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This institution is no longer active

Operations ceased on September 27, 2023. CRA examination history below reflects the period it was active.

THE GARY STATE BANK

GARY, MN · Supervised by FDIC

Est. 1946FDIC #16,472RSSD: FDIC-16472
Outstanding Up

Current rating · Exam: November 2019

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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 2.21%

Institution Profile

FDIC BankFind

Address

112 Main St, GARY, MN

County

Norman County

Established

August 17, 1946

Total Assets

$17M(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

November 1, 2019

Exam Type

Small Bank

Regulator

FDIC
What is a CRA rating? →
⚠️This exam is 6 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)
Download Evaluation Report (PDF)

Financial Snapshot

As of Q2 2023Call Report / FDIC

Total Assets

$17M

Total Deposits

$15M

Net Loans

$11M

Net Income

$209K

ROA

2.21%

ROE

18.63%

Risk-Based Capital

22.38%

Regulatory minimum: 8%

Total Assets — Last 8 Quarters

Total AssetsROA

Rating History

CRA / FFIEC

Rating Trend

↑ Improving

Based on last 3 exams

7 previous ratings locked — dating back to 1992

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Rating Over Time

🔒 Locked
OutstandingSatisfactoryNeeds to ImproveSubst. Noncompliance

Exam dates and details are paywalled

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