Midwest Bank

Overview / Commentary

www.midwestbank.net

218-847-4771

613 Hwy. 10 E.
Detroit Lakes, MN 56502-0703

Midwest Bank is headquartered in Detroit Lakes and is the 29^th largest bank in the state of Minnesota. It is also the 1,345^th largest bank in the nation. It was established in 1917 and as of June of 2022, it had grown to 92 employees at 7 locations. Midwest Bank's money market rates are 5X the national average, and it has an A health rating.

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2010
2008

7/2 - 4.01% Reward Checking For Up To $25K At Midwest Bank In Minnesota

8/9 - 4.00% 9-Month / 4.00% 15-Month CD at an Illinois Bank (Midwest).

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Health

Data as of Q2 2022

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Health Grade Components

Overall
FDIC Certificate #	9737
Year Established	1917
Employees	92
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	2.21%
Return on Equity - YTD	25.97%
Annual Interest Income	$11.4MM

Assets and Liabilities
Assets	Q2 2022vs Q2 2021	$680.9MM$645.1MM
Loans	Q2 2022vs Q2 2021	$489.9MM$448.8MM
Deposits	Q2 2022vs Q2 2021	$618.0MM$581.4MM
Equity Capital	Q2 2022vs Q2 2021	$59.6MM$55.0MM
Loan Loss Allowance	Q2 2022vs Q2 2021	$4.7MM$7.1MM
Unbacked Noncurrent Loans	Q2 2022vs Q2 2021	$2.8MM$3.8MM
Real Estate Owned	Q2 2022vs Q2 2021	$0$0

Rates

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Savings
Money Market
Checking
CD
IRA

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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Midwest Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
1.25%	-	-	Midwest IRA Savings
0.30%	-	-	Midwest HSA Checking
0.30%	-	-	Midwest Savings
0.30%	-	-	Midwest Young Savers
0.30%	-	-	Midwest Business Savings

Midwest Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
2.10%^*	$1m^*	-	Midwest Money Market Savings
OTHER TIERS: 1.00% → Up to $10k \| 1.25% → $10k - $50k \| 1.35% → $50k - $100k \| 1.50% → $100k - $250k \| 2.00% → $250k - $500k \| 2.05% → $500k - $1m
2.10%^*	$1m^*	-	Midwest Business Money Market
OTHER TIERS: 1.00% → Up to $10k \| 1.25% → $10k - $50k \| 1.35% → $50k - $100k \| 1.50% → $100k - $250k \| 2.00% → $250k - $500k \| 2.05% → $500k - $1m

Midwest Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
1.51%	-	$25k	Midwest Rewards Checking
0.35%^*	$100k^*	-	Midwest Interest Checking
OTHER TIERS: 0.15% → Up to $10k \| 0.20% → $10k - $50k \| 0.25% → $50k - $100k
0.35%^*	$100k^*	$10m	Midwest Commercial Checking with Interest
OTHER TIERS: 0.15% → Up to $10k \| 0.20% → $10k - $50k \| 0.25% → $50k - $100k
0.15%	$500	-	Midwest Advantage Checking
0.15%	$500	-	Midwest Advantage Plus Checking

Midwest Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
3.51%	$5k	-	54 Month CD Special
3.50%	$5k	-	17 Month CD Special
3.35%^*	$25k^*	-	48 Month CD
OTHER TIERS: 3.20% → $1k - $25k
3.35%^*	$25k^*	-	60 Month CD
OTHER TIERS: 3.20% → $1k - $25k
3.25%^*	$25k^*	-	24 Month CD
OTHER TIERS: 3.10% → $1k - $25k
3.25%^*	$25k^*	-	36 Month CD
OTHER TIERS: 3.10% → $1k - $25k
3.15%	$1k	-	30 Month CD
3.00%	$5k	-	11 Month CD Special
2.75%	$5k	-	30 Month CD Adjust a Rate
2.50%^*	$25k^*	-	12 Month CD
OTHER TIERS: 2.35% → $1k - $25k
2.25%	$1k	-	182 Day CD
1.75%	$1k	-	91 Day CD

Midwest Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
3.20%	$1k	-	48 Month IRA
3.20%	$1k	-	60 Month IRA
3.10%	$1k	-	24 Month IRA
3.10%	$1k	-	36 Month IRA
2.35%	$1k	-	12 Month IRA

Locations

Midwest Bank Locations
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

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