US Bank Directory
Banks in Tofte, MN
1 FDIC-insured bank operates 1 office in Tofte, Minnesota.
Source: FDIC BankFind, data as of September 5, 2026.
Bank branch map: Tofte
Banks sit at the coordinates in their FDIC record; credit union offices at their NCUA address, located with the U.S. Census Bureau Geocoder. Point at a marker for today's hours, tap it for the address, directions and the bank's site.
Short answer: 1 institution operates 1 location in Tofte, according to the FDIC. 1 of them has coordinates on record and is on the map. ATMs and opening hours are not in the sources this page uses yet; each marker links to directions.
Branches: FDIC, NCUA. Streets: loading.
1 location on the map
Tap a cluster to zoom in
Positions are the regulators' own coordinates, or the Census Geocoder's point for the address, and can sit a few hundred feet from the door. Streets, buildings and parks come from OpenStreetMap through OpenFreeMap, with every street named as you zoom in; if that map cannot load, a simpler map drawn from the Census Bureau's TIGER/Line files takes its place. ATMs will follow with the Overture Maps import.
All banks in Tofte
Sorted by number of local branches. Each branch shows where its hours and phone number come from.
Short answer: Grand Marais State Bank is the only bank with an office in Tofte. Open any bank to see each address, today's hours where the bank publishes them and the phone number.
Grand Marais State Bank Bank · 1
Grand Marais State Bank has 1 branch in Tofte, 5 across Minnesota and 5 nationwide. FDIC records list its main office in Grand Marais, MN and show it operating since 1916. With $207.2 million in total assets on June 30, 2026, it ranks No. 2,944 of 4,232 U.S. banks by total assets. The Tofte Branch at 4 Johannes Lane dates to 1985 in FDIC branch records. It does not publish hours in the sources this page uses; check its site before you go.
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Tofte Branch4 Johannes Lane, 55615
Banking in Tofte: the local picture
Short answer: 1 bank runs 1 branch in Tofte according to the FDIC. A population estimate for this place is not available from the Census Bureau, so branches per resident are not shown.
Grand Marais State Bank has its main office in Grand Marais, MN, according to the FDIC.
The bank with the longest record here is Grand Marais State Bank, operating since 1916 according to the FDIC.
The one location here does not publish hours in the sources this page uses. Each branch links to the bank's own site.
Chase, Bank of America and other national banks
Which big national banks have branches in Tofte, and where the nearest one is if they do not.
Short answer: No branches in Tofte: Chase (nearest in Forest Lake, 201 mi), Wells Fargo (nearest in Ely, 49 mi), Bank of America (nearest in Blaine, 212 mi), PNC Bank, U.S. Bank (nearest in Virginia, 81 mi), Truist, Fifth Third Bank, Huntington (nearest in Duluth, 88 mi), Regions Bank, TD Bank, BMO (nearest in Little Falls, 208 mi).
| Bank | In Tofte | Nearest branch if none here |
|---|---|---|
| Chase | None | Forest Lake, 201 miles away |
| Wells Fargo | None | Ely, 49 miles away |
| Bank of America | None | Blaine, 212 miles away |
| PNC Bank | None | none in Minnesota |
| U.S. Bank | None | Virginia, 81 miles away |
| Truist | None | none in Minnesota |
| Fifth Third Bank | None | none in Minnesota |
| Huntington | None | Duluth, 88 miles away |
| Regions Bank | None | none in Minnesota |
| TD Bank | None | none in Minnesota |
| BMO | None | Little Falls, 208 miles away |
Branch counts from FDIC BankFind as of September 5, 2026. Distances are straight-line miles from the center of Tofte to the nearest branch in Minnesota.
What your savings could earn
National benchmarks and the best published offers, from the Banrox Bank Rates tracker. Enter your own balance and rate to compare.
