FM Bank
Headquartered in Waseca, MN. Part of Independent Bancshares, Inc. FDIC certificate #10998 · Federal Reserve RSSD 20857.
Total assets
$703M
Deposits
$627M
Q1 2026
Active branches
6
Closings since Jan 2020
1
1 openings since Jan 2020
Financial snapshot — Q1 2026
All quarters →Net income (quarter)
$3M
Return on assets
1.43%
Return on equity
18.21%
Noncurrent loan rate
0.02%
Deposits by year (Summary of Deposits)
02019
02020
02021
02022
12023
12024
12025
Values in $ billions, June 30 of each year.
Closings by year
12021
Openings by year
12023
Other network changes since 2020
- 2 branch relocations
- 5 branches acquired through purchases or mergers
- June 25, 2021: legal name changed from “Granite Falls Bank” to “FM Bank”
Branches by state
Recent closings
- FM Bank — Renville, MNbank exits city412 NORTH MAIN STREET · closed June 25, 2021
All figures transcribed from FDIC BankFind Suite records: structure-change history, quarterly financial reports and the annual Summary of Deposits · bank site: mybankfm.com.