Bank · FDIC insured
First Independent Bank, Minnesota
Top CarrotA $632.3M bank headquartered in Russell, MN, with 12 branches in Minnesota. Best rates: CDs 4.32% APY.
First Independent Bank, Minnesota Carrot Score
Carrot ScoreTop Carrot
Higher than 78% of U.S. banks and credit unions
#1 of 6 in Marshall, MN metroHow the score works →
Deposits are federally insured by the FDIC up to $250,000 per depositor.
About First Independent Bank, Minnesota
First Independent Bank is a family- and employee-owned bank.
The institution operates 12 branch locations.
The bank provides personal, business, and agricultural banking and lending services.
- Headquarters
- 300 Front St, Russell, MN 56169
- FDIC certificate
- 1900 ↗
Branches
12 branches in Minnesota
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Minnesota
12 branches
Marshall area · 4
- First Independent BankMain office300 Front St, Russell, MN 56169Directions
- Balaton Branch108 3rd St, Balaton, MN 56115Directions
- Cottonwood Branch111 W Main St, Cottonwood, MN 56229Directions
- Marshall Branch105 Market St, Marshall, MN 56258Directions
Beardsley area · 1
- Beardsley Branch101 Main St N, Beardsley, MN 56211Directions
Hanley Falls area · 1
- Detached Facility101 N 1st St, Hanley Falls, MN 56245Directions
Hendricks area · 1
- First Security Bank Branch113 S Main St, Hendricks, MN 56136Directions
Lucan area · 1
- State Bank Of Lucan Branch106 Main St, Lucan, MN 56255Directions
Ruthton area · 1
- Main Street - Ruthton BranchMain Street, Ruthton, MN 56170Directions
Tyler area · 1
- Tyler Branch111 N Tyler St, Tyler, MN 56178Directions
Vesta area · 1
- 176 South Broadway Branch176 Broadway St, Vesta, MN 56292Directions
Wood Lake area · 1
- Wood Lake Branch53 2nd Ave W, Wood Lake, MN 56297Directions
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 | 9.87% | 10.98% | 13.00% or more |
| Troubled loansNoncurrent | 0.14% | 0.42% | 0.09% or less |
| ProfitabilityReturn on assets | 1.55% | 1.24% | 1.68% or more |
| LendingLoans per $100 deposited | $83 | $81 | — |
- CapitalLeverage ratio9.87%Peers’ middle 10.98% · Top 25% 13.00%+
- Troubled loansNoncurrent0.14%Peers’ middle 0.42% · Top 25% ≤0.09%
- ProfitabilityReturn on assets1.55%Peers’ middle 1.24% · Top 25% 1.68%+
- LendingLoans per $100 deposited$83Peers’ middle $81
Compared with the 2,650 banks with $100 million to $1 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 First Independent Bank, Minnesota are confidential. These figures are what it reports to the FDIC each quarter, set beside its peers; they aren’t a rating.