# GRAND MARAIS STATE BANK
GRAND MARAIS, MN · FDIC certificate 8842 · asset band <$300M · 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 | $207.2M | |
| Deposits | $189.6M | |
| Loans and leases | $131.0M | |
| Total equity | $16.7M | |
| Loans / deposits | 68.44% (p42 of band) | 73.59% |
| Liquid assets / assets | 35.12% (p55 of band) | |
| Uninsured deposits / deposits | 19.25% (p48 of band) | 19.81% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 0.00% (p23 of band) | |
| FHLB advances / assets | 0.00% | |
| Tier 1 leverage | 8.40% (p5 of band) | 11.76% |
| Unrealized securities loss / equity | -2.65% (p67 of band) | -6.57% |
| AOCI / equity | -0.29% (p54 of band) | |
| ROA (annualized) | 1.71% (p77 of band) | 1.17% |
| Net interest margin | 4.19% (p64 of band) | 3.93% |
| Efficiency ratio | 60.70% (p37 of band) | |
| Noncurrent loans | 0.10% (p34 of band) | 0.36% |
| Net charge-offs (annualized) | 0.01% (p69 of band) | |
| Reserve coverage of noncurrent | 988.46% | |
| Real estate % of loans | 80% | |
| Construction % of loans | 29.20% (p63 of band) | |
| Auto loans | $2.5M (1.93% of loans; DQ 0.91%, NCO 0.01%) | |
| Loans to nondepository financials | $0 (0% of equity) (p48 of band) | |
| Deposits YoY | 75.7% | |
| Employees | 27 | |

## Flags firing in the latest filing

- none

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 1 | reserve under noncurrent |  |
| 2011-06 | 1 |  |  |
| 2011-09 | 1 | capital falling | reserve under noncurrent |
| 2011-12 | 1 |  |  |
| 2012-03 | 0 |  | capital falling |
| 2012-06 | 0 |  |  |
| 2012-09 | 0 |  |  |
| 2012-12 | 1 | capital falling |  |
| 2013-03 | 0 |  | capital falling |
| 2013-06 | 0 |  |  |
| 2013-09 | 2 | capital falling, AOCI drag >20% of equity |  |
| 2013-12 | 1 |  | AOCI drag >20% of equity |
| 2014-03 | 0 |  | capital falling |
| 2014-06 | 1 | reserve under noncurrent |  |
| 2014-09 | 1 |  |  |
| 2014-12 | 0 |  | reserve under noncurrent |
| 2015-03 | 0 |  |  |
| 2015-06 | 0 |  |  |
| 2015-09 | 1 | capital falling |  |
| 2015-12 | 1 |  |  |
| 2016-03 | 0 |  | capital falling |
| 2016-06 | 0 |  |  |
| 2016-09 | 2 | leverage <7%, capital falling |  |
| 2016-12 | 0 |  | leverage <7%, capital falling |
| 2017-03 | 0 |  |  |
| 2017-06 | 0 |  |  |
| 2017-09 | 1 | capital falling |  |
| 2017-12 | 0 |  | capital falling |
| 2018-03 | 0 |  |  |
| 2018-06 | 2 | deposits shrinking, uninsured deposits leaving |  |
| 2018-09 | 2 | capital falling | uninsured deposits leaving |
| 2018-12 | 0 |  | deposits shrinking, capital falling |
| 2019-03 | 0 |  |  |
| 2019-06 | 0 |  |  |
| 2019-09 | 0 |  |  |
| 2019-12 | 0 |  |  |
| 2020-03 | 0 |  |  |
| 2020-06 | 0 |  |  |
| 2020-09 | 2 | leverage <7%, capital falling |  |
| 2020-12 | 2 |  |  |
| 2021-03 | 1 |  | capital falling |
| 2021-06 | 1 |  |  |
| 2021-09 | 1 |  |  |
| 2021-12 | 2 | capital falling |  |
| 2022-03 | 2 | securities losses >30% of equity | capital falling |
| 2022-06 | 3 | AOCI drag >20% of equity |  |
| 2022-09 | 2 |  | leverage <7% |
| 2022-12 | 4 | deposits shrinking, uninsured deposits leaving |  |
| 2023-03 | 3 |  | AOCI drag >20% of equity |
| 2023-06 | 4 | construction >100% equity |  |
| 2023-09 | 3 |  | construction >100% equity |
| 2023-12 | 3 | assets shrinking | uninsured deposits leaving |
| 2024-03 | 3 |  |  |
| 2024-06 | 3 |  |  |
| 2024-09 | 0 |  | securities losses >30% of equity, deposits shrinking, assets shrinking |
| 2024-12 | 1 | capital falling |  |
| 2025-03 | 0 |  | capital falling |
| 2025-06 | 0 |  |  |
| 2025-09 | 1 | uninsured deposits leaving |  |
| 2025-12 | 0 |  | uninsured deposits leaving |
| 2026-03 | 0 |  |  |
| 2026-06 | 0 |  |  |

