Granite Bank
Cold Spring, Minnesota, Stearns County
$353M in total assets, the 2,277th largest of 4,309 US banks and 75th of 225 headquartered in Minnesota.
- FDIC certificate
- 5116
- Established
- 1902
- Owned by
- First Bancshares Cold Spring
- Primary regulator
- FDIC
- Website
- www.granitebank.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 | $353M | 63% | $277M | |
| Loans | $314M | 73% | $181M | |
| Deposits | $289M | 61% | $243M | |
| Return on assets | 1.15% | 41% | 1.25% | |
| Net interest margin | 4.63% | 87% | 3.99% | |
| Efficiency ratio | 88.2% | 97% | 61.0% | |
| Equity to assets | 8.86% | 37% | 9.59% | |
| Loans to deposits | 108% | 92% | 82% |
Growth
Total assets grew 20.0% a year over the last 5 years and 12.9% a year over 10 years, including 1 acquisition in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Jul 2022 | Maple Bank Champlin, MN | $82M |
Where they operate
2 branches in 2 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Stearns County, MN | $211M | 3.0% | 11 of 29 |
| Hennepin County, MN | $79M | 0.1% | 42 of 68 |
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 (2 branches then and now). 0 opened, 1 acquired, 1 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 2 | |||
| 2016 | Closed Rockville | 0 | 1 | −1 | 1 |
| 2022 | Acquired Maple Bank | 1 | 0 | +1 | 2 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| 1-4 family residential | 36% | 28% | |
| Commercial real estate | 33% | 25% | |
| Business (C&I) | 16% | 15% | |
| Construction and land | 8% | 5% | |
| Agricultural | 2% | 8% | |
| Multifamily | 2% | 4% | |
| Consumer | 1% | 4% | |
| Farmland | 1% | 10% | |
| Other | 1% | 1% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 50% | 49% | |
| Noninterest-bearing | 25% | 21% | |
| Time deposits | 25% | 30% |
Brokered deposits are 15.9% of deposits (peers 3.5%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 1.38% | 0.46% |
| Net charge-offs, annualized | 0.04% | 0.00% |
| Reserves to loans | 0.66% | 1.21% |
| Leverage ratio | 8.53% | 10.08% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Minnesota
Largest competitors in Stearns 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/granite