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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 110th largest bank in the state of Minnesota. It is also the 3,272nd largest bank in the nation. It was established in 1948 and as of December of 2019, 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 2019

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Health Grade Components

Overall
FDIC Certificate #16704
Year Established1948
Employees30
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.64%
Return on Equity - YTD16.59%
Annual Interest Income$6.3MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$155.4MM$147.4MM
LoansQ4 2019vs Q4 2018$93.7MM$95.2MM
DepositsQ4 2019vs Q4 2018$139.0MM$132.8MM
Equity CapitalQ4 2019vs Q4 2018$15.4MM$13.7MM
Loan Loss AllowanceQ4 2019vs Q4 2018$1.3MM$1.3MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$86.00K$66.00K
Real Estate OwnedQ4 2019vs Q4 2018$181.00K$167.00K
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%--Premier Business Earnings Credit
0.50%--Premier Business Plus Earnings Credit
0.50%*-$15kKasasa Cash
OTHER TIERS: 0.11% → $15k+
0.20%--Analysis Account Earnings Credit
0.15%$50-Preferred Checking
0.10%$500-Premier Plus Business Checking

BankWest CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.41%$2k-60 Month CD
1.21%$2k-48 Month CD
1.00%$2k-36 Month CD
0.65%$2k-24 Month CD
0.40%$2k-12 Month CD
0.25%$2k-6 Month CD
0.15%$2k-3 Month CD

BankWest IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.12%$2k-30 Month IRA
1.76%$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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