Northwest Bank Mortgage Rates, Fees & Info

Spencer, IA

LEI: 549300RBJCM5B02O5U05

Tax ID: 42-1325507

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
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    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
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  • Business Loans

    • Review & Overview

    Northwest Bank is a smaller bank specializing in Home Purchase and Refi loans. Northwest Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Des Moines, Spirit Lake, Omaha, Sioux City, and Spencer among others. We have data for 78 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Northwest Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Northwest Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 5.98% 4/18/24
    30 Year Conventional Purchase 6.65% 4/18/24
    30 Year Conventional Refi 6.60% 4/18/24
    30 Year Cash-out Refi 6.69% 4/18/24
    30 Year FHA Purchase 7.48% 4/18/24
    30 Year FHA Refi 6.39% 4/18/24
    30 Year VA Purchase 6.06% 4/18/24
    30 Year USDA Purchase 6.84% 4/18/24
    15 Year Conventional Purchase 5.93% 4/18/24
    15 Year Conventional Refi 5.94% 4/18/24
    15 Year Cash-out Refi 5.94% 4/18/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Northwest Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Northwest Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    3,490

    Origination Dollar Volume (All Markets)

    $663,800,000

    Employee count

    327 Show all (16) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 951 $220,215,000 $231,562 $2,540 2.93%
    Outside of Metro Areas 746 $102,460,000 $137,346 $2,175 2.96%
    Spirit Lake, IA (FHA|USDA|VA) 426 $97,070,000 $227,864 $1,701 3.10%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 318 $70,350,000 $221,226 $1,978 3.22%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 279 $42,545,000 $152,491 $2,983 2.92%
    Spencer, IA (FHA|USDA|VA) 261 $34,705,000 $132,969 $2,145 2.94%
    Fort Dodge, IA (FHA|USDA|VA) 206 $24,620,000 $119,515 $2,205 3.03%
    AMES, IA (FHA|USDA|VA) 86 $19,130,000 $222,442 $2,712 3.01%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 27 $7,805,000 $289,074 $3,424 2.94%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 15 $6,815,000 $454,333 $6,027 3.05%
    Storm Lake, IA (FHA|USDA|VA) 28 $3,310,000 $118,214 $2,215 3.14%
    SIOUX FALLS, SD (FHA|USDA|VA) 10 $2,180,000 $218,000 $1,505 3.38%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 9 $2,005,000 $222,778 $2,025 2.67%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $1,785,000 $595,000 $8,168 3.58%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $1,640,000 $410,000 $5,201 2.69%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $1,550,000 $775,000 $5,315 3.31%
    LINCOLN, NE (FHA|USDA|VA) 7 $1,485,000 $212,143 $1,694 3.03%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 6 $1,410,000 $235,000 $1,973 2.79%
    Mason City, IA (FHA|USDA|VA) 7 $1,335,000 $190,714 $1,983 2.64%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 7 $1,315,000 $187,857 $1,960 3.43%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $1,150,000 $575,000 $4,153 3.13%
    IOWA CITY, IA (FHA|USDA|VA) 5 $1,015,000 $203,000 $1,534 3.95%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 6 $1,000,000 $166,667 $1,642 2.88%
    COLUMBIA, MO (FHA|USDA|VA) 1 $905,000 $905,000 $8,118 2.88%
    Pella, IA (FHA|USDA|VA) 5 $835,000 $167,000 $2,973 3.20%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $715,000 $715,000 $0 3.80%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $640,000 $320,000 $2,215 3.25%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 2 $620,000 $310,000 $2,084 3.44%
    Key West, FL (FHA|USDA|VA) 2 $580,000 $290,000 $4,468 1.94%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $545,000 $545,000 $3,346 2.75%
    Norfolk, NE (FHA|USDA|VA) 1 $535,000 $535,000 $2,255 3.13%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $460,000 $230,000 $3,590 2.88%
    MANKATO, MN (FHA|USDA|VA) 2 $450,000 $225,000 $1,869 2.75%
    Carroll, IA (FHA|USDA|VA) 3 $435,000 $145,000 $2,183 3.33%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 4 $430,000 $107,500 $1,952 3.56%
    Durango, CO (FHA|USDA|VA) 1 $425,000 $425,000 $3,439 3.00%
    Marshalltown, IA (FHA|USDA|VA) 4 $420,000 $105,000 $2,098 4.06%
    Brookings, SD (FHA|USDA|VA) 3 $415,000 $138,333 $2,115 2.54%
