# FIRST INDEPENDENT BANK
RUSSELL, MN · FDIC certificate 1900 · asset band $300M-1B · latest filing 2026-06 · live

**Verdict on the desk:** this could be *ordinary*. 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 | $632.3M | |
| Deposits | $533.0M | |
| Loans and leases | $443.4M | |
| Total equity | $61.2M | |
| Loans / deposits | 82.04% (p50 of band) | 82.04% |
| Liquid assets / assets | 26.18% (p54 of band) | |
| Uninsured deposits / deposits | 16.83% (p18 of band) | 25.97% |
| Brokered deposits | 5.35% | |
| Wholesale funding | 11.05% (p80 of band) | |
| FHLB advances / assets | 5.54% | |
| Tier 1 leverage | 9.87% (p31 of band) | 10.81% |
| Unrealized securities loss / equity | -17.25% (p27 of band) | -8.10% |
| AOCI / equity | -0.13% (p64 of band) | |
| ROA (annualized) | 1.55% (p67 of band) | 1.28% |
| Net interest margin | 3.92% (p51 of band) | 3.91% |
| Efficiency ratio | 49.30% (p17 of band) | |
| Noncurrent loans | 0.14% (p28 of band) | 0.43% |
| Net charge-offs (annualized) | 0.01% (p56 of band) | |
| Reserve coverage of noncurrent | 994.14% | |
| Real estate % of loans | 59% | |
| Construction % of loans | 12.37% (p17 of band) | |
| Auto loans | $3.7M (0.82% of loans; DQ 2.05%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p45 of band) | |
| Deposits YoY | 19.1% | |
| Employees | 90 | |

## Flags firing in the latest filing

- none

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 0 |  |  |
| 2011-06 | 1 | reserve under noncurrent |  |
| 2011-09 | 1 |  |  |
| 2011-12 | 0 |  | reserve under noncurrent |
| 2012-03 | 0 |  |  |
| 2012-06 | 0 |  |  |
| 2012-09 | 0 |  |  |
| 2012-12 | 0 |  |  |
| 2013-03 | 0 |  |  |
| 2013-06 | 0 |  |  |
| 2013-09 | 0 |  |  |
| 2013-12 | 0 |  |  |
| 2014-03 | 3 | deposits shrinking, assets shrinking, uninsured deposits leaving |  |
| 2014-06 | 1 |  | deposits shrinking, assets shrinking |
| 2014-09 | 0 |  | uninsured deposits leaving |
| 2014-12 | 1 | uninsured deposits leaving |  |
| 2015-03 | 0 |  | uninsured deposits leaving |
| 2015-06 | 0 |  |  |
| 2015-09 | 0 |  |  |
| 2015-12 | 0 |  |  |
| 2016-03 | 0 |  |  |
| 2016-06 | 0 |  |  |
| 2016-09 | 0 |  |  |
| 2016-12 | 0 |  |  |
| 2017-03 | 0 |  |  |
| 2017-06 | 1 | charge-offs p90 |  |
| 2017-09 | 1 | uninsured deposits leaving | charge-offs p90 |
| 2017-12 | 0 |  | uninsured deposits leaving |
| 2018-03 | 2 | charge-offs p90, reserve under noncurrent |  |
| 2018-06 | 2 |  |  |
| 2018-09 | 3 | wholesale funding >15% |  |
| 2018-12 | 2 |  | wholesale funding >15% |
| 2019-03 | 1 |  | charge-offs p90 |
| 2019-06 | 2 | noncurrent p90 |  |
| 2019-09 | 2 |  |  |
| 2019-12 | 2 |  |  |
| 2020-03 | 2 | charge-offs p90 | noncurrent p90 |
| 2020-06 | 4 | capital falling, noncurrent p90 |  |
| 2020-09 | 3 |  | charge-offs p90 |
| 2020-12 | 1 |  | reserve under noncurrent, noncurrent p90 |
| 2021-03 | 1 |  |  |
| 2021-06 | 1 |  |  |
| 2021-09 | 0 |  | capital falling |
| 2021-12 | 1 | uninsured deposits leaving |  |
| 2022-03 | 0 |  | uninsured deposits leaving |
| 2022-06 | 2 | capital falling, securities losses >30% of equity |  |
| 2022-09 | 3 | AOCI drag >20% of equity |  |
| 2022-12 | 2 |  | capital falling |
| 2023-03 | 1 |  | AOCI drag >20% of equity |
| 2023-06 | 3 | deposits shrinking, uninsured deposits leaving |  |
| 2023-09 | 2 |  | uninsured deposits leaving |
| 2023-12 | 2 | wholesale funding >15%, capital falling | securities losses >30% of equity, deposits shrinking |
| 2024-03 | 3 | securities losses >30% of equity |  |
| 2024-06 | 3 | charge-offs p90 | capital falling |
| 2024-09 | 3 |  |  |
| 2024-12 | 3 |  |  |
| 2025-03 | 1 |  | wholesale funding >15%, charge-offs p90 |
| 2025-06 | 2 | wholesale funding >15% |  |
| 2025-09 | 0 |  | securities losses >30% of equity, wholesale funding >15% |
| 2025-12 | 0 |  |  |
| 2026-03 | 0 |  |  |
| 2026-06 | 0 |  |  |

