5921 Main Street
Rockford, MN 55373

Notable Rates APY Vs.Others
Savings 0.10% 2.30% →
1-Year CD 0.40% 2.25% →
2-Year CD 0.65% 2.50% →
5-Year CD 1.41% 2.80% →
30-Year Mortgage N.A. 3.31% →
15-Year Mortgage N.A. 2.77% →
HELOC N.A. 4.00% →

2019 Overview

General Bank Information

BANKWEST is an FDIC insured institution located in Rockford, MN. It was founded in 1948 and has approximately $0.15 billion in assets. Customers can open an account at one of its 3 branches.

FDIC Insured Yes
FDIC Certificate # 16704
Date Established 1948
Assets $0.15 billion
Loans $0.10 billion
Deposits $0.13 billion
Capital $0.01 billion

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

Deposit Rates - November 22, 2019

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.15% $2,000 - Learn MoreShow Less
Premium Money Market Account
0.20% $1 $24,999 Learn MoreShow Less
Premium Money Market Account
0.20% $25,000 $49,999 Learn MoreShow Less
3 Mo CD
0.15% $2,000 - Learn MoreShow Less
6 Mo CD
0.25% $2,000 - Learn MoreShow Less
12 Mo CD
0.40% $2,000 - Learn MoreShow Less
24 Mo CD
0.65% $2,000 - Learn MoreShow Less
36 Mo CD
1.00% $2,000 - Learn MoreShow Less
48 Mo CD
1.21% $2,000 - Learn MoreShow Less
60 Mo CD
1.41% $2,000 - Learn MoreShow Less

Fixed IRA
1.76% $2,000 - Learn MoreShow Less

Loan Rates - November 22, 2019

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for BANKWEST

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Virginia 30 Year Fixed Mortgage Rates 2019

Lender APR Rate (%) Points Fees Monthly
Learn More
First Internet Bank
NMLS ID: 424182
3.537% 3.500% 0.50 $1,142 $1,123 Learn More
NMLS ID: 2890
License#: MC-3098
3.528% 3.500% 0.38 $868 $1,123 Learn More
Rocket Mortgage
NMLS ID: 3030
4.875% 4.875% 0.00 $0 $1,324 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
4.990% 4.990% 0.00 $0 $1,341 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
Figure Home Equity Line
Figure Home Equity Line
0.000 %
$0 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
3.740 %
$0 Learn More
More Info
Atlantic Union Bank
Atlantic Union Bank
4.750 %
$15,000 Learn More
More Info

To upload and update your bank's rates please register. It is free to register and add rates.


BANKWEST 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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BANKWEST Locations

Financial Details

BANKWEST Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of BANKWEST. 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
BANKWEST U.S. Bank Average
5.91% 6.77%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s 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 June 30, 2019, BANKWEST had $725,000 in non-current loans and $224,000 in owned real estate. To cover these potential losses it had $14,814,000 in equity and $1,247,000 in loans loss reserves. That gives it a Texas Ratio of 5.91%.

Return on Equity
BANKWEST U.S. Bank Average
16.29% 9.50%

BANKWEST has a Return on Equity of 16.29% versus the BestCashCow average of 9.50%. 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.

BANKWEST U.S. Bank Average
10.12% 12.76%

BANKWEST has a Capitalization of 10.12% versus the BestCashCow average of 12.76. 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.

BANKWEST Balance Sheet Analysis

As of June 30, 2019, BANKWEST had assets of $146,384,000, loans of $98,606,000, and deposits of $130,691,000. 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

June 30, 2019
Cash & Balances due from depository institutions $0.01 billion
Interest-bearing balances $0.01 billion
Total securities $0.03 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.10 billion
Loan loss allowance $0.00 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 $0.00 billion
All other assets $0.00 billion
     Total Assets $0.13 billion
Total deposits $0.13 billion
      Interest-bearing deposits $0.09 billion
      Deposits held in domestic offices $0.13 billion
      % insured (estimated) 88.25%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.00 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.13 billion
      Shareholders’ Equity $0.01 billion

Summary Income Statement

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

Bank Loan Profile?

The top three loan types in BANKWEST’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Small Business Loans.

Compared to other banks in Minnesota, BANKWEST has a significantly higher percent of Small Business 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 30.37
Credit Card Loans 0.00
Consumer Auto Loans 0.69
Small Business Loans 26.42
Construction and Development Loans 8.05
Commercial Real Estate 31.25
Commercial and Industrial Loans 17.71
Farm Loans 1.14

Frequently Asked Questions About Bankwest

Branches and Savings

Is Bankwest FDIC insured?

Yes. It is covered under FDIC Certificate #16704.

Why does Bankwest pay such low interest on savings accounts?

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

Why are Bankwest CD rates not competitive?

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

Is Bankwest a commercial bank?


Where are Bankwest locations?

See branch locations nearby.

Is Bankwest open on Saturdays?

Is Bankwest open on Sundays?

What time does Bankwest open?

What time does Bankwest close?

Are Bankwest ATMs Open 24/7?

Do Bankwest ATMs accept cash deposits?

Can Bankwest customers use other ATMs?

Do Bankwest branches have notaries?

Will Bankwest notarize my document?

What address for Bankwest should I put for incoming ACH transfers?

Will the Bankwest branch print checks?

Do Bankwest checks expire?

Does Bankwest require US citizenship to open account?

Can Bankwest close my account?

Does Bankwest Report to credit bureaus?

Does Bankwest Use Equifax?

What is Bankwest's ACH Routing Number?

What is Bankwest's SWIFT code?


Does Bankwest offer mortgages?

Compare mortgage rates here.

Does Bankwest offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Bankwest offer personal loans?

Compare personal loan rates here.

Does Bankwest offer student loans?

Will Bankwest cash a check?

Will Bankwest redeem a savings bond?

Does Bankwest cash savings bonds?

Will Bankwest cash money orders?

Can Bankwest issue a money order?

Does Bankwest do currency exchange?

Background on The Bank

Who owns Bankwest?

How long has Bankwest been around?

Can Bankwest transfer to other banks?

Does Bankwest have quick pay?

Does Bankwest accept rolled coins?

Will Bankwest accept loose change?

Where is Bankwest headquarters?

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