Bank · FDIC insured
Northwoods Bank of Minnesota
A $140.6M bank headquartered in Park Rapids, MN, with 4 branches in Minnesota. Best rates: CDs 4.06% and savings 0.24% APY.
Rates
No Carrot Score yet: it needs scores for at least two of CDs, savings, auto loans and credit cards. CDs: not enough terms or balances published to score. Auto loans: only rates Carrot doesn’t compare are published (introductory, refinance or business rates, or none at all). Credit cards: no rates found on its website.
- CDs—4.06%CD rates →
- Savings711.15%at $100,000Savings rates →
Deposits are federally insured by the FDIC up to $250,000 per depositor.
About Northwoods Bank of Minnesota
Northwoods Bank of Minnesota is a family-owned and operated bank based in Park Rapids, Minnesota, operating since 1919.
Serving Park Rapids, Nevis, Pine City, and surrounding areas, it offers personal and business banking alongside resort banking services.
- Headquarters
- 1200 First St E, Park Rapids, MN 56470
- FDIC certificate
- 1415 ↗
Branches
4 branches in Minnesota
Loading map…
Minnesota
4 branches
Park Rapids area · 2
- Northwoods Bank of MinnesotaMain office1200 First St E, Park Rapids, MN 56470Directions
- Detached Facility Branch311 Park Ave S, Park Rapids, MN 56470Directions
Nevis area · 1
- Bunyan Trails Branch112 Bunyan Trails Dr, Nevis, MN 56467Directions
Pine City area · 1
- Pine City Branch1015 Hillside Ave Sw, Pine City, MN 55063Directions
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 | 11.22% | 10.98% | 13.00% or more |
| Troubled loansNoncurrent | 0.03% | 0.42% | 0.09% or less |
| ProfitabilityReturn on assets | 1.05% | 1.24% | 1.68% or more |
| LendingLoans per $100 deposited | $62 | $81 | — |
- CapitalLeverage ratio11.22%Peers’ middle 10.98% · Top 25% 13.00%+
- Troubled loansNoncurrent0.03%Peers’ middle 0.42% · Top 25% ≤0.09%
- ProfitabilityReturn on assets1.05%Peers’ middle 1.24% · Top 25% 1.68%+
- LendingLoans per $100 deposited$62Peers’ middle $81
Compared with the 2,650 banks with $100 million to $1 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 Northwoods Bank of Minnesota are confidential. These figures are what it reports to the FDIC each quarter, set beside its peers; they aren’t a rating.