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Minnwest Bank

Overview / Commentary
300 South Washington Street
Redwood Falls, MN 56283

Minnwest Bank is headquartered in Redwood Falls and is the 4th largest bank in the state of Minnesota. It is also the 430th largest bank in the nation. It was established in 1941 and as of March of 2019, it had grown to 349 employees at 33 locations. Minnwest Bank's money market rates are 4X the national average, and it boasts an A+ health rating.

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Health Grade Components

FDIC Certificate #16958
Year Established1941
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.97%
Return on Equity - YTD8.82%
Annual Interest Income$24.1MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$1.98B$1.69B
LoansQ1 2019vs Q1 2018$1.63B$1.40B
DepositsQ1 2019vs Q1 2018$1.69B$1.45B
Equity CapitalQ1 2019vs Q1 2018$220.7MM$180.6MM
Loan Loss AllowanceQ1 2019vs Q1 2018$25.0MM$22.7MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$7.8MM$14.4MM
Real Estate OwnedQ1 2019vs Q1 2018$4.2MM$5.3MM
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Always verify rates and promotions with the bank or credit union. We are not Minnwest 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.

Minnwest Bank Savings Account Rates

1.61%*$1m*-Platinum Business Savings
OTHER TIERS: 0.40% $10k - $100k | 1.06% $100k - $500k | 1.51% $500k - $1m
0.30%*$30k*-Automatic Savings
OTHER TIERS: 0.10% Up to $30k
0.30%*$30k*-Health Savings Account
OTHER TIERS: 0.10% Up to $10k | 0.20% $10k - $30k
0.15%$300-Classic Business Savings
0.10%--Thrift Savings
0.10%--Money Magic Savings Club

Minnwest Bank Money Market Rates

1.91%*$30k*-Money Market Savings
OTHER TIERS: 0.10% Up to $10k | 1.41% $10k - $30k
1.51%*$500k*-Money Max Savings
OTHER TIERS: 0.15% Up to $25k | 0.40% $25k - $100k | 0.55% $100k - $225k | 0.80% $225k - $500k

Minnwest Bank Checking Account Rates

1.51%*-$10kDigital Checking - Online Exclusive
OTHER TIERS: 0.50% $10k+
0.50%*$500k*-Non-Profit Business Checking
OTHER TIERS: 0.15% Up to $150k | 0.30% $150k - $500k
0.30%*$50k*-Minnwest Platinum Checking
OTHER TIERS: 0.10% Up to $25k | 0.20% $25k - $50k

Minnwest Bank CD Rates

2.17%$1k-6 Month Digital CD Special -- Online Only
2.10%$1k-12 Month Digital CD Special -- Online Only
2.01%$5k-7 Month Classic CD Special
1.90%$5k-13 Month Classic CD Special


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