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Northwoods Bank of Minnesota


TODAY'S FEATURED RATES
Member FDIC
APY APY = Annual Percentage Yield Rates as of 6/30/2025
3.50%
Our Rating
4.4  / 5
Capital One
360 Performance Savings
See Offer
Sponsored Note: It only takes about 5 minutes to open a fee-free account. Member FDIC.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 6/30/2025
3.80%
Our Rating
4.2  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to 3.80% APY and up to $300 with direct deposit. Members can unlock our highest savings rate with direct deposit OR by depositing $5,000 or more every 30 days. Terms apply. Member FDIC
Member FDIC
Bonus Amount
up to $300
Our Rating
4.2  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!
Overview / Commentary
northwoodsbank.com
218-732-7221
1200 East First Street
Park Rapids, MN 56470

Northwoods Bank of Minnesota is headquartered in PARK RAPIDS and is the 145th largest bank in the state of Minnesota. It is also the 3,532nd largest bank in the nation. It was established in 1919 and as of March of 2025, it had grown to 32 employees at 4 locations. Northwoods Bank of Minnesota's savings rates are 4X the national average, and it has a B+ health rating.

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Health
B+

Data as of Q1 2025

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #1415
Year Established1919
Employees32
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.7%
Return on Equity - YTD8.7%
Annual Interest Income$1.6MM
Assets and Liabilities
AssetsQ1 2025vs Q1 2024$134.6MM$136MM
LoansQ1 2025vs Q1 2024$74.7MM$75.8MM
DepositsQ1 2025vs Q1 2024$120.3MM$122.3MM
Equity CapitalQ1 2025vs Q1 2024$11.4MM$10.4MM
Loan Loss AllowanceQ1 2025vs Q1 2024$1.1MM$1.1MM
Unbacked Noncurrent LoansQ1 2025vs Q1 2024$0$261K
Real Estate OwnedQ1 2025vs Q1 2024$0$0
TODAY'S FEATURED RATES
Member FDIC
APY APY = Annual Percentage Yield Rates as of 6/30/2025
3.50%
Our Rating
4.4  / 5
Capital One
360 Performance Savings
See Offer
Sponsored Note: It only takes about 5 minutes to open a fee-free account. Member FDIC.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 6/30/2025
3.80%
Our Rating
4.2  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to 3.80% APY and up to $300 with direct deposit. Members can unlock our highest savings rate with direct deposit OR by depositing $5,000 or more every 30 days. Terms apply. Member FDIC
Member FDIC
Bonus Amount
up to $300
Our Rating
4.2  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!
Rates
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Always verify rates and promotions with the bank or credit union. We are not Northwoods Bank of Minnesota; 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.

Northwoods Bank of Minnesota Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.02%*$500k*-High Yield Savings
OTHER TIERS: 0.30% → $10k - $25k | 0.40% → $25k - $50k | 0.75% → $50k - $100k | 1.26% → $100k - $250k | 1.51% → $250k - $500k
0.70%*$250k*-Prime Access
OTHER TIERS: 0.30% → $1k - $25k | 0.35% → $25k - $50k | 0.45% → $50k - $100k | 0.60% → $100k - $250k
0.32%*$50k*-Health Savings
OTHER TIERS: 0.12% → $0 - $1k | 0.17% → $1k - $10k | 0.22% → $10k - $25k | 0.27% → $25k - $50k
0.27%*$100k*-Regular Savings
OTHER TIERS: 0.10% → $0 - $250 | 0.12% → $250 - $1k | 0.17% → $1k - $10k | 0.22% → $10k - $100k

Northwoods Bank of Minnesota Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.32%*$50k*-Money Market
OTHER TIERS: 0.12% → $0 - $1k | 0.17% → $1k - $10k | 0.22% → $10k - $25k | 0.27% → $25k - $50k

Northwoods Bank of Minnesota Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$0-Total Checking

Northwoods Bank of Minnesota CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.05%*$100k*-5 Month CD Special
OTHER TIERS: 3.69% → $10k - $100k
4.05%*$100k*-Business 5 Month CD Special
OTHER TIERS: 3.69% → $10k - $100k
3.51%*$250k*-11 Month CD Special
OTHER TIERS: 2.25% → $1k - $10k | 2.65% → $10k - $100k | 3.25% → $100k - $250k
3.51%*$250k*-Business 11 Month CD Special
OTHER TIERS: 2.25% → $1k - $10k | 2.65% → $10k - $100k | 3.25% → $100k - $250k
Locations


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 First St EPark Rapids, MN 56470
Detached FacilityFirst StreetPark Rapids, MN 56470

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