Midwest Heritage Bank, FSB

Headquarters

3580 Ep True Parkway, Suite 100
West Des Moines, IA 50265
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 0.91% →
1-Year CD 0.80% 0.85% →
2-Year CD 1.00% 0.95% →
5-Year CD 1.45% 1.30% →
30-Year Mortgage N.A. 2.61% →
15-Year Mortgage N.A. 2.31% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Midwest Heritage Bank, FSB is an FDIC insured institution located in West Des Moines, IA. It was founded in 1930 and has approximately $0.29 billion in assets. Customers can open an account at one of its 7 branches.

FDIC Insured Yes
FDIC Certificate # 4432
Date Established 1930
Assets $ 291.04 million
Loans $ 210.10 million
Deposits $ 247.49 million
Capital $ 37.65 million
 

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

Deposit Rates - November 27, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $2,500 $4,999 Learn More
Money Market
0.05% $2,500 $2,999 Learn More
Money Market
0.15% $10,000 $14,999 Learn More
Money Market
0.25% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.65% $10,000 $14,999 Learn More
6 Mo CD
0.65% $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
18 Mo CD
0.90% $10,000 $14,999 Learn More
18 Mo CD
0.90% $100,000 $199,999 Learn More
24 Mo CD
1.00% $10,000 $14,999 Learn More
24 Mo CD
1.00% $100,000 $199,999 Learn More
36 Mo CD
1.10% $10,000 $14,999 Learn More
36 Mo CD
1.10% $100,000 $199,999 Learn More
48 Mo CD
1.35% $10,000 $14,999 Learn More
48 Mo CD
1.35% $100,000 $199,999 Learn More
60 Mo CD
1.45% $10,000 $14,999 Learn More
60 Mo CD
1.45% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less
 

Loan Rates - November 27, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Midwest Heritage Bank, FSB

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
First Internet Bank
NMLS ID: 424182
2.566% 2.500% 0.88 $2,170 $988 Learn More
AmeriSave Mortgage Corporation
NMLS ID: 1168
2.589% 2.500% 1.00 $2,915 $988 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
2.240 %
$0 Learn More
More Info
People's United Bank, N.A.
People's United Bank, N.A.
See Table
4.000 %
$0 Learn More
More Info

Note to Midwest Heritage Bank, FSB
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Midwest Heritage Bank, FSB 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


Midwest Heritage Bank, FSB Locations


Financial Details

Midwest Heritage Bank, FSB Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Midwest Heritage Bank, FSB. 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
Midwest Heritage Bank, FSB U.S. Bank Average
3.36% 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, Midwest Heritage Bank, FSB had $1,274,000 in non-current loans and $66,000 in owned real estate. To cover these potential losses it had $37,653,000 in equity and $2,222,000 in loans loss reserves. That gives it a Texas Ratio of 3.36%.

Return on Equity
Midwest Heritage Bank, FSB U.S. Bank Average
4.05% 7.80%

Midwest Heritage Bank, FSB has a Return on Equity of 4.05% 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
Midwest Heritage Bank, FSB U.S. Bank Average
12.94% 12.68%

Midwest Heritage Bank, FSB has a Capitalization of 12.94% 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.

Midwest Heritage Bank, FSB Balance Sheet Analysis

As of March 31, 2020, Midwest Heritage Bank, FSB had assets of $291,041,000, loans of $210,100,000, and deposits of $247,489,000. 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 $ 30.68 million
Interest-bearing balances $ 25.97 million
Total securities $ 28.96 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 210.10 million
Loan loss allowance $ 2.22 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.07 million
Goodwill and other intangibles $ 2.50 million
All other assets $ 14.30 million
     Total Assets $ 253.39 million
LIABILITIES
Total deposits $ 247.49 million
      Interest-bearing deposits $ 189.23 million
      Deposits held in domestic offices $ 247.49 million
      % insured (estimated) 71.86%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 0.50 million
Subordinated debt N.A.
All other liabilities $ 5.40 million
      Total Liabilities $ 253.39 million
      Shareholders’ Equity $ 37.65 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 3.04 million
Total Interest Expense $ 0.30 million
Net interest income $ 2.73 million
Provision for loan and lease losses $ 0.04 million
Total non interest income $ 1.91 million
Total non interest expense $ 4.15 million
Pre-tax Net Operating Income $ 0.45 million

Bank Loan Profile?

The top three loan types in Midwest Heritage Bank, FSB’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Commercial and Industrial Loans.

Compared to other banks in Iowa, Midwest Heritage Bank, FSB has a significantly higher percent of Consumer Auto Loans, 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.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 33.47
Multifamily
Mortgages
2.83
Credit Card Loans 0.00
Consumer Auto Loans 5.14
Small Business Loans 5.07
Construction and Development Loans 1.32
Commercial Real Estate 14.82
Commercial and Industrial Loans 8.18
Farm Loans 5.20

Frequently Asked Questions About Midwest Heritage Bank, Fsb

Branches and Savings

Is Midwest Heritage Bank, Fsb FDIC insured?

Yes. It is covered under FDIC Certificate #4432.

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

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

Why are Midwest Heritage Bank, Fsb CD rates not competitive?

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

Is Midwest Heritage Bank, Fsb a commercial bank?

Yes

Where are Midwest Heritage Bank, Fsb locations?

See branch locations nearby.

Is Midwest Heritage Bank, Fsb open on Saturdays?

Is Midwest Heritage Bank, Fsb open on Sundays?

What time does Midwest Heritage Bank, Fsb open?

What time does Midwest Heritage Bank, Fsb close?

Are Midwest Heritage Bank, Fsb ATMs Open 24/7?

Do Midwest Heritage Bank, Fsb ATMs accept cash deposits?

Can Midwest Heritage Bank, Fsb customers use other ATMs?

Do Midwest Heritage Bank, Fsb branches have notaries?

Will Midwest Heritage Bank, Fsb notarize my document?

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

Will the Midwest Heritage Bank, Fsb branch print checks?

Do Midwest Heritage Bank, Fsb checks expire?

Does Midwest Heritage Bank, Fsb require US citizenship to open account?

Can Midwest Heritage Bank, Fsb close my account?

Does Midwest Heritage Bank, Fsb Report to credit bureaus?

Does Midwest Heritage Bank, Fsb Use Equifax?

What is Midwest Heritage Bank, Fsb's ACH Routing Number?

What is Midwest Heritage Bank, Fsb's SWIFT code?

Products

Does Midwest Heritage Bank, Fsb offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Midwest Heritage Bank, Fsb offer personal loans?

Compare personal loan rates here.

Does Midwest Heritage Bank, Fsb offer student loans?

Will Midwest Heritage Bank, Fsb cash a check?

Will Midwest Heritage Bank, Fsb redeem a savings bond?

Does Midwest Heritage Bank, Fsb cash savings bonds?

Will Midwest Heritage Bank, Fsb cash money orders?

Can Midwest Heritage Bank, Fsb issue a money order?

Does Midwest Heritage Bank, Fsb do currency exchange?

Background on The Bank

Who owns Midwest Heritage Bank, Fsb?

How long has Midwest Heritage Bank, Fsb been around?

Can Midwest Heritage Bank, Fsb transfer to other banks?

Does Midwest Heritage Bank, Fsb have quick pay?

Does Midwest Heritage Bank, Fsb accept rolled coins?

Will Midwest Heritage Bank, Fsb accept loose change?

Where is Midwest Heritage Bank, Fsb headquarters?

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