    Brainerd, MN (FHA|USDA|VA) 1 $405,000 $405,000 $1,050 3.13%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $405,000 $405,000 $2,662 2.63%
    Kalispell, MT (FHA|USDA|VA) 1 $395,000 $395,000 $2,225 2.88%
    TUCSON, AZ (FHA|USDA|VA) 1 $365,000 $365,000 $4,324 2.88%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $350,000 $175,000 $2,670 1.94%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $350,000 $175,000 $0 3.45%
    Spearfish, SD (FHA|USDA|VA) 2 $340,000 $170,000 $2,150 2.56%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $335,000 $335,000 $2,476 2.25%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $325,000 $325,000 $2,138 2.25%
    Muscatine, IA (FHA|USDA|VA) 1 $325,000 $325,000 $4,761 2.75%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $305,000 $305,000 $0 1.50%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $295,000 $295,000 $3,339 3.13%
    Willmar, MN (FHA|USDA|VA) 1 $275,000 $275,000 $1,392 2.63%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $255,000 $255,000 $3,314 3.00%
    WINCHESTER, VA-WV (FHA|USDA|VA) 1 $255,000 $255,000 $2,799 3.00%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $245,000 $245,000 $4,971 3.25%
    GETTYSBURG, PA (FHA|USDA|VA) 1 $235,000 $235,000 $3,745 2.13%
    Columbus, NE (FHA|USDA|VA) 2 $230,000 $115,000 $1,970 1.94%
    DUBUQUE, IA (FHA|USDA|VA) 1 $215,000 $215,000 $1,614 2.75%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $215,000 $215,000 $3,139 3.00%
    Winona, MN (FHA|USDA|VA) 1 $205,000 $205,000 $3,569 3.00%
    Fergus Falls, MN (FHA|USDA|VA) 1 $195,000 $195,000 $2,098 3.50%
    KANKAKEE, IL (FHA|USDA|VA) 1 $195,000 $195,000 $1,594 1.88%
    Quincy, IL-MO (FHA|USDA|VA) 1 $185,000 $185,000 $9,248 2.75%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $175,000 $175,000 $2,573 2.63%
    Fremont, NE (FHA|USDA|VA) 1 $175,000 $175,000 $1,755 2.75%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $145,000 $145,000 $3,284 2.88%
    Owatonna, MN (FHA|USDA|VA) 1 $135,000 $135,000 $3,283 2.88%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $135,000 $135,000 $1,840 3.25%
    COLUMBUS, OH (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.75%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $125,000 $125,000 $2,557 3.00%
    ST. CLOUD, MN (FHA|USDA|VA) 1 $125,000 $125,000 $1,016 2.25%
    GREAT FALLS, MT (FHA|USDA|VA) 1 $75,000 $75,000 $3,333 2.75%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $75,000 $75,000 $0 1.99%
    Worthington, MN (FHA|USDA|VA) 2 $70,000 $35,000 $2,191 2.50%
    FARGO, ND-MN (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.75%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.75%
    New Ulm, MN (FHA|USDA|VA) 1 $55,000 $55,000 $2,314 4.50%
    Austin, MN (FHA|USDA|VA) 1 $55,000 $55,000 $2,676 3.00%
    Fairmont, MN (FHA|USDA|VA) 1 $15,000 $15,000 $0 3.75%
    Northwest Bank's top markets include Des Moines, Spirit Lake, Omaha, Sioux City, and Spencer among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Northwest Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Bank
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    RESIDENTIAL MORTGAGE NETWORK, INC.
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    SIOUXLAND FEDERAL CREDIT UNION
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    VisionBank of Iowa
    Similarity Rank: 286
    KELLOGG MIDWEST FEDERAL CREDIT UNION
    Similarity Rank: 322
    First Credit Union
    Similarity Rank: 378
    Fidelity Bank
    Similarity Rank: 392
    U.S. HOME MORTGAGE, INC.
    Similarity Rank: 413
    GREATER IOWA CREDIT UNION
    Similarity Rank: 414
    MUTUAL FIRST
    Similarity Rank: 484

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,564 $566,210,000 $220,831 $2,169 3.04%
    HELOC 776 $69,300,000 $89,304 n/a 2.86%
    FHA 76 $13,970,000 $183,816 $5,993 3.06%
    VA 42 $10,460,000 $249,048 $4,616 2.60%
    USDA 32 $3,860,000 $120,625 $3,536 3.06%

    For 2021, Northwest Bank's most frequently originated type of loan was Conventional, with 2,564 originations. Their 2nd most popular type was HELOC, with 776 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,497 $333,265,000 $222,622 $2,719 3.11%
    Refi 923 $189,795,000 $205,628 $1,912 2.89%
    Cash Out Refi 422 $85,390,000 $202,346 $2,127 2.87%
    Home Improvement 330 $21,330,000 $64,636 $444 2.96%
    Other 318 $34,020,000 $106,981 $1,566 2.96%