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

- 2026-02-10 [Grand Marais State Bank merger doubles locations statewide - WTIP](https://news.google.com/rss/articles/CBMiggFBVV95cUxPek9yb1ZFZnRTY3VfYnJpWkcybUJCZUwzWVhSckI2YmFSR2JueFJKa2ZjT1VObXVqdkZTT2doVUp3VVR3ckpqNEZmUFVKZWtmVm5ZUkdRMmpTTnZLdDY0cVZZSnlkWExyR25wU3JWdEFOWlhxUHRwZXJVNXR1TllrX3NB?oc=5) · WTIP
- 2022-11-19 [Grand Marais State Bank informs public to watch out for scam solicitors - WTIP](https://news.google.com/rss/articles/CBMikwFBVV95cUxPclppRmZHVjRiR0VTUGVrVWZhSEF1aFpjaUozbFdCdEtUdWloQmNkNzZ5ZGNmVU0wM2hkNnZzNlctcXZNLTUxN3NINlllWnFuX1RjSGNyMU9sQnNQdEZBOXM3OWlaOHB5Sm5uR0tzNUN0dzM4RE5hZFpBLWk4ZWFGSmdEYTRaWlltWHFMYklOSUtJalE?oc=5) · WTIP
- 2024-02-03 [Historic Cook County announces the release of the new book Chasing the North Wind - North Shore Journal](https://news.google.com/rss/articles/CBMivgFBVV95cUxNRXpDMDBxdWMtU1IyZjI5TkR4Tm5XYzJHN0wwbXFMVzI1bEdTbUFucHdFWFo5MzVfWU9kdUlyOWFOLTBGa21vNUF1WGd4OE55eU93T3dIZUFqdjMwMmFERG9qaGxWQlRzUzgyMlFaUmpwVllMT0FTb3c5RUNObDA1cmpFb29TM3E4RHlqTkRQZ1NBVXVXMUttQ1AwdE5oZEZDVVVEczFjeEVfc2ViYktUUFBkSnU1Xy1QbjZLbmFB?oc=5) · North Shore Journal
- 2024-06-28 [Don't Pass Up This Minnesota Restaurant In A Former Bank - Only In Your State](https://news.google.com/rss/articles/CBMihwFBVV95cUxPUzh2X3NqR2V6NHAtb2p2LTZZWGo2d1NSbkp4aUJPYXRWSHRJeHJ3NlJXT3RETFpnb0ZLcVpNTEV3MTNqM3E1eVIxWHVRSkRmZ1RxZXloQXE0U3BVa0xhUG1ieDlEUEtFYlQ1czBvNF9ReEpOTWJSNm1XaUZjZzBveTlJOFl3NGM?oc=5) · Only In Your State
- 2025-09-06 [Moose Madness Family Festival in Grand Marais - Thrifty Minnesota](https://news.google.com/rss/articles/CBMigAFBVV95cUxPaUxnV0VBTTBvaXJNeU84U1BpUXRaZ01DcWgzQ0VzdWxlSnpEbnRUZ1hrdS01NmpjSDdaWkh3M241d0FYNmdMUjhkUU9UQmw5MV9yMGJUdnZvR256bU9YVHR5SWVuT3NNWXUxbDNjdnVadml5VGRRaXVwV3VfcmJEaw?oc=5) · Thrifty Minnesota
- 2025-05-28 [Irene Anna Peterson Obituary (2025) - Two Harbors, MN - Cavallin Funeral Home - Two Harbors - legacy.com](https://news.google.com/rss/articles/CBMigwFBVV95cUxQM1dxbkQ1MGd0b0NBdWx2VjhnZlhGRVprZk9keTZsOFVITm9JalNEV0d1c09hRWdZYUx4R2RJRDUzZUF6U0hrTkViSXdHVnZxNFdFdWNrM0cxVGYyWW9VNF9LMnpwdEU2WDM2NVQ2ODdxUWhCMlAyQlpNMFdmYmQxYUVHUQ?oc=5) · legacy.com
- 2026-08-05 [STATE OF MINNESOTA COUNTY OF COOK DISTRICT COURT SIXTH JUDICIAL DISTRICT - North Shore Journal](https://news.google.com/rss/articles/CBMirwFBVV95cUxPSHkyUVZaSzlEdFFyZlYxTl9WZk9FbDRNeFZ5bC1mVWxXVHpQVnItRnoxUFRVQl8yeERuRFhaNHpkaE9abmktZW9CT2hmd2diM0l6czdHTnJjT1NFNWlOMzg3bHJzZ24zM0pvU1FwSkRHUnlhRnNkVXNmQlZnd2IzYlZIQUJQcGNtNFoyZGt1YV9TVVhzMWY4cXo3M0xxUk5FeHN3N1o1N1ZVejlFMHlz?oc=5) · North Shore Journal
- 2026-02-08 [Change is coming: staying penny-wise in 2026 - WTIP](https://news.google.com/rss/articles/CBMibkFVX3lxTE96QXN1ZVB5c3I5UC1VZkw0WXZmYlVVYkVnMjZlemdfM19rLUdMT0p2cEpzOG1tR1A5TkJKemU3M0VEXzZfQ1VaZ2paakdScTQ1NXFERlZlclk3NFVHVkN1OXg4TGhCZmRSbzZYN1lR?oc=5) · WTIP

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=8842 (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/10.json (key "8842", 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.

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