Western State Bank

Headquarters

110 4th St Se
Devils Lake, ND 58301
See all branch locations →

Notable Rates	APY	Vs.Others
Savings	N.A.	4.66% →
1-Year CD	N.A.	4.59% →
2-Year CD	N.A.	4.25% →
5-Year CD	N.A.	4.15% →
30-Year Mortgage	N.A.	4.91% →
15-Year Mortgage	N.A.	4.39% →
HELOC	N.A.	0.99% →

Reviewed by Jean-Marc | November 10, 2023 |

Just found out after submitting all my personal information:

"Western also allows one free outgoing wire per month."
"External transfers from Western State Bank Online Banking: After 60 days you will have access to External Transfer where you can add up to five external accounts and transfer money back and forth. The limits are $5,000 per day ($10,000 per 30-day period) transferred in and $10,000 per day ($20,000 per 30-day period) transferred out."

Not a good fit if you have a little bit of savings.

Overview
Deposit Rates
Loan Rates
Branches
Climate
Financial Details
FAQs
Reviews

2025 Overview

General Bank Information

Western State Bank is an FDIC insured institution located in Devils Lake, ND. It was founded in 1902 and has approximately $2.34 billion in assets. Customers can open an account at one of its 13 branches.


FDIC Insured	Yes
FDIC Certificate	# 9123
Date Established	1902
Assets	$ 2.34 billion
Loans	$ 2.07 billion
Deposits	$ 2.03 billion
Capital	$ 268.66 million

For a more detailed analysis of Western State Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - April 30, 2025

Your Current Location: Ohio, OH 43085

Savings and Money Market Rates	APY	MIN	MAX
Money Market	4.00%	$0	-	Learn More Reviews

Bank Offers

Western State Bank Drops Money Market Rate to 1.35%

May 26, 2020

Western State Bank has dropped its money market rate to 1.35% APY. The rate had been at 1.60% and Western State Bank had been an aggressive early entrant in the online savings and money market space in early 2020.

Loan Rates - April 30, 2025

Your Current Location: Ohio, OH 43085

There are currently no loan rates available for Western State Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Ohio 30 Year Fixed Mortgage Rates 2025

Lender	APR	Rate (%)	Monthly Payment	Learn More
NMLS ID: 401822	6.632%	6.500% 0.75 points $4,395 fees	$2,023	Learn More
NMLS ID: 6606	6.715%	6.625% 0.88 points $2,986 fees	$2,049	Learn More
NMLS ID: 3030	7.576%	7.500% 0.75 points $2,400 fees	$2,238	Learn More
NMLS ID: 491986		points fees		Learn More

