Northwest Bank

Overview / Commentary
101 West 5th Street
Spencer, IA 51301

Northwest Bank is headquartered in Spencer and is the 8th largest bank in the state of Iowa. It is also the 513th largest bank in the nation. It was established in 1988 and as of December of 2019, it had grown to 299 employees at 20 locations. Northwest Bank has an A health rating.

Related Posts

Northwest Bank Compass Rewards Checking Earns 3.04% APY - 12/20/2019

Northwest Bank is currently offering its Compass Rewards Checking (3.04% APY, up to $25k) to residents of IA, MN, NE, and SD through online application.

Reviews (2)

Northwest bank review

Overall I really like Northwest bank. They have a friendly staff and I never spend much time inside the bank doing any transaction. The only account that I use is a checking account. I prefer a checking account because it is easier with withdraw my money. I use a debit card and have my money whenever I want it. Their online banking is the best feature they have though. It is very secure, and it has many features. You can check all of your account just like at the actual bank, and also see all of your transaction history which I really like. The other day I no longer wanted to receive bank statements in the mail, so I went online and requested them to be canceled. It is very efficient and useful.

If You Looking To Build Credibility Don’T Use This Bank

Posted by: |

After 8 years I am closing my business, checking and saving account, I was able to build equity for over a millón dollars in real state, however I wasn’t elegible for a car loan, I was not good enough to access to an small credit or refinanced my student loans with this Bank. I will be looking for a better bank right now.


Health Grade Components

FDIC Certificate #32647
Year Established1988
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.48%
Return on Equity - YTD15.17%
Annual Interest Income$71.4MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$1.69B$1.61B
LoansQ4 2019vs Q4 2018$1.38B$1.30B
DepositsQ4 2019vs Q4 2018$1.42B$1.32B
Equity CapitalQ4 2019vs Q4 2018$165.9MM$153.1MM
Loan Loss AllowanceQ4 2019vs Q4 2018$17.3MM$17.5MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$3.5MM$4.0MM
Real Estate OwnedQ4 2019vs Q4 2018$1.6MM$0

Rates for Northwest Bank are currently being reviewed.



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