Bank Forward is headquartered in FARGO and is the 12th largest bank in the state of North Dakota. It is also the 1,063rd largest bank in the nation. It was established in 1927 and as of June of 2023, it had grown to 224 employees at 12 locations. Bank Forward's money market rates are 7X the national average, and it has an A health rating.
Overall | |
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FDIC Certificate # | 8941 |
Year Established | 1927 |
Employees | 224 |
Primary Regulator | FDIC |
Profit Margin | |
---|---|
Return on Assets - YTD | 1.93% |
Return on Equity - YTD | 18.5% |
Annual Interest Income | $20.7MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q2 2023vs Q2 2022 | $923.6MM$880.5MM |
Loans | Q2 2023vs Q2 2022 | $775.1MM$691.8MM |
Deposits | Q2 2023vs Q2 2022 | $773.1MM$775.4MM |
Equity Capital | Q2 2023vs Q2 2022 | $94.9MM$85.1MM |
Loan Loss Allowance | Q2 2023vs Q2 2022 | $6.2MM$8.3MM |
Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $89.00K$0 |
Real Estate Owned | Q2 2023vs Q2 2022 | $110.00K$110.00K |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
2.00% | - | - | IRA Savings Account | |
0.30% | - | - | Health Savings Account | |
0.25% | - | - | Regular Savings Account |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
3.00%* | $500k* | - | Forward Money Market | ||
OTHER TIERS: 1.00% → $5k - $100k | 1.50% → $100k - $250k | 2.00% → $250k - $500k | |||||
1.00% | $1k | - | Money Market Savings |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
3.25% | $500 | - | 60 Month IRA | |
2.85% | $500 | - | 30 Month IRA | |
2.75% | $500 | - | 24 Month IRA | |
2.50% | $500 | - | 18 Month IRA | |
1.50% | $500 | - | 12 Month IRA |