Bank Midwest: how it compares with its peers
Against 32 IA banks with half to twice its assets, Bank Midwest's strongest measure in Q2 2026 is net interest margin (3.99% vs. a 3.61% peer median). Its weakest relative measure is return on assets (1.01% vs. 1.51%).
| Measure | Bank Midwest | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 1.01% | 1.51% | Bottom third Ahead of 13% of peers |
| Net interest margin Annualized net interest income over earning assets. | 3.99% | 3.61% | Top third Ahead of 84% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 61.76% | 53.65% | Bottom third Ahead of 19% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $7.7M | $8.3M | Bottom third Ahead of 28% of peers |
| Loans to deposits Net loans and leases over total deposits. | 90.10% | 89.98% | Context |
What it means for lending operations
Its efficiency ratio of 61.76% is above the 53.65% peer median: it spends more to earn each dollar of revenue than most banks its size. Staff time on manual borrower verification (collecting pay stubs, bank statements, and employment letters, then re-keying them) is one of the larger controllable costs behind that number.
Banks closest in size
- Capra Bank Dubuque, IA · $1.34B
- Iowa State Bank Hull, IA · $1.26B
- Peoples Bank Rock Valley, IA · $1.25B
- American State Bank Sioux Center, IA · $1.45B
- Pilot Grove Savings Bank Pilot Grove, IA · $1.22B
- Farmers State Bank Marion, IA · $1.12B
Questions about Bank Midwest
How big is Bank Midwest?
Bank Midwest, established in 1887, is headquartered in Spirit Lake, IA. It reported $1.35B in total assets in its Q2 2026 FDIC call report and operates 11 offices.
What is Bank Midwest's return on assets?
1.01% annualized in Q2 2026, against a 1.51% median for 32 IA banks with half to twice its assets, ahead of 13% of them.
What is Bank Midwest's efficiency ratio?
61.76% in Q2 2026: it spent about 62 cents in noninterest expense for each dollar of revenue. The peer median is 53.65%, and lower is better.
Is Bank Midwest growing its loans?
Net loans shrank 1.3% over the year to Q2 2026, while deposits shrank 0.8%.
Sources and method
Figures are from the FDIC’s public call report data for the quarter ending 06/30/2026, via FDIC BankFind. Return on assets and net interest margin are annualized year to date. Peers are IA banks with half to twice its assets in the same quarter, excluding this bank. The page refreshes daily, so new quarters appear as banks file. Compare another bank or see every Iowa bank ranked.