Northwest Bank

Overview / Commentary
705 Grand Ave
Spencer, IA 51301

Northwest Bank is headquartered in Spencer and is the 7th largest bank in the state of Iowa. It is also the 489th largest bank in the nation. It was established in 1988 and as of March of 2022, it had grown to 328 employees at 21 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 - YTD1%
Return on Equity - YTD12.51%
Annual Interest Income$16.0MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$2.25B$2.13B
LoansQ1 2022vs Q1 2021$1.53B$1.54B
DepositsQ1 2022vs Q1 2021$1.95B$1.82B
Equity CapitalQ1 2022vs Q1 2021$174.3MM$178.9MM
Loan Loss AllowanceQ1 2022vs Q1 2021$22.2MM$20.8MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$5.6MM$9.3MM
Real Estate OwnedQ1 2022vs Q1 2021$2.2MM$609.00K

Rates for Northwest Bank are currently being reviewed.



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