    For 2021, Northwest Bank's most frequently cited loan purpose was Home Purchase, with 1,497 originations. The 2nd most popular reason was Refi, with 923 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,706 $411,460,000 $241,184 $2,569 3.01%
    10 Year 828 $77,630,000 $93,756 $1,414 2.88%
    15 Year 517 $95,655,000 $185,019 $1,921 2.46%
    5 Year 167 $34,985,000 $209,491 $188 4.03%
    20 Year 159 $26,925,000 $169,340 $1,873 2.89%
    Other 99 $14,865,000 $150,152 $1,463 4.70%
    1 Year 11 $2,095,000 $190,455 $0 4.19%
    3 Year 3 $185,000 $61,667 $175 4.60%

    For 2021, Northwest Bank's most frequently cited loan duration was 30 Year, with 1,706 originations. The 2nd most popular length was 10 Year, with 828 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,774 $386,510,000 $217,875
    $1k-2k 630 $118,760,000 $188,508
    $2k-3k 50 $15,100,000 $302,000
    $3k-4k 26 $8,720,000 $335,385
    $5k+ 19 $16,535,000 $870,263
    $4k-5k 12 $5,090,000 $424,167

    Northwest Bank's average total fees were $2,569, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,774 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,204 $272,370,000 $226,221
    3-4% 1,132 $217,360,000 $192,014
    <2.5% 954 $149,500,000 $156,709
    4-5% 131 $18,645,000 $142,328
    5-6% 56 $5,290,000 $94,464
    6-7% 7 $485,000 $69,286
    7-8% 6 $150,000 $25,000

    During 2021, Northwest Bank's average interest rate for loans was 3.01%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,204 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,150 $167,440,000 $145,600 $2,212 2.98%
    $200k-400k 1,058 $288,900,000 $273,062 $2,463 2.93%
    $100,000 or less 1,028 $57,480,000 $55,914 $1,922 3.08%
    $400k-600k 205 $98,495,000 $480,463 $2,619 2.95%
    $600k-1MM 29 $22,505,000 $776,034 $5,638 3.38%
    $1MM+ 20 $28,980,000 $1,449,000 $7,230 3.41%

    2021 saw Northwest Bank place emphasis on $100k-200k loans with 1,150 originations, totaling $167,440,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 711 $100,055,000 $140,724 $2,221 2.94%
    $100k-150k 692 $145,400,000 $210,116 $2,396 2.91%
    $50k or less 579 $62,385,000 $107,746 $2,299 3.00%
    $75k-100k 557 $100,005,000 $179,542 $2,455 2.98%
    $150k-250k 452 $109,310,000 $241,836 $2,234 2.93%
    $250k+ 268 $98,150,000 $366,231 $2,816 3.00%

    Northwest Bank lent most frequently to those with incomes in the $50k-75k range, with 711 originations. The second most popular income band? $100k-150k, with 692 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 921 $165,175,000 $179,343 $2,201 2.86%
    30-36% 655 $128,385,000 $196,008 $2,380 2.95%
    <20% 464 $77,820,000 $167,716 $2,166 2.78%
    36% 118 $21,050,000 $178,390 $2,189 3.00%
    40% 108 $24,270,000 $224,722 $2,836 3.00%
    42% 102 $20,600,000 $201,961 $2,192 3.10%
    43% 102 $21,440,000 $210,196 $2,642 2.96%
    44% 100 $21,070,000 $210,700 $2,873 3.16%
    37% 100 $16,630,000 $166,300 $2,208 3.12%
    41% 98 $18,420,000 $187,959 $2,396 3.10%
    39% 95 $18,815,000 $198,053 $2,294 3.15%
    38% 91 $16,005,000 $175,879 $2,371 3.00%
    45% 76 $13,780,000 $181,316 $2,110 2.96%
    46% 64 $14,000,000 $218,750 $2,530 2.92%
    48% 56 $11,570,000 $206,607 $2,665 3.03%
    49% 53 $10,635,000 $200,660 $2,643 2.92%
    47% 51 $10,785,000 $211,471 $2,404 2.80%
    50-60% 29 $6,345,000 $218,793 $2,394 3.39%
    >60% 6 $3,140,000 $523,333 $6,182 3.52%

