outstanding Same

Current rating · Exam: December 1999

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At a Glance

Community Lending (CRA)

Outstanding

Exceeds federal requirements for lending in low- and moderate-income communities

Financial Health

Adequate

ROA 1.81%

Institution Profile

FDIC BankFind

Address

8401 8th Street South, MOUNTAIN IRON, MN

County

St. Louis County

Established

November 11, 1916

Total Assets

$81M(latest call report)

Community Reinvestment Rating

CRA / FFIEC

Federal regulators examine banks to ensure they lend and invest in the communities they serve, especially low- and moderate-income areas.

Overall Rating

Outstanding

Exceeds federal requirements for lending in low- and moderate-income communities

Exam Date

December 1, 1999

Exam Type

Small Bank

Regulator

FDIC
What is a CRA rating? →
⚠️This exam is 26 years old — CRA data may not reflect current lending practices. Regulators typically re-examine banks every 2–4 years.
Estimated next exam:Overdue(based on asset size)

Financial Snapshot

As of Q1 2002Call Report / FDIC

Total Assets

$81M

Total Deposits

$70M

Net Loans

$74M

Net Income

$369K

ROA

1.81%

ROE

23.48%

Risk-Based Capital

11.67%

Regulatory minimum: 8%

Total Assets — Last 8 Quarters

Total AssetsROA

Rating History

CRA / FFIEC

Rating Trend

↑ Improving

Based on last 3 exams

4 previous ratings locked — dating back to 1991

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Rating Over Time

🔒 Locked
OutstandingSatisfactoryNeeds to ImproveSubst. Noncompliance

Exam dates and details are paywalled

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