TellerScore

Headquartered in Spirit Lake, Iowa, Bank Midwest is a state-chartered bank (fed member) with $1.3B in total assets and $1.1B in deposits as of Q2 2026. It operates 11 offices across 3 states. Its charter dates back to 1887.

Bank Midwest has a TellerScore of 69 out of 100 (moderate) based on Q2 2026 data — higher than 53% of its 897 banks with $1 billion – $10 billion. Among 226 banks headquartered in Iowa, it ranks 143rd. Problem-loan coverage contributes the most (94/100, 3.0%); capital cushion contributes the least (52/100, 10.16%).

TellerScore · Q2 2026

Scorecard

Capital cushion52/100
Tier 1 leverage ratio: 10.16%
Loan quality86/100
Noncurrent loans ÷ total loans: 0.42%
Earnings60/100
Return on assets (annualized): 1.01%
Funding & liquidity70/100
Loans ÷ deposits and uninsured-deposit share: 90.1% · 8.6% uninsured
Problem-loan coverage94/100
"Texas ratio": (noncurrent loans + foreclosed property) ÷ (equity + loan-loss reserves): 3.03%

The TellerScore is our own summary of the figures this institution reports publicly; it is not issued or endorsed by any government agency. It is not a prediction, and deposits within insurance limits are protected either way.

9 quarters

Health trend

From Q2 2025 to Q2 2026, the score rose 6 points (63 → 69), mostly because the earnings component improved by 11 points.

TellerScore
586469Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterTellerScore
Q2 202460
Q3 202458
Q4 202459
Q1 202565
Q2 202563
Q3 202565
Q4 202565
Q1 202669
Q2 202669
Tier 1 leverage ratio
5.00%7.61%10.22%well-capitalized benchmarkQ2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterTier 1 leverage ratio
Q2 20249.06%
Q3 20249.19%
Q4 20249.27%
Q1 20259.38%
Q2 20259.45%
Q3 20259.65%
Q4 20259.81%
Q1 202610.22%
Q2 202610.16%
Noncurrent loans
0.42%0.59%0.77%Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterNoncurrent loans
Q2 20240.57%
Q3 20240.77%
Q4 20240.71%
Q1 20250.42%
Q2 20250.59%
Q3 20250.47%
Q4 20250.59%
Q1 20260.43%
Q2 20260.42%
Return on assets
0.55%0.78%1.01%Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterReturn on assets
Q2 20240.70%
Q3 20240.60%
Q4 20240.55%
Q1 20250.79%
Q2 20250.74%
Q3 20250.82%
Q4 20250.85%
Q1 20261.00%
Q2 20261.01%
Quarter-by-quarter figures
QuarterScoreAssetsCapitalProblem loansROALoans/deposits
Q2 202669$1.3B10.16%0.42%1.01%90.1%
Q1 202669$1.3B10.22%0.43%1.00%92.0%
Q4 202565$1.3B9.81%0.59%0.85%88.3%
Q3 202565$1.4B9.65%0.47%0.82%88.9%
Q2 202563$1.4B9.45%0.59%0.74%90.5%
Q1 202565$1.3B9.38%0.42%0.79%91.2%
Q4 202459$1.4B9.27%0.71%0.55%90.0%
Q3 202458$1.4B9.19%0.77%0.60%89.5%
Q2 202460$1.3B9.06%0.57%0.70%93.5%

897 peers · $1 billion – $10 billion

How it compares with peers

Percentile against banks of similar size nationwide (100th = best among peers; for ratios where lower is better, the scale is flipped).