    Northwest Bank lent most frequently to those with DTI ratios of 20-30%, with 921 originations. The next most common DTI ratio? 30-36%, with 655 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,836 $518,890,000 $182,965 $2,339 2.94%
    Not provided 421 $92,975,000 $220,843 $2,402 2.96%
    Not applicable 165 $37,415,000 $226,758 $0 4.00%
    Asian 39 $8,275,000 $212,179 $2,256 2.98%
    Black 18 $4,410,000 $245,000 $2,482 3.40%
    Asian Indian 5 $1,285,000 $257,000 $1,294 2.73%
    American Indian 3 $265,000 $88,333 $2,099 3.38%
    Chinese 1 $205,000 $205,000 $3,472 3.00%
    Other Asian 1 $45,000 $45,000 $0 3.75%
    Other Pacific Islander 1 $35,000 $35,000 $0 1.99%

    Approval Rates

    Total approvals of all applications
    96.88%

    Northwest Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    85.47%

    Northwest Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $35,000 $35,000
    200.0 1 $5,000 $5,000
    NA 3,488 $663,760,000 $190,298

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    3,490 $663,800,000 $190,201

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 370 $41,420,000 $111,946 $1,928 2.96%
    40-60% 466 $91,400,000 $196,137 $1,939 2.89%
    60-80% 1,165 $264,485,000 $227,026 $2,173 3.02%
    80-100% 1,076 $243,810,000 $226,589 $2,709 3.01%
    Over 100% 6 $1,900,000 $316,667 $10,982 2.52%
    Under 20% 404 $20,730,000 $51,312 $745 3.03%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    NORTHWEST BANCSHARES INC Conventional home mortgage Struggling to pay mortgage 1 11.1%
    NORTHWEST BANCSHARES INC Conventional home mortgage Trouble during payment process 5 55.6%
    NORTHWEST BANCSHARES INC Home equity loan or line of credit (HELOC) Trouble during payment process 1 11.1%
    NORTHWEST BANCSHARES INC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
    NORTHWEST BANCSHARES INC Other type of mortgage Struggling to pay mortgage 1 11.1%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Northwest Bank 723 First Avenue South Fort Dodge, IA 50501 Full Service B&M $30,131
    Northwest Bank 801 Sumner Avenue Humboldt, IA 50548 Full Service B&M $82,278
    Northwest Bank 10 North 29th Street Fort Dodge, IA 50501 Full Service B&M $168,708
    Northwest Bank 1008 18th Street Spirit Lake, IA 51360 Full Service B&M $174,575
    Northwest Bank 1009 Sw Oralabor Road Ankeny, IA 50023 Full Service B&M $52,168
    Northwest Bank 111 Central Avenue Nw Le Mars, IA 51031 Full Service B&M $92,400
    Northwest Bank 14320 Arbor Street Omaha, NE 68144 Full Service B&M $155,828
    Northwest Bank 1802 Okoboji Avenue Milford, IA 51351 Full Service B&M $35,056
    Northwest Bank 204 East State Street Algona, IA 50511 Full Service B&M $106,883
    Northwest Bank 213 Duff Ave, Ste 3 Ames, IA 50010 Full Service B&M $6,799
    Northwest Bank 242 North Main Avenue Sioux Center, IA 51250 Full Service B&M $94,671
    Northwest Bank 46 North Okoboji Grove Road Arnolds Park, IA 51331 Full Service B&M $73,514
    Northwest Bank 5700 University Ave West Des Moines, IA 50266 Full Service B&M $182,808
    Northwest Bank 5801 Sunnybrook Drive Sioux City, IA 51101 Full Service B&M $100,056
    Northwest Bank 705 North Grand Avenue Spencer, IA 51301 Full Service B&M $250,242
    Northwest Bank 705 North Grand Avenue, Po Box 80 Spencer, IA 51301 Full Service B&M $0
    Northwest Bank 818 West Seventh Street Sioux City, IA 51103 Full Service B&M $21,291
    Northwest Bank 911 North Ankeny Boulevard Ankeny, IA 50021 Full Service B&M $74,126
    Northwest Bank 9719 Giles Rd La Vista, NE 68128 Full Service B&M $39,053
    Northwest Bank One North 6th Street Estherville, IA 51334 Full Service B&M $68,935

    For 2021, Northwest Bank had 20 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $69,046
    Net interest income $63,291
    Total noninterest income $29,776
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,306
    Trading account gains and fees $0
    Additional Noninterest Income $27,470
    Pre-tax net operating income $32,749
    Securities gains (or losses, -) $1
    Income before extraordinary items $24,809
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $24,809
    Minority interest net income $0
    Net income $24,809
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $24,808

