Bank Midwest


Overview / Commentary
712-336-0505
1525 18th Street
Spirit Lake, IA 51360

Bank Midwest is headquartered in Spirit Lake and is the 20th largest bank in the state of Iowa. It is also the 839th largest bank in the nation. It was established in 1887 and as of March of 2022, it had grown to 190 employees at 11 locations. Bank Midwest has an A health rating.

Reviews (1)

Good Local Banking Option

I bank at Bank Midwest because it is a local bank in our town. Their customer service is second to none - they always know your name and are eager to help! There is a certain sense of small town values that come with banking locally.



Health

Health Grade Components

Overall
FDIC Certificate #5170
Year Established1887
Employees190
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.01%
Return on Equity - YTD11.84%
Annual Interest Income$10.8MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$1.23B$1.16B
LoansQ1 2022vs Q1 2021$824.4MM$786.3MM
DepositsQ1 2022vs Q1 2021$1.12B$1.05B
Equity CapitalQ1 2022vs Q1 2021$99.9MM$103.5MM
Loan Loss AllowanceQ1 2022vs Q1 2021$9.9MM$11.6MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$1.4MM$1.2MM
Real Estate OwnedQ1 2022vs Q1 2021$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Bank Midwest; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Bank Midwest Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$25k*$100kVariable Rate IRA Savings
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $25k
0.25%*$20k*-Health Savings Account
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $20k
0.25%*$250k*-Great Rate Savings
OTHER TIERS: 0.05% Up to $25k | 0.10% $25k - $50k | 0.15% $50k - $100k | 0.20% $100k - $250k
0.05%$100-Statement Savings

Bank Midwest Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%-$20kGreat Rewards Checking
0.40%*$500k*-Business Interest Checking
OTHER TIERS: 0.10% Up to $25k | 0.15% $25k - $100k | 0.25% $100k - $250k | 0.35% $250k - $500k
0.01%--EnVision Interest Checking

Bank Midwest CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%*$250k*-60 Month CD
OTHER TIERS: 0.80% $500 - $250k
0.80%*$250k*-48 Month CD
OTHER TIERS: 0.70% $500 - $250k
0.70%*$250k*-36 Month CD
OTHER TIERS: 0.60% $500 - $250k
0.60%*$250k*-30 Month CD
OTHER TIERS: 0.50% $500 - $250k
0.50%*$250k*-24 Month CD
OTHER TIERS: 0.40% $500 - $250k
0.40%*$250k*-18 Month CD
OTHER TIERS: 0.30% $500 - $250k
0.35%*$250k*-12 Month CD
OTHER TIERS: 0.25% $500 - $250k
0.10%*$250k*-182 Day CD
OTHER TIERS: 0.05% $500 - $250k

Bank Midwest IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%*$250k*-60 Month IRA
OTHER TIERS: 0.80% $500 - $250k
0.80%*$250k*-48 Month IRA
OTHER TIERS: 0.70% $500 - $250k
0.70%*$250k*-36 Month IRA
OTHER TIERS: 0.60% $500 - $250k
0.60%*$250k*-30 Month IRA
OTHER TIERS: 0.50% $500 - $250k
0.50%*$250k*-24 Month IRA
OTHER TIERS: 0.40% $500 - $250k
0.40%*$250k*-18 Month IRA
OTHER TIERS: 0.30% $500 - $250k
0.35%*$250k*-12 Month IRA
OTHER TIERS: 0.25% $500 - $250k
0.10%*$250k*-182 Day IRA
OTHER TIERS: 0.05% $500 - $250k
Locations


Cities: Armstrong, Fairmont, Jackson, New Ulm, Okoboji, Sherburn, Spirit Lake, Wall Lake, Westbrook, Windom

Armstrong Branches
Armstrong Branch500 6th StreetArmstrong, IA 50514

Fairmont Branches
Fairmont Branch301 South State StFairmont, MN 56031

Jackson Branches
Jackson Branch509 Third StreetJackson, MN 56143

New Ulm Branches
New Ulm Branch525 Center StNew Ulm, MN 56073

Okoboji Branches
Okoboji Branch1102 Sanborn AvenueOkoboji, IA 51355

Sherburn Branches
Sherburn Branch33 North Main StreetSherburn, MN 56171

Spirit Lake Branches
Bank Midwest1525 18th StreetSpirit Lake, IA 51360

Wall Lake Branches
Wall Lake Branch102 West Second StreetWall Lake, IA 51466

Westbrook Branches
Westbrook Branch640 First AvenueWestbrook, MN 56183

Windom Branches
Windom Branch245 Ninth StreetWindom, MN 56101

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