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Q2 2026 · read from the 30 June 2026 Call Report · United States · Plains · Minnesota, the state note

Midwest Bank

Detroit Lakes, Minnesota · $985M in assets · beside the 11 other Minnesota banks between $300M and $1B

The filing

112.9%
Loans / deposits
12th of 12
0.05%
NPA / loans
2nd of 12
40.1%
Efficiency
2nd of 12

Midwest Bank is the largest of the 12 Minnesota banks nearest its size between $300M and $1B, with $985M in assets at 30 June 2026. Loans are 112.9% of deposits, the highest in the cohort against a median of 89.5%, and equity is 9.5% of assets, 8th of 12. Loans grew +19.7% in the year, 2nd of 12, and deposits grew 11.0%; the cohort's median loan growth is +4.9%.

Noncurrent loans are 0.05% of the book, 2nd of 12 against a median of 0.24%; 0.85% is 30 to 89 days past due, and the allowance covers them 19.7 times. Commercial real estate is 29.9% of loans, 8th of 12 against a median of 28.7%, and 285% of capital, below the 300% screen, with construction at 118% against the 100% screen. CRE has grown +98.5% over 36 months, past the guidance's 50% prong.

Return on assets is 2.46%, 3rd of 12 against a median of 1.47%, on an efficiency ratio of 40.1%, 2nd of 12. Five years ago it was 1.75%. The question is whether the new lending seasons as cleanly as the book it joined, and what funded it.

Loans as a share of depositsMN banks $300M to $1B · 30 June 2026 · lower is stronger, listed first
median 89.5% VS Vermillion State Bank 52.5% NB Northeast Bank 78.4% HB Highland Bank 82.3% PB Pioneer Bank 85.1% FN First National Bank North 85.4% VU Versabank USA National Association 85.4% AB Alliance Bank 93.6% FN Falcon National Bank 97.0% UP United Prairie Bank 100.7% sC 21st Century Bank 102.1% PB Platinum Bank 108.5% MB Midwest Bank 112.9%
Loans, year over yearMN banks $300M to $1B · 30 June 2026 · no better direction, largest first
median +4.9% VU Versabank USA National Association +387.3% MB Midwest Bank +19.7% FN First National Bank North +10.4% sC 21st Century Bank +9.5% PB Platinum Bank +6.5% AB Alliance Bank +6.1% PB Pioneer Bank +3.7% VS Vermillion State Bank +3.6% UP United Prairie Bank +2.3% HB Highland Bank +0.8% NB Northeast Bank +0.4% FN Falcon National Bank -2.9%

SBA 7(a), FY2008 to FY2026

Midwest Bank is the 160th largest 7(a) lender into Minnesota of 444, with $6M across 34 loans, 0.1% of everything approved in the state (Old National Bank leads with $1.05B). 4 of its 7 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Minnesota, and where it has gone quietshare movement, FY2023 to FY2025 against FY2020 to FY2022; outlined counties are on the book
Gaining shareLosing shareFlatGone quiet: nothing since FY2023Too thin to read a directionNo record
Every market on the book, largest firstrank and share among every lender in the county, FY2008 to FY2026
CountyApprovedRankShareTrend
Becker, MN$4M2nd of 3514.9%-5.6 pts
Clay, MN$848K22nd of 421.3%thin
Douglas, MN$589K22nd of 400.7%quiet FY2019
Otter Tail, MN$351K26th of 470.4%thin
Wilkin, MN$87K4th of 49.3%quiet FY2010
Crow Wing, MN$40K55th of 560.0%quiet FY2008
Morton, ND$25K19th of 210.1%quiet FY2010
What it lends to: the five largest industries on the bookshare of book is concentration; share of sector and rank are position, among every 7(a) lender nationally
IndustryLoansApprovedShare of bookShare of sectorRank
Real estate & leasing2$1M19.3%0.01%696th of 1,452
Manufacturing5$892K14.9%0.00%1437th of 2,246
Wholesale trade4$888K14.8%0.00%936th of 1,651
Retail trade4$830K13.8%0.00%1614th of 2,589
Accommodation & food services9$688K11.5%0.00%1762nd of 2,596
7(a) lenders into Minnesota, share of approvals since FY2008444 lenders on record; the ten largest and Midwest Bank
ON Old National Bank 10.7% $1.05B · 2,156 loans WF Wells Fargo Bank National Associa… 6.7% $663M · 2,451 loans UB U.S. Bank, National Association 5.7% $556M · 3,508 loans B Bankvista 4.5% $438M · 1,010 loans CF Choice Financial Group 3.6% $349M · 744 loans PB Platinum Bank 3.2% $318M · 420 loans LO Live Oak Banking Company 2.5% $247M · 190 loans sC 21st Century Bank 2.4% $238M · 699 loans FN Falcon National Bank 2.1% $211M · 546 loans SB Sunrise Banks National Association 2.1% $204M · 726 loans MB Midwest Bank 0.1% $6M · 34 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; Tier 1 stands in for the 4 CBLR filers, Midwest Bank among them; owner-occupied excluded; bold marks a screen met
Midwest BankRankCohort median
Total CRE against capital, the 300% screen285%11th of 12235%
Construction against capital, the 100% screen118%12th of 1239%
Construction and land development, share of loans12.4%12th of 124.4%
Non-owner-occupied nonfarm nonresidential, share of loans13.9%7th of 1211.2%
Total CRE, the guidance definition, share of loans29.9%8th of 1228.7%
CRE growth over 36 months, the third prong+98.5%12th of 12+22.5%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
Midwest Bank$985M2.5%40.1%0.05%0.00%0.9%112.9%9.5%
United Prairie Bank$939M1.4%58.2%0.66%0.09%0.9%100.7%10.2%
Vermillion State Bank$931M2.6%23.2%0.24%-0.12%1.6%52.5%13.1%
Versabank USA National Association$912M1.2%42.0%0.10%0.00%0.0%85.4%20.6%
21st Century Bank$895M1.3%49.8%0.19%0.10%0.9%102.1%9.2%
Pioneer Bank$884M1.6%57.0%0.58%0.03%1.0%85.1%10.2%
Falcon National Bank$872M1.2%61.6%1.04%0.61%1.8%97.0%10.6%
First National Bank North$864M2.6%48.7%0.23%0.02%1.5%85.4%11.9%
Northeast Bank$837M1.5%64.3%0.20%-0.09%0.9%78.4%8.4%
Highland Bank$776M0.0%75.2%2.51%0.79%2.5%82.3%7.4%
Alliance Bank$756M1.0%64.4%0.01%-0.01%1.7%93.6%10.2%
Platinum Bank$739M1.5%58.1%0.81%0.00%1.3%108.5%8.2%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Midwest BankCohort median
20212026Change20212026Change
Loans$456M$890M+95%$458M$647M+41%
Deposits$581M$788M+36%$638M$759M+19%
NPA / loans0.83%0.05%-0.78 pts0.37%0.24%-0.13 pts
Efficiency49.1%40.1%-8.9 pts53.9%57.5%+3.6 pts
ROA1.75%2.46%+0.72 pts1.66%1.47%-0.19 pts

This read was prepared for Midwest Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on Midwest Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort MN banks $300M to $1B
Institution www.midwestbank.net

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by state and asset band; SBA 7(a) FOIA release as of the 2026 file, loans credited to the institution holding them today. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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