Bank Midwest
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Data as of · sourced from FFIEC call reports. How we update
Bank Midwest is an FDIC-insured commercial bank headquartered in Spirit Lake, IA, established in 1887 (FDIC certificate 5170), and it is supervised by the Federal Reserve. At Q2 2026 it reported total assets of $1.35B, down 1.0% from Q2 2025, the 21st largest of 225 banks headquartered in Iowa. Its CET1 capital ratio was 11.95% at Q2 2026, above regulatory requirements.
- Charter
- Commercial bank
- Regulator
- Federal Reserve
- Deposit insurance
- FDIC
- FDIC certificate
- 5170
- Headquarters
- Spirit Lake, IA
- Established
- 1887
- Total assets, Q2 2026
- $1.35B
- Assets vs Q2 2025
- -1.0%
- CET1 ratio, Q2 2026
- 11.95%
- Domestic offices
- 11 FDIC institution directory, current count
- Routing number
- 073920829
- Holding company
- GOODENOW BANCORPORATION
- Asset rank in state
- 21st of 225 in Iowa
Bank Midwest, based in Spirit Lake, Iowa, reported $1.3 billion in assets at June 30, 2026. It holds 9% of its deposits (9%) above the FDIC insurance limit, a small fraction of the median of 30.9% for the 895 banks with $1 billion to $10 billion in assets. It also shrank its loan book 1.1% over the year, lower than about three-quarters of banks its size (median 5.9%).
Earnings jumped: net income for the quarter was $3.4 million, 48% above the same quarter a year earlier. Its $282 million commercial and industrial book is improving, with 0.61% past due or on nonaccrual, down from 1.45% a year earlier. Where it has less room is capital: it holds common equity equal to 11.95% of its risk-weighted assets, lower than about three-quarters of banks its size (median 13.52%).
As of June 30, 2026, Bank Midwest reported a CET1 capital ratio of 11.95%, a return on assets of 1.00%, a nonperforming-loan ratio of 0.42% and a Texas ratio of 3.17%. The figures come from its call report filed with the FFIEC.
Bank Midwest ranks as the 21st largest of the 225 banks based in Iowa, by total assets at Q2 2026. From Q1 2026 to Q2 2026, its total assets rose 2.1% to $1.35B, loans rose 0.5% and deposits rose 2.5%. The largest part of its loan book on June 30, 2026 was commercial and industrial loans, at 26.9% of total loans, ahead of non-owner-occupied commercial real estate loans at 11.0%. The FDIC Summary of Deposits lists 11 offices for it, in 11 cities across 3 states; its Spirit Lake office books 27% of its branch deposits. By the capital ratios in its Q2 2026 call report, Bank Midwest meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 1800 Royal Ave, Spirit Lake, IA 51360
- County
- Dickinson
- Metro Area
- Spirit Lake, IA
- Charter
- Commercial bank, state charter, Fed member, FRB-supervised
- Primary Regulator
- Federal Reserve
- FDIC Region
- Kansas City (Region 11)
- Federal Reserve member
- Yes
- Federal Reserve district
- District 7, Chicago
- Fiduciary (trust) powers
- Full trust powers granted
- Call Report form
- FFIEC 051
- Established
- January 1, 1887
- Former names
- Bank Midwest, Minnesota Iowa, National Association (1990-2008)
- Domestic offices
- 11 FDIC institution directory, current count
- Employees (FTE)
- 175
- Domestic deposits
- $1.15B
- Allowance for credit losses
- $13.6M
- Net charge-offs (YTD)
- $1.3M
- Average total assets
- $1.37B
- Average total loans
- $1.05B
- Average interest-bearing deposits
- $978.7M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 5170
- Fed RSSD
- 45551
- Website
- bankmidwest.com →
- Parent Holding Company
- GOODENOW BANCORPORATION (RSSD 1203714)
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
From Q3 2023 to Q2 2026, Bank Midwest's total assets ranged from $1.29B (Q3 2023) to $1.38B (Q4 2024), and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$1.35B total assets against $1.36B; $1.21B total liabilities against $1.24B.
$1.04B net loans and leases against $1.05B; $1.15B total deposits against $1.16B.
$179.2M securities against $183.8M; $44.0M cash and balances due against $24.6M.
$19.0M total interest income against $19.3M; $6.5M total interest expense against $7.9M.
