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 443rd largest bank in the nation. It was established in 1941 and as of December of 2020, it had grown to 336 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 - YTD1.08%
Return on Equity - YTD9.76%
Annual Interest Income$90.0MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$2.30B$2.07B
LoansQ4 2020vs Q4 2019$1.65B$1.65B
DepositsQ4 2020vs Q4 2019$2.00B$1.78B
Equity CapitalQ4 2020vs Q4 2019$247.3MM$232.2MM
Loan Loss AllowanceQ4 2020vs Q4 2019$28.7MM$27.0MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$9.5MM$7.0MM
Real Estate OwnedQ4 2020vs Q4 2019$8.1MM$3.0MM
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Minnwest Bank Checking Account Rates

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


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