West Shore Bank

West Shore Bank Locations
201 West Loomis Street
Ludington, MI 49431
(888) 295-4373
www.westshorebank.com

West Shore Bank is headquartered in Ludington and is the 31st largest bank in the state of Michigan. It is also the 1,893rd largest bank in the nation. It was established in 1898 and as of March of 2012, it had grown to 89 employees at 8 locations. West Shore Bank has a 4-star health rating.

West Shore Bank Routing Number: 072408290



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See Rates for: CD | IRA

West Shore Bank CD Rates

ApyMinMaxProduct
1.56%$500-48 Month Special CD
1.56%$500-48 Month Relationship CD
1.56%$500-48 Month Plus CD
1.56%$500-48 Month Horizon Checking CD
1.31%$500-48 Month CD
1.26%$500-36 Month Special CD
1.26%$500-36 Month Relationship CD
1.26%$500-36 Month Plus CD
1.26%$500-36 Month Horizon Checking CD
1.00%$500-36 Month CD
1.00%$500-24 Month Special CD
1.00%$500-24 Month Relationship CD
1.00%$500-24 Month Plus CD
1.00%$500-24 Month Horizon Checking CD
0.85%$500-18 Month Special CD
0.85%$500-18 Month Relationship CD
0.85%$500-18 Month Plus CD
0.85%$500-18 Month Horizon Checking CD
0.75%$500-24 Month CD
0.70%$500-12 Month Special CD
0.70%$500-12 Month Relationship CD
0.70%$500-12 Month Plus CD
0.70%$500-12 Month Horizon Checking CD
0.60%$500-18 Month CD
0.55%$500-6 Month Special CD
0.55%$500-6 Month Relationshiip CD
0.55%$500-6 Month Plus CD
0.55%$500-6 Month Horizon Checking CD
0.45%$500-12 Month CD
0.45%$500-3 Month Special CD
0.45%$500-3 Month Relationship CD
0.45%$500-3 Month Plus CD
0.45%$500-3 Month Horizon Checking CD
0.30%$500-6 Month CD
0.20%$500-3 Month CD

West Shore Bank IRA Rates

ApyMinMaxProduct
1.56%$500-48 Month Plus IRA
1.56%$500-48 Month Horizon Checking IRA
1.31%$500-48 Month Fixed Rate IRA
1.26%$500-36 Month Plus IRA
1.26%$500-36 Month Horizon Checking IRA
1.00%$500-24 Month Plus IRA
1.00%$500-24 Month Horizon Checking IRA
1.00%$500-36 Month Fixed Rate IRA
0.75%$500-24 Month Fixed Rate IRA
0.70%$500-12 Month Plus IRA
0.70%$500-12 Month Horizon Checking IRA
0.45%$500-12 Month Fixed Rate IRA
0.15%$100-24 Month Variable IRA
0.15%$100-24 Month Horizon Checking Variable IRA
0.15%$100-24 Month Plus Variable IRA

Rates updated: 5/27/2012 * Not all products updated

Data for Q1 2012


Institution Statistics


West Shore Bank
FDIC Certificate #14929
BankRate ReportView
Year Established1898
Employees89
Primary RegulatorFDIC

Assets and Liabilities

Assets$347.34 million
Loans$216.61 million
Deposits$268.60 million
Equity Capital$31.24 million
Loan Loss Allowance$2.96 million
Unbacked Noncurrent Loans$3.83 million
Real Estate Owned$1.40 million

Historic Data - March 2011

Assets$332.86 million
Equity Capital$30.05 million
Loan Loss Allowance$2.60 million
Unbacked Noncurrent Loans$4.48 million
Real Estate Owned$1.07 million

Profit Margin - Quarterly

Net Interest Margin3.77%
Return on Assets0.68%
Return on Equity7.53%
Interest Income$3.77 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio3
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 March 31, 2012 West Shore Bank had $5.23 million in non-current loans and owned real-estate with $34.2 million in equity and loan loss allowances on hand to cover it. This gives West Shore Bank a Texas Ratio of 15.28% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for West Shore Bank held steady from 17.00% as of March 31, 2011 to 15.28% as of March 31, 2012, resulting in a positive change of 10.08%.This indicates that the balance sheet and financial strength for West Shore Bank has held steady in recent periods.
Deposit Growth5
In the past year, West Shore Bank has increased its total deposits by $17.1 million, resulting in 6.8% 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 Shore Bank has shown is excellent.
Capitalization3
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 Shore Bank has $347.34 million in assets with $34.2 million in equity, resulting in a capitalization level of 9.85%, which is average.
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