Minnwest Bank Sioux Falls

Headquarters

5001 South Louise Avenue
Sioux Falls, SD 57108
See all branch locations →

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 Sioux Falls is an FDIC insured institution located in Sioux Falls, SD. It was founded in 2000 and has approximately $0.11 billion in assets.

FDIC Insured Yes
FDIC Certificate # 35545
Date Established 2000
Assets $ 112.93 million
Loans $ 89.40 million
Deposits $ 98.34 million
Capital $ 10.33 million
 

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

Deposit Rates - October 28, 2020

Your Current Location: Virginia, VA 20146


Loan Rates - October 28, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Minnwest Bank Sioux Falls

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2020

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Featured - Virginia Home Equity Line Of Credit Rates 2020

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After Intro: 3.500 %
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Note to Minnwest Bank Sioux Falls
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Branches

Minnwest Bank Sioux Falls 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:
Ashburn,Virginia


Minnwest Bank Sioux Falls Locations


Financial Details

Minnwest Bank Sioux Falls Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Minnwest Bank Sioux Falls. 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 Sioux Falls U.S. Bank Average
6.16% 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 Sioux Falls had $555,000 in non-current loans and $167,000 in owned real estate. To cover these potential losses it had $10,330,000 in equity and $1,399,000 in loans loss reserves. That gives it a Texas Ratio of 6.16%.

Return on Equity
Minnwest Bank Sioux Falls U.S. Bank Average
10.42% 7.80%

Minnwest Bank Sioux Falls has a Return on Equity of 10.42% 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
Minnwest Bank Sioux Falls U.S. Bank Average
9.15% 12.68%

Minnwest Bank Sioux Falls has a Capitalization of 9.15% 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 Sioux Falls Balance Sheet Analysis

As of March 31, 2014, Minnwest Bank Sioux Falls had assets of $112,925,000, loans of $89,404,000, and deposits of $98,339,000. 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 N.A.
Interest-bearing balances N.A.
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 89.40 million
Loan loss allowance $ 1.40 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.17 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
LIABILITIES
Total deposits $ 98.34 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 $ 112.93 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
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 Sioux Falls’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Small Business Loans.

Compared to other banks in South Dakota, Minnwest Bank Sioux Falls has a significantly higher percent of Multifamily Mortgages, Small Business Loans, Construction and Development Loans, 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 22.60
Multifamily
Mortgages
7.98
Credit Card Loans 0.00
Consumer Auto Loans 0.86
Small Business Loans 15.83
Construction and Development Loans 8.57
Commercial Real Estate 28.22
Commercial and Industrial Loans 13.25
Farm Loans 11.72

Frequently Asked Questions About Minnwest Bank Sioux Falls

Branches and Savings

Is Minnwest Bank Sioux Falls FDIC insured?

Yes. It is covered under FDIC Certificate #35545.

Why does Minnwest Bank Sioux Falls 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 Sioux Falls CD rates not competitive?

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

Is Minnwest Bank Sioux Falls a commercial bank?

Yes

Where are Minnwest Bank Sioux Falls locations?

See branch locations nearby.

Is Minnwest Bank Sioux Falls open on Saturdays?

Is Minnwest Bank Sioux Falls open on Sundays?

What time does Minnwest Bank Sioux Falls open?

What time does Minnwest Bank Sioux Falls close?

Are Minnwest Bank Sioux Falls ATMs Open 24/7?

Do Minnwest Bank Sioux Falls ATMs accept cash deposits?

Can Minnwest Bank Sioux Falls customers use other ATMs?

Do Minnwest Bank Sioux Falls branches have notaries?

Will Minnwest Bank Sioux Falls notarize my document?

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

Will the Minnwest Bank Sioux Falls branch print checks?

Do Minnwest Bank Sioux Falls checks expire?

Does Minnwest Bank Sioux Falls require US citizenship to open account?

Can Minnwest Bank Sioux Falls close my account?

Does Minnwest Bank Sioux Falls Report to credit bureaus?

Does Minnwest Bank Sioux Falls Use Equifax?

What is Minnwest Bank Sioux Falls's ACH Routing Number?

What is Minnwest Bank Sioux Falls's SWIFT code?

Products

Does Minnwest Bank Sioux Falls offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Minnwest Bank Sioux Falls offer personal loans?

Compare personal loan rates here.

Does Minnwest Bank Sioux Falls offer student loans?

Will Minnwest Bank Sioux Falls cash a check?

Will Minnwest Bank Sioux Falls redeem a savings bond?

Does Minnwest Bank Sioux Falls cash savings bonds?

Will Minnwest Bank Sioux Falls cash money orders?

Can Minnwest Bank Sioux Falls issue a money order?

Does Minnwest Bank Sioux Falls do currency exchange?

Background on The Bank

Who owns Minnwest Bank Sioux Falls?

How long has Minnwest Bank Sioux Falls been around?

Can Minnwest Bank Sioux Falls transfer to other banks?

Does Minnwest Bank Sioux Falls have quick pay?

Does Minnwest Bank Sioux Falls accept rolled coins?

Will Minnwest Bank Sioux Falls accept loose change?

Where is Minnwest Bank Sioux Falls headquarters?

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