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101 West 5th Street
Spencer, IA 51301

Northwest Bank is headquartered in Spencer and is the 7th largest bank in the state of Iowa. It is also the 531st largest bank in the nation. It was established in 1988 and as of September of 2017, it had grown to 310 employees at 20 locations. Northwest Bank has an A+ health rating.

Reviews (1)

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.


Health Grade Components

FDIC Certificate #32647
Year Established1988
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.48%
Return on Equity - YTD15.26%
Annual Interest Income$40.7MM
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$1.50B$1.42B
LoansQ3 2017vs Q3 2016$1.15B$1.16B
DepositsQ3 2017vs Q3 2016$1.27B$1.20B
Equity CapitalQ3 2017vs Q3 2016$146.8MM$140.1MM
Loan Loss AllowanceQ3 2017vs Q3 2016$16.9MM$16.7MM
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$1.3MM$2.0MM
Real Estate OwnedQ3 2017vs Q3 2016$0$117.00K
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Northwest Bank CD Rates

1.75%$1k-38 Month Customized Jump Up eCD

Northwest Bank IRA Rates

1.75%$1k-38 Month Customized Jump Up IRA