Minnwest Bank

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

Minnwest Bank is headquartered in Redwood Falls and is the 5th largest bank in the state of Minnesota. It is also the 422nd 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.

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Health Grade Components

FDIC Certificate #16958
Year Established1941
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.07%
Return on Equity - YTD9.64%
Annual Interest Income$97.4MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$2.07B$1.99B
LoansQ4 2019vs Q4 2018$1.65B$1.62B
DepositsQ4 2019vs Q4 2018$1.78B$1.73B
Equity CapitalQ4 2019vs Q4 2018$232.2MM$217.3MM
Loan Loss AllowanceQ4 2019vs Q4 2018$27.0MM$24.3MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$7.0MM$7.3MM
Real Estate OwnedQ4 2019vs Q4 2018$3.0MM$4.8MM
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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

1.46%*$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

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

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

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


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