# FIRST STATE BANK SOUTHWEST
PIPESTONE, MN · FDIC certificate 9770 · asset band $300M-1B · latest filing 2026-06 · live

**Verdict on the desk:** this could be *run candidate*. Composite score 2 (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 | $409.9M | |
| Deposits | $350.8M | |
| Loans and leases | $224.2M | |
| Total equity | $27.3M | |
| Loans / deposits | 62.98% (p16 of band) | 82.04% |
| Liquid assets / assets | 40.80% (p83 of band) | |
| Uninsured deposits / deposits | 15.45% (p14 of band) | 25.97% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 6.95% (p67 of band) | |
| FHLB advances / assets | 0.00% | |
| Tier 1 leverage | 9.69% (p27 of band) | 10.81% |
| Unrealized securities loss / equity | -49.54% (p4 of band) | -8.10% |
| AOCI / equity | -2.04% (p8 of band) | |
| ROA (annualized) | 1.16% (p43 of band) | 1.28% |
| Net interest margin | 3.26% (p18 of band) | 3.91% |
| Efficiency ratio | 63.76% (p58 of band) | |
| Noncurrent loans | 0.71% (p63 of band) | 0.43% |
| Net charge-offs (annualized) | 0.00% (p42 of band) | |
| Reserve coverage of noncurrent | 203.52% | |
| Real estate % of loans | 65% | |
| Construction % of loans | 30.84% (p38 of band) | |
| Auto loans | $3.0M (1.34% of loans; DQ 0.00%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p45 of band) | |
| Deposits YoY | 5.0% | |
| Employees | 50 | |

## Flags firing in the latest filing

- **capital falling** (`cap_falling`)
- **securities losses >30% of equity** (`cap_secloss`)

## 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 | 1 | capital falling |  |
| 2012-06 | 0 |  | capital falling |
| 2012-09 | 0 |  |  |
| 2012-12 | 0 |  |  |
| 2013-03 | 1 | capital falling |  |
| 2013-06 | 0 |  | capital falling |
| 2013-09 | 0 |  |  |
| 2013-12 | 0 |  |  |
| 2014-03 | 0 |  |  |
| 2014-06 | 0 |  |  |
| 2014-09 | 0 |  |  |
| 2014-12 | 0 |  |  |
| 2015-03 | 0 |  |  |
| 2015-06 | 0 |  |  |
| 2015-09 | 0 |  |  |
| 2015-12 | 0 |  |  |
| 2016-03 | 0 |  |  |
| 2016-06 | 1 | capital falling |  |
| 2016-09 | 0 |  | capital falling |
| 2016-12 | 0 |  |  |
| 2017-03 | 1 | capital falling |  |
| 2017-06 | 0 |  | capital falling |
| 2017-09 | 0 |  |  |
| 2017-12 | 0 |  |  |
| 2018-03 | 0 |  |  |
| 2018-06 | 0 |  |  |
| 2018-09 | 0 |  |  |
| 2018-12 | 3 | deposits shrinking, assets shrinking, uninsured deposits leaving |  |
| 2019-03 | 0 |  | deposits shrinking, assets shrinking, uninsured deposits leaving |
| 2019-06 | 0 |  |  |
| 2019-09 | 0 |  |  |
| 2019-12 | 0 |  |  |
| 2020-03 | 0 |  |  |
| 2020-06 | 1 | capital falling |  |
| 2020-09 | 1 |  |  |
| 2020-12 | 2 | uninsured deposits leaving |  |
| 2021-03 | 1 |  | uninsured deposits leaving |
| 2021-06 | 1 |  |  |
| 2021-09 | 1 |  |  |
| 2021-12 | 2 | NIM <2.5% |  |
| 2022-03 | 4 | AOCI drag >20% of equity, securities losses >30% of equity |  |
| 2022-06 | 3 |  | NIM <2.5% |
| 2022-09 | 2 |  | capital falling |
| 2022-12 | 2 |  |  |
| 2023-03 | 3 | NIM <2.5%, uninsured deposits leaving | AOCI drag >20% of equity |
| 2023-06 | 3 |  |  |
| 2023-09 | 3 | AOCI drag >20% of equity | uninsured deposits leaving |
| 2023-12 | 2 |  | AOCI drag >20% of equity |
| 2024-03 | 1 |  | NIM <2.5% |
| 2024-06 | 2 | NIM <2.5% |  |
| 2024-09 | 2 |  |  |
| 2024-12 | 1 |  | NIM <2.5% |
| 2025-03 | 1 |  |  |
| 2025-06 | 1 |  |  |
| 2025-09 | 2 | uninsured deposits leaving |  |
| 2025-12 | 3 | deposits shrinking |  |
| 2026-03 | 2 |  | deposits shrinking |
| 2026-06 | 2 | capital falling | uninsured deposits leaving |

