Minnwest Bank


Overview / Commentary
888-616-2265
300 South Washington Street
Redwood Falls, MN 56283

Minnwest Bank is headquartered in Redwood Falls and is the 7th largest bank in the state of Minnesota. It is also the 454th largest bank in the nation. It was established in 1941 and as of March of 2021, it had grown to 331 employees at 34 locations. Minnwest Bank has an A health rating.

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Health

Health Grade Components

Overall
FDIC Certificate #16958
Year Established1941
Employees331
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.27%
Return on Equity - YTD11.89%
Annual Interest Income$23.1MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$2.36B$2.03B
LoansQ1 2021vs Q1 2020$1.62B$1.65B
DepositsQ1 2021vs Q1 2020$2.07B$1.71B
Equity CapitalQ1 2021vs Q1 2020$250.5MM$234.5MM
Loan Loss AllowanceQ1 2021vs Q1 2020$29.4MM$27.6MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$10.9MM$11.1MM
Real Estate OwnedQ1 2021vs Q1 2020$8.0MM$2.8MM
Rates
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Minnwest Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*-$10kMinnwest Digital Checking
OTHER TIERS: 0.05% $10k+
Locations

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