Midwest Independent Bank

Headquarters

910 Weathered Rock Road
Jefferson City, MO 65101
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.05% →
1-Year CD N.A. 0.95% →
2-Year CD N.A. 1.05% →
5-Year CD N.A. 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

Midwest Independent Bank is an FDIC insured institution located in Jefferson City, MO. It was founded in 1985 and has approximately $0.25 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 25849
Date Established 1985
Assets $ 250.87 million
Loans $ 124.22 million
Deposits $ 203.70 million
Capital $ 38.69 million
 

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

Deposit Rates - September 22, 2020

Your Current Location: Connecticut, CT 06828


Loan Rates - September 22, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Midwest Independent 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
Rocket Mortgage
NMLS ID: 3030
3.872% 3.750% 1.00 $3,750 $1,158 Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.816% 2.750% 0.88 $2,132 $1,021 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
People's United Bank, N.A.
People's United Bank, N.A.
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4.000 %
$0 Learn More
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Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.990 %
$0 Learn More
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Note to Midwest Independent Bank
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Branches

Midwest Independent 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


Midwest Independent Bank Locations


Financial Details

Midwest Independent Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Midwest Independent 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
Midwest Independent Bank U.S. Bank Average
0% 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 Independent Bank had $0 in non-current loans and $0 in owned real estate. To cover these potential losses it had $38,685,000 in equity and $3,981,000 in loans loss reserves. That gives it a Texas Ratio of 0%.

Return on Equity
Midwest Independent Bank U.S. Bank Average
5.44% 7.80%

Midwest Independent Bank has a Return on Equity of 5.44% 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 Independent Bank U.S. Bank Average
15.42% 12.68%

Midwest Independent Bank has a Capitalization of 15.42% 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 Independent Bank Balance Sheet Analysis

As of March 31, 2020, Midwest Independent Bank had assets of $250,871,000, loans of $124,222,000, and deposits of $203,700,000. 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 $ 26.13 million
Interest-bearing balances $ 25.96 million
Total securities $ 23.77 million
Federal funds sold and reverse repurchase $ 62.88 million
Net loans and leases $ 124.22 million
Loan loss allowance $ 3.98 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 $ 11.54 million
     Total Assets $ 212.19 million
LIABILITIES
Total deposits $ 203.70 million
      Interest-bearing deposits $ 28.00 million
      Deposits held in domestic offices $ 203.70 million
      % insured (estimated) 43.57%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 8.49 million
      Total Liabilities $ 212.19 million
      Shareholders’ Equity $ 38.69 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 1.95 million
Total Interest Expense $ 0.27 million
Net interest income $ 1.69 million
Provision for loan and lease losses N.A.
Total non interest income $ 1.63 million
Total non interest expense $ 2.63 million
Pre-tax Net Operating Income $ 0.69 million

Bank Loan Profile?

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

Compared to other banks, Midwest Independent Bank’s loan portfolio does not show any specific loan specialty.

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 2.77
Multifamily
Mortgages
2.00
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 0.22
Commercial Real Estate 17.68
Commercial and Industrial Loans 4.60
Farm Loans 1.59

Frequently Asked Questions About Midwest Independent Bank

Branches and Savings

Is Midwest Independent Bank FDIC insured?

Yes. It is covered under FDIC Certificate #25849.

Why does Midwest Independent Bank pay such low interest on savings accounts?

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

Why are Midwest Independent Bank CD rates not competitive?

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

Is Midwest Independent Bank a commercial bank?

Yes

Where are Midwest Independent Bank locations?

See branch locations nearby.

Is Midwest Independent Bank open on Saturdays?

Is Midwest Independent Bank open on Sundays?

What time does Midwest Independent Bank open?

What time does Midwest Independent Bank close?

Are Midwest Independent Bank ATMs Open 24/7?

Do Midwest Independent Bank ATMs accept cash deposits?

Can Midwest Independent Bank customers use other ATMs?

Do Midwest Independent Bank branches have notaries?

Will Midwest Independent Bank notarize my document?

What address for Midwest Independent Bank should I put for incoming ACH transfers?

Will the Midwest Independent Bank branch print checks?

Do Midwest Independent Bank checks expire?

Does Midwest Independent Bank require US citizenship to open account?

Can Midwest Independent Bank close my account?

Does Midwest Independent Bank Report to credit bureaus?

Does Midwest Independent Bank Use Equifax?

What is Midwest Independent Bank's ACH Routing Number?

What is Midwest Independent Bank's SWIFT code?

Products

Does Midwest Independent Bank offer mortgages?

Compare mortgage rates here.

Does Midwest Independent Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Midwest Independent Bank offer personal loans?

Compare personal loan rates here.

Does Midwest Independent Bank offer student loans?

Will Midwest Independent Bank cash a check?

Will Midwest Independent Bank redeem a savings bond?

Does Midwest Independent Bank cash savings bonds?

Will Midwest Independent Bank cash money orders?

Can Midwest Independent Bank issue a money order?

Does Midwest Independent Bank do currency exchange?

Background on The Bank

Who owns Midwest Independent Bank?

How long has Midwest Independent Bank been around?

Can Midwest Independent Bank transfer to other banks?

Does Midwest Independent Bank have quick pay?

Does Midwest Independent Bank accept rolled coins?

Will Midwest Independent Bank accept loose change?

Where is Midwest Independent Bank headquarters?

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