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 388th largest bank in the nation. It was established in 1941 and as of March of 2024, it had grown to 383 employees at 39 locations. Minnwest Bank has a B+ health rating.


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Health Grade Components

FDIC Certificate #16958
Year Established1941
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.74%
Return on Equity - YTD8.39%
Annual Interest Income$37MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$3.08B$2.86B
LoansQ1 2024vs Q1 2023$2.25B$2.01B
DepositsQ1 2024vs Q1 2023$2.53B$2.51B
Equity CapitalQ1 2024vs Q1 2023$275.8MM$254.2MM
Loan Loss AllowanceQ1 2024vs Q1 2023$32.7MM$30.6MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$11MM$10.4MM
Real Estate OwnedQ1 2024vs Q1 2023$7.9MM$10.2MM
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Minnwest Bank Checking Account Rates

0.50%*$0$10kMinnwest Digital Checking
OTHER TIERS: 0.05% $10k+


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