BankWest is headquartered in ROCKFORD and is the 99th largest bank in the state of Minnesota. It is also the 2,802nd largest bank in the nation. It was established in 1948 and as of June of 2023, it had grown to 29 employees at 3 locations. BankWest 's money market rates are 5X the national average, and it has a C+ health rating.
Overall | |
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FDIC Certificate # | 16704 |
Year Established | 1948 |
Employees | 29 |
Primary Regulator | FDIC |
Profit Margin | |
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Return on Assets - YTD | 0.95% |
Return on Equity - YTD | 25.22% |
Annual Interest Income | $4.1MM |
Assets and Liabilities | ||
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Assets | Q2 2023vs Q2 2022 | $235.8MM$238.2MM |
Loans | Q2 2023vs Q2 2022 | $99.0MM$89.5MM |
Deposits | Q2 2023vs Q2 2022 | $214.3MM$228.2MM |
Equity Capital | Q2 2023vs Q2 2022 | $9.0MM$8.8MM |
Loan Loss Allowance | Q2 2023vs Q2 2022 | $1.3MM$1.4MM |
Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $599.00K$9.00K |
Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
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* 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 |
---|---|---|---|---|
0.15% | $100 | - | Savings Account |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
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0.50%* | - | $15k | Rewards Checking | ||
OTHER TIERS: 0.11% → $15k+ | |||||
0.15% | $50 | - | Preferred Checking | ||
0.10% | - | - | Business Interest Checking |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
2.27% | $2k | - | 30 Month IRA | |
2.02% | $2k | - | 18 Month IRA |
BankWest Locations | ||
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Hanover Branch | 11000 River Road Northeast | Hanover, MN 55341 |
Buffalo Branch | 311 10th Avenue South | Buffalo, MN 55313 |
Bankwest | 5921 Main St | Rockford, MN 55373 |