ProGrowth Bank
Nicollet, Minnesota, Nicollet County
$365M in total assets, the 2,219th largest of 4,309 US banks and 71st of 225 headquartered in Minnesota.
- FDIC certificate
- 8536
- Established
- 1903
- Owned by
- Progressive Growth Corp
- Primary regulator
- FDIC
- Website
- http://www.progrowth.com
At a glance
Compared with 150 banks headquartered in Minnesota with $100 million to $1 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $365M | 65% | $277M | |
| Loans | $81M | 13% | $184M | |
| Deposits | $327M | 66% | $243M | |
| Return on assets | -0.42% | 2% | 1.25% | |
| Net interest margin | 1.60% | 2% | 4.00% | |
| Efficiency ratio | 98.8% | 98% | 61.0% | |
| Equity to assets | 5.45% | 2% | 9.59% | |
| Loans to deposits | 25% | 2% | 83% |
Growth
Total assets grew 9.5% a year over the last 5 years and 11.5% a year over 10 years, without acquisitions.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Jun 2002 | Citizens State Bank of Gaylord Gaylord, MN, an affiliate under the same holding company | $54M |
Where they operate
3 branches in 3 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Sibley County, MN | $131M | 32.4% | 1 of 10 |
| Nicollet County, MN | $103M | 13.4% | 4 of 6 |
| Blue Earth County, MN | $93M | 3.4% | 11 of 17 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
No change since 2016. The bank has operated 3 branches throughout, with none opened, acquired, closed or sold.
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| 1-4 family residential | 29% | 28% | |
| Farmland | 28% | 10% | |
| Commercial real estate | 12% | 25% | |
| Agricultural | 11% | 8% | |
| Business (C&I) | 11% | 15% | |
| Construction and land | 5% | 5% | |
| Multifamily | 2% | 4% | |
| Consumer | 1% | 4% | |
| Other | 0% | 1% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Time deposits | 59% | 30% | |
| Other interest-bearing | 32% | 49% | |
| Noninterest-bearing | 9% | 21% |
Brokered deposits are 22.3% of deposits (peers 3.5%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.00% | 0.48% |
| Net charge-offs, annualized | -0.01% | 0.00% |
| Reserves to loans | 0.81% | 1.21% |
| Leverage ratio | 7.09% | 10.08% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Minnesota
Largest competitors in Sibley 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/progrowth