Bank Midwest is headquartered in SPIRIT LAKE and is the 21st largest bank in the state of Iowa. It is also the 799th largest bank in the nation. It was established in 1887 and as of June of 2023, it had grown to 191 employees at 11 locations. Bank Midwest's money market rates are 7X the national average, and it has a B+ health rating.
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.
Overall | |
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FDIC Certificate # | 5170 |
Year Established | 1887 |
Employees | 191 |
Primary Regulator | FED |
Profit Margin | |
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Return on Assets - YTD | 0.84% |
Return on Equity - YTD | 11.05% |
Annual Interest Income | $30.1MM |
Assets and Liabilities | ||
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Assets | Q2 2023vs Q2 2022 | $1.31B$1.20B |
Loans | Q2 2023vs Q2 2022 | $996.4MM$866.9MM |
Deposits | Q2 2023vs Q2 2022 | $1.06B$1.04B |
Equity Capital | Q2 2023vs Q2 2022 | $101.1MM$91.1MM |
Loan Loss Allowance | Q2 2023vs Q2 2022 | $9.7MM$9.9MM |
Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $1.6MM$1.2MM |
Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
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.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
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3.04%* | $250k* | - | Premier Money Market Savings Account | ||
OTHER TIERS: 2.02% → Up to $100k | 2.53% → $100k - $250k |
Armstrong Branches | ||
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Armstrong Branch | 500 6th Street | Armstrong, IA 50514 |
Fairmont Branches | ||
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Fairmont Branch | 301 South State St | Fairmont, MN 56031 |
Jackson Branches | ||
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Jackson Branch | 509 Third Street | Jackson, MN 56143 |
New Ulm Branches | ||
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New Ulm Branch | 525 Center St | New Ulm, MN 56073 |
Okoboji Branches | ||
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Okoboji Branch | 1102 Sanborn Avenue | Okoboji, IA 51355 |
Sherburn Branches | ||
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Sherburn Branch | 33 North Main Street | Sherburn, MN 56171 |
Spirit Lake Branches | ||
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Bank Midwest | 1525 18th St | Spirit Lake, IA 51360 |
Wall Lake Branches | ||
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Wall Lake Branch | 102 West Second Street | Wall Lake, IA 51466 |
Westbrook Branches | ||
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Westbrook Branch | 640 First Avenue | Westbrook, MN 56183 |
Windom Branches | ||
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Windom Branch | 245 Ninth Street | Windom, MN 56101 |