Northwest Bank

Overview / Commentary
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 493rd largest bank in the nation. It was established in 1988 and as of June of 2022, it had grown to 328 employees at 19 locations. Northwest Bank has an A health rating.

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 - YTD0.96%
Return on Equity - YTD12.31%
Annual Interest Income$33.7MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$2.25B$2.13B
LoansQ2 2022vs Q2 2021$1.58B$1.53B
DepositsQ2 2022vs Q2 2021$1.95B$1.81B
Equity CapitalQ2 2022vs Q2 2021$169.3MM$179.2MM
Loan Loss AllowanceQ2 2022vs Q2 2021$23.0MM$21.2MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$3.9MM$8.4MM
Real Estate OwnedQ2 2022vs Q2 2021$2.0MM$758.00K
Skip to rates for:
Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Northwest Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Northwest Bank Savings Account Rates

0.75%*-$20kCompass Savings Account
OTHER TIERS: 0.20% $20k+

Northwest Bank Checking Account Rates

2.78%*-$25kCompass Rewards Account
OTHER TIERS: 2.75% $25k+


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.