Bank Midwest
Spirit Lake, IA · Owner: Goodenow Bcorp
$1.3B
total assets, June 30, 2026
$1.3B
total assets, June 30, 2026
Bank Midwest is a state member bank based in Spirit Lake, IA, owned by Goodenow Bcorp. As of June 30, 2026 it held $1.3 billion in assets and $1.1 billion in deposits; assets were down 1.0% from a year before. It has 11 branches in 3 states.
Updated Oct 11, 2026 · numbers as of June 30, 2026
Total assets
$1.3B
-1.0% in a year · +2.1% in a quarter
Deposits
$1.1B
-0.8% in a year · +2.5% in a quarter
Loans
$1.0B
-1.1% in a year · +0.5% in a quarter
Profit so far
$6.7M
Jan 1 to Jun 30, 2026 · +34.4% in a year
Capital ratio
10.16%
+0.71 pts in a year
Return on assets
1.01%
+0.27 pts in a year
Facts
- Type
- State member bank
- Head office
- 1800 Royal Ave, Spirit Lake, IA, 51360
- County
- Dickinson
- Holding company
- Goodenow Bcorp
- Established
- Jan 1, 1887
- Employees
- 175
- Branches
- 11 in 3 states
- Website
- bankmidwest.com
- Id
- b5170
Quarter by quarter
March 31, 1984 to June 30, 2026
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Branches
11 offices as of June 30, 2026, holding $1.1 billion in deposits
Branch map
Every branch, sized by its deposits
| State | Branches | Deposits | Share |
|---|---|---|---|
| Minnesota | 6 | $662M | 57.6% |
| Iowa | 4 | $428M | 37.2% |
| South Dakota | 1 | $60.4M | 5.3% |
| Largest branches | Place | Deposits |
|---|---|---|
| Bank Midwest (main office) | Spirit Lake, IA | $313M |
| Windom Branch | Windom, MN | $179M |
| Fairmont Branch | Fairmont, MN | $175M |
| Jackson Branch | Jackson, MN | $133M |
| New Ulm Branch | New Ulm, MN | $102M |
| Sioux Falls Branch | Sioux Falls, SD | $60.4M |
| Wall Lake Branch | Wall Lake, IA | $57.5M |
| Armstrong Branch | Armstrong, IA | $57.2M |
| Westbrook Branch | Westbrook, MN | $43.9M |
| Sherburn Branch | Sherburn, MN | $28.2M |
Related pages
Questions and answers
How big is Bank Midwest?
$1.3 billion in total assets and $1.1 billion in deposits as of June 30, 2026, with assets down 1.0% from a year before. Its loans were $1.0 billion.
How many branches does Bank Midwest have?
11 branches in 3 states as of June 30, 2026. The most deposits are in Minnesota ($661.8 million).
Is Bank Midwest profitable?
Yes: it earned $6.74 million from January 1 to June 30, 2026 (up 34.4% from the same months a year before). Its return on assets was 1.01% a year; about 1% is typical.
Who owns Bank Midwest?
Bank Midwest is owned by Goodenow Bcorp, its holding company.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.