MidCountry Bank is headquartered in Minneapolis and is the 17th largest bank in the state of Minnesota. It is also the 955th largest bank in the nation. It was established in 1933 and as of June of 2022, it had grown to 118 employees at 13 locations. MidCountry Bank's money market rates are 2X the national average, and it has a B+ health rating.
Above Average
I have been a customer of Mid country (originally with First federal which was bought out by Mid country) for a very long time. They still offer free checking and good old fashioned atm cards. Their interest rates are about average, and there service is usually speedy and polite.
I have used 4 of there minnesota branches and have never had a bad experience.
Its easily a better choice than many of the larger banks.
Midcountry Bank Is Absolutely Awful! Do NOT Use Them!
MidCountry Bank is absolutely terrible! Do NOT bank with MidCountry Bank, especially Carbondale, IL branch! I have banked with them for a number of years and on the day before Christmas Eve they called me about 10 times at 10 minutes until 5 p.m. while I was in a Christmas party. I couldn't answer because I was at a party with family. I did not have their number in my phone so I didn't know who was calling initially or I would have answered. They left an innocuous voicemail just telling me to call them back. Then my mother started calling my phone. They called her over and over and wouldn't tell her anything just to have me call them back. They made her worry. She got a hold of me and told me to call them. I called them 5 minutes before 5 on the day before Christmas Eve. They were closed even though their voicemail said they wouldn't close until 5 p.m. I had to worry all night long that something was wrong with my account with absolutely no way to find out why they called me and my mother numerous times to alert us to something. I didn't want to use my debit card for last-minute Christmas purchases that evening. I was terrified. I even called the Customer Service number and they had no idea why I was called multiple times. I had no relief. I called the Carbondale Il branch of MC first thing in the morning on Christmas Eve and they told me that they couldn't deposit a check from my fiance because they didn't know him and he didn't have an account with MidCountry. I had done it before numerous times but they said that didn't matter and they no longer would do that. I said that my online account reflected that they were deposited and they said it would be reversed today. Thank God I didn't spend it already! Awful experience! Awful customer service! No respect for the loyalty I've shown this terrible bank. Rude people. I am immediately cancelling my account.
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 28865 |
| Year Established | 1933 |
| Employees | 118 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.13% |
| Return on Equity - YTD | 11.81% |
| Annual Interest Income | $20.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $1.03B$880.6MM |
| Loans | Q2 2022vs Q2 2021 | $818.3MM$698.1MM |
| Deposits | Q2 2022vs Q2 2021 | $834.7MM$651.8MM |
| Equity Capital | Q2 2022vs Q2 2021 | $88.1MM$109.7MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $9.6MM$7.5MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $1.7MM$3.3MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $1.2MM$398.00K |
