Bank · FDIC insured
Bank Midwest
A $1.3B bank headquartered in Spirit Lake, IA, with 11 branches in 3 states. Best rates: CDs 3.75% and savings 1.51% APY.
Bank Midwest Carrot Score
81
Carrot Score
Higher than 54% of U.S. banks and credit unions
#1 of 5 in Fairmont, MN metroHow the score works →
Deposits are federally insured by the FDIC up to $250,000 per depositor.
About Bank Midwest
Established in 1882, Bank Midwest is headquartered in Harlan, Iowa.
The family-owned and employee-led institution operates as a division of NBH Bank.
It serves communities across Iowa, Minnesota, and South Dakota through 12 offices.
- Headquarters
- 1800 Royal Ave, Spirit Lake, IA 51360
- FDIC certificate
- 5170 ↗
Branches
11 branches in 3 states
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Minnesota
6 branches
Fairmont area · 2
- Fairmont Branch301 S State St, Fairmont, MN 56031Directions
- Sherburn Branch33 N Main St, Sherburn, MN 56171Directions
Jackson area · 1
- Jackson Branch509 3rd St, Jackson, MN 56143Directions
New Ulm area · 1
- New Ulm Branch525 Center St, New Ulm, MN 56073Directions
Westbrook area · 1
- Westbrook Branch640 1st Ave, Westbrook, MN 56183Directions
Windom area · 1
- Windom Branch245 9th St, Windom, MN 56101Directions
Iowa
4 branches
Spirit Lake area · 2
- Bank MidwestMain office1800 Royal Ave, Spirit Lake, IA 51360Directions
- Okoboji Branch1102 Sanborn Ave, Okoboji, IA 51355Directions
Armstrong area · 1
- Armstrong Branch500 6th St, Armstrong, IA 50514Directions
Wall Lake area · 1
- Wall Lake Branch102 W 2nd St, Wall Lake, IA 51466Directions
South Dakota
1 branch
- Sioux Falls Branch225 S Minnesota Ave, Sioux Falls, SD 57104Directions
Walk-in offices from the FDIC directory as of September 4, 2026. Directions open Google Maps. A nearby branch doesn’t mean you can join or open an account.
Financial details
| Measure | This bank | Peers’ middle | Strongest quarter |
|---|---|---|---|
| CapitalLeverage ratio | 10.16% | 10.49% | 11.89% or more |
| Troubled loansNoncurrent | 0.42% | 0.52% | 0.23% or less |
| ProfitabilityReturn on assets | 1.01% | 1.25% | 1.62% or more |
| LendingLoans per $100 deposited | $91 | $88 | — |
- CapitalLeverage ratio10.16%Peers’ middle 10.49% · Top 25% 11.89%+
- Troubled loansNoncurrent0.42%Peers’ middle 0.52% · Top 25% ≤0.23%
- ProfitabilityReturn on assets1.01%Peers’ middle 1.25% · Top 25% 1.62%+
- LendingLoans per $100 deposited$91Peers’ middle $88
Compared with the 897 banks with $1 billion to $10 billion in assets. The strongest quarter is what the best 25% of them reach: more capital and profit, fewer troubled loans. Lending has no better end.Troubled loans are noncurrent: 90 or more days late, or no longer earning interest.
Regulators’ own ratings of Bank Midwest are confidential. These figures are what it reports to the FDIC each quarter, set beside its peers; they aren’t a rating.