Bank · FDIC insured
Security State Bank
A $114.5M bank headquartered in Aitkin, MN, with 4 branches in Minnesota.
Rates
No Carrot Score yet: it needs scores for at least two of CDs, savings, auto loans and credit cards. CDs: rates are not published online. Auto loans: no rates found on its website. Credit cards: only rates Carrot doesn’t compare are published (introductory, refinance or business rates, or none at all).
- Savings700.05%2.00% with extra requirementsSavings rates →
Deposits are federally insured by the FDIC up to $250,000 per depositor.
About Security State Bank
Security State Bank of Aitkin traces its beginnings to 1914 as Farmers and Merchants Bank, became Farmers National Bank of Aitkin in 1915, and adopted its current state-chartered name in 1948.
Owned by Craig and Kristen Potts since 2005, the bank expanded through milestones including a 2001 merger with Cook County State Bank in Grand Marais, Minnesota.
- Headquarters
- 402 Minnesota Ave N, Aitkin, MN 56431
- FDIC certificate
- 16656 ↗
Branches
4 branches in Minnesota
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Minnesota
4 branches
Aitkin area · 2
- Security State Bank of AitkinMain office402 Minnesota Ave N, Aitkin, MN 56431Directions
- Paulbecks County Market Branch171 Red Oak Dr, Aitkin, MN 56431Directions
Brainerd area · 1
- Garrison Branch27310 Central St, Garrison, MN 56450Directions
Grand Marais area · 1
- Grand Marais Branch6 W Wisconsin St, Grand Marais, MN 55604Directions
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 | 10.79% | 10.98% | 13.00% or more |
| Troubled loansNoncurrent | 2.24% | 0.42% | 0.09% or less |
| ProfitabilityReturn on assets | 0.94% | 1.24% | 1.68% or more |
| LendingLoans per $100 deposited | $54 | $81 | — |
- CapitalLeverage ratio10.79%Peers’ middle 10.98% · Top 25% 13.00%+
- Troubled loansNoncurrent2.24%Peers’ middle 0.42% · Top 25% ≤0.09%
- ProfitabilityReturn on assets0.94%Peers’ middle 1.24% · Top 25% 1.68%+
- LendingLoans per $100 deposited$54Peers’ 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 Security State Bank are confidential. These figures are what it reports to the FDIC each quarter, set beside its peers; they aren’t a rating.