$12.5M net interest income against $11.4M.
$3.3M total noninterest income against $2.9M; $9.4M total noninterest expense against $10.5M.
$1.7M provision for credit losses against $765K.
$3.4M net income against $2.3M.
1.00% return on assets against 0.67%; 3.94% net interest margin against 3.57%.
11.95% CET1 capital ratio against 10.96%; 10.16% tier 1 leverage ratio against 9.45%.
Inside the full Bank Midwest terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Commercial real estate loans are between 200% and 300% of total capital, approaching the 2006 interagency guidance threshold of 300% that triggers heightened supervisory attention. BankRegReports early-warning band below the 300% guidance.
Bank Midwest rankings
Its closest position to the top of a national ranking is 814 of 4,196, for total assets; its furthest is 946 of 980, for uninsured deposits.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.38% (Q3 2024) to 1.00% (Q2 2026) and its net interest margin ran from 3.27% (Q3 2024) to 3.94% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 11.95% | 1.00% | 0.42% | 3.17% | 3.94% |
| Q1 2026 | 11.85% | 1.00% | 0.43% | 3.30% | 3.85% |
| Q4 2025 | 11.63% | 0.93% | 0.59% | 4.56% | 3.79% |
| Q3 2025 | 11.42% | 0.96% | 0.47% | 3.86% | 3.64% |
| Q2 2025 | 10.96% | 0.67% | 0.59% | 5.02% | 3.57% |
| Q1 2025 | 11.00% | 0.79% | 0.42% | 4.84% | 3.42% |
| Q4 2024 | 10.68% | 0.41% | 0.71% | 7.62% | 3.32% |
| Q3 2024 | 10.79% | 0.38% | 0.77% | 7.98% | 3.27% |
Swipe the table sideways to see every column.
Branch Network
View all 11 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Bank Midwest (main office) | Spirit Lake , IA | 51360 | $312.9M |
| Windom Branch | Windom , MN | 56101 | $179.4M |
| Fairmont Branch | Fairmont , MN | 56031 | $175.3M |
| Jackson Branch | Jackson , MN | 56143 | $132.7M |
| New Ulm Branch | New Ulm , MN | 56073 | $102.2M |
| Sioux Falls Branch | Sioux Falls , SD | 57104 | $60.4M |
| Wall Lake Branch | Wall Lake , IA | 51466 | $57.5M |
| Armstrong Branch | Armstrong , IA | 50514 | $57.2M |
| Westbrook Branch | Westbrook , MN | 56183 | $43.9M |
| Sherburn Branch | Sherburn , MN | 56171 | $28.2M |
| Okoboji Branch | Okoboji , IA | 51355 | $0 |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| June 3, 2011 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| June 3, 2011 | Structure Change | Acquired Farmers State Bank of Sherburn Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| October 9, 2000 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| October 9, 2000 | Structure Change | Acquired Bank Midwest of Cottonwood County Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| June 1, 1997 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| June 1, 1997 | Structure Change | Acquired Bank Midwest, Minnesota Iowa, National Association Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| January 1, 1991 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| January 1, 1991 | Structure Change | Charter Discontinued (Merger or Purchase & Assumption) | FFIEC NIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 8 events.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 0.3% of deposits in IA, rank 67 of 261 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 179 applications, 143 loans originated, $80.6M originated, across 6 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 2 loans, $1.1M approved, $553K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2024 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about Bank Midwest
What are Bank Midwest's total assets?
As of the Q2 2026 filing, Bank Midwest reported total assets of $1.35 billion in its FFIEC call report.
Where is Bank Midwest headquartered?
It is headquartered in Spirit Lake, IA, United States.
When was Bank Midwest founded?
It was established in 1887, per the FDIC institution directory.
Is Bank Midwest FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #5170). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Bank Midwest?
Bank Midwest's primary federal regulator is the Federal Reserve.
What is Bank Midwest's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 11.95% in its Q2 2026 call report, above regulatory requirements.
How many branches does Bank Midwest operate?
It operates 11 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Bank Midwest's Texas Ratio?
Its Texas Ratio is 3.17% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
What was Bank Midwest previously called?
The charter now named Bank Midwest has also operated as Bank Midwest, Minnesota Iowa, National Association (1990-2008), per FDIC structure-change records.
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