Great Midwest Bank, S.S.B.

Headquarters

15900 West Bluemound Road
Brookfield, WI 53005
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 1.05% →
1-Year CD 0.80% 0.95% →
2-Year CD 1.05% 1.05% →
5-Year CD 1.15% 1.30% →
30-Year Mortgage 3.77% 2.80% →
15-Year Mortgage 3.29% 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Great Midwest Bank, S.S.B. is an FDIC insured institution located in Brookfield, WI. It was founded in 1936 and has approximately $0.85 billion in assets. Customers can open an account at one of its 9 branches.

FDIC Insured Yes
FDIC Certificate # 29657
Date Established 1936
Assets $ 849.04 million
Loans $ 733.83 million
Deposits $ 524.28 million
Capital $ 133.10 million
 

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

Deposit Rates - September 21, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $2,500 $4,999 Learn More
Money Market
0.35% $2,500 $2,999 Learn More
Money Market
0.35% $10,000 $14,999 Learn More
Money Market
0.60% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.60% $10,000 $14,999 Learn More
3 Mo CD
0.60% $100,000 $199,999 Learn More
6 Mo CD
0.70% $10,000 $14,999 Learn More
6 Mo CD
0.70% $100,000 $199,999 Learn More
12 Mo CD
0.80% $10,000 $14,999 Learn More
12 Mo CD
0.80% $100,000 $199,999 Learn More
Special: 15 Mo CD
0.90% $5,000 - Learn More
Special: 21 Mo CD
1.20% $5,000 - Learn More
24 Mo CD
1.05% $10,000 $14,999 Learn More
24 Mo CD
1.05% $100,000 $199,999 Learn More
48 Mo CD
1.10% $10,000 $14,999 Learn More
48 Mo CD
1.10% $100,000 $199,999 Learn More
60 Mo CD
1.15% $10,000 $14,999 Learn More
60 Mo CD
1.15% $100,000 $199,999 Learn More

Fixed IRA Rates APY MIN MAX
Special: 15 Mo FIRA
0.90% $5,000 - Learn MoreShow Less
Special: 21 Mo FIRA
1.20% $5,000 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $1 $99 Learn MoreShow Less
Int Ckg
0.10% $2,500 $3,499 Learn MoreShow Less

Loan Rates - September 21, 2020

Your Current Location: Connecticut, CT 06828

Home Equity Rates APR Rate Monthly Payment
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.

Branches

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

Your Location:
Fairfield,Connecticut


Great Midwest Bank, S.S.B. Locations


Financial Details

Great Midwest Bank, S.S.B. Ratio Analysis

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

Texas Ratio
Great Midwest Bank, S.S.B. U.S. Bank Average
4.11% 6.94%

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, 2020, Great Midwest Bank, S.S.B. had $3,909,000 in non-current loans and $1,690,000 in owned real estate. To cover these potential losses it had $133,096,000 in equity and $3,141,000 in loans loss reserves. That gives it a Texas Ratio of 4.11%.

Return on Equity
Great Midwest Bank, S.S.B. U.S. Bank Average
7.02% 7.80%

Great Midwest Bank, S.S.B. has a Return on Equity of 7.02% versus the BestCashCow average of 7.80%. 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.

Capitalization
Great Midwest Bank, S.S.B. U.S. Bank Average
15.68% 12.68%

Great Midwest Bank, S.S.B. has a Capitalization of 15.68% versus the BestCashCow average of 12.68. 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.

