Midwest Bank


Overview / Commentary
218-847-4771
613 Highway 10 East
Detroit Lakes, MN 56502-0703

Midwest Bank is headquartered in Detroit Lakes and is the 31st largest bank in the state of Minnesota. It is also the 1,401st largest bank in the nation. It was established in 1917 and as of March of 2021, it had grown to 93 employees at 7 locations. Midwest Bank has an A health rating.

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Health

Health Grade Components

Overall
FDIC Certificate #9737
Year Established1917
Employees93
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.78%
Return on Equity - YTD20.15%
Annual Interest Income$5.4MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$635.8MM$511.3MM
LoansQ1 2021vs Q1 2020$430.8MM$446.5MM
DepositsQ1 2021vs Q1 2020$569.7MM$449.8MM
Equity CapitalQ1 2021vs Q1 2020$55.6MM$51.1MM
Loan Loss AllowanceQ1 2021vs Q1 2020$7.1MM$4.9MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$5.3MM$5.2MM
Real Estate OwnedQ1 2021vs Q1 2020$82.00K$1.8MM
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%--Midwest IRA Savings
0.10%--Midwest HSA Checking
0.10%--Midwest Savings
0.10%--Midwest Young Savers
0.10%--Midwest Business Savings

Midwest Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$250k*-Midwest Money Market Savings
OTHER TIERS: 0.10% Up to $50k | 0.15% $50k - $100k | 0.20% $100k - $250k
0.25%*$250k*-Midwest Business Money Market
OTHER TIERS: 0.10% Up to $50k | 0.15% $50k - $100k | 0.20% $100k - $250k

Midwest Bank Checking Account Rates

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

Midwest Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.85%$5k-54 Month CD Special
0.80%*$25k*-60 Month CD
OTHER TIERS: 0.65% $1k - $25k
0.65%*$25k*-48 Month CD
OTHER TIERS: 0.50% $1k - $25k
0.55%*$25k*-36 Month CD
OTHER TIERS: 0.40% $1k - $25k
0.55%$5k-17 Month CD Special
0.45%*$25k*-24 Month CD
OTHER TIERS: 0.30% $1k - $25k
0.35%*$25k*-12 Month CD
OTHER TIERS: 0.20% $1k - $25k
0.35%$1k-30 Month CD
0.30%$5k-30 Month CD Adjust a Rate
0.15%$1k-182 Day CD
0.10%$1k-91 Day CD

Midwest Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.65%$1k-60 Month IRA
0.50%$1k-48 Month IRA
0.40%$1k-36 Month IRA
0.30%$1k-24 Month IRA
0.20%$1k-12 Month IRA
Locations


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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