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Security Bank & Trust Company


Security Bank & Trust Company is an FDIC insured institution headquartered at 735 11th St E, Glencoe, MN 55336.
It was founded in 1935 and has approximately $1 billion in assets. Customers can open an account at one of its 20 branches.

Deposit Rates - April 25, 2025

SAVINGS RATES APY MIN
SAV
1.00% $25,000 Compare
SAV
1.48% $100,000 Compare
CD RATES APY MIN
3 Mo CD
1.00% $1 Compare
3 Mo CD
2.52% $10,000 Compare
6 Mo CD
1.00% $1 Compare
6 Mo CD
3.90% $10,000 Compare
12 Mo CD
2.02% $1 Compare
12 Mo CD
3.85% $10,000 Compare
24 Mo CD
2.02% $1 Compare
24 Mo CD
2.78% $10,000 Compare
36 Mo CD
2.02% $1 Compare
36 Mo CD
2.52% $10,000 Compare
39 Mo CD
3.65% $1 Compare
39 Mo CD
3.65% $50,000 Compare
60 Mo CD
2.02% $1 Compare
60 Mo CD
2.52% $10,000 Compare
MM RATES APY MIN
Money Market
0.85% $2,500 Compare
Money Market
1.41% $100,000 Compare
INT CHECKING RATES APY MIN
INTCK
0.15% $25,000
INTCK
1.31% $2,500,000

Public Note:

Security Bank & Trust Company provides financial services for individuals, businesses, entrepreneurs, private banking clients, and non-profits. Our offerings include:

Checking & money market accounts
ACH & cash management services
Remote deposit capture
Merchant card services
Loans for working capital, equipment, and real estate
As a locally owned bank, we make decisions with your best interests in mind, offering personalized service and deep community knowledge to help you grow and thrive.

Member FDIC | Equal Housing Lender

February 6, 2025

Overview 2025

General Bank Information

FDIC Insured Yes
FDIC Certificate # 15324
Date Established 1935
Assets $ 1,181.26 million
Loans $ 849.71 million
Deposits $ 1,074.24 million
Capital $ 103.88 million

Summary Balance Sheet as of December 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 47.02 million
Interest-bearing balances $ 34.20 million
Total securities $ 253.08 million
Federal funds sold and reverse repurchase $ 1.65 million
Net loans and leases $ 849.71 million
Loan loss allowance $ 8.70 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.02 million
Goodwill and other intangibles $ 5.07 million
All other assets $ 5.31 million
     Total Assets $ 1,077.38 million

LIABILITIES
Total deposits $ 1,074.24 million
      Interest-bearing deposits $ 907.62 million
      Deposits held in domestic offices $ 1,074.24 million
      % insured (estimated)" 61.34%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 0.91 millionn
      Total Liabilities $ 1,077.38 million
      Shareholders’ Equity $ 103.88 million

Summary Income Statement as of December 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 58.74 million
Total Interest Expense $ 21.19 million
Net interest income $ 37.55 million
Provision for loan and lease losses $ 1.34 million
Total non interest income $ 5.52 million
Total non interest expense $ 26.27 million
Pre-tax Net Operating Income $ 5.37 million

Security Bank & Trust Company's History

Security Bank & Trust Co. was founded on October 10, 1935, as Security State Bank of Glencoe by Arthur W. Hoese. Starting from a single location, the bank expanded into the adjacent Gaines store in Glencoe before growing into neighboring communities through new branches and acquisitions.

Today, we continue to operate from our original Glencoe location, now joined by 20 additional branches across Minnesota. Our growth has been driven by the trust our customers place in us—entrusting us with their businesses, farms, savings, retirements, and everyday banking needs.

From Arthur Hoese to his son, Clayton Hoese, and now our current CEO, Gale Hoese, the Hoese family has led the bank with the same core values since day one: personal relationships, trust, and community involvement. We are proud to grow alongside the success of the customers and communities we serve.

*Should any logos, images or public notes appear on this page,they do so courtesy of Security Bank & Trust Company and are not subject to approval of RatesAndInfo.com. RatesAndInfo.com expressly disclaims all responsibility for this content.

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