Capital ratio10.16%
41st
Total risk-based capital13.12%
43rd
Problem loans0.42%
57th
Net charge-offs0.25%
16th
Return on assets1.01%
31st
Net interest margin3.99%
68th
Efficiency ratio61.8%
41st
Loans to deposits90.1%
40th
Uninsured deposits8.6%
97th
Loan-loss reserves1.29%
69th
Texas ratio3.0%
56th

Similar-size banks in Iowa

InstitutionScoreAssetsCapitalProblem loansCompare
Capra BankBank Dubuque, IA68 out of 100, Moderate$1.3B8.9%0.00%vs
Iowa State BankBank Hull, IA78 out of 100, Strong$1.3B11.7%0.06%vs
Peoples BankBank Rock Valley, IA69 out of 100, Moderate$1.3B10.7%0.85%vs
American State BankBank Sioux Center, IA66 out of 100, Moderate$1.4B10.8%0.65%vs
Pilot Grove Savings BankBank Pilot Grove, IA74 out of 100, Strong$1.2B8.8%0.13%vs
Farmers State BankBank Marion, IA91 out of 100, Very strong$1.1B14.4%0.21%vs

Deposit insurance

Is my money safe at Bank Midwest?

Yes. Bank Midwest is an FDIC-insured institution (FDIC certificate #5170). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.

An estimated 8.6% of deposits ($99.0M) are above the $250,000 FDIC insurance limit, below the peer median of 31%. Insured balances are protected regardless of the score.

The tier 1 leverage ratio is 10.16%, well above the 5% level regulators use as the "well capitalized" benchmark for this measure. Its total risk-based capital ratio is 13.12% (benchmark: 10%).

Check how much of your own balance is covered

11 locations

Branches

Bank Midwest lists 11 offices in 11 cities across 3 states. Most locations:

  • Armstrong, IA (1)
  • Fairmont, MN (1)
  • Jackson, MN (1)
  • New Ulm, MN (1)
  • Okoboji, IA (1)
  • Sherburn, MN (1)
  • Sioux Falls, SD (1)
  • Spirit Lake, IA (1)
  • Wall Lake, IA (1)
  • Westbrook, MN (1)
  • Windom, MN (1)

All branch addresses and map

HMDA 2025

Mortgage lending

In 2025, Bank Midwest reported 178 home-loan applications under HMDA (LEI 549300USNPUCH96WTF23): 143 originated ($80,645,000 total), 8 denied, and 27 withdrawn or closed by the applicant. Its denial rate on decided applications was 5.3%, compared with 22.2% for all lenders nationwide.

Denial rates depend heavily on loan type and applicant mix and are not a measure of fairness or of your own odds.

Identity & history

Profile

Legal name
Bank Midwest
Former names
First National Bank in Jackson; Bank Midwest, Minnesota Iowa, National Association
Type
State-chartered bank (Fed member)
FDIC certificate #
5170
RSSD ID
45551
Primary regulator
FED
Holding company
Goodenow Bcorp
Established
January 1, 1887
Headquarters
1800 Royal Ave, Spirit Lake, IA 51360
Employees
175

Quick answers

Bank Midwest: common questions

Is Bank Midwest FDIC insured?

Yes. Bank Midwest is an FDIC-insured institution (FDIC certificate #5170). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.

What is Bank Midwest's TellerScore?

69 out of 100 (Moderate), based on its Q2 2026 publicly reported figures. The TellerScore is our own summary and is not issued by any government agency.

Has Bank Midwest ever failed?

There is no failure record for FDIC certificate #5170 in the FDIC failed bank list.

How many branches does Bank Midwest have?

11 offices as of the latest FDIC data, in 3 states.

Nearby

Highest-scoring banks and credit unions with branches near Spirit Lake

InstitutionScoreAssetsCapitalProblem loansCompare
Citizens Community Credit UnionCredit union Fort Dodge, IA88 out of 100, Very strong$253.6M19.1%0.73%vs
The State BankBank Spirit Lake, IA83 out of 100, Strong$88.4M11.7%0.00%vs
First State BankBank Webster City, IA81 out of 100, Strong$674.3M12.4%0.12%vs
Savings BankBank Primghar, IA80 out of 100, Strong$304.8M13.6%0.32%vs
Worthington Federal Savings Bank, FSBBank Worthington, MN80 out of 100, Strong$135.4M14.8%0.65%vs
First National BankBank Oldham, SD77 out of 100, Strong$477.8M18.4%2.01%vs