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 5th largest bank in the state of Minnesota. It is also the 417th largest bank in the nation. It was established in 1941 and as of June of 2022, it had grown to 402 employees at 38 locations. Minnwest Bank has an A health rating.

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Health

Health Grade Components

Overall
FDIC Certificate #16958
Year Established1941
Employees402
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.08%
Return on Equity - YTD11.7%
Annual Interest Income$47.5MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$2.66B$2.32B
LoansQ2 2022vs Q2 2021$1.89B$1.57B
DepositsQ2 2022vs Q2 2021$2.38B$2.02B
Equity CapitalQ2 2022vs Q2 2021$241.1MM$254.3MM
Loan Loss AllowanceQ2 2022vs Q2 2021$30.9MM$30.1MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$15.4MM$17.2MM
Real Estate OwnedQ2 2022vs Q2 2021$8.0MM$8.1MM
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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