Minnwest Bank
Redwood Falls, Minnesota, Redwood County
$2.9B in total assets, the 448th largest of 4,309 US banks and 5th of 225 headquartered in Minnesota.
- FDIC certificate
- 16958
- Established
- 1941
- Owned by
- Minnwest Corp
- Primary regulator
- FDIC
- Website
- www.minnwestbank.com
At a glance
Compared with 16 banks headquartered in Minnesota with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $2.9B | 81% | $1.5B | |
| Loans | $2.4B | 81% | $929M | |
| Deposits | $2.6B | 88% | $1.2B | |
| Return on assets | 1.09% | 38% | 1.31% | |
| Net interest margin | 4.23% | 88% | 3.65% | |
| Efficiency ratio | 59.0% | 62% | 53.9% | |
| Equity to assets | 11.50% | 56% | 9.86% | |
| Loans to deposits | 92% | 75% | 83% |
Growth
Total assets grew 4.8% a year over the last 5 years and 6.0% a year over 10 years, including 4 acquisitions in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Nov 2021 | Roundbank Waseca, MN | $379M |
| Nov 2018 | First State Bank Wilmot, SD | $49M |
| Nov 2018 | Peoples State Bank Summit, SD | $74M |
| Sep 2018 | Security State Bank of Lewiston Lewiston, MN | $67M |
| Jul 2014 | State Bank of Gibbon Gibbon, MN | $26M |
| May 2014 | Minnwest Bank Central Montevideo, MN, an affiliate under the same holding company | $289M |
| May 2014 | Minnwest Bank South Tracy, MN, an affiliate under the same holding company | $204M |
| May 2014 | Minnwest Bank Metro Eagan, MN, an affiliate under the same holding company | $209M |
| May 2014 | Minnwest Bank Luverne Luverne, MN, an affiliate under the same holding company | $165M |
| May 2014 | Minnwest Bank Sioux Falls Sioux Falls, SD, an affiliate under the same holding company | $113M |
| Feb 1997 | Minnesota Valley Bank Redwood Falls, MN, an affiliate under the same holding company | $155M |
Where they operate
36 branches in 22 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Hennepin County, MN | $410M | 0.3% | 21 of 68 |
| Lyon County, MN | $374M | 31.0% | 1 of 7 |
| Redwood County, MN | $307M | 36.6% | 1 of 9 |
| Rock County, MN | $146M | 35.4% | 2 of 4 |
| Waseca County, MN | $144M | 28.8% | 1 of 6 |
| Dakota County, MN | $137M | 1.4% | 13 of 32 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 12 branches since 2016 (24 to 36, +50.0%). 4 opened, 12 acquired, 4 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 24 | |||
| 2018 | Acquired 3 banksOpened Montevideo | 9 | 0 | +9 | 33 |
| 2019 | Opened Minnetonka | 1 | 0 | +1 | 34 |
| 2020 | Opened RochesterClosed Beaver Creek | 1 | 1 | 0 | 34 |
| 2021 | Acquired Roundbank | 4 | 0 | +4 | 38 |
| 2023 | Opened RochesterClosed Rochester and Spring Valley | 1 | 2 | −1 | 37 |
| 2024 | Closed Montevideo | 0 | 1 | −1 | 36 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Commercial real estate | 23% | 32% | |
| Multifamily | 19% | 9% | |
| Agricultural | 16% | 2% | |
| Farmland | 13% | 3% | |
| Business (C&I) | 11% | 17% | |
| 1-4 family residential | 8% | 24% | |
| Construction and land | 7% | 7% | |
| Consumer | 0% | 2% | |
| Other | 3% | 5% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 56% | 52% | |
| Time deposits | 22% | 27% | |
| Noninterest-bearing | 22% | 21% |
Brokered deposits are 8.3% of deposits (peers 8.6%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.55% | 0.52% |
| Net charge-offs, annualized | 0.20% | 0.04% |
| Reserves to loans | 1.40% | 1.20% |
| Leverage ratio | 10.80% | 10.13% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Minnesota
Largest competitors in Hennepin County, MN
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/minnwest