Bank · FDIC insured
Heritage Bank
A $120.9M bank headquartered in West Concord, MN, with 3 branches in Minnesota. Best rates: CDs 4.16% and savings 0.15% APY.
Heritage Bank Carrot Score
70
Carrot Score
Higher than 27% of U.S. banks and credit unions
#18 of 24 in Rochester, MN metroHow the score works →
Deposits are federally insured by the FDIC up to $250,000 per depositor.
About Heritage Bank
Heritage Bank originated in West Concord, Minnesota, where it was known as Farmers State Bank from 1930 to 2018 and has been locally family-owned since Allan Organ acquired it in 1981.
The community bank has grown to serve West Concord, Dennison, Northfield, and Dodge Center.
- Headquarters
- 181 Main St, West Concord, MN 55985
- FDIC certificate
- 8865 ↗
Branches
3 branches in Minnesota
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Minnesota
3 branches
Rochester area · 1
- Heritage Bank MinnesotaMain office181 Main St, West Concord, MN 55985Directions
Red Wing area · 1
- Dennison Branch37470 1st Avenue Ct, Dennison, MN 55018Directions
Faribault area · 1
- Northfield Branch1520 Clinton Ln, Northfield, MN 55057Directions
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 | 7.27% | 10.98% | 13.00% or more |
| Troubled loansNoncurrent | 0.64% | 0.42% | 0.09% or less |
| ProfitabilityReturn on assets | 0.85% | 1.24% | 1.68% or more |
| LendingLoans per $100 deposited | $90 | $81 | — |
- CapitalLeverage ratio7.27%Peers’ middle 10.98% · Top 25% 13.00%+
- Troubled loansNoncurrent0.64%Peers’ middle 0.42% · Top 25% ≤0.09%
- ProfitabilityReturn on assets0.85%Peers’ middle 1.24% · Top 25% 1.68%+
- LendingLoans per $100 deposited$90Peers’ 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 Heritage Bank are confidential. These figures are what it reports to the FDIC each quarter, set beside its peers; they aren’t a rating.