Bank · FDIC insured
First State Bank of Red Wing
A $86.3M bank headquartered in Red Wing, MN, with 3 branches in Minnesota. Best rates: CDs 3.55% and savings 0.35% APY.
First State Bank of Red Wing Carrot Score
66
Carrot Score
Higher than 15% of U.S. banks and credit unions
#21 of 24 in Rochester, MN metroHow the score works →
Deposits are federally insured by the FDIC up to $250,000 per depositor.
About First State Bank of Red Wing
Founded in 1915, First State Bank of Red Wing is a locally and family-owned bank based in Red Wing, Minnesota.
The bank operates three branch locations in Red Wing, Mazeppa, and Medford, Minnesota.
- Headquarters
- 3209 S Service Dr, Red Wing, MN 55066
- FDIC certificate
- 8191 ↗
Branches
3 branches in Minnesota
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Minnesota
3 branches
Red Wing area · 1
- The First State Bank of Red WingMain office3209 S Service Dr, Red Wing, MN 55066Directions
Rochester area · 1
- Mazeppa BranchFirst Street And State Highway 60, Mazeppa, MN 55956Directions
Owatonna area · 1
- Medford Branch115 1st St Ne, Medford, MN 55049Directions
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 | 8.96% | 12.77% | 16.04% or more |
| Troubled loansNoncurrent | 1.07% | 0.46% | 0.00% or less |
| ProfitabilityReturn on assets | -0.02% | 0.99% | 1.52% or more |
| LendingLoans per $100 deposited | $42 | $67 | — |
- CapitalLeverage ratio8.96%Peers’ middle 12.77% · Top 25% 16.04%+
- Troubled loansNoncurrent1.07%Peers’ middle 0.46% · Top 25% ≤0.00%
- ProfitabilityReturn on assets-0.02%Peers’ middle 0.99% · Top 25% 1.52%+
- LendingLoans per $100 deposited$42Peers’ middle $67
Compared with the 546 banks with under $100 million 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 State Bank of Red Wing are confidential. These figures are what it reports to the FDIC each quarter, set beside its peers; they aren’t a rating.