Minnwest Bank

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Minnwest Bank Locations

Deposit Rates - April 20, 2021

Overview 2021

General Bank Information

FDIC Insured Yes
FDIC Certificate # 16958
Date Established 1941
Assets $ 2.30 billion
Loans $ 1,649.74 million
Deposits $ 1,997.41 million
Capital $ 247.29 million

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 439.52 million
Interest-bearing balances $ 428.80 million
Total securities $ 138.81 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 1,649.74 million
Loan loss allowance $ 28.72 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 8.09 million
Goodwill and other intangibles $ 9.00 million
All other assets $ 35.46 million
     Total Assets $ 2.05 billion

LIABILITIES
Total deposits $ 1,997.41 million
      Interest-bearing deposits $ 1,472.50 million
      Deposits held in domestic offices $ 1,997.41 million
      % insured (estimated) 93.21%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 37.00 million
Subordinated debt N.A.
All other liabilities $ 15.86 millionn
      Total Liabilities $ 2.05 billion
      Shareholders’ Equity $ 247.29 million

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 89.96 million
Total Interest Expense $ 11.90 million
Net interest income $ 78.06 million
Provision for loan and lease losses $ 3.40 million
Total non interest income $ 8.08 million
Total non interest expense $ 51.26 million
Pre-tax Net Operating Income $ 31.48 million

Minnwest Bank is an FDIC insured institution headquartered at 300 South Washington Street, Redwood Falls, MN 56283.
It was founded in 1941 and has approximately $2 billion in assets. Customers can open an account at one of its 24 branches.