Northwoods Bank of Minnesota

1200 East First Street
Park Rapids, MN 56470

Notable Rates APY Vs.Others
Savings 0.05% 2.20% →
1-Year CD 0.60% 2.25% →
2-Year CD N.A. 2.30% →
5-Year CD 1.35% 2.60% →
30-Year Mortgage N.A. 3.31% →
15-Year Mortgage N.A. 2.77% →
HELOC N.A. 4.00% →

2020 Overview

General Bank Information

Northwoods Bank of Minnesota is an FDIC insured institution located in Park Rapids, MN. It was founded in 1919 and has approximately $0.12 billion in assets. Customers can open an account at one of its 5 branches.

FDIC Insured Yes
FDIC Certificate # 1415
Date Established 1919
Assets $0.12 billion
Loans $0.07 billion
Deposits $0.10 billion
Capital $0.01 billion
 

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

Deposit Rates - January 25, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.05% $1,000 $9,999 Learn MoreShow Less
Money Market
0.10% $10,000 $24,999 Learn MoreShow Less
Money Market
0.15% $25,000 $49,999 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.35% $1,000 - Learn MoreShow Less
6 Mo CD
0.40% $1,000 - Learn MoreShow Less
12 Mo CD
0.60% $1,000 - Learn MoreShow Less
18 Mo CD
0.80% $1,000 - Learn MoreShow Less
30 Mo CD
0.95% $1,000 - Learn MoreShow Less
60 Mo CD
1.35% $1,000 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.60% $250 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $1 - Learn MoreShow Less

Loan Rates - January 25, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Northwoods Bank of Minnesota

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

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
4.793% 4.750% 0.00 $1,250 $1,305 Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
3.384% 3.375% 0.13 $285 $1,106 Learn More
First Internet Bank
NMLS ID: 424182
3.516% 3.500% 0.25 $505 $1,123 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Figure Home Equity Line
Figure Home Equity Line
0.000 %
$0 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
3.740 %
$0 Learn More
More Info

Note to Northwoods Bank of Minnesota
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Branches

Northwoods Bank of Minnesota 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


Northwoods Bank of Minnesota Locations


Financial Details

Northwoods Bank of Minnesota Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Northwoods Bank of Minnesota. 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
Northwoods Bank of Minnesota U.S. Bank Average
9.88% 6.70%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s 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 September 30, 2019, Northwoods Bank of Minnesota had $697,000 in non-current loans and $703,000 in owned real estate. To cover these potential losses it had $13,392,000 in equity and $780,000 in loans loss reserves. That gives it a Texas Ratio of 9.88%.

Return on Equity
Northwoods Bank of Minnesota U.S. Bank Average
10.28% 9.72%

Northwoods Bank of Minnesota has a Return on Equity of 10.28% versus the BestCashCow average of 9.72%. 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
Northwoods Bank of Minnesota U.S. Bank Average
11.05% 12.89%

Northwoods Bank of Minnesota has a Capitalization of 11.05% versus the BestCashCow average of 12.89. 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.

Northwoods Bank of Minnesota Balance Sheet Analysis

As of September 30, 2019, Northwoods Bank of Minnesota had assets of $121,184,000, loans of $66,174,000, and deposits of $101,952,000. 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

September 30, 2019
ASSETS
Cash & Balances due from depository institutions $0.01 billion
Interest-bearing balances $0.00 billion
Total securities $0.04 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.07 billion
Loan loss allowance $0.00 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.00 billion
All other assets $0.00 billion
     Total Assets $0.11 billion
LIABILITIES
Total deposits $0.10 billion
      Interest-bearing deposits $0.08 billion
      Deposits held in domestic offices $0.10 billion
      % insured (estimated) 82.53%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.01 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.11 billion
      Shareholders’ Equity $0.01 billion

Summary Income Statement

September 30, 2019
INCOME AND EXPENSES
Total Interest Income $0.00 billion
Total Interest Expense $0.00 billion
Net interest income $0.00 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.00 billion
Pre-tax Net Operating Income $0.00 billion

Bank Loan Profile?

The top three loan types in Northwoods Bank of Minnesota’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Small Business Loans.

Compared to other banks in Minnesota, Northwoods Bank of Minnesota has a significantly higher percent of Small Business 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 39.17
Multifamily
Mortgages
2.31
Credit Card Loans 0.00
Consumer Auto Loans 2.32
Small Business Loans 31.24
Construction and Development Loans 7.55
Commercial Real Estate 40.13
Commercial and Industrial Loans 8.34
Farm Loans 0.11

Frequently Asked Questions About Northwoods Bank Of Minnesota

Branches and Savings

Is Northwoods Bank Of Minnesota FDIC insured?

Yes. It is covered under FDIC Certificate #1415.

Why does Northwoods Bank Of Minnesota pay such low interest on savings accounts?

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

Why are Northwoods Bank Of Minnesota CD rates not competitive?

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

Is Northwoods Bank Of Minnesota a commercial bank?

Yes

Where are Northwoods Bank Of Minnesota locations?

See branch locations nearby.

Is Northwoods Bank Of Minnesota open on Saturdays?

Is Northwoods Bank Of Minnesota open on Sundays?

What time does Northwoods Bank Of Minnesota open?

What time does Northwoods Bank Of Minnesota close?

Are Northwoods Bank Of Minnesota ATMs Open 24/7?

Do Northwoods Bank Of Minnesota ATMs accept cash deposits?

Can Northwoods Bank Of Minnesota customers use other ATMs?

Do Northwoods Bank Of Minnesota branches have notaries?

Will Northwoods Bank Of Minnesota notarize my document?

What address for Northwoods Bank Of Minnesota should I put for incoming ACH transfers?

Will the Northwoods Bank Of Minnesota branch print checks?

Do Northwoods Bank Of Minnesota checks expire?

Does Northwoods Bank Of Minnesota require US citizenship to open account?

Can Northwoods Bank Of Minnesota close my account?

Does Northwoods Bank Of Minnesota Report to credit bureaus?

Does Northwoods Bank Of Minnesota Use Equifax?

What is Northwoods Bank Of Minnesota's ACH Routing Number?

What is Northwoods Bank Of Minnesota's SWIFT code?

Products

Does Northwoods Bank Of Minnesota offer mortgages?

Compare mortgage rates here.

Does Northwoods Bank Of Minnesota offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Northwoods Bank Of Minnesota offer personal loans?

Compare personal loan rates here.

Does Northwoods Bank Of Minnesota offer student loans?

Will Northwoods Bank Of Minnesota cash a check?

Will Northwoods Bank Of Minnesota redeem a savings bond?

Does Northwoods Bank Of Minnesota cash savings bonds?

Will Northwoods Bank Of Minnesota cash money orders?

Can Northwoods Bank Of Minnesota issue a money order?

Does Northwoods Bank Of Minnesota do currency exchange?

Background on The Bank

Who owns Northwoods Bank Of Minnesota?

How long has Northwoods Bank Of Minnesota been around?

Can Northwoods Bank Of Minnesota transfer to other banks?

Does Northwoods Bank Of Minnesota have quick pay?

Does Northwoods Bank Of Minnesota accept rolled coins?

Will Northwoods Bank Of Minnesota accept loose change?

Where is Northwoods Bank Of Minnesota headquarters?

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