Minnwest Bank

Overview / Commentary
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 466th largest bank in the nation. It was established in 1941 and as of June of 2021, it had grown to 334 employees at 34 locations. Minnwest Bank has an A health rating.


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Health Grade Components

FDIC Certificate #16958
Year Established1941
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.22%
Return on Equity - YTD11.3%
Annual Interest Income$44.9MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$2.32B$2.23B
LoansQ2 2021vs Q2 2020$1.57B$1.75B
DepositsQ2 2021vs Q2 2020$2.02B$1.89B
Equity CapitalQ2 2021vs Q2 2020$254.3MM$241.8MM
Loan Loss AllowanceQ2 2021vs Q2 2020$30.1MM$28.0MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$17.2MM$18.9MM
Real Estate OwnedQ2 2021vs Q2 2020$8.1MM$2.5MM
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Minnwest Bank Checking Account Rates

0.50%*-$10kMinnwest Digital Checking
OTHER TIERS: 0.05% $10k+


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