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BankWest


Overview / Commentary
www.bankwestmn.com
763-477-5231
5921 Main Street
Rockford, MN 55373

BankWest is headquartered in Rockford and is the 99th largest bank in the state of Minnesota. It is also the 2,965th largest bank in the nation. It was established in 1948 and as of March of 2021, it had grown to 31 employees at 3 locations. BankWest 's money market rates are 36% higher than the national average, and it has an A health rating.

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Health
A

Data as of Q1 2021

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #16704
Year Established1948
Employees31
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.83%
Return on Equity - YTD10.83%
Annual Interest Income$1.5MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$219.7MM$158.7MM
LoansQ1 2021vs Q1 2020$94.3MM$95.0MM
DepositsQ1 2021vs Q1 2020$202.5MM$143.0MM
Equity CapitalQ1 2021vs Q1 2020$16.1MM$14.8MM
Loan Loss AllowanceQ1 2021vs Q1 2020$1.4MM$1.3MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$75.00K$230.00K
Real Estate OwnedQ1 2021vs Q1 2020$0$52.00K
Rates
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* 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
0.10%$100-Savings Account

BankWest Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%*$750k*-High Yield Money Market Savings Account
OTHER TIERS: 0.25% → Up to $250k | 0.40% → $250k - $750k
0.40%*$250k*-Preferred Money Market Savings Account
OTHER TIERS: 0.20% → Up to $50k | 0.30% → $50k - $250k
0.15%$2k-Money Market Savings Account

BankWest Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%--Business Interest Checking Earnings Credit
0.50%*-$15kRewards Checking
OTHER TIERS: 0.11% → $15k+
0.50%--Business Analysis Earnings Credit
0.20%--Analysis Account Earnings Credit
0.15%$50-Preferred Checking
0.10%--Business Interest Checking

BankWest CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.80%$2k-60 Month CD
0.65%$2k-48 Month CD
0.50%$2k-36 Month CD
0.40%$2k-24 Month CD
0.30%$2k-12 Month CD
0.15%$2k-6 Month CD
0.10%$2k-3 Month CD

BankWest IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.65%$2k-30 Month IRA
0.50%$2k-18 Month IRA
Locations


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

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