Short answer: At the national average savings rate of 0.38%, $10,000 kept in savings for a year earns about $38. The best published savings rate in the tracker, 3.75% at CIT Bank, earns about $375. The national average 12-month CD pays 1.71%.
| Offer | Bank | APY | Term | Minimum |
|---|---|---|---|---|
| Savings | CIT Bank | 3.75% | none | $5,000 |
| Savings | Barclays | 3.50% | none | $0 |
| Savings | Marcus by Goldman Sachs | 3.40% | none | $0 |
| CD | Synchrony Bank | 4.35% | 60 Months | $0 |
| CD | Marcus by Goldman Sachs | 4.35% | 24 Months | $500 |
| CD | American Express National Bank | 4.25% | 10 Months | $0 |
Rates are the banks' published APYs as tracked on the Banrox Bank Rates page, with the date next to each benchmark; they are not offers from Banrox and can change daily. Interest is before tax. The best offers are mostly online banks and are open to Tofte residents like anyone else.
Banks near Tofte
Nearby cities with at least two banks, by straight-line distance. Counts from FDIC BankFind.
Short answer: The closest towns with more choice are Grand Marais (23 miles) and Ely (49 miles). Duluth, 91 miles away, has the most banks nearby: 10.
| City | Distance | Banks | Branches |
|---|---|---|---|
| Banks in Grand Marais, MN | 23 mi | 2 | 2 |
| Banks in Ely, MN | 49 mi | 3 | 3 |
| Banks in Two Harbors, MN | 65 mi | 2 | 2 |
| Banks in Virginia, MN | 81 mi | 5 | 6 |
| Banks in Duluth, MN | 91 mi | 10 | 27 |
| Banks in Hermantown, MN | 92 mi | 5 | 5 |
| Banks in Hibbing, MN | 101 mi | 5 | 5 |
| Banks in Cloquet, MN | 105 mi | 5 | 5 |
Bank branch openings and closings in Tofte
FDIC branch records, between September 5, 2025 and September 5, 2026.
Short answer: FDIC branch records show no bank branch openings in Tofte between September 5, 2025 and September 5, 2026. Closings and relocations are not tracked by the sources this page uses yet.
Largest banks in Tofte by total assets
Ranked by each bank's total assets on its FDIC balance sheet, which covers the whole bank, not only its Tofte offices.
Short answer: Grand Marais State Bank is the largest bank with offices in Tofte, with $207.2 million in total assets on June 30, 2026, No. 2,944 among U.S. banks by total assets. Local deposit shares will follow once the FDIC Summary of Deposits is imported.
| Bank | Total assets | Rank | Offices here | Main office |
|---|---|---|---|---|
| Grand Marais State Bank | $207.2 million | No. 2,944 | 1 | Grand Marais, MN |
Total assets and ranks from FDIC BankFind as of June 30, 2026. Rank is among active banks that report total assets to the FDIC.
Banks in Tofte: FAQ
How many banks are in Tofte, MN?
Tofte has 1 bank with 1 branch, according to FDIC data as of September 5, 2026.
Is there a Grand Marais State Bank in Tofte, MN?
Yes. FDIC data lists 1 Grand Marais State Bank branch in Tofte as of September 5, 2026. The address and directions are under Grand Marais State Bank above.
Is there a Chase in Tofte, MN?
No. FDIC data lists no Chase branch in Tofte as of September 5, 2026. The nearest is in Forest Lake, about 201 miles away in a straight line.
What is the oldest bank in Tofte?
Grand Marais State Bank has the longest record among banks with a branch here: the FDIC shows it operating since 1916.
Did any bank branches open or close in Tofte in the past year?
FDIC branch records show no branch openings between September 5, 2025 and September 5, 2026. Closings and relocations are not tracked by the sources this page uses yet.
Where can I find more banks near Tofte?
Nearby cities with more banks include Grand Marais, Ely, Two Harbors. Grand Marais is 23 miles away with 2 banks.
How we build this page
Every figure above comes from one of these sources. Nothing is typed by hand, nothing is estimated.
| Data | Source | License | Updated | Data as of |
|---|---|---|---|---|
| FDIC-insured banks: branches, main offices, total assets, dates established | FDIC BankFind Suite API | Public data (U.S. government) | Monthly import | Sep 5, 2026 |
| Savings and CD rates, national averages | Banrox Bank Rates | Banrox, from the banks' own rate pages and FDIC national rates | Weekly | see each rate |
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