Average User Rating:
4 star rating based on 1 review.

West Bank

P.O. Box 65020
West Des Moines, IA 50265
800-810-2301
www.westbankiowa.com

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West Bank is headquartered in West Des Moines and is the 8^th largest bank in the state of Iowa. It is also the 545^th largest bank in the nation. It was established in 1893 and as of September of 2011, it had grown to 175 employees at 12 locations. West Bank has a 4-star health rating.

West Bank Routing Number: 073903354

West Bank Iowa 2% As Of 11/25/11; Was 3% (Forum) - 11/15/2011

West Bank Iowa notified customers of rate change in advance via email: Courtesy Notice about your Reward Me Checking Account Beginning November 25, 2011, when you qualify the interest rate paid for your Reward Me Checking account will be 2.0% APY* on ba

West Bank Iowa Reward Me Checking Rate Slashed (Forum) - 7/19/2010

Thank you for being a Reward Me Checking customer! Beginning July 29, 2010, the interest rate paid for your Reward Me Checking account will be 3.0% APY* on balances up to $30,000 and 0.50% APY* on balances exceeding $30,000. We hope you agree this rat

West Bank Reward Checking Rate Reduction (Forum) - 7/14/2010

Knew it was too good to last. They just lowered to 3% from 4% and 0.5% for money over the cap ($30k) from previous 1%. Still worth it, but sad to see a 25% cut in that "fun money" per month. Effective July 29.

More SmartyPig Details Released in West Bank's 1st Quarter Results - 5/1/2010

West Bancorporation, the parent of West Bank, issued its 1st quarter results on Friday. West Bank currently holds the deposits of the SmartyPig online savings accounts. When 4th quarter 2009 results ...

2009

5/28 - Update on SmartyPig's High Yield Savings Account

2008

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See Rates for: Checking | Money Market | CD

West Bank Checking Account Rates

Apy	Min	Max	Product
2.00%^†	-	$30k	Reward Me Checking
0.25%^†	$1m	-	Income Checking
0.25%^†	$1m	-	Income Checking - Business

West Bank Money Market Rates

Apy	Min	Max	Product
0.30%^†	$1m	$20m	Preferred Money Market
0.30%^†	$1m	$20m	Preferred Money Market - Business
0.20%^†	$100k	-	Money Market
0.20%^†	$100k	-	Money Market - Business

West Bank CD Rates

Apy	Min	Max	Product
1.50%^†	$10k	$100k	5 Year CD
1.00%^†	$10k	$100k	4 Year CD
0.65%^†	$10k	$100k	3 Year CD
0.50%^†	$10k	$100k	30 Month CD
0.45%^†	$10k	$100k	24 Month CD
0.35%^†	$10k	$100k	18 Month CD
0.30%^†	$10k	$100k	12 Month CD
0.20%^†	$10k	$100k	182 Day CD
0.10%^†	$10k	$100k	90 Day CD

Rates updated: 2/10/2012

Data for Q3 2011

Institution Statistics

West Bank
FDIC Certificate #	15614
BankRate Report	View
Year Established	1893
Employees	175
Primary Regulator	FDIC
Assets and Liabilities
Assets	$1.21 billion
Loans	$850.56 million
Deposits	$920.12 million
Equity Capital	$127.10 million
Loan Loss Allowance	$17.48 million
Unbacked Noncurrent Loans	$6.05 million
Real Estate Owned	$4.21 million
Historic Data - September 2010
Assets	$1.34 billion
Equity Capital	$150.42 million
Loan Loss Allowance	$19.09 million
Unbacked Noncurrent Loans	$11.12 million
Real Estate Owned	$10.19 million
Profit Margin - Quarterly
Net Interest Margin	3.66%
Return on Assets	1.41%
Return on Equity	12.66%
Interest Income	$40.24 million

Institution Health

Overall Score:

4 out of 5

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 September 30, 2011 West Bank had $10.26 million in non-current loans and owned real-estate with $144.58 million in equity and loan loss allowances on hand to cover it. This gives West Bank a Texas Ratio of 7.09% 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 significantly from 12.65% as of September 30, 2010 to 7.09% as of September 30, 2011, resulting in a positive change of 43.92%.This indicates that the balance sheet and financial strength for West Bank has improved significantly in recent periods.
Deposit Growth
In the past year, West Bank has decreased its total deposits by -$115.79 million, resulting in -11.18% 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 poor.
Capitalization
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 $1.21 billion in assets with $144.58 million in equity, resulting in a capitalization level of 11.91%, which is above average.

Bank Review: West Bank (Iowa)
4 stars

- 51hh - Friday, June 18, 2010 - 5:38 PM

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.

Pros:

- Ease of account opening

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

- Excellent BillPay feature

- Good customer service

Cons:

- No starter free checks

- Now limited only to Iowa residents

West Bank

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