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First Independent Bank
✓ FDIC-insured · Active FDIC Certificate #1900
First Independent Bank is an FDIC-insured state-chartered bank that is not a Federal Reserve member (supervised by the FDIC), headquartered in Russell, Minnesota, established in 1903. As of the 06/30/2026 FDIC call report, it reported $632M in total assets and $533M in deposits. FDIC location data lists 12 offices in Minnesota. The FDIC classifies it as a community bank. It is owned by the holding company FINLAYSON BANCSHARES INC (Finlayson, MN).
Financial data as of the 06/30/2026 FDIC call report.
Where it operates
All 12 of First Independent Bank's FDIC-listed offices are in Minnesota. Browse banks in Russell for other local options.
Branch locations
| First Independent Bank First Security Bank Branch · Full Service - Brick And Mortar | 113 S Main St Hendricks, MN 56136 Map ↗ |
| First Independent Bank State Bank Of Lucan Branch · Full Service - Brick And Mortar | 106 Main St Lucan, MN 56255 Map ↗ |
| First Independent Bank 176 South Broadway Branch · Full Service - Brick And Mortar | 176 Broadway St Vesta, MN 56292 Map ↗ |
| First Independent Bank First Independent Bank · Full Service - Brick And Mortar | 300 Front St Russell, MN 56169 Map ↗ |
| First Independent Bank Balaton Branch · Full Service - Brick And Mortar | 108 3rd St Balaton, MN 56115 Map ↗ |
| First Independent Bank Detached Facility · Limited Service - Drive Thru/Detached Facility | 101 N 1st St Hanley Falls, MN 56245 Map ↗ |
| First Independent Bank Marshall Branch · Full Service - Brick And Mortar | 105 Market St Marshall, MN 56258 Map ↗ |
| First Independent Bank Beardsley Branch · Full Service - Brick And Mortar | 101 Main St N Beardsley, MN 56211 Map ↗ |
| First Independent Bank Main Street - Ruthton Branch · Full Service - Brick And Mortar | Main Street Ruthton, MN 56170 Map ↗ |
| First Independent Bank Cottonwood Branch · Full Service - Brick And Mortar | 111 W Main St Cottonwood, MN 56229 Map ↗ |
| First Independent Bank Wood Lake Branch · Full Service - Brick And Mortar | 53 2nd Ave W Wood Lake, MN 56297 Map ↗ |
| First Independent Bank Tyler Branch · Full Service - Brick And Mortar | 111 N Tyler St Tyler, MN 56178 Map ↗ |
Holding company: FINLAYSON BANCSHARES INC
The FDIC lists FINLAYSON BANCSHARES INC, based in Finlayson, MN, as the top holding company for First Independent Bank. It also owns one other FDIC-insured bank:
- Northview Bank, Sandstone, MN ($470M in assets)
FDIC deposit insurance applies separately to each insured bank charter, even when they share a holding company. Confirm the charter before you spread deposits.
Similar-size banks in Minnesota
Active FDIC-insured banks headquartered in Minnesota with total assets closest to First Independent Bank's $632M. See all banks in Minnesota.
| Bank | HQ city | Assets | Offices |
|---|---|---|---|
| HomeTown Bank | Carver | $692M | 11 |
| Premier Bank Minnesota | Hastings | $691M | 12 |
| BankVista | Sartell | $651M | 3 |
| Scale Bank | Edina | $627M | 1 |
| American Heritage National Bank | Long Prairie | $605M | 7 |
| North Shore Bank of Commerce | Duluth | $599M | 7 |
| Citizens Bank Minnesota | New Ulm | $596M | 6 |
| WNB FINANCIAL, N.A. | Winona | $584M | 7 |
First Independent Bank: common questions
Is First Independent Bank FDIC-insured?
Yes. First Independent Bank is an active FDIC-insured institution, FDIC Certificate #1900. Deposits are insured up to $250,000 per depositor, per ownership category. You can confirm this on FDIC BankFind.
Where is First Independent Bank headquartered?
First Independent Bank is headquartered at 300 Front St, Russell, MN 56169, according to FDIC records.
How many branches does First Independent Bank have?
FDIC location data lists 12 offices for First Independent Bank, all in Minnesota.
Who owns First Independent Bank?
The FDIC lists FINLAYSON BANCSHARES INC of Finlayson, MN as the top holding company for First Independent Bank. The same holding company owns 1 other FDIC-insured bank.
Source: FDIC BankFind Suite (institution, location, and call report data). BankNearMe.com does not rank or rate banks.