BankWest


Overview / Commentary
763-477-5231
5921 Main Street
Rockford, MN 55373

BankWest is headquartered in ROCKFORD and is the 92nd largest bank in the state of Minnesota. It is also the 2,719th largest bank in the nation. It was established in 1948 and as of March of 2024, it had grown to 31 employees at 3 locations. BankWest 's money market rates are 5X the national average, and it has a B+ health rating.

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Health
B+

Health Grade Components

Overall
FDIC Certificate #16704
Year Established1948
Employees31
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.81%
Return on Equity - YTD17.09%
Annual Interest Income$2.6MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$252.5MM$239.7MM
LoansQ1 2024vs Q1 2023$112.8MM$99.3MM
DepositsQ1 2024vs Q1 2023$228.4MM$220.2MM
Equity CapitalQ1 2024vs Q1 2023$12.1MM$10.1MM
Loan Loss AllowanceQ1 2024vs Q1 2023$1.2MM$1.3MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$617K$44K
Real Estate OwnedQ1 2024vs Q1 2023$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not BankWest ; 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.

BankWest Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%$100-Savings Account

BankWest Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.12%*$750k*-High Yield Money Market Savings Account
OTHER TIERS: 0.75% $0 - $250k | 1.76% $250k - $750k
1.00%*$250k*-Preferred Money Market Savings Account
OTHER TIERS: 0.50% $0 - $50k | 0.60% $50k - $250k
0.15%$2k-Money Market Savings Account

BankWest Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$0$15kRewards Checking
OTHER TIERS: 0.11% $15k+
0.15%$50-Preferred Checking
0.10%$0-Business Interest Checking

BankWest CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.59%$50k-7 Month CD Special - New Money
4.33%$50k-7 Month CD Special
3.82%$50k-13 Month CD Special
3.82%$50k-19 Month CD Special
3.82%$50k-25 Month CD Special
1.31%$2k-60 Month CD
1.16%$2k-48 Month CD
1.00%$2k-36 Month CD
0.90%$2k-24 Month CD
0.80%$2k-12 Month CD
0.65%$2k-6 Month CD
0.60%$2k-3 Month CD

BankWest IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.27%$2k-30 Month IRA
2.02%$2k-18 Month IRA
Locations


BankWest Locations
Hanover Branch11000 River Road NortheastHanover, MN 55341
Buffalo Branch311 10th Avenue SouthBuffalo, MN 55313
Bankwest5921 Main StRockford, MN 55373

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