Bank Midwest

1525 18th Street
Spirit Lake, IA 51360

Notable Rates APY Vs.Others
Savings 0.10% 2.20% →
1-Year CD 0.70% 2.20% →
2-Year CD 1.10% 2.65% →
5-Year CD 1.70% 2.60% →
30-Year Mortgage 3.75% 3.31% →
15-Year Mortgage 3.34% 2.77% →
HELOC N.A. 4.00% →

2020 Overview

General Bank Information

Bank Midwest is an FDIC insured institution located in Spirit Lake, IA. It was founded in 1887 and has approximately $0.94 billion in assets. Customers can open an account at one of its 11 branches.

FDIC Insured Yes
FDIC Certificate # 5170
Date Established 1887
Assets $0.94 billion
Loans $0.72 billion
Deposits $0.83 billion
Capital $0.09 billion

For a more detailed analysis of Bank Midwest's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - February 28, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
0.35% $500 $249,999 Learn MoreShow Less
0.70% $500 $249,999 Learn MoreShow Less
Special: 15 Mo CD
1.40% $10,000 - Learn MoreShow Less
0.90% $500 $249,999 Learn MoreShow Less
1.10% $500 $249,999 Learn MoreShow Less
Special: 25 Mo CD
1.60% $10,000 - Learn MoreShow Less
1.30% $500 $249,999 Learn MoreShow Less
1.50% $500 $249,999 Learn MoreShow Less
1.60% $500 $249,999 Learn MoreShow Less
1.70% $500 $249,999 Learn MoreShow Less

0.70% $1 $249,999 Learn MoreShow Less
Special: 15 Mo FIRA
1.40% $500 - Learn MoreShow Less
Special: 25 Mo FIRA
1.60% $500 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
0.10% $1 $9,999 Learn MoreShow Less

Loan Rates - February 28, 2020

Your Current Location: Virginia, VA 20146

Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.


Bank Midwest branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

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Bank Midwest Locations

Financial Details

Bank Midwest Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Bank Midwest. The data is provided by the FDIC. All banks listed on are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Bank Midwest U.S. Bank Average
7% 6.70%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of September 30, 2019, Bank Midwest had $7,012,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $91,317,000 in equity and $8,789,000 in loans loss reserves. That gives it a Texas Ratio of 7%.

Return on Equity
Bank Midwest U.S. Bank Average
11.23% 9.72%

Bank Midwest has a Return on Equity of 11.23% versus the BestCashCow average of 9.72%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Bank Midwest U.S. Bank Average
9.72% 12.89%

Bank Midwest has a Capitalization of 9.72% versus the BestCashCow average of 12.89. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Bank Midwest Balance Sheet Analysis

As of September 30, 2019, Bank Midwest had assets of $939,201,000, loans of $723,086,000, and deposits of $833,068,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

September 30, 2019
Cash & Balances due from depository institutions $0.05 billion
Interest-bearing balances $0.04 billion
Total securities $0.10 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.72 billion
Loan loss allowance $0.01 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.01 billion
All other assets $0.03 billion
     Total Assets $0.85 billion
Total deposits $0.83 billion
      Interest-bearing deposits $0.70 billion
      Deposits held in domestic offices $0.83 billion
      % insured (estimated) 75.99%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.01 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.85 billion
      Shareholders’ Equity $0.09 billion

Summary Income Statement

September 30, 2019
Total Interest Income $0.03 billion
Total Interest Expense $0.01 billion
Net interest income $0.03 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.01 billion
Total non interest expense $0.02 billion
Pre-tax Net Operating Income $0.01 billion

Bank Loan Profile?

The top three loan types in Bank Midwest’s loan portfolio are Commercial and Industrial Loans, Farm Loans, and Commercial Real Estate.

Compared to other banks in Iowa, Bank Midwest has a significantly higher percent of Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 10.04
Credit Card Loans 0.05
Consumer Auto Loans 0.43
Small Business Loans 0.00
Construction and Development Loans 7.02
Commercial Real Estate 13.26
Commercial and Industrial Loans 28.38
Farm Loans 18.27

Frequently Asked Questions About Bank Midwest

Branches and Savings

Is Bank Midwest FDIC insured?

Yes. It is covered under FDIC Certificate #5170.

Why does Bank Midwest pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Bank Midwest CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Bank Midwest a commercial bank?


Where are Bank Midwest locations?

See branch locations nearby.

Is Bank Midwest open on Saturdays?

Is Bank Midwest open on Sundays?

What time does Bank Midwest open?

What time does Bank Midwest close?

Are Bank Midwest ATMs Open 24/7?

Do Bank Midwest ATMs accept cash deposits?

Can Bank Midwest customers use other ATMs?

Do Bank Midwest branches have notaries?

Will Bank Midwest notarize my document?

What address for Bank Midwest should I put for incoming ACH transfers?

Will the Bank Midwest branch print checks?

Do Bank Midwest checks expire?

Does Bank Midwest require US citizenship to open account?

Can Bank Midwest close my account?

Does Bank Midwest Report to credit bureaus?

Does Bank Midwest Use Equifax?

What is Bank Midwest's ACH Routing Number?

What is Bank Midwest's SWIFT code?


Does Bank Midwest offer mortgages?

Compare mortgage rates here.

Does Bank Midwest offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Bank Midwest offer personal loans?

Compare personal loan rates here.

Does Bank Midwest offer student loans?

Will Bank Midwest cash a check?

Will Bank Midwest redeem a savings bond?

Does Bank Midwest cash savings bonds?

Will Bank Midwest cash money orders?

Can Bank Midwest issue a money order?

Does Bank Midwest do currency exchange?

Background on The Bank

Who owns Bank Midwest?

How long has Bank Midwest been around?

Can Bank Midwest transfer to other banks?

Does Bank Midwest have quick pay?

Does Bank Midwest accept rolled coins?

Will Bank Midwest accept loose change?

Where is Bank Midwest headquarters?

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