MidCountry Bank

Headquarters

7825 Washington Avenue South, Suite120
Minneapolis, MN 55439
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.01% 1.00% →
1-Year CD 0.50% 0.95% →
2-Year CD 0.60% 1.05% →
5-Year CD 0.95% 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

MidCountry Bank is an FDIC insured institution located in Minneapolis, MN. It was founded in 1933 and has approximately $0.77 billion in assets. Customers can open an account at one of its 16 branches.

FDIC Insured Yes
FDIC Certificate # 28865
Date Established 1933
Assets $ 770.06 million
Loans $ 613.74 million
Deposits $ 540.27 million
Capital $ 105.94 million
 

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

Deposit Rates - September 30, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.01% $2,500 $4,999 Learn More
Money Market
0.03% $2,500 $2,999 Learn More
Money Market
0.04% $10,000 $14,999 Learn More
Money Market
0.05% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.25% $10,000 $14,999 Learn More
6 Mo CD
0.30% $100,000 $199,999 Learn More
12 Mo CD
0.45% $10,000 $14,999 Learn More
12 Mo CD
0.50% $100,000 $199,999 Learn More
18 Mo CD
0.45% $10,000 $14,999 Learn More
18 Mo CD
0.50% $100,000 $199,999 Learn More
24 Mo CD
0.55% $10,000 $14,999 Learn More
24 Mo CD
0.60% $100,000 $199,999 Learn More
36 Mo CD
0.65% $10,000 $14,999 Learn More
36 Mo CD
0.70% $100,000 $199,999 Learn More
48 Mo CD
0.70% $10,000 $14,999 Learn More
48 Mo CD
0.75% $100,000 $199,999 Learn More
60 Mo CD
0.90% $10,000 $14,999 Learn More
60 Mo CD
0.95% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.01% $2,500 $3,499 Learn MoreShow Less

Loan Rates - September 30, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for MidCountry Bank

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 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.789% 2.750% 0.50 $1,250 $1,021 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.990 %
$0 Learn More
More Info

Note to MidCountry Bank
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Branches

MidCountry Bank 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


MidCountry Bank Locations


Financial Details

MidCountry Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of MidCountry Bank. 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
MidCountry Bank U.S. Bank Average
6.65% 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, MidCountry Bank had $6,398,000 in non-current loans and $884,000 in owned real estate. To cover these potential losses it had $105,940,000 in equity and $3,525,000 in loans loss reserves. That gives it a Texas Ratio of 6.65%.

Return on Equity
MidCountry Bank U.S. Bank Average
2.16% 7.80%

MidCountry Bank has a Return on Equity of 2.16% 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
MidCountry Bank U.S. Bank Average
13.76% 12.68%

MidCountry Bank has a Capitalization of 13.76% 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.

MidCountry Bank Balance Sheet Analysis

As of March 31, 2020, MidCountry Bank had assets of $770,061,000, loans of $613,739,000, and deposits of $540,274,000. 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 $ 73.30 million
Interest-bearing balances $ 68.05 million
Total securities $ 38.55 million
Federal funds sold and reverse repurchase $ 0.90 million
Net loans and leases $ 613.74 million
Loan loss allowance $ 3.53 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.88 million
Goodwill and other intangibles $ 8.69 million
All other assets $ 26.83 million
     Total Assets $ 664.12 million
LIABILITIES
Total deposits $ 540.27 million
      Interest-bearing deposits $ 424.36 million
      Deposits held in domestic offices $ 540.27 million
      % insured (estimated) 84.34%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 113.05 million
Subordinated debt N.A.
All other liabilities $ 10.80 million
      Total Liabilities $ 664.12 million
      Shareholders’ Equity $ 105.94 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 8.86 million
Total Interest Expense $ 2.17 million
Net interest income $ 6.69 million
Provision for loan and lease losses $ 0.41 million
Total non interest income $ 1.33 million
Total non interest expense $ 7.80 million
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in MidCountry Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Multifamily Mortgages.

Compared to other banks in Minnesota, MidCountry Bank has a significantly higher percent of Multifamily Mortgages, Commercial Real Estate 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 19.96
Multifamily
Mortgages
13.19
Credit Card Loans 0.00
Consumer Auto Loans 0.04
Small Business Loans 0.00
Construction and Development Loans 7.04
Commercial Real Estate 38.07
Commercial and Industrial Loans 12.42
Farm Loans 1.57

Frequently Asked Questions About Midcountry Bank

Branches and Savings

Is Midcountry Bank FDIC insured?

Yes. It is covered under FDIC Certificate #28865.

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

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

Why are Midcountry Bank CD rates not competitive?

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

Is Midcountry Bank a commercial bank?

Yes

Where are Midcountry Bank locations?

See branch locations nearby.

Is Midcountry Bank open on Saturdays?

Is Midcountry Bank open on Sundays?

What time does Midcountry Bank open?

What time does Midcountry Bank close?

Are Midcountry Bank ATMs Open 24/7?

Do Midcountry Bank ATMs accept cash deposits?

Can Midcountry Bank customers use other ATMs?

Do Midcountry Bank branches have notaries?

Will Midcountry Bank notarize my document?

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

Will the Midcountry Bank branch print checks?

Do Midcountry Bank checks expire?

Does Midcountry Bank require US citizenship to open account?

Can Midcountry Bank close my account?

Does Midcountry Bank Report to credit bureaus?

Does Midcountry Bank Use Equifax?

What is Midcountry Bank's ACH Routing Number?

What is Midcountry Bank's SWIFT code?

Products

Does Midcountry Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Midcountry Bank offer personal loans?

Compare personal loan rates here.

Does Midcountry Bank offer student loans?

Will Midcountry Bank cash a check?

Will Midcountry Bank redeem a savings bond?

Does Midcountry Bank cash savings bonds?

Will Midcountry Bank cash money orders?

Can Midcountry Bank issue a money order?

Does Midcountry Bank do currency exchange?

Background on The Bank

Who owns Midcountry Bank?

How long has Midcountry Bank been around?

Can Midcountry Bank transfer to other banks?

Does Midcountry Bank have quick pay?

Does Midcountry Bank accept rolled coins?

Will Midcountry Bank accept loose change?

Where is Midcountry Bank headquarters?

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