Midwest Bank is headquartered in DETROIT LAKES and is the 25th largest bank in the state of Minnesota. It is also the 1,267th largest bank in the nation. It was established in 1917 and as of September of 2024, it had grown to 93 employees at 7 locations. Midwest Bank's money market rates are 9X the national average, and it boasts an A+ health rating.
Overall | |
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FDIC Certificate # | 9737 |
Year Established | 1917 |
Employees | 93 |
Primary Regulator | FDIC |
Profit Margin | |
---|---|
Return on Assets - YTD | 2.34% |
Return on Equity - YTD | 23.65% |
Annual Interest Income | $36.1MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q3 2024vs Q3 2023 | $787.2MM$713.4MM |
Loans | Q3 2024vs Q3 2023 | $668.9MM$561.5MM |
Deposits | Q3 2024vs Q3 2023 | $669.3MM$615.7MM |
Equity Capital | Q3 2024vs Q3 2023 | $79.2MM$66MM |
Loan Loss Allowance | Q3 2024vs Q3 2023 | $5.7MM$5.2MM |
Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $14K$17K |
Real Estate Owned | Q3 2024vs Q3 2023 | $0$0 |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
3.10% | $0 | - | Midwest IRA Savings | |
0.55% | $0 | - | Midwest Savings | |
0.55% | $0 | - | Midwest Young Savers | |
0.55% | $0 | - | Midwest Business Savings | |
0.40% | $0 | - | Midwest HSA Checking |
Midwest Bank Locations | ||
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Parkers Prairie Branch | 105 East Soo Street | Parkers Prairie, MN 56361 |
Dalton Branch | 108 West Main Street | Dalton, MN 56324 |
Waubun Branch | 1211 First Street | Waubun, MN 56589 |
Detroit Lakes Wal-Mart Branch | 1583 Highway 10 West | Detroit Lakes, MN 56501 |
Barnesville Branch | 215 Front Street South | Barnesville, MN 56514 |
Callaway Branch | 421 Main Avenue | Callaway, MN 56521 |
Midwest Bank | 613 Highway 10 E | Detroit Lakes, MN 56501 |