Bankwest
FDIC #16704
📍 Rockford, Minnesota
Bankwest is a commercial bank, state charter and fed nonmember, supervised by the fdic. established in 01/01/1948. With assets of $244.77 Million, it operates 3 domestic branches.
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Community Reinvestment Act (CRA) Rating
Latest Exam: June 1, 2021
What is CRA? The Community Reinvestment Act (CRA) is a federal law that encourages banks to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods.
Rating History
June 1, 2021
Satisfactory
September 1, 2015
Satisfactory
November 1, 2009
Satisfactory
💰 Financial Strength
Total Assets$244.77 Million
Total Deposits$223.82 Million
Equity Capital$7.95 Million
Net Income$1.69 Million
📈 Performance
ROA0.94%
ROE25.68%
Financial Terms:
ROA (Return on Assets): Measures profitability relative to size. 1.0%+ is good.
ROE (Return on Equity): Measures profitability for shareholders. 10%+ is strong.
ROA (Return on Assets): Measures profitability relative to size. 1.0%+ is good.
ROE (Return on Equity): Measures profitability for shareholders. 10%+ is strong.
📋 Corporate Structure
Established01/01/1948
FDIC Cert16704
Holding CoBankwest Financial Inc
Parent CertNA - Not listed as a child of a larger bank.
Last ChangeAugust 31, 2022
Foreign Offices0
SAIF InsuredNo
State CharteredYes
🕰️ Lobby Hours
Monday8:30 AM - 5:00 PM
Tuesday8:30 AM - 5:00 PM
Wednesday8:30 AM - 5:00 PM
Thursday8:30 AM - 5:00 PM
Friday8:30 AM - 5:00 PM
Saturday8:30 AM - 12:00 PM
SundayClosed
📜 Institutional History
2006
Name Change
Name became: Changed Institution Name To Bankwest.
2000
Name Change
Name became: Changed Institution Name To Rockford State Bank.
2000
Relocation
Moved HQ to: 5921 Main Street, Rockford, MN 55373.