First Western Bank & Trust is headquartered in MINOT and is the 7th largest bank in the state of North Dakota. It is also the 528th largest bank in the nation. It was established in 1964 and as of June of 2024, it had grown to 334 employees at 19 locations. First Western Bank & Trust's CD rates are 4X the national average, and it has a B+ health rating.
Deceptive Experience Cost Us Thousands
The First Western branch in Baxter, MN has caused us to lose our business endeavor with thousands of dollars already invested. After months of being misled about their position for financing our project, lack of First Western’s banker competency and staffing shortage (according to the Market President) left us in a critical position with no time to pursue other avenues. Their profound lack of communication (internally and externally) was a major factor that cost us a future. As we experienced, First Western’s propaganda has proven their principles and values as disingenuous and deceitful. I highly recommend seeking a relationship-based bank with lenders who have a solid understanding of the industry and willingness to adhere to their published message.
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 19123 |
| Year Established | 1964 |
| Employees | 334 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.4% |
| Return on Equity - YTD | 4.03% |
| Annual Interest Income | $57.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $2.25B$2.1B |
| Loans | Q2 2024vs Q2 2023 | $1.78B$1.65B |
| Deposits | Q2 2024vs Q2 2023 | $1.92B$1.75B |
| Equity Capital | Q2 2024vs Q2 2023 | $222.3MM$216.5MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $18.7MM$16.1MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $27.2MM$17.2MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $643K$0 |
