Bank · FDIC insured
Deerwood Bank
A $1.5B bank headquartered in Waite Park, MN, with 14 branches in Minnesota. Best rates: CDs 3.39% and savings 0.25% APY.
Deerwood Bank Carrot Score
62
Carrot Score
Higher than 7% of U.S. banks and credit unions
#11 of 12 in Brainerd, MN metroHow the score works →
Deposits are federally insured by the FDIC up to $250,000 per depositor.
About Deerwood Bank
Originally incorporated in 1910 as The First National Bank of Deerwood in Deerwood, Minnesota, the institution is now named Deerwood Bank.
After 68 years serving Deerwood, the bank expanded across Minnesota, operating locations in communities including Baxter, Brainerd, Grand Rapids, Mendota Heights, Sartell, St. Michael, and St. Paul.
- Headquarters
- 131 6th Ave S, Waite Park, MN 56387
- FDIC certificate
- 5123 ↗
Branches
14 branches in Minnesota
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Minnesota
14 branches
Brainerd area · 4
- Baxter Branch14986 Lynwood Dr, Baxter, MN 56425Directions
- Brainerd Office Branch611 Washington St Ne, Brainerd, MN 56401Directions
- Deerwood Branch21236 Archibald Rd, Deerwood, MN 56444Directions
- Garrison Branch9451 Madison St, Garrison, MN 56450Directions
Minneapolis area · 3
- Mendota Heights Branch1060 Dakota Dr, Mendota Heights, MN 55120Directions
- Saint Michael Branch12725 43rd St Ne, St. Michael, MN 55376Directions
- Saint Paul Branch2310 7th St W, St. Paul, MN 55116Directions
St. Cloud area · 2
- Deerwood BankMain office131 6th Ave S, Waite Park, MN 56387Directions
- Sartell Branch2351 Connecticut Ave S, Sartell, MN 56377Directions
Bemidji area · 2
- Bemidji Branch1350 Paul Bunyan Dr Nw, Bemidji, MN 56601Directions
- Blackduck Branch16 Summit Ave W, Blackduck, MN 56630Directions
Grand Rapids area · 1
- Grand Rapids Branch2950 S Highway 169, Grand Rapids, MN 55744Directions
Northome area · 1
- Northome Branch12080 Main St, Northome, MN 56661Directions
Detroit Lakes area · 1
- Ogema Branch516 Main St W, Ogema, MN 56569Directions
Walk-in offices from the FDIC directory as of September 4, 2026. Directions open Google Maps. A nearby branch doesn’t mean you can join or open an account.
Financial details
| Measure | This bank | Peers’ middle | Strongest quarter |
|---|---|---|---|
| CapitalLeverage ratio | 8.06% | 10.49% | 11.89% or more |
| Troubled loansNoncurrent | 0.29% | 0.52% | 0.23% or less |
| ProfitabilityReturn on assets | 1.79% | 1.25% | 1.62% or more |
| LendingLoans per $100 deposited | $69 | $88 | — |
- CapitalLeverage ratio8.06%Peers’ middle 10.49% · Top 25% 11.89%+
- Troubled loansNoncurrent0.29%Peers’ middle 0.52% · Top 25% ≤0.23%
- ProfitabilityReturn on assets1.79%Peers’ middle 1.25% · Top 25% 1.62%+
- LendingLoans per $100 deposited$69Peers’ middle $88
Compared with the 897 banks with $1 billion to $10 billion in assets. The strongest quarter is what the best 25% of them reach: more capital and profit, fewer troubled loans. Lending has no better end.Troubled loans are noncurrent: 90 or more days late, or no longer earning interest.
Regulators’ own ratings of Deerwood Bank are confidential. These figures are what it reports to the FDIC each quarter, set beside its peers; they aren’t a rating.