2. Minnwest Bank

Minnwest Bank

Popular Accounts at this Bank

APYACCOUNT TYPEHOW THEY COMPARE
2.35%1-year CD
2.75% - Goldman Sachs Bank USA High-yield 12 Month CDAdvertisement
0.10%Savings
2.25% - Goldman Sachs Bank USA High-yield Online Savings AccountAdvertisement
2.75%3-year CD
1.85% - National Average
View all Minnwest Bank rates »

Overview / Commentary
minnwestbank.com
507-637-4357
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 452nd largest bank in the nation. It was established in 1941 and as of September of 2018, it had grown to 335 employees at 28 locations. Minnwest Bank's money market rates are 3X the national average, and it boasts an A+ health rating.

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Health
A+

Data as of Q3 2018

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #16958
Year Established1941
Employees335
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.06%
Return on Equity - YTD9.97%
Annual Interest Income$59.2MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$1.83B$1.64B
LoansQ3 2018vs Q3 2017$1.52B$1.37B
DepositsQ3 2018vs Q3 2017$1.58B$1.42B
Equity CapitalQ3 2018vs Q3 2017$200.4MM$175.4MM
Loan Loss AllowanceQ3 2018vs Q3 2017$24.0MM$21.4MM
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$7.8MM$13.2MM
Real Estate OwnedQ3 2018vs Q3 2017$4.5MM$8.3MM
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Minnwest Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.61%*$1m*-Platinum Business Savings
OTHER TIERS: 0.40% → $10k - $100k | 1.06% → $100k - $500k | 1.51% → $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

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.51%*$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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.75%$1k-30 Month Digital CD Special - Online Only
2.35%$5k-13 Month CD Special
2.35%$1k-12 Month Digital CD Special
2.00%$5k-9 Month CD Special

Minnwest Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.35%$5k-13 Month IRA Special
2.00%$5k-9 Month IRA Special
Locations

Availability



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