5921 Main Street
Rockford, MN 55373
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 0.85% →
1-Year CD 0.40% 0.70% →
2-Year CD 0.65% 0.80% →
5-Year CD 1.41% 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

BANKWEST is an FDIC insured institution located in Rockford, MN. It was founded in 1948 and has approximately $0.22 billion in assets. Customers can open an account at one of its 3 branches.

FDIC Insured Yes
FDIC Certificate # 16704
Date Established 1948
Assets $ 219.70 million
Loans $ 94.29 million
Deposits $ 202.54 million
Capital $ 16.13 million

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 - September 28, 2021

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
0.10% $2,500 $4,999 Learn More
Money Market
0.25% $2,500 $2,999 Learn More
Money Market
0.25% $10,000 $14,999 Learn More
Money Market
0.25% $25,000 $29,999 Learn More
6 Mo CD
0.25% $10,000 $14,999 Learn More
6 Mo CD
0.25% $100,000 $199,999 Learn More
12 Mo CD
0.40% $10,000 $14,999 Learn More
12 Mo CD
0.40% $100,000 $199,999 Learn More
24 Mo CD
0.65% $10,000 $14,999 Learn More
24 Mo CD
0.65% $100,000 $199,999 Learn More
36 Mo CD
1.00% $10,000 $14,999 Learn More
36 Mo CD
1.00% $100,000 $199,999 Learn More
48 Mo CD
1.21% $10,000 $14,999 Learn More
48 Mo CD
1.21% $100,000 $199,999 Learn More
60 Mo CD
1.41% $10,000 $14,999 Learn More
60 Mo CD
1.41% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.15% $2,500 $3,499 Learn MoreShow Less

Loan Rates - September 28, 2021

Your Current Location: Connecticut, CT 06828

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 - Connecticut 30 Year Fixed Mortgage Rates 2021

Lender APR Rate (%) Monthly
Learn More
NMLS ID: 1907
2.856% 2.750%
0.38 points
$3,438 fees
$1,021 Learn More
NMLS ID: 1907
2.856% 2.750%
0.38 points
$3,438 fees
$1,021 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR 2.990 %
After Intro: 3.750 %
Intro Period: 12 months
$25,000 Learn More
More Info
BMO Harris Bank
BMO Harris Bank
See Table
Intro APR 1.790 %
After Intro: 4.840 %
Intro Period: 6 months
$0 Learn More
More Info
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
2.240 %
$0 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
0.43% 5.29%

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 March 31, 2021, BANKWEST had $75,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $16,131,000 in equity and $1,378,000 in loans loss reserves. That gives it a Texas Ratio of 0.43%.

Return on Equity
BANKWEST U.S. Bank Average
10.83% 11.43%

BANKWEST has a Return on Equity of 10.83% versus the BestCashCow average of 11.43%. 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
7.34% 11.51%

BANKWEST has a Capitalization of 7.34% versus the BestCashCow average of 11.51. 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 March 31, 2021, BANKWEST had assets of $219,702,000, loans of $94,285,000, and deposits of $202,542,000. 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

March 31, 2021
Cash & Balances due from depository institutions $ 25.46 million
Interest-bearing balances $ 20.62 million
Total securities $ 62.17 million
Federal funds sold and reverse repurchase $ 30.18 million
Net loans and leases $ 94.29 million
Loan loss allowance $ 1.38 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 3.62 million
     Total Assets $ 203.57 million
Total deposits $ 202.54 million
      Interest-bearing deposits $ 139.55 million
      Deposits held in domestic offices $ 202.54 million
      % insured (estimated) 83.79%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 1.03 million
      Total Liabilities $ 203.57 million
      Shareholders’ Equity $ 16.13 million

Summary Income Statement

March 31, 2021
Total Interest Income $ 1.47 million
Total Interest Expense $ 0.09 million
Net interest income $ 1.38 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.25 million
Total non interest expense $ 1.19 million
Pre-tax Net Operating Income $ 0.45 million

Bank Loan Profile?

The top three loan types in BANKWEST’s loan portfolio are Commercial and Industrial Loans, Commercial Real Estate, and 1-4 Family Residential 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 23.91
Credit Card Loans 0.00
Consumer Auto Loans 0.53
Small Business Loans 23.79
Construction and Development Loans 6.57
Commercial Real Estate 28.08
Commercial and Industrial Loans 30.78
Farm Loans 0.71

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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