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 418th largest bank in the nation. It was established in 1941 and as of June of 2019, it had grown to 348 employees at 33 locations. Minnwest Bank's money market rates are 4X the national average, and it boasts an A+ health rating.

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Health Grade Components

FDIC Certificate #16958
Year Established1941
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.05%
Return on Equity - YTD9.56%
Annual Interest Income$49.0MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$2.05B$1.75B
LoansQ2 2019vs Q2 2018$1.66B$1.45B
DepositsQ2 2019vs Q2 2018$1.74B$1.52B
Equity CapitalQ2 2019vs Q2 2018$225.0MM$185.5MM
Loan Loss AllowanceQ2 2019vs Q2 2018$25.4MM$23.5MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$5.5MM$11.8MM
Real Estate OwnedQ2 2019vs Q2 2018$3.6MM$5.1MM
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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

1.61%*$1m*-Platinum Business Savings
OTHER TIERS: 0.40% $10k - $100k | 1.06% $100k - $500k | 1.41% $500k - $1m
0.30%*$30k*-Automatic Savings
OTHER TIERS: 0.10% Up to $30k
0.30%*$30k*-Health Savings Account
OTHER TIERS: 0.10% Up to $10k | 0.20% $10k - $30k
0.15%$300-Classic Business Savings
0.10%--Thrift Savings
0.10%--Money Magic Savings Club

Minnwest Bank Money Market Rates

1.81%*$30k*-Money Market Savings
OTHER TIERS: 0.10% Up to $10k | 1.26% $10k - $30k
1.41%*$500k*-Money Max Savings
OTHER TIERS: 0.15% Up to $25k | 0.40% $25k - $100k | 0.55% $100k - $225k | 0.80% $225k - $500k

Minnwest Bank Checking Account Rates

1.51%*-$10kDigital Checking - Online Exclusive
OTHER TIERS: 0.50% $10k+
0.50%*$500k*-Non-Profit Business Checking
OTHER TIERS: 0.15% Up to $150k | 0.30% $150k - $500k
0.30%*$50k*-Minnwest Platinum Checking
OTHER TIERS: 0.10% Up to $25k | 0.20% $25k - $50k

Minnwest Bank CD Rates

1.91%$1k-6 Month Digital CD Special -- Online Only
1.85%$5k-13 Month Classic CD Special
1.85%$1k-12 Month Digital CD Special -- Online Only


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