First Independent Bank is a bank based in Russell, Minnesota, established in 1903, with $634 million in total assets across 12 branches. By Trust Grade it ranks 109th of 224 banks we track in Minnesota. Its capital ratio of 9.3% trails most similarly sized banks (35th percentile), versus a Minnesota median of 9.5%. It was profitable over the most recent period, with a 1.39% return on assets. No consumer complaints against First Independent Bank appear in the CFPB database over our analysis window — common for an institution of this size and a point in its favor.
How First Independent Bank compares to Minnesota peers
How we graded First Independent Bank
The Trust Grade blends financial strength with complaint history. Full methodology →
- Strongly capitalized (9.3% capital ratio)
- Strongly profitable (ROA 1.39%)
- No CFPB complaints on record
Consumer complaints (CFPB)
No CFPB complaints are on file for First Independent Bank over the analysis window. For a smaller institution this is common and counts in its favor.
Branch locations (12)
- 113 S Main St, Hendricks, MN 56136
- 106 Main St, Lucan, MN 56255
- 176 Broadway St, Vesta, MN 56292
- 300 Front St, Russell, MN 56169
- 108 3rd St, Balaton, MN 56115
- 101 N 1st St, Hanley Falls, MN 56245
- 105 Market St, Marshall, MN 56258
- 101 Main St N, Beardsley, MN 56211
- Main Street, Ruthton, MN 56170
- 111 W Main St, Cottonwood, MN 56229
- 53 2nd Ave W, Wood Lake, MN 56297
- 111 N Tyler St, Tyler, MN 56178
Are deposits at First Independent Bank insured?
Yes. First Independent Bank is an FDIC-insured bank (FDIC certificate #1900). Deposits are federally insured up to $250,000per depositor, per ownership category — regardless of this institution's Trust Grade. The grade reflects financial strength and complaint history for comparison, not the safety of insured deposits.
First Independent Bank: frequently asked questions
Is First Independent Bank a good bank?
First Independent Bank earns a Bankzia Trust Grade of A (95/100, "Excellent"), based on a financial-strength score of 95/100 (it has no CFPB complaints on record). Strongly capitalized (9.3% capital ratio); Strongly profitable (ROA 1.39%).
Is First Independent Bank FDIC-insured?
Yes. First Independent Bank is a FDIC-insured bank (FDIC certificate #1900). Deposits are protected up to the standard FDIC limit of $250,000 per depositor, per ownership category.
How big is First Independent Bank?
First Independent Bank holds $634 million in total assets, ranking 109th of 224 banks we track in Minnesota. It operates 12 branches.
Does First Independent Bank have CFPB complaints?
No CFPB complaints against First Independent Bank appear in our data over the analysis window, which is typical for a bank of this size.
Similar Banks
Financial data from FDIC call reports; complaint data from the CFPB Consumer Complaint Database. Bankzia is an independent resource and is not affiliated with any government agency or financial institution. Figures are for general information, not financial advice.