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

- 2022-09-30 [Minnesota bank opens first Sioux Falls location - SiouxFalls.Business](https://news.google.com/rss/articles/CBMiggFBVV95cUxOQzBVTElSd25KWW1HMEhSYmJCS0JGdUsxSzBxVklHT1RnYmFyLXJ2U2dUNTZ3eTI5MnU0Z1kwUnNDMTlYRHk4Q2JOTVlKQVFueElJaEhtQjZUS2UtNE9lelhaS3UtdERwSjRiMmZCSUxJUmU1VnRCemt5X1JPeXRyMGtB?oc=5) · SiouxFalls.Business
- 2025-06-16 [First State Bank Southwest donates $280,000 to nonprofits - The Globe | Worthington, Minnesota](https://news.google.com/rss/articles/CBMilAFBVV95cUxPNWZzclJiSFZLb2pKb3dNeXRCRDc2N25sMGhQV2hWZ1E0eF9VdnRxYmhZLU1qZUxwaTBTcS1UU3hTaXN1Qzd0eGw1RjlGY1luTmlJUTd4OVVnSE8wdk1vc1c4OXhTSUNGQVh2WHhJUWZzVHFDS0JLRldqVDhlZm1FRzdEeUF6VF9meVd6dHpQdW9VU0Jy?oc=5) · The Globe | Worthington, Minnesota
- 2022-01-11 [Minnesota bank to add Sioux Falls branch - SiouxFalls.Business](https://news.google.com/rss/articles/CBMieEFVX3lxTE9ETUVVTDdUdWZ2WDAyTTJIMFg5SGc3aF95eWNOa1Vkd3pwN3hqMmhKcFU2NGdITmxWQi1GMW5lbDZ6RnNoam5GNEtGS2NaWkV3bC1DOHdBRjgxcVlOcEZ6cXFId0JWMTJoNkZXNFdpX212WGNEM0s0RQ?oc=5) · SiouxFalls.Business
- 2021-06-30 [Lonneman Promoted to Business Banker at First State Bank Southwest - The Globe | Worthington, Minnesota](https://news.google.com/rss/articles/CBMirwFBVV95cUxPb1YtdGRValJuV1ZXU2NHWnBpX2hCeElBYUE2UGlHTnJYb1RoS2x1Um9qTDNLRk9UQmRkVk9mMURHbmZ5b09TVzEwTk14aHBDWFk3VjNoZC1WaEphaElkT1A3aGFMNS1RSnZOQU41UEJPWjBFV2lsa0UtRXo0MG5YN3V5ejgxODIxYVlZN1FXN1BQLTlpbmhwY0M4YW5qRzNTS2JZQjV2VkJVV3JxcFV3?oc=5) · The Globe | Worthington, Minnesota
- 2023-03-15 [First State Bank Southwest hired Jeremy Balster as Business Banker in the Worthington office. - The Globe | Worthington, Minnesota](https://news.google.com/rss/articles/CBMilwJBVV95cUxNQnhGVjRBY0hJaE9TMHJZYTJLdmFVWXJyUFBZdHlqRUNxX0d4M2J0OG9UZ2VqSVRrTnpFZ3BpMlhvTDVpQUlpZ1lBUGVtNGNVajd1bkw3RzFIX3F3MF9hMDl4ZW5Fempjdlo1Umo4WG5XZXZ1NUlTUHBBN1liYy13MEJJUDFGdzJkS0xuRXBQQ1lxODVmSUlsSGNNZmdFQTBSbUVHWGx2YUlaa3Z0dUZMdkVhZG1WZ2VZOVhZaTZRRDNseFUydDA3bk1DdV81ak55eFhTamVOYl96TzJRVHNUOEZjZGd0MnJYMFFlQnptcjlzaVFFSzc0UmJEQ3JlMEtIeVlPOXhQMDY3OEZiVTg4U3RVZFVMc1E?oc=5) · The Globe | Worthington, Minnesota
- 2024-09-11 [First State Bank Southwest is excited to announce the appointment of two new board members - The Globe | Worthington, Minnesota](https://news.google.com/rss/articles/CBMilAJBVV95cUxNcEtRWXpOUlZNSE9yaGpPTTFrNzJZbXBBbFRsdnhkUFpHNUZLT2ZqdVY4Mi1EbTI1R2RabDlidWozendpOTdrQXI4Tm9SMnZiSzl5U0hkWEc3UmxzUk4wb1NzUHUyTkZHUzhrS0g3Ymp4RlRzQXdxY1hJN3ZMOTk1YTk1bVRNaVYxQ1RCOHMwQ2VuWWc4TGhENF9mVGRReC1qQ2tOT2xkRnlDVFFvVmp3b2NaWmxjRjF6MUpXOHE2TVlhWXJwTzNQR3RKQzJQWW9GaGZvcnByakFIS3RmYThIZUpNY2FobnlYUWhiejBrd1VCbUZOMDlfVEtja281WWhzUEwwSlhrVUVPMHdOeEdCX1dNbEM?oc=5) · The Globe | Worthington, Minnesota
- 2017-11-04 [First State Bank Southwest adds Dahlquist to mortgage team - The Globe | Worthington, Minnesota](https://news.google.com/rss/articles/CBMilAFBVV95cUxOdmxEdEtKUDF5N2UyNnk1dTRWYzNXZVV4emVkdzVqTWdwdk9Zay1aQnlWX1NwNlh1RkdQTG9MZWJmSFNFMnRzNmtnaUdHelgyTUN2MzBqalFYTy0ycVZBeUlkVVJnZkhucFJEeGdGalpDTjMyalRUdF9NcjU3cUZHYy16eEpQMTdDc29pbjNBemNqaTNN?oc=5) · The Globe | Worthington, Minnesota
- 2020-02-29 [First State Bank Southwest Announces Promotions - The Globe | Worthington, Minnesota](https://news.google.com/rss/articles/CBMilgFBVV95cUxQU0NKRlJPUFhIX3phYWhEMEVRTEhuUXBPalgxSjJOaXU0bkVMTDMxQjNXWVlTMlh1Q0xHWlVvTXhpZm4tc2U4MHNLNlJhQjBHeE1SazFRMDlEbm9RZW9uUGRwaWt3U1lGa0N2bEpza0QzM2RlTU9ENUpTR0tzRmkzbzRnN1VPNElTTGVwblh0dHFDLXRWLUE?oc=5) · The Globe | Worthington, Minnesota

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=9770 (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/42.json (key "9770", 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