Midwest Bank

TODAY'S FEATURED RATES

Member FDIC

3.80%

Our Rating

4.2 / 5

SoFi® Bank, N.A.

SoFi Checking and Savings

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Sponsored Note: Earn up to 3.80% APY and up to $300 with direct deposit. Members can unlock our highest savings rate with direct deposit OR by depositing $5,000 or more every 30 days. Terms apply. Member FDIC

Member FDIC

3.60%

Our Rating

4.3 / 5

American Express

American Express® High Yield Savings Account

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Sponsored Note: Interest compounds daily, deposited monthly

Member FDIC

4.44%

Our Rating

4.3 / 5

Peak Bank

Envision High Yield Savings

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Sponsored Note: Member FDIC: Insured up to $250,000. $100 Deposit Earns Interest Immediately.

Member FDIC

up to $300

Our Rating

4.2 / 5

SoFi® Bank, N.A.

SoFi Checking and Savings

See Offer

Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!

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 26^th largest bank in the state of Minnesota. It is also the 1,246^th largest bank in the nation. It was established in 1917 and as of March of 2025, it had grown to 97 employees at 7 locations. Midwest Bank's money market rates are 8X the national average, and it boasts an A+ health rating.

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Health

A+

Data as of Q1 2025

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	9737
Year Established	1917
Employees	97
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	2.02%
Return on Equity - YTD	19.87%
Annual Interest Income	$12.4MM

Assets and Liabilities
Assets	Q1 2025vs Q1 2024	$801.4MM$730MM
Loans	Q1 2025vs Q1 2024	$699MM$598.9MM
Deposits	Q1 2025vs Q1 2024	$692.4MM$623.4MM
Equity Capital	Q1 2025vs Q1 2024	$83.6MM$74.1MM
Loan Loss Allowance	Q1 2025vs Q1 2024	$6MM$5.3MM
Unbacked Noncurrent Loans	Q1 2025vs Q1 2024	$114K$15K
Real Estate Owned	Q1 2025vs Q1 2024	$0$0

TODAY'S FEATURED RATES

Member FDIC

3.80%

Our Rating

4.2 / 5

SoFi® Bank, N.A.

SoFi Checking and Savings

See Offer

Member FDIC

3.60%

Our Rating

4.3 / 5

American Express

American Express® High Yield Savings Account

See Offer

Sponsored Note: Interest compounds daily, deposited monthly

Member FDIC

4.44%

Our Rating

4.3 / 5

Peak Bank

Envision High Yield Savings

See Offer

Sponsored Note: Member FDIC: Insured up to $250,000. $100 Deposit Earns Interest Immediately.

Member FDIC

up to $300

Our Rating

4.2 / 5

SoFi® Bank, N.A.

SoFi Checking and Savings

See Offer

Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!

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
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 Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
3.55%^*	$1m^*	-	Midwest Money Market Savings
OTHER TIERS: 1.90% → $0 - $10k \| 2.10% → $10k - $50k \| 2.60% → $50k - $100k \| 2.85% → $100k - $250k \| 3.05% → $250k - $500k \| 3.45% → $500k - $1m
3.55%^*	$1m^*	-	Midwest Business Money Market
OTHER TIERS: 1.90% → $0 - $10k \| 2.10% → $10k - $50k \| 2.60% → $50k - $100k \| 2.85% → $100k - $250k \| 3.05% → $250k - $500k \| 3.45% → $500k - $1m

Midwest Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
4.07%	$0	$25k	Midwest Rewards Checking
0.40%^*	$100k^*	-	Midwest Interest Checking
OTHER TIERS: 0.20% → $0 - $10k \| 0.25% → $10k - $50k \| 0.30% → $50k - $100k
0.40%^*	$100k^*	$10m	Midwest Commercial Checking with Interest
OTHER TIERS: 0.20% → $0 - $10k \| 0.25% → $10k - $50k \| 0.30% → $50k - $100k

Midwest Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
4.25%	$500	-	7 Month CD Special
4.25%	$500	-	7 Month HSA CD Special
4.00%	$5k	-	54 Month CD Special
4.00%	$5k	-	11 Month CD Special
4.00%	$5k	-	11 Month HSA CD Special
4.00%	$5k	-	54 Month HSA CD Special
3.85%^*	$25k^*	-	24 Month HSA CD
OTHER TIERS: 3.70% → $1k - $25k
3.85%^*	$25k^*	-	24 Month CD
OTHER TIERS: 3.70% → $1k - $25k
3.80%^*	$25k^*	-	12 Month CD
OTHER TIERS: 3.65% → $1k - $25k
3.80%^*	$25k^*	-	12 Month HSA CD
OTHER TIERS: 3.65% → $1k - $25k
3.75%^*	$25k^*	-	36 Month HSA CD
OTHER TIERS: 3.60% → $1k - $25k
3.75%^*	$25k^*	-	48 Month HSA CD
OTHER TIERS: 3.60% → $1k - $25k
3.75%^*	$25k^*	-	60 Month HSA CD
OTHER TIERS: 3.60% → $1k - $25k
3.75%^*	$25k^*	-	36 Month CD
OTHER TIERS: 3.60% → $1k - $25k
3.75%^*	$25k^*	-	48 Month CD
OTHER TIERS: 3.60% → $1k - $25k
3.75%^*	$25k^*	-	60 Month CD
OTHER TIERS: 3.60% → $1k - $25k
3.60%^*	$1k^*	$25k	30 Month CD
OTHER TIERS: 3.30% → $25k+
3.50%	$1k	-	182 Day CD
3.50%	$1k	-	182 Day HSA CD
3.49%	$1k	-	91 Day CD
3.49%	$1k	-	91 Day HSA CD

Midwest Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
4.25%	$500	-	7 Month CD Special
4.00%	$5k	-	11 Month CD Special
4.00%	$5k	-	54 Month CD Special
3.85%^*	$25k^*	-	24 Month IRA
OTHER TIERS: 3.70% → $1k - $25k
3.80%^*	$25k^*	-	12 Month IRA
OTHER TIERS: 3.65% → $1k - $25k
3.75%^*	$25k^*	-	36 Month IRA
OTHER TIERS: 3.60% → $1k - $25k
3.75%^*	$25k^*	-	48 Month IRA
OTHER TIERS: 3.60% → $1k - $25k
3.75%^*	$25k^*	-	60 Month IRA
OTHER TIERS: 3.60% → $1k - $25k
3.50%	$1k	-	182 Day IRA
3.49%	$1k	-	91 Day IRA
3.10%	$0	-	Midwest IRA Savings

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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