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613 Highway 10 East
Detroit Lakes, MN 56501

Midwest Bank is headquartered in Detroit Lakes and is the 40th largest bank in the state of Minnesota. It is also the 1,948th largest bank in the nation. It was established in 1917 and as of March of 2014, it had grown to 78 employees at 7 locations. Midwest Bank's savings rates are 92% higher than the national average, and it has a A 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 Midwest Bank had $2.04 million in non-current loans and owned real-estate with $35.67 million in equity and loan loss allowances on hand to cover it. This gives Midwest Bank a Texas Ratio of 5.72% 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 Midwest Bank decreased dramatically from 9.53% as of March 31, 2013 to 5.72% as of March 31, 2014, resulting in a positive change of 39.96%.This indicates that the balance sheet and financial strength for Midwest Bank has improved dramatically in recent periods.

Deposit Growth


In the past year, Midwest Bank has decreased its total deposits by $-788,000, resulting in -0.27% 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 Midwest Bank 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. Midwest Bank has $338.42 million in assets with $35.67 million in equity, resulting in a capitalization level of 10.54%, which is above average.

Institution Statistics

FDIC Certificate #9737
Year Established1917
Primary RegulatorFDIC
Assets and Liabilities
Assets$338.43 million
Loans$291.15 million
Deposits$296.48 million
Equity Capital$32.82 million
Loan Loss Allowance$2.85 million
Unbacked Noncurrent Loans$756,000
Real Estate Owned$1.29 million
Historic Data - March 2013
Assets$336.48 million
Equity Capital$30.93 million
Loan Loss Allowance$2.61 million
Unbacked Noncurrent Loans$756,000
Real Estate Owned$2.76 million
Profit Margin - Quarterly
Net Interest Margin3.82%
Return on Assets2.03%
Return on Equity21.4%
Interest Income$3.67 million

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Midwest Bank Savings Account Rates

1.00%--Midwest IRA Savings
1.00%--Midwest Roth IRA Savings
1.00%--Midwest Coverdell Education Savings Account
0.35%--Midwest HSA Checking
0.10%--Midwest Savings
0.10%--Midwest Young Savers

Midwest Bank Money Market Rates

0.30%$500k$1mMidwest Money Market Savings

Midwest Bank Checking Account Rates

1.51%-$25kMidwest Rewards Checking - Qualifying
0.25%$100k-Midwest Interest Checking
0.25%$100k$10mMidwest Commercial Checking with Interest
0.10%--Midwest Rewards Checking - Non Qualifying
0.10%$500-Midwest Advantage Checking
0.10%$500-Midwest Advantage Plus Checking

Midwest Bank CD Rates

1.55%$5k-54 Month CD Special
1.50%$25k-60 Month CD
1.35%$1k-60 Month CD
1.35%$25k-48 Month CD
1.20%$1k-48 Month CD
1.00%$25k-36 Month CD
0.85%$1k-36 Month CD
0.80%$25k-24 Month CD
0.75%$1k-30 Month CD
0.65%$1k-24 Month CD
0.65%$5k-30 Month CD Adjust a Rate
0.50%$25k-12 Month CD
0.35%$1k-12 Month CD
0.25%$1k-182 Day CD
0.15%$1k-91 Day CD

Midwest Bank IRA Rates

1.35%$1k-60 Month IRA
1.20%$1k-48 Month IRA
0.85%$1k-36 Month IRA
0.65%$1k-24 Month IRA
0.35%$1k-12 Month IRA

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 EastDetroit Lakes, MN 56501