Northwest Bank


Overview / Commentary
712-580-4100
705 Grand Ave
Spencer, IA 51301

Northwest Bank is headquartered in SPENCER and is the 6th largest bank in the state of Iowa. It is also the 425th largest bank in the nation. It was established in 1988 and as of September of 2024, it had grown to 396 employees at 23 locations. Northwest Bank's money market rates are 6X the national average, and it has an A health rating.

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Health

Health Grade Components

Overall
FDIC Certificate #32647
Year Established1988
Employees396
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.5%
Return on Equity - YTD6.2%
Annual Interest Income$104.7MM
Assets and Liabilities
AssetsQ3 2024vs Q3 2023$2.92B$2.56B
LoansQ3 2024vs Q3 2023$2.24B$1.93B
DepositsQ3 2024vs Q3 2023$2.5B$1.96B
Equity CapitalQ3 2024vs Q3 2023$255.5MM$186.4MM
Loan Loss AllowanceQ3 2024vs Q3 2023$28.9MM$24.3MM
Unbacked Noncurrent LoansQ3 2024vs Q3 2023$10MM$4.7MM
Real Estate OwnedQ3 2024vs Q3 2023$0$150K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Northwest Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.95%*$1m*-Estate Savings
OTHER TIERS: 1.05% $0 - $20k | 1.15% $20k - $50k | 1.20% $50k - $100k | 1.25% $100k - $500k | 1.70% $500k - $1m
1.95%*$1m*-Business Savings
OTHER TIERS: 1.05% $0 - $20k | 1.15% $20k - $50k | 1.20% $50k - $100k | 1.25% $100k - $500k | 1.70% $500k - $1m
1.15%*$0$20kCompass Savings Account
OTHER TIERS: 0.40% $20k+
0.80%*$10k*-Statement Savings
OTHER TIERS: 0.65% $10 - $10k
0.80%*$10k*-Student / Treasure Seekers
OTHER TIERS: 0.65% $10 - $10k
0.70%$0-First time Homebuyer Saving Account
0.60%*$50k*-IRA Savings
OTHER TIERS: 0.50% $10 - $20k | 0.55% $20k - $50k
0.40%*$2.5k*-Health Savings Account
OTHER TIERS: 0.35% $0 - $2.5k

Northwest Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.45%*$500k*-Money Market
OTHER TIERS: 1.30% $1k - $50k | 1.55% $50k - $100k | 2.05% $100k - $250k | 2.30% $250k - $500k
2.30%*$1m*-Business Money Market
OTHER TIERS: 1.00% $0 - $250k | 1.25% $250k - $500k | 1.75% $500k - $1m

Northwest Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.56%*$25k*-Compass Rewards Account
OTHER TIERS: 0.01% $0 - $25k
1.90%*$1m*-Business Insured Cash Sweep
OTHER TIERS: 0.60% $0 - $250k | 0.85% $250k - $500k | 1.35% $500k - $1m
0.80%*$1m*-Commercial Analysis Checking
OTHER TIERS: 0.15% $0 - $20k | 0.25% $20k - $50k | 0.45% $50k - $100k | 0.60% $100k - $500k | 0.65% $500k - $1m
0.75%*$100k*-Compass Relationship Account
OTHER TIERS: 0.50% $0+ | 0.60% $50k - $100k
0.30%$0-Community Checking
Locations

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