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1525 18th Street
Spirit Lake, IA 51360

Bank Midwest is headquartered in Spirit Lake and is the 18st largest bank in the state of Iowa. It is also the 978th largest bank in the nation. It was established in 1887 and as of March of 2014, it had grown to 181 employees at 10 locations. Bank Midwest has a B+ health rating.

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Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Bank Midwest had $4.08 million in non-current loans and owned real-estate with $82.1 million in equity and loan loss allowances on hand to cover it. This gives Bank Midwest a Texas Ratio of 4.97% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Bank Midwest experienced no significant changes from 4.56% as of March 31, 2013 to 4.97% as of March 31, 2014, resulting in a negative change of 9.17%. This indicates that the balance sheet and financial strength for Bank Midwest has had no significant changes in recent periods.

Deposit Growth


In the past year, Bank Midwest has decreased its total deposits by -$7.56 million, resulting in -1.27% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Bank Midwest has shown is average.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Bank Midwest has $695.15 million in assets with $82.1 million in equity, resulting in a capitalization level of 11.81%, which is excellent.

Institution Statistics

FDIC Certificate #5170
Year Established1887
Primary RegulatorFED
Assets and Liabilities
Assets$695.15 million
Loans$505.85 million
Deposits$588.18 million
Equity Capital$74.87 million
Loan Loss Allowance$7.23 million
Unbacked Noncurrent Loans$1.10 million
Real Estate Owned$2.98 million
Historic Data - March 2013
Assets$704.23 million
Equity Capital$72.93 million
Loan Loss Allowance$6.47 million
Unbacked Noncurrent Loans$1.10 million
Real Estate Owned$62,000
Profit Margin - Quarterly
Net Interest Margin4.21%
Return on Assets1.39%
Return on Equity13.17%
Interest Income$7.06 million
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Bank Midwest Savings Account Rates

0.25%$25k-Variable Rate IRA Savings
0.25%$25k-Variable Rate Roth IRA Savings
0.10%--Onederful Savings - Qualifying
0.05%$100-Statement Savings
0.05%--Health Savings Account
0.05%--Onederful Savings - Non Qualifying

Bank Midwest Checking Account Rates

1.11%-$10kGreat Rewards Checking - Qualifying
0.20%$500k-Business Interest Checking
0.05%--Great Rewards Checking - Non Qualifying

Bank Midwest CD Rates

1.60%$250k-60 Month CD
1.35%$250k-48 Month CD
1.10%$250k-36 Month CD
0.70%$250k-30 Month CD
0.50%$250k-24 Month CD
0.40%$250k-18 Month CD
0.30%$250k-12 Month CD
0.25%$250k-182 Day CD
0.20%$250k-91 Day CD

Bank Midwest Locations
Wall Lake Branch102 West Second StreetWall Lake, IA 51466
Okoboji Branch1102 Sanborn AvenueOkoboji, IA 51355
Fairmont Branch118 Downtown PlazaFairmont, MN 56031
Bank Midwest1525 18th StreetSpirit Lake, IA 51360
Windom Branch245 Ninth StreetWindom, MN 56101
New Ulm Branch26 South BroadwayNew Ulm, MN 56073
Sherburn Branch33 North Main StreetSherburn, MN 56171
Jackson Branch509 Third StreetJackson, MN 56143
Westbrook Branch640 First AvenueWestbrook, MN 56183
Armstrong BranchMain StreetArmstrong, IA 50514