Minnwest Bank

Overview / Commentary

www.minnwestbank.com

507-637-4357

300 South Washington Street
Redwood Falls, MN 56283

Minnwest Bank is headquartered in Redwood Falls and is the 5^th largest bank in the state of Minnesota. It is also the 422^nd largest bank in the nation. It was established in 1941 and as of December of 2019, it had grown to 343 employees at 33 locations. Minnwest Bank's savings rates are 3X the national average, and it has an A health rating.

View all posts from:

2009

8/10 - 2.50% Savings Account with Rate Guaranteed Until 2010 at Minnwest Bank in MN & SD - Local Only

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Health

Data as of Q4 2019

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Health Grade Components

Overall
FDIC Certificate #	16958
Year Established	1941
Employees	343
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	1.07%
Return on Equity - YTD	9.64%
Annual Interest Income	$97.4MM

Assets and Liabilities
Assets	Q4 2019vs Q4 2018	$2.07B$1.99B
Loans	Q4 2019vs Q4 2018	$1.65B$1.62B
Deposits	Q4 2019vs Q4 2018	$1.78B$1.73B
Equity Capital	Q4 2019vs Q4 2018	$232.2MM$217.3MM
Loan Loss Allowance	Q4 2019vs Q4 2018	$27.0MM$24.3MM
Unbacked Noncurrent Loans	Q4 2019vs Q4 2018	$7.0MM$7.3MM
Real Estate Owned	Q4 2019vs Q4 2018	$3.0MM$4.8MM

Rates

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Savings
Money Market
Checking
CD

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

Minnwest Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
1.46%^*	$500k^*	-	Investment Savings
OTHER TIERS: 0.10% → Up to $50k \| 0.45% → $50k - $100k \| 0.95% → $100k - $250k \| 1.21% → $250k - $500k
0.75%^*	$500k^*	-	Platinum Business Savings
OTHER TIERS: 0.25% → $10k - $100k \| 0.50% → $100k - $500k
0.20%^*	$10k^*	-	Health Savings Account
OTHER TIERS: 0.10% → Up to $10k
0.15%	$300	-	Classic Business Savings
0.10%	-	-	Thrift Savings
0.10%	-	-	Money Magic Savings Club

Minnwest Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.75%^*	$500k^*	-	Money Max Savings
OTHER TIERS: 0.10% → Up to $25k \| 0.25% → $25k - $100k \| 0.40% → $100k - $225k \| 0.50% → $225k - $500k

Minnwest Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.50%	-	-	Digital Checking - Online Exclusive
0.30%^*	$500k^*	-	Non-Profit Business Checking
OTHER TIERS: 0.15% → Up to $150k \| 0.20% → $150k - $500k
0.20%^*	$50k^*	-	Minnwest Platinum Checking
OTHER TIERS: 0.10% → Up to $25k \| 0.15% → $25k - $50k

Minnwest Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
0.95%	$1k	-	6 Month Digital CD Special -- Online Only
0.85%	$5k	-	Classic 5 Month CD Special
0.55%	$1k	-	12 Month Digital CD Special -- Online Only
0.55%	$5k	-	Classic 12 Month Money Manager CD Special

Locations

Availability

Minneapolis Area

Minneapolis Area bank & credit union details

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