Heritage Bank National Association


Heritage Bank National Association is an FDIC insured institution headquartered at 110 W South St, Spicer, MN 56288.
It was founded in 1964 and has approximately $1 billion in assets. Customers can open an account at one of its 7 branches.

Deposit Rates - March 19, 2024

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 19254
Date Established 1964
Assets $ 555.70 million
Loans $ 484.55 million
Deposits $ 440.58 million
Capital $ 37.98 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 11.76 million
Interest-bearing balances $ 1.92 million
Total securities $ 36.60 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 484.55 million
Loan loss allowance $ 5.78 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.20 million
Goodwill and other intangibles $ 3.50 million
All other assets $ 11.33 million
     Total Assets $ 517.73 million

LIABILITIES
Total deposits $ 440.58 million
      Interest-bearing deposits $ 363.20 million
      Deposits held in domestic offices $ 440.58 million
      % insured (estimated) 84.63%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 38.67 million
Subordinated debt N.A.
All other liabilities $ 4.79 millionn
      Total Liabilities $ 517.73 million
      Shareholders’ Equity $ 37.98 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 22.77 million
Total Interest Expense $ 6.55 million
Net interest income $ 16.22 million
Provision for loan and lease losses $ 8.79 million
Total non interest income $ 0.75 million
Total non interest expense $ 12.51 million
Pre-tax Net Operating Income $ 3.21 million


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