Great Midwest Bank, S.S.B. Balance Sheet Analysis

As of March 31, 2020, Great Midwest Bank, S.S.B. had assets of $849,039,000, loans of $733,827,000, and deposits of $524,282,000. 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, 2020
ASSETS
Cash & Balances due from depository institutions $ 30.89 million
Interest-bearing balances $ 18.71 million
Total securities $ 53.27 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 733.83 million
Loan loss allowance $ 3.14 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.69 million
Goodwill and other intangibles $ 2.53 million
All other assets $ 22.52 million
     Total Assets $ 715.94 million
LIABILITIES
Total deposits $ 524.28 million
      Interest-bearing deposits $ 505.81 million
      Deposits held in domestic offices $ 524.28 million
      % insured (estimated) 94.33%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 186.80 million
Subordinated debt N.A.
All other liabilities $ 4.86 million
      Total Liabilities $ 715.94 million
      Shareholders’ Equity $ 133.10 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 8.82 million
Total Interest Expense $ 3.10 million
Net interest income $ 5.72 million
Provision for loan and lease losses N.A.
Total non interest income $ 1.92 million
Total non interest expense $ 4.52 million
Pre-tax Net Operating Income $ 3.12 million

Bank Loan Profile?

The top three loan types in Great Midwest Bank, S.S.B.’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Construction and Development Loans.

Compared to other banks in Wisconsin, Great Midwest Bank, S.S.B. has a significantly higher percent of 1-4 Family Residential Loans, Multifamily Mortgages 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.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 76.86
Multifamily
Mortgages
13.23
Credit Card Loans 0.01
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 10.29
Commercial Real Estate 0.00
Commercial and Industrial Loans 0.04
Farm Loans 0.00

Frequently Asked Questions About Great Midwest Bank, S.s.b.

Branches and Savings

Is Great Midwest Bank, S.s.b. FDIC insured?

Yes. It is covered under FDIC Certificate #29657.

Why does Great Midwest Bank, S.s.b. pay such low interest on savings accounts?

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

Why are Great Midwest Bank, S.s.b. CD rates not competitive?

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

Is Great Midwest Bank, S.s.b. a commercial bank?

Yes

Where are Great Midwest Bank, S.s.b. locations?

See branch locations nearby.

Is Great Midwest Bank, S.s.b. open on Saturdays?

Is Great Midwest Bank, S.s.b. open on Sundays?

What time does Great Midwest Bank, S.s.b. open?

What time does Great Midwest Bank, S.s.b. close?

Are Great Midwest Bank, S.s.b. ATMs Open 24/7?

Do Great Midwest Bank, S.s.b. ATMs accept cash deposits?

Can Great Midwest Bank, S.s.b. customers use other ATMs?

Do Great Midwest Bank, S.s.b. branches have notaries?

Will Great Midwest Bank, S.s.b. notarize my document?

What address for Great Midwest Bank, S.s.b. should I put for incoming ACH transfers?

Will the Great Midwest Bank, S.s.b. branch print checks?

Do Great Midwest Bank, S.s.b. checks expire?

Does Great Midwest Bank, S.s.b. require US citizenship to open account?

Can Great Midwest Bank, S.s.b. close my account?

Does Great Midwest Bank, S.s.b. Report to credit bureaus?

Does Great Midwest Bank, S.s.b. Use Equifax?

What is Great Midwest Bank, S.s.b.'s ACH Routing Number?

What is Great Midwest Bank, S.s.b.'s SWIFT code?

Products

Does Great Midwest Bank, S.s.b. offer mortgages?

Compare mortgage rates here.

Does Great Midwest Bank, S.s.b. offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Great Midwest Bank, S.s.b. offer personal loans?

Compare personal loan rates here.

Does Great Midwest Bank, S.s.b. offer student loans?

Will Great Midwest Bank, S.s.b. cash a check?

Will Great Midwest Bank, S.s.b. redeem a savings bond?

Does Great Midwest Bank, S.s.b. cash savings bonds?

Will Great Midwest Bank, S.s.b. cash money orders?

Can Great Midwest Bank, S.s.b. issue a money order?

Does Great Midwest Bank, S.s.b. do currency exchange?

Background on The Bank

Who owns Great Midwest Bank, S.s.b.?

How long has Great Midwest Bank, S.s.b. been around?

Can Great Midwest Bank, S.s.b. transfer to other banks?

Does Great Midwest Bank, S.s.b. have quick pay?

Does Great Midwest Bank, S.s.b. accept rolled coins?

Will Great Midwest Bank, S.s.b. accept loose change?

Where is Great Midwest Bank, S.s.b. headquarters?

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