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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 102nd largest bank in the state of Minnesota. It is also the 3,007th largest bank in the nation. It was established in 1948 and as of December of 2020, it had grown to 30 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 Q4 2020

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #16704
Year Established1948
Employees30
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.15%
Return on Equity - YTD13.06%
Annual Interest Income$6.3MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$205.6MM$155.4MM
LoansQ4 2020vs Q4 2019$96.6MM$93.7MM
DepositsQ4 2020vs Q4 2019$187.8MM$139.0MM
Equity CapitalQ4 2020vs Q4 2019$16.6MM$15.4MM
Loan Loss AllowanceQ4 2020vs Q4 2019$1.4MM$1.3MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$92.00K$86.00K
Real Estate OwnedQ4 2020vs Q4 2019$47.00K$181.00K
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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