First State Bank Southwest
Pipestone, MN · Owner: First STB SW Ksop Plan & TR
$410M
total assets, June 30, 2026
$410M
total assets, June 30, 2026
First State Bank Southwest is a state member bank based in Pipestone, MN, owned by First STB SW Ksop Plan & TR. As of June 30, 2026 it held $409.9 million in assets and $350.8 million in deposits; assets were up 4.8% from a year before. It has 6 branches in 2 states.
Updated Oct 11, 2026 · numbers as of June 30, 2026
Total assets
$410M
+4.8% in a year · +3.7% in a quarter
Deposits
$351M
+5.0% in a year · +4.5% in a quarter
Loans
$224M
+3.0% in a year · +2.8% in a quarter
Profit so far
$2.3M
Jan 1 to Jun 30, 2026 · +49.4% in a year
Capital ratio
9.69%
+0.20 pts in a year
Return on assets
1.16%
+0.37 pts in a year
Facts
- Type
- State member bank
- Head office
- 202 2nd St Se, Pipestone, MN, 56164
- County
- Pipestone
- Holding company
- First STB SW Ksop Plan & TR
- Established
- Jan 1, 1903
- Employees
- 50
- Branches
- 6 in 2 states
- Website
- www.firststatebanksw.com
- Id
- b9770
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
6 offices as of June 30, 2026, holding $350.8 million in deposits
Branch map
Every branch, sized by its deposits
| State | Branches | Deposits | Share |
|---|---|---|---|
| Minnesota | 5 | $341M | 97.3% |
| South Dakota | 1 | $9.6M | 2.7% |
| Largest branches | Place | Deposits |
|---|---|---|
| Worthington Branch | Worthington, MN | $195M |
| Edgerton Branch | Edgerton, MN | $76.3M |
| First State Bank Southwest (main office) | Pipestone, MN | $34.1M |
| Rushmore Branch | Rushmore, MN | $25.4M |
| Leota Branch | Edgerton, MN | $10.5M |
| Sioux Falls Branch | Sioux Falls, SD | $9.6M |
Related pages
Questions and answers
How big is First State Bank Southwest?
$409.9 million in total assets and $350.8 million in deposits as of June 30, 2026, with assets up 4.8% from a year before. Its loans were $224.2 million.
How many branches does First State Bank Southwest have?
6 branches in 2 states as of June 30, 2026. The most deposits are in Minnesota ($341.1 million).
Is First State Bank Southwest profitable?
Yes: it earned $2.32 million from January 1 to June 30, 2026 (up 49.4% from the same months a year before). Its return on assets was 1.16% a year; about 1% is typical.
Who owns First State Bank Southwest?
First State Bank Southwest is owned by First STB SW Ksop Plan & TR, 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.