First Independent Bank
Russell, MN · Owner: Finlayson Bancshares Inc
$632M
total assets, June 30, 2026
$632M
total assets, June 30, 2026
First Independent Bank is a state nonmember bank based in Russell, MN, owned by Finlayson Bancshares Inc. As of June 30, 2026 it held $632.3 million in assets and $533.0 million in deposits; assets were up 15.7% from a year before. It has 12 branches.
Updated Oct 11, 2026 · numbers as of June 30, 2026
Total assets
$632M
+15.7% in a year · -0.3% in a quarter
Deposits
$533M
+19.1% in a year · -0.8% in a quarter
Loans
$443M
+22.6% in a year · +3.9% in a quarter
Profit so far
$4.8M
Jan 1 to Jun 30, 2026 · +47.7% in a year
Capital ratio
9.87%
+0.82 pts in a year
Return on assets
1.55%
+0.32 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 300 Front St, Russell, MN, 56169
- County
- Lyon
- Holding company
- Finlayson Bancshares Inc
- Established
- Jan 1, 1903
- Employees
- 90
- Branches
- 12
- Website
- www.fibmn.com
- Id
- b1900
Quarter by quarter
March 31, 1984 to June 30, 2026
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Branches
12 offices as of June 30, 2026, holding $533.0 million in deposits
Branch map
Every branch, sized by its deposits
| State | Branches | Deposits | Share |
|---|---|---|---|
| Minnesota | 12 | $533M | 100.0% |
| Largest branches | Place | Deposits |
|---|---|---|
| Marshall Branch | Marshall, MN | $137M |
| First Independent Bank (main office) | Russell, MN | $91.2M |
| State Bank Of Lucan Branch | Lucan, MN | $50.1M |
| Balaton Branch | Balaton, MN | $46.3M |
| Tyler Branch | Tyler, MN | $38.9M |
| First Security Bank Branch | Hendricks, MN | $35.4M |
| Cottonwood Branch | Cottonwood, MN | $33.2M |
| Main Street - Ruthton Branch | Ruthton, MN | $30.9M |
| Wood Lake Branch | Wood Lake, MN | $26.3M |
| Beardsley Branch | Beardsley, MN | $24.0M |
Related pages
Questions and answers
How big is First Independent Bank?
$632.3 million in total assets and $533.0 million in deposits as of June 30, 2026, with assets up 15.7% from a year before. Its loans were $443.4 million.
How many branches does First Independent Bank have?
12 branches in Minnesota as of June 30, 2026.
Is First Independent Bank profitable?
Yes: it earned $4.83 million from January 1 to June 30, 2026 (up 47.7% from the same months a year before). Its return on assets was 1.55% a year; about 1% is typical.
Who owns First Independent Bank?
First Independent Bank is owned by Finlayson Bancshares Inc, its holding company.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.