Minnwest Bank, M.V. in Redwood Falls, Minnesota (MN)



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Minnwest Bank, M.V. routing number info

Table of contents:
Minnwest Bank, M.V.
GeneralFDIC Certificate #: 16958
Status: Active
Federal Reserve ID: 302656
Bank Holding Company (Regulatory Top Holder): Minnwest Corporation (RSSDID: 1141348, Location: Minnetonka, MN)
Date Established: May 19, 1941
WWW: http://www.minnwestbank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 8 (Domestic: 8, Interstate: No)
OTS Docket #: 14673
FDIC's unique #: 11035
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Agricultural lending institution: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: November 28, 1950
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 300 South Washington Street, Redwood Falls, MN 56283
County: Redwood
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Mankato
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $517.9 mil
Equity capital: $49.2 mil
Deposits held in domestic offices: $447.9 mil
Return on assets (ROA): 0.85% ($4.4 mil)
Quarterly return on assets: 0.45% ($2.3 mil)
Return on Equity (ROE): 8.90% ($4.4 mil)
Quarterly return on equity: 4.73% ($2.3 mil)
Net income: $4.4 mil
Quarterly Net income: $0.6 mil
Pretax return on assets: 1.33% ($6,888.1 mil)
Quarterly Pretax return on assets: 0.69% ($3,573.5 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)86
Total assets$517,901
Cash and due from depository institutions$73,715
Interest-bearing balances$62,985
Securities$33,882
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$383,317
Loan loss allowance $5,719
Trading account assets$0
Bank premises and fixed assets$3,840
Other real estate owned$13,957
Goodwill and other intangibles$849
All other assets$8,341
Life insurance assets$517,901
Total liabilities and capital$468,673
Total liabilities$447,911
Total deposits$376,184
Interest-bearing deposits$447,911
Deposits held in domestic offices$93
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$18,612
Other borrowed funds $0
Subordinated debt $2,150
All other liabilities $49,228
Total equity capital$49,228
Total bank equity capital$49,228
Perpetual preferred stock$0
Common stock$500
Surplus$29,650
Undivided profits $19,078
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $3,749
Earning assets $62
Long-term assets (5+ years) $3,315
Average Assets, year-to-date $480,184
Average Assets, quarterly $14,368
Volatile liabilities $516,061
Insider loans $516,775
FHLB advances $397,883
Loans and leases held for sale $512,499
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $47,985
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $128,604
Derivatives$27
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $23,791
Total interest expense $5,999
Net interest income $17,792
Provision for loan and lease losses $720
Total noninterest income -$51
Fiduciary activities $0
Service charges on deposit accounts $870
Trading account gains & fees $0
Additional noninterest income -$921
Total noninterest expense $10,163
Salaries and employee benefits $5,261
Premises and equipment expense $818
Additional noninterest expense $4,084
Pre-tax net operating income $6,858
Securities gains (losses) $0
Applicable income taxes $2,481
Income before extraordinary items $4,377
Extraordinary gains - net $0
Net income attributable to bank $4,377
Net charge-offs $0
Cash dividends $4,377
Sale, conversion, retirement of capital stock, net $737
Net operating income $4,000
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.98%
Cost of funding earning assets 1.26%
Net interest margin 3.72%
Noninterest income to earning assets -0.01%
Noninterest expense to earning assets 2.13%
Net operating income to assets 0.85%
Return on assets (ROA) 0.85%
Pretax return on assets 1.33%
Return on equity (ROE) 8.90%
Retained earnings to average equity (YTD only) 0.77%
Net charge-offs to loans 0.19%
Credit loss provision to net charge-offs 97.69%
Efficiency ratio10.28%
Assets per employee$57,285
Cash dividends to net income (YTD only)6.02%
Condition Ratios (%)
Loss allowance to loans 91.39%
Loss allowance to noncurrent loans 1.47%
Noncurrent assets plus other real estate owned to assets 152.55%
Noncurrent loans to loans 3.42%
Net loans and leases to deposits0.96%
Net loans and leases to core deposits 85.58%
Equity capital to assets 91.06%
Core capital (leverage) ratio 9.51%
Tier 1 risk-based capital ratio 9.36%
Total risk-based capital ratio 12.06%
Memoranda
Average assets$13
Average earning assets$516,061
Average equity $49,154
Average loans $477,826
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8 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
011035Minnwest Bank, M.V.300 South Washington Street, Redwood Falls, MN 56283May 19, 1941Full Service Brick and Mortar
15993Belview BranchMain Street, Belview, MN 56214May 21, 1928Full Service Brick and Mortar
28525Gibbon Branch1069 First Avenue, Gibbon, MN 55335September 30, 1906Full Service Brick and Mortar
310833Danube BranchOak And Main Streets, Danube, MN 56230August 10, 1935Full Service Brick and Mortar
46003Eastside Branch1275 East Bridge Street, Redwood Falls, MN 56283January 01, 1914Full Service Brick and Mortar
5219938Minnwest Bank, M.V. - Morton Branch Office224 West 2nd Street, Morton, MN 56270August 08, 1983Limited Service Facility
6219931Marshall Branch301 Baseline Road, Marshall, MN 56258June 10, 1996Full Service Brick and Mortar
7419592St. Cloud Branch3130 2nd Street S., Saint Cloud, MN 56302September 09, 2002Full Service Brick and Mortar
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