MidCountry Bank
Minneapolis, Minnesota, Hennepin County
$1.1B in total assets, the 1,002nd largest of 4,309 US banks and 17th of 225 headquartered in Minnesota.
- FDIC certificate
- 28865
- Established
- 1933
- Owned by
- Midcountry Acquisition Corp
- Primary regulator
- OCC
- Website
- www.midcountrybank.com
At a glance
Compared with 16 banks headquartered in Minnesota with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $1.1B | 6% | $1.5B | |
| Loans | $737M | 6% | $984M | |
| Deposits | $836M | 6% | $1.3B | |
| Return on assets | 0.96% | 25% | 1.31% | |
| Net interest margin | 3.97% | 69% | 3.65% | |
| Efficiency ratio | 61.7% | 69% | 53.9% | |
| Equity to assets | 12.46% | 81% | 9.86% | |
| Loans to deposits | 88% | 62% | 83% |
Growth
Total assets grew 4.0% a year over the last 5 years and 3.5% a year over 10 years, including 2 acquisitions in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Oct 2024 | Red Rock Bank Sanborn, MN, an affiliate under the same holding company | $43M |
| Jan 2024 | Lake Community Bank Long Lake, MN, an affiliate under the same holding company | $138M |
| Nov 2006 | South Pointe Bank Marion, IL | $203M |
| Oct 2004 | MidCountry Bank Minnetonka, MN | $226M |
| Sep 1994 | First Federal Savings and Loan Association of Hastings Hastings, MN | $46M |
Where they operate
16 branches in 11 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Hennepin County, MN | $230M | 0.2% | 29 of 68 |
| Mcleod County, MN | $174M | 12.8% | 3 of 8 |
| Dakota County, MN | $117M | 1.2% | 18 of 32 |
| Wright County, MN | $78M | 2.6% | 16 of 24 |
| Meeker County, MN | $54M | 8.7% | 5 of 8 |
| Carver County, MN | $51M | 1.8% | 10 of 16 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net loss of 7 branches since 2016 (23 to 16, −30.4%). 1 opened, 3 acquired, 11 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 23 | |||
| 2016 | Opened White Bear Lake | 1 | 0 | +1 | 24 |
| 2017 | Closed Hutchinson | 0 | 1 | −1 | 23 |
| 2018 | Sold 8 branches to Legence BankClosed Excelsior | 0 | 9 | −9 | 14 |
| 2019 | Closed Las Vegas | 0 | 1 | −1 | 13 |
| 2024 | Acquired Red Rock Bank and Lake Community Bank | 3 | 0 | +3 | 16 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Commercial real estate | 49% | 31% | |
| 1-4 family residential | 15% | 23% | |
| Multifamily | 14% | 10% | |
| Business (C&I) | 9% | 17% | |
| Consumer | 4% | 2% | |
| Construction and land | 3% | 7% | |
| Farmland | 2% | 3% | |
| Agricultural | 1% | 3% | |
| Other | 3% | 5% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 54% | 52% | |
| Time deposits | 26% | 26% | |
| Noninterest-bearing | 21% | 21% |
Brokered deposits are 0.0% of deposits (peers 9.1%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.57% | 0.52% |
| Net charge-offs, annualized | 0.03% | 0.05% |
| Reserves to loans | 1.79% | 1.20% |
| Leverage ratio | 13.00% | 10.13% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Minnesota
Largest competitors in Hennepin County, MN
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/midcountry