Avon State Bank, Financial Information

Terms and Definitions

• Domestic deposits

  The sum of all domestic deposits, including demand deposits, money market deposits and time deposits.
• Equity capital

  Total equity capital (includes preferred and common stock, surplus and undivided profits).
• ROA

  Return on assets, net income after taxes and extraordinary items (annualized) as a percent of average total assets.
• ROE

  Return on equity, annualized net income as a percent of average equity on a consolidated basis.

The Avon State Bank has stood the test of time since 1907. Avon State Bank was chartered and incorporated July 1, 1907 with initial capital of $12,000 by three directors (C. Borgerding, Pres of Belgrade, Henry Borgerding of Melrose, and C.C. Schoener of Melrose).

In 1979 Avon Bancshares, Inc. (a one bank holding company) was formed which then became the major stockholder of Avon State Bank. As many as 20 other individuals owned shares in Avon State Bank until December 1998 when Avon Bancshares, Inc. owned 100% of Avon State Bank. Employees are the major shareholder of Avon Bancshares, Inc. through the Avon State Bank Employee Stock Ownership Plan & Trust (ESOP).

Th The Avon State Bank offers Certificates of Deposit, Checking Accounts, Savings Plans, Loans, Credit Cards, Debit / Check Cards, Insurance, IRAs & Retirement Plans, Safe Deposit Boxes, Other Services.

Avon State Bank
104 Avon Avenue North
P.O. Box 8
Avon, MN 56310-0008

Phone: (320) 356-7334
Toll free: 1-800-365-7334
Fax: (320) 356-7328