BankWest

Overview / Commentary

www.bankwestmn.com

763-477-5231

5921 Main Street
Rockford, MN 55373

BankWest is headquartered in Rockford and is the 98^th largest bank in the state of Minnesota. It is also the 2,836^th largest bank in the nation. It was established in 1948 and as of June of 2022, it had grown to 29 employees at 3 locations. BankWest 's money market rates are 36% higher than the national average, and it has a B+ health rating.

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Health

B+

Data as of Q2 2022

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Health Grade Components

Overall
FDIC Certificate #	16704
Year Established	1948
Employees	29
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.63%
Return on Equity - YTD	12.53%
Annual Interest Income	$3.0MM

Assets and Liabilities
Assets	Q2 2022vs Q2 2021	$238.2MM$227.5MM
Loans	Q2 2022vs Q2 2021	$89.5MM$96.2MM
Deposits	Q2 2022vs Q2 2021	$228.2MM$209.8MM
Equity Capital	Q2 2022vs Q2 2021	$8.8MM$16.7MM
Loan Loss Allowance	Q2 2022vs Q2 2021	$1.4MM$1.4MM
Unbacked Noncurrent Loans	Q2 2022vs Q2 2021	$9.00K$77.00K
Real Estate Owned	Q2 2022vs Q2 2021	$0$0

Rates

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Savings
Money Market
Checking
CD
IRA

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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

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.10%	$100	-	Savings Account

BankWest Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
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

APY	MIN	MAX	ACCOUNT NAME
0.50%	-	-	Business Interest Checking Earnings Credit
0.50%^*	-	$15k	Rewards 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

APY	MIN	MAX	ACCOUNT NAME
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

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.65%	$2k	-	30 Month IRA
0.50%	$2k	-	18 Month IRA

Locations

BankWest Locations
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

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