Minnwest Bank

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 5^th largest bank in the state of Minnesota. It is also the 405^th 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.

View all posts from:

2009

8/10 - 2.50% Savings Account with Rate Guaranteed Until 2010 at Minnwest Bank in MN & SD - Local Only

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Health

B+

Data as of Q1 2023

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Health Grade Components

Overall
FDIC Certificate #	16958
Year Established	1941
Employees	383
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.8%
Return on Equity - YTD	9.11%
Annual Interest Income	$30.3MM

Assets and Liabilities
Assets	Q1 2023vs Q1 2022	$2.86B$2.69B
Loans	Q1 2023vs Q1 2022	$2.01B$1.83B
Deposits	Q1 2023vs Q1 2022	$2.51B$2.40B
Equity Capital	Q1 2023vs Q1 2022	$254.2MM$246.5MM
Loan Loss Allowance	Q1 2023vs Q1 2022	$30.6MM$30.6MM
Unbacked Noncurrent Loans	Q1 2023vs Q1 2022	$10.4MM$16.9MM
Real Estate Owned	Q1 2023vs Q1 2022	$10.2MM$7.8MM

Rates

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Checking

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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

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.50%^*	-	$10k	Minnwest Digital Checking
OTHER TIERS: 0.05% → $10k+

Locations

Availability

Minneapolis Area

Minneapolis Area bank & credit union details

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