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Minnwest Bank


TODAY'S FEATURED RATES
Member FDIC
APY APY = Annual Percentage Yield Rates as of 1/14/2025
3.80%
Our Rating
4.2  / 5
American Express®
High Yield Savings Account
See Offer
Sponsored Note: Interest compounds daily, deposited monthly
Member FDIC
APY APY = Annual Percentage Yield Rates as of 1/14/2025
4.00%
Our Rating
4.6  / 5
SoFi Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to 4.00% APY and up to $300 with direct deposit. Members can unlock our highest savings rate with direct deposit OR by depositing $5,000 or more every 30 days. Terms Apply. Member FDIC
Member FDIC
APY APY = Annual Percentage Yield Rates as of 1/14/2025
4.50%
Our Rating
3.5  / 5
Jenius Bank
Jenius Savings Account
See Offer
Sponsored Note: FDIC Insured. No fees or minimums. 24/7 U.S-based support.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 1/14/2025
4.46%
Our Rating
4.0  / 5
Vio Bank
Cornerstone Money Market
See Offer
Sponsored Note: Interest is compounded daily, growing your money fast
Member FDIC
APY APY = Annual Percentage Yield Rates as of 1/14/2025
4.75%
Our Rating
4.2  / 5
BrioDirect
High-Yield Savings
See Offer
Sponsored Note: You must deposit at least $5,000 to open your account. Member FDIC
Overview / Commentary
www.minnwestbank.com
507-637-5731
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 386th largest bank in the nation. It was established in 1941 and as of September of 2024, it had grown to 384 employees at 37 locations. Minnwest Bank has a B+ health rating.

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Health
B+

Data as of Q3 2024

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #16958
Year Established1941
Employees384
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.66%
Return on Equity - YTD7.38%
Annual Interest Income$117.9MM
Assets and Liabilities
AssetsQ3 2024vs Q3 2023$3.16B$2.95B
LoansQ3 2024vs Q3 2023$2.26B$2.12B
DepositsQ3 2024vs Q3 2023$2.74B$2.52B
Equity CapitalQ3 2024vs Q3 2023$293.8MM$260MM
Loan Loss AllowanceQ3 2024vs Q3 2023$33.3MM$30.8MM
Unbacked Noncurrent LoansQ3 2024vs Q3 2023$6.5MM$11.6MM
Real Estate OwnedQ3 2024vs Q3 2023$8.2MM$8.1MM
TODAY'S FEATURED RATES
Member FDIC
APY APY = Annual Percentage Yield Rates as of 1/14/2025
3.80%
Our Rating
4.2  / 5
American Express®
High Yield Savings Account
See Offer
Sponsored Note: Interest compounds daily, deposited monthly
Member FDIC
APY APY = Annual Percentage Yield Rates as of 1/14/2025
4.00%
Our Rating
4.6  / 5
SoFi Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to 4.00% APY and up to $300 with direct deposit. Members can unlock our highest savings rate with direct deposit OR by depositing $5,000 or more every 30 days. Terms Apply. Member FDIC
Member FDIC
APY APY = Annual Percentage Yield Rates as of 1/14/2025
4.50%
Our Rating
3.5  / 5
Jenius Bank
Jenius Savings Account
See Offer
Sponsored Note: FDIC Insured. No fees or minimums. 24/7 U.S-based support.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 1/14/2025
4.46%
Our Rating
4.0  / 5
Vio Bank
Cornerstone Money Market
See Offer
Sponsored Note: Interest is compounded daily, growing your money fast
Member FDIC
APY APY = Annual Percentage Yield Rates as of 1/14/2025
4.75%
Our Rating
4.2  / 5
BrioDirect
High-Yield Savings
See Offer
Sponsored Note: You must deposit at least $5,000 to open your account. Member FDIC
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 Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$0$10kMinnwest Digital Checking
OTHER TIERS: 0.05% → $10k+
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