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 6th largest bank in the state of Minnesota. It is also the 443rd largest bank in the nation. It was established in 1941 and as of June of 2020, it had grown to 336 employees at 33 locations. Minnwest Bank has an A health rating.

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Health

Health Grade Components

Overall
FDIC Certificate #16958
Year Established1941
Employees336
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.21%
Return on Equity - YTD10.77%
Annual Interest Income$47.2MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$2.23B$2.05B
LoansQ2 2020vs Q2 2019$1.75B$1.66B
DepositsQ2 2020vs Q2 2019$1.89B$1.74B
Equity CapitalQ2 2020vs Q2 2019$241.8MM$225.0MM
Loan Loss AllowanceQ2 2020vs Q2 2019$28.0MM$25.4MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$18.9MM$5.5MM
Real Estate OwnedQ2 2020vs Q2 2019$2.5MM$3.6MM
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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Minneapolis Area

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