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 405th largest bank in the nation. It was established in 1941 and as of March of 2023, it had grown to 383 employees at 38 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 - YTD0.8%
Return on Equity - YTD9.11%
Annual Interest Income$30.3MM
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$2.86B$2.69B
LoansQ1 2023vs Q1 2022$2.01B$1.83B
DepositsQ1 2023vs Q1 2022$2.51B$2.40B
Equity CapitalQ1 2023vs Q1 2022$254.2MM$246.5MM
Loan Loss AllowanceQ1 2023vs Q1 2022$30.6MM$30.6MM
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$10.4MM$16.9MM
Real Estate OwnedQ1 2023vs Q1 2022$10.2MM$7.8MM
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Minnwest Bank Checking Account Rates

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


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