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

- 2022-04-26 [First Black-owned bank now officially open in Twin Cities - kare11.com](https://news.google.com/rss/articles/CBMi-AFBVV95cUxOQ2dnVWl5V0NGeWVhSFdaT1hNN2plZlN2V2E3ZTFzQzI5Ym8welhaVXVCakEzWHFPTjVWMHdNeTNsc3ZfUUNBYWZkcGlhX3NCcFMzVDh3UHdHUzNiWmpiS2tJSlEyeHJrZTRrbm5pbTZwRW1lNDZhZ1Z6MzZtREFVYXc1OEZKMVg0VEc4Z0trNi1vd0NtMnMxUHI5NTRRMFZDTVAycE5xNlNJRi1Kd1EySXpraTRabnRaVURXbW85VXc2SUhaUkJOQjRSU0FUM3BfLVMtUmVnTEM3RUlQcWo3WTdudjlRdjlRUDUzb2Job19SS2pLMUNIMg?oc=5) · kare11.com
- 2022-04-29 [Minnesota’s First Black-Owned Bank Looks to Aid Unbanked, Underbanked Communities - Twin Cities Business](https://news.google.com/rss/articles/CBMioAFBVV95cUxNdzRqSnEzZmpfaTRTTGNVNUNUWW0wSllLX2lQUFQ2N0NJbHh3WkEzMm5qTWkwd3N6bUdUZjR5aDhDT25pUEJFVDhEbFNxNkJKRDlNYVp2ZjczVi1aVmkxZVRzbmFFeTVPcHJyVkVlN0RDOUdId2dZbi0wbWJyUUluLVJiSmM1aFlVWGNOMWZJVDVWcG5WQldrTmtBRDdqdW5s?oc=5) · Twin Cities Business
- 2025-07-18 [Western Alliance to unify bank subsidiaries under single brand, eyes $100B in assets - The Business Journals](https://news.google.com/rss/articles/CBMioAFBVV95cUxQblVNbVdyOUpuQl9IZ0cyaENyLTg5NGt2NWwtMC1kY1F4endCU2N0dHhmWl94WDYxNmNEMWZXeDhobVl2WFpETl9GSHR0cEJVbzRwZVhTWVNIeVlGbVJzODBXdERrVjhqaXlGb2h3ZTdiTk9JNDgxUmJBSlBkYUNqMXQ2VzJtXzNaT0FwMjB6RzgwRGNZX1VuaU5NeUdjRU1J?oc=5) · The Business Journals
- 2021-09-28 [First Independence Bank Receives Investment from JPMorgan Chase - DBusiness Magazine](https://news.google.com/rss/articles/CBMiowFBVV95cUxPRWVBN29FWF9YVW1wSllKNmpoQUFXblJCb09KaGNONm5DeTZiMEN5QXBUOG5XT3pQaER1ZU5VMzJkaUh1UjVKVmZfQnI3NzN1WmpSWWV6WktGWmU2T3ZlVFJUR3RUcFU1LU9mRmc0aWRRT3FWbXJkZW9kclphV3BlRDNQd0hweGU3clpZT3Fzb0xLZ2c2UWhKN21PSWNtQVpwZ1FF?oc=5) · DBusiness Magazine
- 2021-01-15 [Duke Alfred Pogatchnik Obituary Jan 15, 2021 - Hamilton Funeral Home | Marshall, MN](https://news.google.com/rss/articles/CBMiY0FVX3lxTFBfRmhWcEtFVXd3aUpETDNtQy1FMF9BTEVyYUhRcXE2QnpiR1lXZEJ1dHZTYzBzaXNmMms3NDd4WXJvcFBLLUZWYlgydkZlbk1WVV9JTnJjbThWdmRMRngyQmxfMA?oc=5) · Hamilton Funeral Home | Marshall, MN
- 2015-02-24 [Pending approval, new PR bank to be called Northview - Park Rapids Enterprise](https://news.google.com/rss/articles/CBMingFBVV95cUxOWGxKSkxxaUt0bmFVaDNvZ1pCaDZCOGtHbnNEVXdKR2NmekZvT3hweXlaUEQ2bm5waVJMRTBvbVlhX08zYk0wYldIem9oNjZxSkhSZ2FMajRYeWRycW1mT1pXejQ0VHRSeEJJOTQ3ZmRRQXl5Q01xZlBpSGVQejhPWjJfdm4wMlRGQ1RIOVM4VTh6S0xuV3NveExPSTFTUQ?oc=5) · Park Rapids Enterprise
- 2024-04-17 [Bruce Helgeson Takes on challenges to help his community - - Marshall Independent](https://news.google.com/rss/articles/CBMiuAFBVV95cUxPdngtZDFzRWNMWlJBOFMzU1VaaVAzWW5DWERHSEM3Szh6c0FBRWNhZF9iOTRmQUhITFZZZnZpNU1mVVhEaDZfSlYzMlZsMnFpb0Y5WlBpcnVvbnpLXzdZelNEMURGSGVVNUhjZFRmVnZCbm9yQVU5MkM1VjVIYzh4SXRVV2RDQkhESG4taGw2X1VQYmpVVGgza055WFZWNTBPaS1RSTR2eFpNRFVMWkd6MFh4TTRtcXpO?oc=5) · Marshall Independent
- 2025-07-21 [Worthington Speedway point standings - The Globe | Worthington, Minnesota](https://news.google.com/rss/articles/CBMidEFVX3lxTE13Zm55dFEzVFRIbkM2bzBOOGVkYllGYjRjakFWY0lOTEhqem1SbzFvYnNGVnJRcE5IZXA0ZGdWMjQwXzZJNGxaWWN6ampfNUNPS2hiWVRGekloRG5FRkhvazYyTmEzMWFPRnBRaWxtcklDeHdO?oc=5) · The Globe | Worthington, Minnesota

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=1900 (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/44.json (key "1900", 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