Northwoods Bank of Minnesota

Overview / Commentary
1200 East First Street
Park Rapids, MN 56470

Northwoods Bank of Minnesota is headquartered in Park Rapids and is the 149th largest bank in the state of Minnesota. It is also the 3,739th largest bank in the nation. It was established in 1919 and as of June of 2020, it had grown to 31 employees at 4 locations. Northwoods Bank of Minnesota has an A+ health rating.


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Health Grade Components

FDIC Certificate #1415
Year Established1919
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.42%
Return on Equity - YTD12.45%
Annual Interest Income$2.6MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$127.1MM$118.5MM
LoansQ2 2020vs Q2 2019$69.4MM$66.2MM
DepositsQ2 2020vs Q2 2019$103.5MM$96.6MM
Equity CapitalQ2 2020vs Q2 2019$14.8MM$13.4MM
Loan Loss AllowanceQ2 2020vs Q2 2019$887.00K$769.00K
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$737.00K$615.00K
Real Estate OwnedQ2 2020vs Q2 2019$0$703.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Northwoods Bank of Minnesota Savings Account Rates

0.45%*$250k*-Millennium Savings
OTHER TIERS: 0.10% $10k - $25k | 0.15% $25k - $50k | 0.20% $50k - $100k | 0.30% $100k - $250k
0.15%*$100k*-Prime Access
OTHER TIERS: 0.07% $1k - $25k | 0.10% $25k - $50k | 0.13% $50k - $100k
0.15%*$100k*-Business Prime Access
OTHER TIERS: 0.07% $1k - $25k | 0.10% $25k - $50k | 0.13% $50k - $100k
0.10%*$50k*-Health Savings
OTHER TIERS: 0.00% Up to $1k | 0.05% $1k - $10k | 0.07% $10k - $50k
0.05%*$10k*-Regular Savings
OTHER TIERS: 0.00% Up to $10k

Northwoods Bank of Minnesota Money Market Rates

0.10%*$50k*-Money Market
OTHER TIERS: 0.00% Up to $1k | 0.05% $1k - $10k | 0.07% $10k - $50k
0.10%*$50k*-Business Money Market
OTHER TIERS: 0.00% Up to $1k | 0.05% $1k - $10k | 0.07% $10k - $50k

Northwoods Bank of Minnesota Checking Account Rates

0.01%--Total Checking

Northwoods Bank of Minnesota Locations
Pine City Branch1015 Hillside Avenue SwPine City, MN 55063
Bunyan Trails Branch112 Bunyan TrailsNevis, MN 56467
Northwoods Bank Of Minnesota1200 East First StreetPark Rapids, MN 56470
Detached FacilityFirst StreetPark Rapids, MN 56470

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