BankWest


Overview / Commentary
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 2,802nd 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.

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Health
C+

Health Grade Components

Overall
FDIC Certificate #16704
Year Established1948
Employees29
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.95%
Return on Equity - YTD25.22%
Annual Interest Income$4.1MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$235.8MM$238.2MM
LoansQ2 2023vs Q2 2022$99.0MM$89.5MM
DepositsQ2 2023vs Q2 2022$214.3MM$228.2MM
Equity CapitalQ2 2023vs Q2 2022$9.0MM$8.8MM
Loan Loss AllowanceQ2 2023vs Q2 2022$1.3MM$1.4MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$599.00K$9.00K
Real Estate OwnedQ2 2023vs Q2 2022$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% Up to $250k | 1.76% $250k - $750k
1.00%*$250k*-Preferred Money Market Savings Account
OTHER TIERS: 0.50% Up to $50k | 0.60% $50k - $250k
0.15%$2k-Money Market Savings Account

BankWest Checking Account Rates

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