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1601 22nd Street
West Des Moines, IA 50266

West Bank is headquartered in West Des Moines and is the 7th largest bank in the state of Iowa. It is also the 473rd largest bank in the nation. It was established in 1893 and as of December of 2013, it had grown to 187 employees at 13 locations. West Bank has a A health rating.

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Reviews (1)

Bank Review: West Bank (Iowa)

We opened three "Reward Me" Checking Accounts when the RCA was nationally available with the (4.5%, $50K) offer.  This is a very friendly bank with excellent customer service.  A VP opened our accounts and followed through the entire process, she is also personally available to answer our additional questions.  The no-pin debit card requirement is reasonable (to reduce fraud).  They have recently upgrade their website as well as their BillPay system, the BillPay system is the best set that many top-notvh banks (e.g., Danversbank, Rockland FCU) employ.  The turn-around for their BillPay is pretty short and absolutely reliable. 

They lowered their interest rate and limit several months ago, now (4.0% APY, $30K) and restrict applicants to Iowa residents only.  We moved our fund out of the WB Accounts (to seek higher rates), but still keep the three accounts open in case their rate becomes competitive in the future.


- Ease of account opening

- Generous on debit card transactions (multiple charges with small amounts are perefctly fine!)

- Excellent BillPay feature

- Good customer service


- No starter free checks

- Now limited only to Iowa residents


Data for Q4 2013

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 West Bank had $2.74 million in non-current loans and owned real-estate with $153.61 million in equity and loan loss allowances on hand to cover it. This gives West Bank a Texas Ratio of 1.79% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for West Bank decreased dramatically from 5.22% as of December 31, 2012 to 1.79% as of December 31, 2013, resulting in a positive change of 65.79%.This indicates that the balance sheet and financial strength for West Bank has improved dramatically in recent periods.

Deposit Growth


In the past year, West Bank has increased its total deposits by $28.97 million, resulting in 2.54% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth West Bank has shown is above average.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. West Bank has $1.43 billion in assets with $153.61 million in equity, resulting in a capitalization level of 10.75%, which is above average.

Institution Statistics

FDIC Certificate #15614
Year Established1893
Primary RegulatorFDIC
Assets and Liabilities
Assets$1.43 billion
Loans$980.16 million
Deposits$1.17 billion
Equity Capital$139.82 million
Loan Loss Allowance$13.79 million
Unbacked Noncurrent Loans$2.40 million
Real Estate Owned$344,000
Historic Data - December 2012
Assets$1.44 billion
Equity Capital$135.99 million
Loan Loss Allowance$15.53 million
Unbacked Noncurrent Loans$2.40 million
Real Estate Owned$1.40 million
Profit Margin - Quarterly
Net Interest Margin3.51%
Return on Assets1.3%
Return on Equity13.48%
Interest Income$52.74 million
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West Bank Money Market Rates

0.10%$500k$20mPreferred Money Market
0.10%$500k$20mPreferred Money Market - Business
0.05%$25k-Money Market
0.05%$25k-Money Market - Business

West Bank Checking Account Rates

0.75%-$30kReward Me Checking
0.05%$5m-Income Checking
0.05%$5m-Income Checking - Business
0.01%--Reward Me Checking

West Bank CD Rates

1.00%$10k$100k5 Year CD
0.75%$10k$100k4 Year CD
0.40%$10k$100k3 Year CD
0.30%$10k$100k30 Month CD
0.25%$10k$100k24 Month CD
0.20%$10k$100k18 Month CD
0.15%$10k$100k12 Month CD
0.10%$10k$100k182 Day CD
0.05%$10k$100k90 Day CD

West Bank has 11 locations. Click to view all West Bank locations.