Midwest Bank

Overview / Commentary

www.midwestbank.net

218-847-4771

613 Highway 10 East
Detroit Lakes, MN 56501

Midwest Bank is headquartered in Detroit Lakes and is the 31^st largest bank in the state of Minnesota. It is also the 1,436^th largest bank in the nation. It was established in 1917 and as of June of 2019, it had grown to 87 employees at 7 locations. Midwest Bank's money market rates are 4X the national average, and it has an A health rating.

View all posts from:

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).

Reviews

Write a Review

No reviews have been left for this bank yet. Be the first to review.

Health

Data as of Q2 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	9737
Year Established	1917
Employees	87
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	2.31%
Return on Equity - YTD	24.56%
Annual Interest Income	$12.6MM

Assets and Liabilities
Assets	Q2 2019vs Q2 2018	$506.4MM$445.9MM
Loans	Q2 2019vs Q2 2018	$455.3MM$400.5MM
Deposits	Q2 2019vs Q2 2018	$423.6MM$383.8MM
Equity Capital	Q2 2019vs Q2 2018	$46.6MM$39.7MM
Loan Loss Allowance	Q2 2019vs Q2 2018	$4.4MM$3.7MM
Unbacked Noncurrent Loans	Q2 2019vs Q2 2018	$2.5MM$1.9MM
Real Estate Owned	Q2 2019vs Q2 2018	$2.2MM$129.00K

Rates

Skip to rates for:

Savings
Money Market
Checking
CD
IRA

Report an Issue

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

APY	MIN	MAX	ACCOUNT NAME
1.30%	-	-	Midwest IRA Savings
0.50%	-	-	Midwest HSA Checking
0.20%	-	-	Midwest Savings
0.20%	-	-	Midwest Young Savers

Midwest Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
1.55%^*	$1m^*	-	Midwest Money Market Savings
OTHER TIERS: 0.40% → Up to $10k \| 0.80% → $10k - $50k \| 1.00% → $50k - $100k \| 1.20% → $100k - $250k \| 1.30% → $250k - $500k \| 1.40% → $500k - $1m

Midwest Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
2.00%	-	$25k	Midwest Rewards Checking
0.25%^*	$100k^*	-	Midwest Interest Checking
OTHER TIERS: 0.10% → Up to $10k \| 0.15% → $10k - $50k \| 0.20% → $50k - $100k
0.25%^*	$100k^*	$10m	Midwest Commercial Checking with Interest
OTHER TIERS: 0.10% → Up to $10k \| 0.15% → $10k - $50k \| 0.20% → $50k - $100k
0.15%	$500	-	Midwest Advantage Checking
0.15%	$500	-	Midwest Advantage Plus Checking

Midwest Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
2.55%	$5k	-	54 Month CD Special
2.50%^*	$25k^*	-	36 Month CD
OTHER TIERS: 2.35% → $1k - $25k
2.50%^*	$25k^*	-	48 Month CD
OTHER TIERS: 2.35% → $1k - $25k
2.50%^*	$25k^*	-	60 Month CD
OTHER TIERS: 2.35% → $1k - $25k
2.40%^*	$25k^*	-	24 Month CD
OTHER TIERS: 2.25% → $1k - $25k
2.30%	$1k	-	30 Month CD
2.20%	$5k	-	30 Month CD Adjust a Rate
2.15%	$5k	-	17 Month CD Special
2.10%^*	$25k^*	-	12 Month CD
OTHER TIERS: 1.95% → $1k - $25k
1.25%	$1k	-	182 Day CD
1.00%	$1k	-	91 Day CD

Midwest Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
2.35%	$1k	-	36 Month IRA
2.35%	$1k	-	48 Month IRA
2.35%	$1k	-	60 Month IRA
2.25%	$1k	-	24 Month IRA
1.95%	$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 East	Detroit Lakes, MN 56501

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.