Minnwest Bank
FDIC #16958
📍 Redwood Falls, Minnesota
Minnwest Bank is a commercial bank, state charter and fed nonmember, supervised by the fdic. established in 05/19/1941. With assets of $2.95 Billion, it operates 36 domestic branches.
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★★★★★ David Mehaffey
June 02, 2023
Friendly people. Helped with starting a [-] account. Answered all [-] questions and had [-] signed up within [-] hour.
Community Reinvestment Act (CRA) Rating
Latest Exam: August 1, 2022
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
August 1, 2022
Satisfactory
September 1, 2019
Satisfactory
August 1, 2016
Outstanding
💰 Financial Strength
Total Assets$2.95 Billion
Total Deposits$2.52 Billion
Equity Capital$260.04 Million
Net Income$17.09 Million
📈 Performance
ROA0.79%
ROE8.97%
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
Established05/19/1941
FDIC Cert16958
Holding CoMinnwest Corp
Parent CertNA - Not listed as a child of a larger bank.
Last ChangeAugust 31, 2022
Foreign Offices0
SAIF InsuredNo
State CharteredYes
📜 Institutional History
2021
Merger / Acquisition
Acquired: Roundbank
2018
Merger / Acquisition
Acquired: First State Bank
2018
Merger / Acquisition
Acquired: Peoples State Bank
2018
Merger / Acquisition
Acquired: Security State Bank Of Lewiston
2014
Merger / Acquisition
Acquired: State Bank Of Gibbon