    Northwest Bank's gross interest income from loans was $69,046,000.
    Northwest Bank's net interest income from loans was $63,291,000.
    Northwest Bank's fee based income from loans was $2,306,000.
    Northwest Bank's net income from loans was $24,809,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,755
    Provision for credit losses $1,593
    Total noninterest expense $58,725
    Salaries and employee benefits $34,020
    Premises and equipment expense $5,721
    Additional noninterest expense $18,984
    Applicable income taxes $7,941
    Net charge-offs $135
    Cash dividends $10,680

    Northwest Bank's interest expense for loans was $5,755,000.
    Northwest Bank's payroll and benefits expense were $34,020,000.
    Northwest Bank's property, plant and equipment expenses $5,721,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,959,074
    Deposits held in domestic offices $1,959,074
    Deposits by Individuals, partnerships, and corporations $1,811,254
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $147,572
    Deposits by Commercial banks and other depository institutions in U.S. $247
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $1,016,345
    Demand deposits $1,016,345
    Nontransaction accounts $942,729
    Money market deposit accounts (MMDAs) $197,272
    Other savings deposits (excluding MMDAs) $381,338
    Total time deposits $364,119
    Total time and savings deposits $942,729
    Noninterest-bearing deposits $479,337
    Interest-bearing deposits $1,479,737
    Retail deposits $1,877,007
    IRAs and Keogh plan accounts $37,150
    Brokered deposits $6,043
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,278,779
    Cash & Balances due from depository institutions $211,413
    Interest-bearing balances $188,383
    Total securities $398,163
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,551,486
    Loan and leases loss allowance $21,863
    Trading account assets $0
    Bank premises and fixed assets $42,758
    Other real estate owned $2,271
    Goodwill and other intangibles $13,558
    All other assets $59,130

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,278,779
    Total Liabilities $2,092,474
    Total deposits $1,959,074
    Interest-bearing deposits $1,479,737
    Deposits held in domestic offices $1,959,074
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $88,246
    Trading liabilities $0
    Other borrowed funds $27,500
    Subordinated debt $0
    All other liabilities $17,654

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,551,486
    Loan and leases loss allowance $21,863
    Total loans and leases (domestic) $1,573,349
    All real estate loans $1,117,363
    Real estate loans in domestic offices $1,117,363
    Construction and development loans $143,666
    Residential 1-4 family construction $40,011
    Other construction, all land development and other land $103,655
    Loans secured by nonfarm nonresidential properties $447,881
    Nonfarm nonresidential secured by owner-occupied properties $166,343
    Commercial real estate & other non-farm, non-residential $281,538
    Multifamily residential real estate $80,109
    1-4 family residential loans $330,400
    Farmland loans $115,307
    Loans held in foreign offices $0
    Farm loans $123,827
    Commercial and industrial loans $280,412
    To non-U.S. addressees $0
    Loans to individuals $29,838
    Credit card loans $0
    Related Plans $3,122
    Consumer Auto Loans $20,093
    Other loans to individuals $6,623
    All other loans & leases $21,909
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,285
    Non 1-4 family restructured loans & leases $1,081
    Total loans and leases (foreign) $0

    Northwest Bank had $1,551,486,000 of loans outstanding in 2021. $1,117,363,000 of loans were in real estate loans. $143,666,000 of loans were in development loans. $80,109,000 of loans were in multifamily mortgage loans. $330,400,000 of loans were in 1-4 family mortgage loans. $123,827,000 of loans were in farm loans. $0 of loans were in credit card loans. $20,093,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 513 $129,543 $252,520
    Nonfarm, nonresidential loans - <$100k 116 $5,338 $46,017
    Nonfarm, nonresidential loans - $100-250k 159 $21,496 $135,195
    Nonfarm, nonresidential loans - $250k-1MM 238 $102,709 $431,550
    Commercial & Industrial, US addressed loans - <$1MM 1,507 $157,963 $104,820
    Commercial & Industrial, US addressed loans - <$100k 868 $23,693 $27,296
    Commercial & Industrial, US addressed loans - $100-250k 332 $32,558 $98,066
    Commercial & Industrial, US addressed loans - $250k-1MM 307 $101,712 $331,309
    Farmland loans - <$1MM 204 $34,253 $167,907
    Farmland loans - <$100k 41 $1,916 $46,732
    Farmland loans - $100-250k 87 $10,507 $120,770
    Farmland loans - $250k-1MM 76 $21,830 $287,237
    Agriculture operations loans - <$1MM 731 $70,649 $96,647
    Agriculture operations loans - <$100k 431 $19,421 $45,060
    Agriculture operations loans - $100-250k 174 $19,802 $113,805
    Agriculture operations loans - $250k-1MM 126 $31,426 $249,413