Deerwood Bank
Waite Park, Minnesota, Stearns County
$1.5B in total assets, the 754th largest of 4,309 US banks and 9th of 225 headquartered in Minnesota.
- FDIC certificate
- 5123
- Established
- 1910
- Owned by
- Deerwood Bancshares Inc
- Primary regulator
- FDIC
- Website
- deerwoodbank.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 | $1.5B | 56% | $1.5B | |
| Loans | $955M | 50% | $958M | |
| Deposits | $1.4B | 56% | $1.2B | |
| Return on assets | 1.77% | 75% | 1.24% | |
| Net interest margin | 4.14% | 75% | 3.65% | |
| Efficiency ratio | 56.8% | 56% | 53.9% | |
| Equity to assets | 8.91% | 19% | 10.70% | |
| Loans to deposits | 69% | 12% | 84% |
Growth
Total assets grew 8.7% a year over the last 5 years and 12.5% a year over 10 years, including 2 acquisitions in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Sep 2024 | Community Development Bank, FSB Ogema, MN | $167M |
| Apr 2018 | Plaza Park State Bank Waite Park, MN | $210M |
| Jun 2015 | American Bank of St. Paul Saint Paul, MN | $312M |
| Jul 2005 | Northland Community Bank Northome, MN | $53M |
Where they operate
14 branches in 9 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Beltrami County, MN | $428M | 22.0% | 2 of 10 |
| Crow Wing County, MN | $322M | 15.5% | 2 of 15 |
| Stearns County, MN | $242M | 3.4% | 9 of 29 |
| Wright County, MN | $126M | 4.2% | 9 of 24 |
| Dakota County, MN | $107M | 1.1% | 22 of 32 |
| Itasca County, MN | $63M | 6.2% | 7 of 9 |
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 net change since 2016 (14 branches then and now). 2 opened, 2 acquired, 4 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 14 | |||
| 2016 | Sold 1 branch to Security Bank MinnesotaClosed Albert Lea and Apple Valley | 0 | 3 | −3 | 11 |
| 2018 | Acquired Plaza Park State Bank | 2 | 0 | +2 | 13 |
| 2021 | Closed Inver Grove Heights | 0 | 1 | −1 | 12 |
| 2024 | Opened Ogema | 1 | 0 | +1 | 13 |
| 2025 | Opened Saint Michael | 1 | 0 | +1 | 14 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| 1-4 family residential | 34% | 22% | |
| Commercial real estate | 32% | 32% | |
| Business (C&I) | 21% | 16% | |
| Construction and land | 7% | 7% | |
| Multifamily | 3% | 10% | |
| Consumer | 1% | 2% | |
| Farmland | 1% | 3% | |
| Agricultural | 0% | 3% | |
| Other | 1% | 5% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 69% | 51% | |
| Noninterest-bearing | 21% | 21% | |
| Time deposits | 10% | 27% |
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 | 0.29% | 0.54% |
| Net charge-offs, annualized | 0.02% | 0.05% |
| Reserves to loans | 0.86% | 1.23% |
| Leverage ratio | 8.06% | 10.52% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Minnesota
Largest competitors in Beltrami 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/deerwood