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Midwest Bank


TODAY'S FEATURED RATES
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
4.00%
Our Rating
4.2  / 5
CIT Bank
Platinum Savings
See Offer
Sponsored Note: Earn more with a min. balance of $5K. Savings starts at $100. FDIC Insured.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
3.80%
Our Rating
4.2  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: +0.20% boost to 4.00% for up to 6 months on new accounts with eligible direct deposit. Terms apply.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
3.60%
Our Rating
4.3  / 5
American Express
American Express® High Yield Savings Account
See Offer
Sponsored Note: Interest compounds daily, deposited monthly
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
3.50%
Our Rating
4.4  / 5
Capital One
360 Performance Savings
See Offer
Sponsored Note: It only takes about 5 minutes to open a fee-free account. Member FDIC.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
4.44%
Our Rating
4.3  / 5
Peak Bank
Envision High Yield Savings
See Offer
Sponsored Note: Member FDIC: Insured up to $250,000. $100 Deposit Earns Interest Immediately.
Member FDIC
Bonus Amount
up to $300
Our Rating
4.2  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!
Overview / Commentary
www.midwestbank.net
218-847-4771
613 Hwy. 10 E.
Detroit Lakes, MN 56502-0703

Midwest Bank is headquartered in DETROIT LAKES and is the 26th largest bank in the state of Minnesota. It is also the 1,246th largest bank in the nation. It was established in 1917 and as of March of 2025, it had grown to 97 employees at 7 locations. Midwest Bank has an A+ health rating.

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Health
A+

Data as of Q1 2025

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #9737
Year Established1917
Employees97
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD2.02%
Return on Equity - YTD19.87%
Annual Interest Income$12.4MM
Assets and Liabilities
AssetsQ1 2025vs Q1 2024$801.4MM$730MM
LoansQ1 2025vs Q1 2024$699MM$598.9MM
DepositsQ1 2025vs Q1 2024$692.4MM$623.4MM
Equity CapitalQ1 2025vs Q1 2024$83.6MM$74.1MM
Loan Loss AllowanceQ1 2025vs Q1 2024$6MM$5.3MM
Unbacked Noncurrent LoansQ1 2025vs Q1 2024$114K$15K
Real Estate OwnedQ1 2025vs Q1 2024$0$0
TODAY'S FEATURED RATES
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
4.00%
Our Rating
4.2  / 5
CIT Bank
Platinum Savings
See Offer
Sponsored Note: Earn more with a min. balance of $5K. Savings starts at $100. FDIC Insured.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
3.80%
Our Rating
4.2  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: +0.20% boost to 4.00% for up to 6 months on new accounts with eligible direct deposit. Terms apply.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
3.60%
Our Rating
4.3  / 5
American Express
American Express® High Yield Savings Account
See Offer
Sponsored Note: Interest compounds daily, deposited monthly
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
3.50%
Our Rating
4.4  / 5
Capital One
360 Performance Savings
See Offer
Sponsored Note: It only takes about 5 minutes to open a fee-free account. Member FDIC.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
4.44%
Our Rating
4.3  / 5
Peak Bank
Envision High Yield Savings
See Offer
Sponsored Note: Member FDIC: Insured up to $250,000. $100 Deposit Earns Interest Immediately.
Member FDIC
Bonus Amount
up to $300
Our Rating
4.2  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!
Rates

Sorry, we do not have rate data for Midwest Bank.

Locations


Midwest Bank Locations
Parkers Prairie Branch105 East Soo StreetParkers Prairie, MN 56361
Dalton Branch108 West Main StreetDalton, MN 56324
Waubun Branch1211 First StreetWaubun, MN 56589
Detroit Lakes Wal-Mart Branch1583 Highway 10 WestDetroit Lakes, MN 56501
Barnesville Branch215 Front Street SouthBarnesville, MN 56514
Callaway Branch421 Main AvenueCallaway, MN 56521
Midwest Bank613 Highway 10 EDetroit Lakes, MN 56501

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