Bank · FDIC insured
The Bank of Elk River
A $719.1M bank headquartered in Elk River, MN, with 4 branches in Minnesota. Best rates: CDs 3.91% and savings 0.20% APY.
The Bank of Elk River Carrot Score
69
Carrot Score
Higher than 24% of U.S. banks and credit unions
#67 of 97 in Minneapolis, MN-WI metroHow the score works →
Deposits are federally insured by the FDIC up to $250,000 per depositor.
About The Bank of Elk River
The Bank of Elk River is a family-owned community bank founded in 1885 by the Babcock family.
- Headquarters
- 630 Main St Nw, Elk River, MN 55330
- FDIC certificate
- 1607 ↗
Branches
4 branches in Minnesota
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Minnesota
4 branches
- The Bank of Elk RiverMain office630 Main St Nw, Elk River, MN 55330Directions
- School Street Office846 Freeport Ave Nw, Elk River, MN 55330Directions
- Otsego Office15800 88th St Ne, Otsego, MN 55330Directions
- Zimmerman Office Branch26319 2nd St E, Zimmerman, MN 55398Directions
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 | 9.14% | 10.98% | 13.00% or more |
| Troubled loansNoncurrent | 1.20% | 0.42% | 0.09% or less |
| ProfitabilityReturn on assets | 0.83% | 1.24% | 1.68% or more |
| LendingLoans per $100 deposited | $69 | $81 | — |
- CapitalLeverage ratio9.14%Peers’ middle 10.98% · Top 25% 13.00%+
- Troubled loansNoncurrent1.20%Peers’ middle 0.42% · Top 25% ≤0.09%
- ProfitabilityReturn on assets0.83%Peers’ middle 1.24% · Top 25% 1.68%+
- LendingLoans per $100 deposited$69Peers’ 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 The Bank of Elk River are confidential. These figures are what it reports to the FDIC each quarter, set beside its peers; they aren’t a rating.