Minnwest Bank, M.V. in Redwood Falls, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches

Minnwest Bank, M.V. - Overview

  • General
  • FDIC 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
  • Location
  • Address: 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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total 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
  • 86Total employees (full-time equivalent)
  • $517,901Total assets
  • $73,715Cash and due from depository institutions
  • $62,985Interest-bearing balances
  • $33,882Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $383,317Net loans & leases
  • $5,719Loan loss allowance
  • $0Trading account assets
  • $3,840Bank premises and fixed assets
  • $13,957Other real estate owned
  • $849Goodwill and other intangibles
  • $517,901Life insurance assets
  • $8,341All other assets
  • $468,673Total liabilities and capital
  • $447,911Total liabilities
  • $376,184Total deposits
  • $447,911Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $18,612Trading liabilities
  • $0Other borrowed funds
  • $2,150Subordinated debt
  • $49,228All other liabilities
  • $49,228Total equity capital
  • $49,228Total bank equity capital
  • $0Perpetual preferred stock
  • $500Common stock
  • $29,650Surplus
  • $19,078Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,749Income earned, not collected on loans
  • $62Earning assets
  • $3,315Long-term assets (5+ years)
  • $480,184Average Assets, year-to-date
  • $14,368Average Assets, quarterly
  • $516,061Volatile liabilities
  • $516,775Insider loans
  • $397,883FHLB advances
  • $512,499Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $47,985Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $128,604Restructured Loans and leases
  • $27Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $23,791Total interest income
  • $5,999Total interest expense
  • $17,792Net interest income
  • $720Provision for loan and lease losses
  • -$51Total noninterest income
  • $0Fiduciary activities
  • $870Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$921Additional noninterest income
  • $10,163Total noninterest expense
  • $5,261Salaries and employee benefits
  • $818Premises and equipment expense
  • $4,084Additional noninterest expense
  • $6,858Pre-tax net operating income
  • $0Securities gains (losses)
  • $2,481Applicable income taxes
  • $4,377Income before extraordinary items
  • $0Extraordinary gains - net
  • $4,377Net income attributable to bank
  • $0Net charge-offs
  • $4,377Cash dividends
  • $737Sale, conversion, retirement of capital stock, net
  • $4,000Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.98%Yield on earning assets
  • 1.26%Cost of funding earning assets
  • 3.72%Net interest margin
  • -0.01%Noninterest income to earning assets
  • 2.13%Noninterest expense to earning assets
  • 0.85%Net operating income to assets
  • 0.85%Return on assets (ROA)
  • 1.33%Pretax return on assets
  • 8.90%Return on equity (ROE)
  • 0.77%Retained earnings to average equity (YTD only)
  • 0.19%Net charge-offs to loans
  • 97.69%Credit loss provision to net charge-offs
  • 10.28%Efficiency ratio
  • 57,285Assets per employee
  • 6.02%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 91.39%Loss allowance to loans
  • 1.47%Loss allowance to noncurrent loans
  • 152.55%Noncurrent assets plus other real estate owned to assets
  • 3.42%Noncurrent loans to loans
  • 0.96%Net loans and leases to deposits
  • 85.58%Net loans and leases to core deposits
  • 91.06%Equity capital to assets
  • 9.51%Core capital (leverage) ratio
  • 9.36%Tier 1 risk-based capital ratio
  • 12.06%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $516,061Average earning assets
  • $49,154Average equity
  • $477,826Average loans

List of branches

  • 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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