See More Mortgage Rates →

Featured - Ohio Home Equity Line Of Credit Rates 2025

Lender	APR (%)^?	Monthly Payment^?	Learn More
Figure Home Equity See Table	Intro APR 7.300 % After Intro: 7.300 %	$15,000	Learn More More Info
Available APRs range from 6.65% - 15.40*, which includes the payment of a higher origination fee in exchange for a reduced interest rate, which is not available to all applicants or in all states.(the advertised APR includes a combined 0.25% discount for opting into a credit union membership (0%) and enrolling in autopay (0.25%) as well as payment of higher origination fee in exchange for a reduced rate, which is not available to all applicants or in all states). The lowest APRs are only available to the most qualified applicants, depending on credit profile and the state where the property is located, and those who also select five year loan terms; APRs will be higher for other applicants and those who select longer loan terms. Rates change frequently so your exact APR will depend on the date you apply. APRs for home equity lines of credit do not include costs other than interest. You will be responsible for an origination fee of up to 4.99% of your initial draw, depending on the state in which your property is located and your credit profile. You may also be responsible for paying the costs of valuation if an AVM is not available for your property ($180), manual notarization if your county doesn’t permit eNotary ($380), and recording fees ($0 - $315) and recording taxes, which vary by state and county ($0-$1,400 per one hundred thousand dollars borrowed). Property insurance is required as a condition of the loan and flood insurance may be required if your property is located in a flood zone. Flexible terms, borrow $15K-$400K, redraw up to 100% Use to consolidate debt or finance your next home project 100% digital app & automated valuation Largest non-bank HELOC lender in the US
Reliant Home Funding, Inc See Table	Intro APR 7.300 % After Intro: 7.300 %	$15,000	Learn More More Info
Available APRs range from 6.60% - 14.15*, which includes the payment of a higher origination fee in exchange for a reduced interest rate, which is not available to all applicants or in all states.(The advertised APR includes enrolling in autopay (0.25%) as well as payment of higher origination fee in exchange for a reduced rate, which is not available to all applicants or in all states). The lowest APRs are only available to the most qualified applicants, depending on credit profile and the state where the property is located, and those who also select five year loan terms; APRs will be higher for other applicants and those who select longer loan terms. Rates change frequently so your exact APR will depend on the date you apply. APRs for home equity lines of credit do not include costs other than interest. You will be responsible for an origination fee of up to 4.99% of your initial draw, depending on the state in which your property is located and your credit profile. You may also be responsible for paying the costs of valuation if an AVM is not available for your property ($180), manual notarization if your county doesn’t permit eNotary ($380), and recording fees ($0 - $315) and recording taxes, which vary by state and county ($0-$1,400 per one hundred thousand dollars borrowed). Property insurance is required as a condition of the loan and flood insurance may be required if your property is located in a flood zone. Consumers wishing to file a complaint against a mortgage company or a licensed residential mortgage loan originator should complete and send a complaint form to the Texas department of savings and mortgage lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage company. Relationships Rule: Transactions end, Relationships remain Accountability is Personal: Reflection before Projection Service through Knowledge: Great service means great understanding Evolve to Excel: We need to adapt and improve to succeed
Four Leaf Federal Credit Union See Table	Intro APR 6.490 % After Intro: 7.750 % Intro Period: 12 months	$25,000	Learn More More Info
Rates/terms are subject to change. All offers of credit are subject to credit approval. Applicants may be offered credit at higher rates and other terms. Property insurance (including flood insurance, if applicable) is required. HELOCs not offered in Texas. Membership at FourLeaf is required by opening a minimum $5 share account. Rates shown are based on primary residence, minimum initial draw of $25,000 at account opening, monthly payments via automatic transfers from a FourLeaf checking/savings account, and borrower(s) inputs for credit score and Combined Loan-to-Value. If borrower(s) qualifies for an intro rate, the intro APR is fixed for 12 months. After, standard APR is variable based on the U.S. Prime Rate, plus a margin, and is subject to increase. To obtain an intro rate, borrower(s) must meet credit/loan program requirements, including (but not limited to): 1) maximum CLTV of 75%, 2) minimum credit score of 720 3) initial draw of $25,000 and maintain this balance for 12 months, 4) monthly payments via automatic transfers from a FourLeaf checking/savings account, and 5) have not had an intro rate within the past 5 years. Loan amounts over $500,000 are not available for the intro rate. The standard APR is variable based on the U.S. Prime Rate as published in the Wall Street Journal, plus a margin (if applicable), and is subject to increase after consummation. The current standard APR ranges from 7.50% - 18.00% as of 4/16/2025. Not all applicants will qualify for the lowest rate. The minimum floor APR is 3.25% and maximum is 18%. Prime Rate as of 4/16/2025 = 7.50%. Closing costs for the first $500,000 will be paid by FourLeaf but must be repaid by the borrower(s) if the HELOC is closed within first 36 months of account opening. Fees generally range between $500 - $15,000. Borrower(s) will be responsible for mortgage-related taxes and title insurance costs on the line amounts over $500,000. Fees generally range between $500 -$60,000. Tap into your home's equity & access the funds you need with a HELOC Apply online or speak with a specialist No application, origination & appraisal fees on lines up to $500K[3] On average, access funds within 35 days[5]
Achieve Loans See Table	Intro APR 8.750 % After Intro: 8.750 %	$0	Learn More More Info
Home Equity loans are available through our affiliate Achieve Loans (NMLS ID #1810501). Equal Housing Opportunity. Offers may vary and all loan requests are subject to eligibility requirements, application review, loan amount, loan term, income verification, and lender approval. Product terms are subject to change at any time. Offers are a line of credit. Loans are not available to residents of all states and available loan terms/fees may vary by state where offered. Line amounts are between $15,000 and $300,000 and are assigned based on product type, debt-to-income ratio and combined loan-to-value ratio. Minimum 600 credit score applies for debt consolidation requests, minimum 700 applies for cash out requests. Other terms, conditions and restrictions apply. Fixed rate APRs range from 6.74% - 14.75% and are assigned based on underwriting requirements and offer APRs assume automatic payment enrollment which may provide a discount (autopay enrollment is not a condition of loan approval). Example: average HELOC is $57,150 with an APR of 12.75% and estimated monthly payment of $852 for a 10-year loan. 10,15, 20 and 30-year terms available (20 and 30 year terms only available for cash out requests). All terms have a 5-year draw period with the remaining term being a no draw period. Payments are fully amortized during each period and determined on the outstanding principal balance each month. Closing fees range from $750 to $6,685, depending on line amount and state law requirements and typically include origination (3.5% of line amount) and underwriting ($725) fees if allowed by law. Property must be owner-occupied and combined loan-to-value ratio may not exceed 80% for debt consolidation and 85% for cash out requests, including the new loan request. Property insurance is required and flood insurance may be required if the subject property is located in a flood zone. You must pledge your home as collateral. Contact Achieve Loans for further details. Competitive rates, Pre-qualify in minutes Mortgage Advisors standing by to help find the best solution Flexible terms with fast funding Minimum credit score: 640

See More Home Equity Rates →

Note to Western State Bank
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Branches

Western State Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Columbus,Ohio

Western State Bank Locations around zip code 43085

Branch	Distance	Map	View Lobby Hours
Fargo Branch	875.58	A	View Lobby Hours
West Fargo Branch	876.94	B	View Lobby Hours
Western State Bank	1012.00	C	View Lobby Hours
202 Main Street South Branch	1089.38	D	View Lobby Hours
Willow City Branch	1094.12	E	View Lobby Hours
Western State Bank - Granville Branc	1106.28	F	View Lobby Hours
Upham Branch	1114.76	G	View Lobby Hours
Central Arizona Bank Branch	1596.05	H	View Lobby Hours
Chandler, Az Branch	1597.18	I	View Lobby Hours
Casa Grande Branch	1599.27	J	View Lobby Hours
Sun City Branch	1612.00	K	View Lobby Hours

View Branches Nationwide →

Climate Policy and Initiatives

The bank is an aggressive lender to the oil and gas industry and has no climate action plan.

Updated April 1, 2024

Climate Score: D

The bank is an aggressive lender to the oil and gas industry and has no climate action plan.

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Financial Details

Western State Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Western State Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio

Western State Bank	U.S. Bank Average
8.23%	4.63%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2024, Western State Bank had $24,974,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $268,655,000 in equity and $34,797,000 in loans loss reserves. That gives it a Texas Ratio of 8.23%.

Return on Equity

Western State Bank	U.S. Bank Average
14.51%	10.10%

Western State Bank has a Return on Equity of 14.51% versus the BestCashCow average of 10.10%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization

Western State Bank	U.S. Bank Average
11.46%	11.02%

Western State Bank has a Capitalization of 11.46% versus the BestCashCow average of 11.02. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Western State Bank Balance Sheet Analysis

As of December 31, 2024, Western State Bank had assets of $2,344,400,000, loans of $2,069,018,000, and deposits of $2,033,967,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2024

ASSETS
Cash & Balances due from depository institutions	$ 159.81 million
Interest-bearing balances	$ 135.39 million
Total securities	$ 54.75 million
Federal funds sold and reverse repurchase	N.A.
Net loans and leases	$ 2.07 billion
Loan loss allowance	$ 34.80 million
Trading account assets	N.A.
Bank premises and fixed assets	N.A.
Other real estate owned	N.A.
Goodwill and other intangibles	$ 1.08 million
All other assets	$ 16.57 million
Total Assets	$ 2.08 billion

LIABILITIES
Total deposits	$ 2.03 billion
Interest-bearing deposits	$ 1,873.41 million
Deposits held in domestic offices	$ 2.03 billion
% insured (estimated)	79.09%
Federal funds purchased and repurchase agreements	N.A.
Trading liabilities	N.A.
Other borrowed funds	$ 34.50 million
Subordinated debt	N.A.
All other liabilities	$ 27.61 million
Total Liabilities	$ 2.08 billion
Shareholders’ Equity	$ 268.66 million

Summary Income Statement

December 31, 2024

INCOME AND EXPENSES
Total Interest Income	$ 161.13 million
Total Interest Expense	$ 59.54 million
Net interest income	$ 101.59 million
Provision for loan and lease losses	$ 13.23 million
Total non interest income	$ 12.10 million
Total non interest expense	$ 55.99 million
Pre-tax Net Operating Income	$ 26.14 million

Bank Loan Profile^?

The top three loan types in Western State Bank’s loan portfolio are Commercial and Industrial Loans, Commercial Real Estate, and Construction and Development Loans.

Compared to other banks in North Dakota, Western State Bank has a significantly higher percent of Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

	% Loans	% Comparison to Other Banks
		Low	Med	High
1-4 Family Residential Loans	5.10		✓
Multifamily Mortgages	4.41		✓
Credit Card Loans	0.00	✓
Consumer Auto Loans	0.21		✓
Small Business Loans	3.69		✓
Construction and Development Loans	5.21		✓
Commercial Real Estate	15.23		✓
Commercial and Industrial Loans	35.09			✓
Farm Loans	0.87	✓

Customer Reviews for Western State Bank (11)

Jean-Marc

November 10, 2023 |

Just found out after submitting all my personal information:

"Western also allows one free outgoing wire per month."
"External transfers from Western State Bank Online Banking: After 60 days you will have access to External Transfer where you can add up to five external accounts and transfer money back and forth. The limits are $5,000 per day ($10,000 per 30-day period) transferred in and $10,000 per day ($20,000 per 30-day period) transferred out."

Not a good fit if you have a little bit of savings.

Is this review helpful? Yes:2 / No: 0
PhilD

August 1, 2023 |

Western State Bank is an outstanding bank, but like others I found they would not honor online rates in the branch.

Is this review helpful? Yes:0 / No: 0
jeff

January 6, 2023 |

I did not find this rate anywhere. They knew nothing about it at branch in Fargo.

Is this review helpful? Yes:1 / No: 0
TRUMP LIES, WE DIE

November 12, 2020 | | Replies 1

Rate has remained competitive and they are easy to work with.

Is this review helpful? Yes:4 / No: 2

| May 18, 2021

What an idiot name.
Travel USA

February 22, 2020 |

I have had an account with WSB for a couple of years. They have terrific customer service and good yield on moneymarket.
I do recommend WESTERN STATE BANK ( and, no, I do not work there!! )

Is this review helpful? Yes:2 / No: 2

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