Midwest Bank
FDIC #9737
📍 Detroit Lakes, Minnesota
Midwest Bank is a commercial bank, state charter and fed nonmember, supervised by the fdic. established in 06/01/1917. With assets of $713.36 Million, it operates 7 domestic branches.
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Community Reinvestment Act (CRA) Rating
Latest Exam: July 1, 2024
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
July 1, 2024
Satisfactory
June 1, 2021
Satisfactory
June 1, 2018
Satisfactory
💰 Financial Strength
Total Assets$713.36 Million
Total Deposits$615.73 Million
Equity Capital$65.97 Million
Net Income$12.93 Million
📈 Performance
ROA2.47%
ROE26.72%
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
Established06/01/1917
FDIC Cert9737
Holding CoMidwest Bank Group Inc
Parent CertNA - Not listed as a child of a larger bank.
Last ChangeAugust 31, 2022
Foreign Offices0
SAIF InsuredNo
State CharteredYes
📜 Institutional History
2006
Merger / Acquisition
Acquired: Midwest Bank, National Association
2006
Relocation
Moved HQ to: 613 Highway 10 East, Detroit Lakes, MN 56501.
2003
Relocation
Moved HQ to: 116 East Front Street, Detroit Lakes, MN 56502.
1998
Name Change
Name became: Changed Institution Name To Midwest Bank.
1996
Relocation
Moved HQ to: Main Street, Waubun, MN 56589.