This institution is no longer active

Operations ceased on April 1, 2002. CRA examination history below reflects the period it was active.

MOUNTAIN IRON FIRST STATE BANK

MOUNTAIN IRON, MN · Supervised by FDIC

Est. 1916FDIC #1,928RSSD: FDIC-1928

Part ofMESABA BANCSHARES INC→ View all charters

Outstanding Same

Current rating · Exam: December 1999

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At a Glance

Community Lending (CRA)

Outstanding

Exceeds federal requirements for lending in low- and moderate-income communities

Financial Health

Strong

ROA 1.81%

Is this bank safe?

MOUNTAIN IRON FIRST STATE BANK earned an Outstanding CRA rating (1999), is financially strong (ROA +1.81%). Overall, this bank appears financially sound.

Institution Profile

FDIC BankFind

Address

8401 8th Street South, MOUNTAIN IRON, MN

County

St. Louis County

Established

November 11, 1916

Total Assets

$81M(latest call report)

Community Reinvestment Rating

CRA / FFIEC

Federal regulators examine banks to ensure they lend and invest in the communities they serve, especially low- and moderate-income areas.

Overall Rating

Outstanding

Exceeds federal requirements for lending in low- and moderate-income communities

Exam Date

December 1, 1999

Exam Type

Small Bank

Regulator

FDIC

What is a CRA rating? →

⚠️This exam is 26 years old — CRA data may not reflect current lending practices. Regulators typically re-examine banks every 2–4 years.

Estimated next exam:Overdue(based on asset size)

Financial Snapshot

As of Q1 2002Call Report / FDIC

Total Assets

$81M

Total Deposits

$70M

Net Loans

$74M

Net Income

$369K

ROA

1.81%

Above avg for Small banks. Peer avg: 0.44%

ROE

23.48%

Risk-Based Capital

11.67%

Below avg for Small banks. Regulatory min: 8%

Total Assets — Last 8 Quarters

Total AssetsROA

Peer Comparison

Small banks

Compared to the peer-bank Small peer group (same asset tier).

ROA1.81%Peer avg: 0.44%▲ Above avg

Risk-Based Capital11.67%Peer avg: 23.03%▼ Below avg

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Rating History

CRA / FFIEC

Exam Date	Rating	Exam Type
Dec 1999	Outstanding	Small Bank
Dec 1996	Outstanding	Small Bank
Jun 1994	Satisfactory	Not Reported

2 previous ratings locked — back to 1991

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Rating Over Time

🔒 Locked

OutstandingSatisfactoryNeeds to ImproveSubst. Noncompliance

Exam dates and details are paywalled

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