Minnwest Bank Central


107 North First Street
Montevideo, MN 56265
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Notable Rates APY Vs.Others
Savings N.A. 0.95% →
1-Year CD N.A. 1.01% →
2-Year CD N.A. 0.95% →
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

Minnwest Bank Central is an FDIC insured institution located in Montevideo, MN. It was founded in 1930 and has approximately $0.29 billion in assets.

FDIC Insured Yes
FDIC Certificate # 1398
Date Established 1930
Assets $ 289.32 million
Loans $ 236.56 million
Deposits $ 240.94 million
Capital $ 30.85 million

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

Deposit Rates - October 27, 2020

Your Current Location: Connecticut, CT 06828

Loan Rates - October 27, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Minnwest Bank Central

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
Learn More
NMLS ID: 2890
License#: 13256
2.674% 2.625% 0.63 $1,595 $1,005 Learn More
First Internet Bank
NMLS ID: 424182
2.573% 2.500% 1.00 $2,400 $988 Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 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.
See Table
4.000 %
$0 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info

Note to Minnwest Bank Central
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Financial Details

Minnwest Bank Central Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Minnwest Bank Central. 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
Minnwest Bank Central U.S. Bank Average
19.99% 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, Minnwest Bank Central had $456,000 in non-current loans and $6,311,000 in owned real estate. To cover these potential losses it had $30,846,000 in equity and $3,011,000 in loans loss reserves. That gives it a Texas Ratio of 19.99%.

Return on Equity
Minnwest Bank Central U.S. Bank Average
9.91% 7.80%

Minnwest Bank Central has a Return on Equity of 9.91% 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.

Minnwest Bank Central U.S. Bank Average
10.66% 12.68%

Minnwest Bank Central has a Capitalization of 10.66% 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.

Minnwest Bank Central Balance Sheet Analysis

As of March 31, 2014, Minnwest Bank Central had assets of $289,323,000, loans of $236,559,000, and deposits of $240,940,000. 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
Cash & Balances due from depository institutions N.A.
Interest-bearing balances N.A.
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 236.56 million
Loan loss allowance $ 3.01 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 6.31 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
Total deposits $ 240.94 million
      Interest-bearing deposits N.A.
      Deposits held in domestic offices N.A.
      % insured (estimated) 0.00%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities N.A.
      Total Liabilities N.A.
      Shareholders’ Equity $ 289.32 million

Summary Income Statement

March 31, 2020
Total Interest Income N.A.
Total Interest Expense N.A.
Net interest income N.A.
Provision for loan and lease losses N.A.
Total non interest income N.A.
Total non interest expense N.A.
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Minnwest Bank Central’s loan portfolio are Farm Loans, Commercial Real Estate, and Commercial and Industrial Loans.

Compared to other banks in Minnesota, Minnwest Bank Central has a significantly higher percent of Farm 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 4.85
Credit Card Loans 0.00
Consumer Auto Loans 0.95
Small Business Loans 3.70
Construction and Development Loans 3.48
Commercial Real Estate 15.24
Commercial and Industrial Loans 4.94
Farm Loans 41.04

Frequently Asked Questions About Minnwest Bank Central

Branches and Savings

Is Minnwest Bank Central FDIC insured?

Yes. It is covered under FDIC Certificate #1398.

Why does Minnwest Bank Central pay such low interest on savings accounts?

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

Why are Minnwest Bank Central CD rates not competitive?

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

Is Minnwest Bank Central a commercial bank?


Where are Minnwest Bank Central locations?

See branch locations nearby.

Is Minnwest Bank Central open on Saturdays?

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Are Minnwest Bank Central ATMs Open 24/7?

Do Minnwest Bank Central ATMs accept cash deposits?

Can Minnwest Bank Central customers use other ATMs?

Do Minnwest Bank Central branches have notaries?

Will Minnwest Bank Central notarize my document?

What address for Minnwest Bank Central should I put for incoming ACH transfers?

Will the Minnwest Bank Central branch print checks?

Do Minnwest Bank Central checks expire?

Does Minnwest Bank Central require US citizenship to open account?

Can Minnwest Bank Central close my account?

Does Minnwest Bank Central Report to credit bureaus?

Does Minnwest Bank Central Use Equifax?

What is Minnwest Bank Central's ACH Routing Number?

What is Minnwest Bank Central's SWIFT code?


Does Minnwest Bank Central offer mortgages?

Compare mortgage rates here.

Does Minnwest Bank Central offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Minnwest Bank Central offer personal loans?

Compare personal loan rates here.

Does Minnwest Bank Central offer student loans?

Will Minnwest Bank Central cash a check?

Will Minnwest Bank Central redeem a savings bond?

Does Minnwest Bank Central cash savings bonds?

Will Minnwest Bank Central cash money orders?

Can Minnwest Bank Central issue a money order?

Does Minnwest Bank Central do currency exchange?

Background on The Bank

Who owns Minnwest Bank Central?

How long has Minnwest Bank Central been around?

Can Minnwest Bank Central transfer to other banks?

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Will Minnwest Bank Central accept loose change?

Where is Minnwest Bank Central headquarters?

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