Midwest Bank

Overview / Commentary
613 Hwy. 10 E.
Detroit Lakes, MN 56501

Midwest Bank is headquartered in Detroit Lakes and is the 29th largest bank in the state of Minnesota. It is also the 1,352nd largest bank in the nation. It was established in 1917 and as of March of 2022, it had grown to 92 employees at 7 locations. Midwest Bank's money market rates are 36% higher than the national average, and it has an A health rating.


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Health Grade Components

FDIC Certificate #9737
Year Established1917
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD2.6%
Return on Equity - YTD30.98%
Annual Interest Income$5.3MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$677.1MM$635.8MM
LoansQ1 2022vs Q1 2021$461.4MM$430.8MM
DepositsQ1 2022vs Q1 2021$611.3MM$569.7MM
Equity CapitalQ1 2022vs Q1 2021$59.0MM$55.6MM
Loan Loss AllowanceQ1 2022vs Q1 2021$4.7MM$7.1MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$3.2MM$5.3MM
Real Estate OwnedQ1 2022vs Q1 2021$0$82.00K
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Always verify rates and promotions with the bank or credit union. We are not Midwest Bank; 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.

Midwest Bank Savings Account Rates

0.60%--Midwest IRA Savings
0.15%--Midwest HSA Checking
0.15%--Midwest Savings
0.15%--Midwest Young Savers
0.15%--Midwest Business Savings

Midwest Bank Money Market Rates

0.60%*$500k*-Midwest Money Market Savings
OTHER TIERS: 0.30% Up to $10k | 0.35% $10k - $50k | 0.40% $50k - $100k | 0.45% $100k - $250k | 0.55% $250k - $500k
0.60%*$500k*-Midwest Business Money Market
OTHER TIERS: 0.30% Up to $10k | 0.35% $10k - $50k | 0.40% $50k - $100k | 0.45% $100k - $250k | 0.55% $250k - $500k

Midwest Bank Checking Account Rates

1.51%-$25kMidwest Rewards Checking
0.25%*$100k*-Midwest Interest Checking
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $50k | 0.15% $50k - $100k
0.25%*$100k*$10mMidwest Commercial Checking with Interest
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $50k | 0.15% $50k - $100k
0.05%$500-Midwest Advantage Checking
0.05%$500-Midwest Advantage Plus Checking

Midwest Bank CD Rates

1.75%$5k-54 Month CD Special
1.65%*$25k*-60 Month CD
OTHER TIERS: 1.50% $1k - $25k
1.50%*$25k*-48 Month CD
OTHER TIERS: 1.35% $1k - $25k
1.35%*$25k*-36 Month CD
OTHER TIERS: 1.20% $1k - $25k
1.25%$1k-30 Month CD
1.20%*$25k*-24 Month CD
OTHER TIERS: 1.05% $1k - $25k
1.15%$5k-30 Month CD Adjust a Rate
1.00%$5k-17 Month CD Special
0.80%*$25k*-12 Month CD
OTHER TIERS: 0.65% $1k - $25k
0.50%$1k-182 Day CD
0.45%$1k-91 Day CD

Midwest Bank IRA Rates

1.50%$1k-60 Month IRA
1.35%$1k-48 Month IRA
1.20%$1k-36 Month IRA
1.05%$1k-24 Month IRA
0.65%$1k-12 Month IRA

Midwest Bank Locations
Parkers Prairie Branch105 East Soo StreetParkers Prairie, MN 56361
Dalton Branch108 West Main StreetDalton, MN 56324
Waubun Branch1211 First StreetWaubun, MN 56589
Detroit Lakes Wal-Mart Branch1583 Highway 10 WestDetroit Lakes, MN 56501
Barnesville Branch215 Front Street SouthBarnesville, MN 56514
Callaway Branch421 Main AvenueCallaway, MN 56521
Midwest Bank613 Highway 10 EastDetroit Lakes, MN 56501

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