Applications / Mortgage Analytics / Lenders / Minnesota / Minnwest Bank
Redwood Falls, MN · State non-member bank · FDIC · $3.0 billion assets · 588 loans in 2025
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588
loans originated, 2025
777
applications, 2025
7
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Minnwest Bank is a Minnesota bank whose 588 loans in 2025 were 17% more than in 2024, faster than similar lenders, and it rose to third place in Mankato.
Originations rose 17%, against 9% at similar lenders (state non-member banks making between half and twice as many loans) and 10% for the whole market. Five years before, in 2020, it made 111 loans; the count reached 417 in 2022. Its 2021 merger with Roundbank is one possible source of that rise.
In Mankato it ranked 3 of 180 lenders with 6.0% of the market, up 5.6 points from 0.4%. In Minneapolis-St. Paul it held 0.2%, unchanged, and in Rochester it rose to 0.7%.
Purchases made up 49.5% of its loans, home improvement 23.5% and refinances 20.6%. Its typical loan, $155,000, was smaller than the $185,000 at peers, which may reflect its large share of home-improvement lending. Nearly all of it, 99.7%, was conventional.
LMI (low- and moderate-income) borrowers took 35.0% of its loans, against 27.1% at peers, more than about four in five. LMI areas took 8.8%, against 15.7%, lower than about nine in ten; one possible reason is that its largest market is non-metro Minnesota rather than a city. That share was 18.9% five years before.
Questions the data can answer next
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Minnwest Bank took 777 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 49.5% · Home improvement 23.5% · Refinance 20.6% · Other 6.5%
Conventional 99.7% · USDA (RHS or FSA) 0.3% · of 588 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Minnesota | 517 | 87.9% |
| South Dakota | 49 | 8.3% |
| Wisconsin | 13 | 2.2% |
| Florida | 3 | 0.5% |
| North Dakota | 3 | 0.5% |
| Iowa | 2 | 0.3% |
| Washington | 1 | 0.2% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Minneapolis-St. Paul-Bloomington | 128 |
| Sioux Falls | 54 |
| Rochester | 22 |
| St. Cloud | 16 |
| Mankato | 13 |
| Fargo | 3 |
| Milwaukee-Waukesha | 2 |
| Des Moines-West Des Moines | 1 |
| Duluth | 1 |
| Gainesville | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300WYC8C6REMY4E38 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 302656 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 316958 | 2003–2017 |
Established 19 May 1941. Reported under HMDA 2003-2025.
Mergers, name changes, data editions and corrections: Minnwest Bank's data.
Minnwest Bank's data
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Minnwest Bank and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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