Midwest Bank - Detroit Lakes

613 Hwy 10 East
Detroit Lakes, MN 56502
(218) 847-4771
www.midwestbank.net

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Midwest Bank - Detroit Lakes is headquartered in Detroit Lakes and is the 53^rd largest bank in the state of Minnesota. It is also the 2,260^th largest bank in the nation. It was established in 1917 and as of September of 2011, it had grown to 78 employees at 7 locations. Midwest Bank - Detroit Lakes' savings rates are 3X the national average, and it has a 4-star health rating.

4.01% Reward Checking For Up To $25K At Midwest Bank In Minnesota (Forum) - 7/2/2010

Midwest Bank in Minnesota is offering a decent reward checking account (as of 1/11/2011) 4.01% APY up to $25K 0.50% APY for above automatic surcharges refund up to $5/time Monthly requirements: 10 debit card Point of Sale (POS) transactions per s

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See Rates for: Checking | Savings | Money Market | CD | IRA

Midwest Bank - Detroit Lakes Checking Account Rates

Apy	Min	Max	Product
2.05%	-	$25k	Midwest Rewards Checking - Qualifying
0.50%	-	-	Midwest HSA Checking
0.40%	$100k	-	Midwest Interest Checking
0.20%	-	-	Midwest Rewards Checking - Non Qualifying
0.20%	$500	-	Midwest Advantage Checking
0.20%	$500	-	Midwest Advantage Plus Checking

Midwest Bank - Detroit Lakes Savings Account Rates

Apy	Min	Max	Product
1.80%	-	-	Midwest IRA Savings
0.15%	-	-	Midwest Savings
0.15%	-	-	Midwest Young Savers

Midwest Bank - Detroit Lakes Money Market Rates

	Apy	Min	Max	Product
	0.60%	$500k	$1m	Midwest Money Market Savings

Midwest Bank - Detroit Lakes CD Rates

Apy	Min	Max	Product
2.60%	$5k	-	54 Month CD Special
2.50%	$25k	-	$25K 60 Month CD
2.35%	$1k	-	60 Month CD
2.15%	$25k	-	$25K 48 Month CD
2.00%	$1k	-	48 Month CD
1.75%	$25k	-	$25K 36 Month CD
1.60%	$1k	-	36 Month CD
1.40%	$1k	-	30 Month CD
1.30%	$1k	-	30 Month CD Adjust a Rate
1.25%	$25k	-	$25K 24 Month CD
1.10%	$1k	-	24 Month CD
1.00%	$25k	-	$25K 12 Month CD
0.85%	$1k	-	12 Month CD
0.50%	$1k	-	182 Day CD
0.25%	$1k	-	91 Day CD

Midwest Bank - Detroit Lakes IRA Rates

Apy	Min	Max	Product
2.35%	$1k	-	5 Year IRA
2.35%	$1k	-	5 Year Roth IRA
2.35%	$1k	-	5 Year CESA
2.00%	$1k	-	4 Year IRA
2.00%	$1k	-	4 Year Roth IRA
2.00%	$1k	-	4 Year CESA
1.60%	$1k	-	3 Year IRA
1.60%	$1k	-	3 Year Roth IRA
1.60%	$1k	-	3 Year CESA
1.10%	$1k	-	2 Year IRA
1.10%	$1k	-	2 Year Roth IRA
1.10%	$1k	-	2 Year CESA
0.85%	$1k	-	1 Year IRA
0.85%	$1k	-	1 Year Roth IRA
0.85%	$1k	-	1 Year CESA

Rates updated: 2/11/2012

Data for Q3 2011

Institution Statistics

Midwest Bank
FDIC Certificate #	9737
BankRate Report	View
Year Established	1917
Employees	78
Primary Regulator	FDIC
Assets and Liabilities
Assets	$284.87 million
Loans	$238.21 million
Deposits	$250.54 million
Equity Capital	$26.29 million
Loan Loss Allowance	$2.74 million
Unbacked Noncurrent Loans	$688,000
Real Estate Owned	$4.58 million
Historic Data - September 2010
Assets	$255.09 million
Equity Capital	$25.11 million
Loan Loss Allowance	$3.00 million
Unbacked Noncurrent Loans	$1.66 million
Real Estate Owned	$4.29 million
Profit Margin - Quarterly
Net Interest Margin	4.69%
Return on Assets	2.26%
Return on Equity	24.6%
Interest Income	$11.41 million

Institution Health

Overall Score:

4 out of 5

Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 Midwest Bank - Detroit Lakes had $5.27 million in non-current loans and owned real-estate with $29.02 million in equity and loan loss allowances on hand to cover it. This gives Midwest Bank - Detroit Lakes a Texas Ratio of 18.15% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Midwest Bank - Detroit Lakes held steady from 21.16% as of September 30, 2010 to 18.15% as of September 30, 2011, resulting in a positive change of 14.22%.This indicates that the balance sheet and financial strength for Midwest Bank - Detroit Lakes has held steady in recent periods.
Deposit Growth
In the past year, Midwest Bank - Detroit Lakes has increased its total deposits by $31.44 million, resulting in 14.35% 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 Midwest Bank - Detroit Lakes has shown is excellent.
Capitalization
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. Midwest Bank - Detroit Lakes has $284.87 million in assets with $29.02 million in equity, resulting in a capitalization level of 10.19%, which is above average.