3 star ratingAverage User Rating:
3 star rating based on 2 reviews.

Westbound Bank

Westbound Bank Locations
655 W. Grand Parkway South
Katy, TX 77494
713-554-7615
www.westboundbank.com



Westbound Bank is headquartered in Katy and is the 305th largest bank in the state of Texas. It is also the 3,946th largest bank in the nation. It was established in 2007 and as of September of 2011, it had grown to 36 employees at 3 locations. Westbound Bank has a 3-star health rating.

Westbound Bank Routing Number: 113025480

Related Posts

Free Checking Accounts at Westbound Bank in Houston - 5/10/2009

Update 3/29/2011: Various free checking accounts have replaced the reward checking accounts (the Smart Checking) for new accounts.



See Rates for: Checking | Savings | Money Market | CD | IRA

Westbound Bank Checking Account Rates

ApyMinMaxProduct
0.20%$1,500-Performance Interest Checking
0.10%$2k-50+ FREE Interest Checking
0.10%--Direct Free Checking
0.10%$2,500-Business IOLTA Account
0.10%--Business Interest Checking

Westbound Bank Savings Account Rates

ApyMinMaxProduct
0.10%$300-Classic Savings

Westbound Bank Money Market Rates

ApyMinMaxProduct
0.50%$95k-Classic Money Market
0.50%$95k-Westbound Business Advantage

Westbound Bank CD Rates

ApyMinMaxProduct
1.46%$1k$100k60 Month CD
1.46%$1k$100kBusiness 60 Month CD
1.36%$1k$100k48 Month CD
1.36%$1k$100kBusiness 48 Month CD
1.26%$1k$100k36 Month CD
1.26%$1k$100kBusiness 36 Month CD
1.00%$1k$100k30 Month CD
1.00%$1k$100kBusiness 30 Month CD
0.90%$1k$100k24 Month CD
0.90%$1k$100kBusiness 24 Month CD
0.70%$1k$100k18 Month CD
0.70%$1k$100kBusiness 18 Month CD
0.60%$1k$100k12 Month CD
0.60%$1k$100kBusiness 12 Month CD
0.20%$1k-180 Day CD
0.20%$1k-Business 180 Day CD
0.10%$1k-90 Day CD
0.10%$1k-Business 90 Day CD
0.05%$1k-30 Day CD
0.05%$1k-60 Day CD
0.05%$1k-Business 30 Day CD
0.05%$1k-Business 60 Day CD

Westbound Bank IRA Rates

ApyMinMaxProduct
1.46%$500$100k60 Month IRA
1.46%$500$100k60 Month Roth IRA
1.36%$500$100k48 Month IRA
1.36%$500$100k48 Month Roth IRA
1.26%$500$100k36 Month IRA
1.26%$500$100k36 Month Roth IRA
0.90%$500$100k24 Month IRA
0.90%$500$100k24 Month Roth IRA
0.60%$500$100k12 Month IRA
0.60%$500$100k12 Month Roth IRA

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


Westbound Bank
FDIC Certificate #58417
BankRate ReportView
Year Established2007
Employees36
Primary RegulatorFDIC

Assets and Liabilities

Assets$144.10 million
Loans$86.80 million
Deposits$115.01 million
Equity Capital$19.11 million
Loan Loss Allowance$2.56 million
Unbacked Noncurrent Loans$830,000
Real Estate Owned$10.04 million

Historic Data - September 2010

Assets$158.79 million
Equity Capital$20.84 million
Loan Loss Allowance$1.68 million
Unbacked Noncurrent Loans$8.16 million
Real Estate Owned$3.52 million

Profit Margin - Quarterly

Net Interest Margin3.81%
Return on Assets-1.19%
Return on Equity-9.1%
Interest Income$4.65 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio2
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 Westbound Bank had $10.87 million in non-current loans and owned real-estate with $21.67 million in equity and loan loss allowances on hand to cover it. This gives Westbound Bank a Texas Ratio of 50.16% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Westbound Bank held steady from 51.89% as of September 30, 2010 to 50.16% as of September 30, 2011, resulting in a positive change of 3.33%.This indicates that the balance sheet and financial strength for Westbound Bank has held steady in recent periods.
Deposit Growth1
In the past year, Westbound Bank has decreased its total deposits by -$11.4 million, resulting in -9.02% 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 Westbound Bank has shown is poor.
Capitalization5
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. Westbound Bank has $144.1 million in assets with $21.67 million in equity, resulting in a capitalization level of 15.04%, which is excellent.
Write Review

Great Friendly Customer Oriented Bank
5 stars - rewardntx - Wednesday, December 29, 2010 - 4:51 PM

Opened both a personal and commercial account.

Easy and friendly staff, felt like they really care about my relationship. They now know my name, whenever I do walk into the branch, which is not often.

They have all the latest electronic banking, including Remote Deposit banking.

I think they call it Remote Deposit Capture, which allows a business, such as mine, to make deposits of Checks from my office using a computer and a simple scanner. The deposits show up in my account the same day. This sames me time (which means money) for a small fee. Also, I don't have to send an employee to the bank.

They have some of the best rates in town on loans and deposits.

They also offer Small Business Administration loans, which I am applying for in the Houston area.

I wish my former "BIG" Bank would catch a clue from these local community banker guys.

I don't need a bank branch on every corner or even near me, as the remote deposit allows me to conduct all my banking business thru it or online. Since I rarely need cash in my business, this is a great option.

I hated waiting in those long lines at Big Bank to make a simple check deposit.

The only minor drawback is that they always ask for identification when I conduct large transactions, but I guess that is for my safety and all the governmental regulations.

Thanks Westbound Bank!

 

4

You Got Me Caught Me Looking Westbound Business Advantage And The Classic Money Market One Could
1 stars - Anonymous - Tuesday, December 1, 2009 - 6:09 AM

You got me Caught me looking Westbound Business Advantage and the Classic Money Market one could only wish

1