# GARY STATE BANK
GARY, MN · FDIC certificate 16472 · asset band <$300M · latest filing 2023-06 · stopped filing (departed)

**Verdict on the desk:** this could be *fortress*. Composite score 0 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $17.4M | |
| Deposits | $14.8M | |
| Loans and leases | $11.1M | |
| Total equity | $2.3M | |
| Loans / deposits | 73.35% (p58 of band) | 68.34% |
| Liquid assets / assets | 35.78% (p49 of band) | |
| Uninsured deposits / deposits | 2.40% (p1 of band) | 19.21% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 2.02% (p50 of band) | |
| FHLB advances / assets | 1.16% | |
| Tier 1 leverage | 12.34% (p63 of band) | 11.20% |
| Unrealized securities loss / equity | 0.00% (p97 of band) | -21.45% |
| AOCI / equity | 0.00% (p30 of band) | |
| ROA (annualized) | 2.21% (p92 of band) | 0.98% |
| Net interest margin | 4.86% (p91 of band) | 3.56% |
| Efficiency ratio | 57.08% (p24 of band) | |
| Noncurrent loans | 0.00% (p13 of band) | 0.19% |
| Net charge-offs (annualized) | -0.02% (p9 of band) | |
| Reserve coverage of noncurrent | – | |
| Real estate % of loans | 47% | |
| Construction % of loans | 0.00% (p8 of band) | |
| Auto loans | $112,000 (1.00% of loans; DQ 0.00%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p48 of band) | |
| Deposits YoY | -3.0% | |
| Employees | 4 | |

## Flags firing in the latest filing

- none

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 0 |  |  |
| 2011-06 | 0 |  |  |
| 2011-09 | 0 |  |  |
| 2011-12 | 0 |  |  |
| 2012-03 | 0 |  |  |
| 2012-06 | 0 |  |  |
| 2012-09 | 0 |  |  |
| 2012-12 | 0 |  |  |
| 2013-03 | 2 | capital falling, uninsured deposits leaving |  |
| 2013-06 | 0 |  | capital falling, uninsured deposits leaving |
| 2013-09 | 1 | loans exceed deposits |  |
| 2013-12 | 1 |  |  |
| 2014-03 | 1 | uninsured deposits leaving | loans exceed deposits |
| 2014-06 | 1 | loans exceed deposits | uninsured deposits leaving |
| 2014-09 | 3 | deposits shrinking, assets shrinking |  |
| 2014-12 | 0 |  | loans exceed deposits, deposits shrinking, assets shrinking |
| 2015-03 | 1 | capital falling |  |
| 2015-06 | 2 | loans exceed deposits, deposits shrinking | capital falling |
| 2015-09 | 1 |  | deposits shrinking |
| 2015-12 | 0 |  | loans exceed deposits |
| 2016-03 | 1 | capital falling |  |
| 2016-06 | 1 | loans exceed deposits | capital falling |
| 2016-09 | 1 |  |  |
| 2016-12 | 0 |  | loans exceed deposits |
| 2017-03 | 2 | capital falling, charge-offs p90 |  |
| 2017-06 | 1 | loans exceed deposits | capital falling, charge-offs p90 |
| 2017-09 | 1 |  |  |
| 2017-12 | 2 | deposits shrinking, assets shrinking | loans exceed deposits |
| 2018-03 | 1 | loans exceed deposits | deposits shrinking, assets shrinking |
| 2018-06 | 1 | assets shrinking | loans exceed deposits |
| 2018-09 | 1 | loans exceed deposits | assets shrinking |
| 2018-12 | 0 |  | loans exceed deposits |
| 2019-03 | 0 |  |  |
| 2019-06 | 1 | loans exceed deposits |  |
| 2019-09 | 1 |  |  |
| 2019-12 | 0 |  | loans exceed deposits |
| 2020-03 | 0 |  |  |
| 2020-06 | 0 |  |  |
| 2020-09 | 0 |  |  |
| 2020-12 | 0 |  |  |
| 2021-03 | 1 | capital falling |  |
| 2021-06 | 0 |  | capital falling |
| 2021-09 | 0 |  |  |
| 2021-12 | 0 |  |  |
| 2022-03 | 1 | capital falling |  |
| 2022-06 | 2 | uninsured deposits leaving |  |
| 2022-09 | 0 |  | capital falling, uninsured deposits leaving |
| 2022-12 | 0 |  |  |
| 2023-03 | 1 | capital falling |  |
| 2023-06 | 0 |  | capital falling |

## In the news (Google News, unfiltered, newest first; check the city)

- 2022-01-02 [Gary Then and Now - nwitimes.com](https://news.google.com/rss/articles/CBMifkFVX3lxTE12QXZETEl3bl8tdjIzbHZFSVpJalZYZWd4Y1daNm45aFpjaUs3UHZTd3RYSXlCamFsZ3hjNGFGa0JWTGJIcGR3X1ljc2FjUUZEWktMV0RuQ1d4aEViQ3RXZzRZMHVvUFRDcFpONUR2VDZUVXZPOW9vdXFHRGdyZw?oc=5) · nwitimes.com
- 2019-07-26 [Gary Union Station named national landmark - nwitimes.com](https://news.google.com/rss/articles/CBMijAFBVV95cUxPVUlIUGNnNTlfcWszMHU0cVNWQjkwWFY2WXkzcWdIQVFjaUVmZDBLckpPTnVnZnVyMVFDVlpvZVRTMVd6d2NTOEtWd1pzcFpJWk9WTzdiN2lPSHV4RkZzMnR6SFllR1E5WWNiNG1LX1IxWm9weUZDeER2MlA5MWR1STJnY3BFVlJpNWpaSA?oc=5) · nwitimes.com

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=16472 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/24.json (key "16472", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

---
Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide