2023 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 $1.76 billion in assets. Customers can open an account at one of its 13 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 9123 |
| Date Established | 1902 |
| Assets | $ 1,761.28 million |
| Loans | $ 1,501.84 million |
| Deposits | $ 1,398.62 million |
| Capital | $ 204.56 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 - March 20, 2023
Your Current Location: Virginia, VA 20146
Bank Offers
Western State Bank Drops Money Market Rate to 1.35%
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 - March 20, 2023
Your Current Location: Virginia, VA 20146
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 - Virginia 30 Year Fixed Mortgage Rates 2023
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: Not lender |
points fees |
Learn More |
Featured - Virginia Home Equity Line Of Credit Rates 2023
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Bethpage Federal Credit Union See Table |
Intro APR
7.240 %
After Intro: 8.250 % Intro Period: 12 months |
$25,000 |
Learn More
More Info |
Third Federal Savings and Loan See Table |
6.990 %
|
$0 |
Learn More
More Info |
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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:
Ashburn,Virginia
Climate Initiatives
Western State Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.
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 |
|---|---|
| 5.43% | 8.03% |
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 September 30, 2022, Western State Bank had $12,684,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $204,564,000 in equity and $28,962,000 in loans loss reserves. That gives it a Texas Ratio of 5.43%.
Return on Equity
| Western State Bank | U.S. Bank Average |
|---|---|
| 20.7% | 10.00% |
Western State Bank has a Return on Equity of 20.7% versus the BestCashCow average of 10.00%. 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 |
|---|---|
| 11.61% | 9.96% |
Western State Bank has a Capitalization of 11.61% versus the BestCashCow average of 9.96. 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 September 30, 2022, Western State Bank had assets of $1,761,280,000, loans of $1,501,839,000, and deposits of $1,398,616,000. 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
September 30, 2022| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 72.98 million |
| Interest-bearing balances | $ 52.06 million |
| Total securities | $ 50.37 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 1,501.84 million |
| Loan loss allowance | $ 28.96 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | N.A. |
| Goodwill and other intangibles | $ 1.44 million |
| All other assets | $ 16.57 million |
| Total Assets | $ 1,459.94 million |
| LIABILITIES | |
|---|---|
| Total deposits | $ 1,398.62 million |
| Interest-bearing deposits | $ 1,220.24 million |
| Deposits held in domestic offices | $ 1,398.62 million |
| % insured (estimated) | 75.94% |
| 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 | $ 1,459.94 million |
| Shareholders’ Equity | $ 301.34 million |
Summary Income Statement
September 30, 2022| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 67.81 million |
| Total Interest Expense | $ 3.85 million |
| Net interest income | $ 63.96 million |
| Provision for loan and lease losses | N.A. |
| Total non interest income | $ 9.01 million |
| Total non interest expense | $ 34.22 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 Construction and Development Loans, 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 | 7.03 | ✓ | ||
| Multifamily Mortgages |
6.07 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.29 | ✓ | ||
| Small Business Loans | 0.00 | ✓ | ||
| Construction and Development Loans | 7.17 | ✓ | ||
| Commercial Real Estate | 20.99 | ✓ | ||
| Commercial and Industrial Loans | 48.34 | ✓ | ||
| Farm Loans | 1.19 | ✓ | ||
Customer Reviews for Western State Bank (9)
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:0 / 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
| Mar 20, 2023
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
polishpolka
December 20, 2019 |
great customer service good rate
Is this review helpful? Yes:2 / No: 1
yodel
September 17, 2019 |
great customer service 2.25% current online high yield account rates dropped from 2.50 thanks to trump
Is this review helpful? Yes:2 / No: 2
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