Westfield Bank FSB is headquartered in Westfield Center and is the 23rd largest bank in the state of Ohio. It is also the 840th largest bank in the nation. It was established in 2001 and as of March of 2014, it had grown to 124 employees at 7 locations. Westfield Bank FSB's savings rates are 94% higher than the national average, and it has a A health rating.
I have family that works for another bank, so, I've done all of my personally banking through them my entire life. I was excited to finally start an account with another bank, but was worried about moving my money into another account that I'm unfamiliar with.
The customer service representative at Westfield Bank was able to clearly answer all of my questions (I had to call in a few times to ease my nerve of moving money out of my old bank) and I've never had any trouble filling the requirements to receive 3.5% interest on my rewards checking account.
Although I have a pretty basic account, I still felt that they took the time to listen and care about my concerns. If you like making money just for having money, I highly recommend starting a checking account with Westfield Bank.
I am an Ohio resident but not a US citizen and I was able to successfully complete the application process on CheckingFinder even though I stated that I was a non-US citizen. The next morning I received an email from the bank stating that it is their policy to not open accounts for non-US citizens. I wish they had simply not allowed non-US citizens to go through on the CheckingFinder application so that I don't have to worry now about whether my personal information will be destroyed properly by CheckingFinder or the Bank.
i also opened a Big dream Checking acct with them 2 weeks ago thanks to banking Guy. ( I live in upstate NY) . Easy and professianal, and did all online, except they called me immediately to state that they couldn't read the faxed D.L> I sent it from a dfiferent machine at work and all approved within 2 hours. So far so great!!!
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Westfield Bank FSB had $6.46 million in non-current loans and owned real-estate with $98.45 million in equity and loan loss allowances on hand to cover it. This gives Westfield Bank FSB a Texas Ratio of 6.56% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Westfield Bank FSB decreased slightly from 8.90% as of March 31, 2013 to 6.56% as of March 31, 2014, resulting in a positive change of 26.29%.This indicates that the balance sheet and financial strength for Westfield Bank FSB has improved slightly in recent periods.
In the past year, Westfield Bank FSB has decreased its total deposits by -$2.21 million, resulting in -0.33% 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 Westfield Bank FSB has shown is 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. Westfield Bank FSB has $813.73 million in assets with $98.45 million in equity, resulting in a capitalization level of 12.10%, which is excellent.
|FDIC Certificate #||57077|
|Assets and Liabilities|
|Equity Capital||$90.53 million|
|Loan Loss Allowance||$7.92 million|
|Unbacked Noncurrent Loans||$6.41 million|
|Real Estate Owned||$56,000|
|Historic Data - March 2013|
|Equity Capital||$85.93 million|
|Loan Loss Allowance||$7.58 million|
|Unbacked Noncurrent Loans||$6.41 million|
|Real Estate Owned||$327,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.52%|
|Return on Assets||0.66%|
|Return on Equity||6.05%|
|Interest Income||$7.86 million|
Always verify rates and promotions with the bank or credit union. We are not Westfield Bank FSB, we are a rate comparison website and can not provide official rates or promotions.
|1.01%||-||$25k||Dream Big Savings - Qualifying|
|0.30%||$50k||-||Personal Relationship Savings|
|0.30%||-||-||SEP IRA Savings|
|0.15%||-||-||Dream Big Savings - Non Qualifying|
|0.35%||$50k||-||Business Relationship Money Market|
|0.35%||$50k||-||Business Signature Money Market|
|0.20%||-||-||Escrow Money Market|
|0.10%||-||-||Public Funds Money Market|
|2.01%||-||$15k||Dream Big Checking - Qualifying|
|0.30%||$50k||-||Business ZBA Checking|
|0.15%||-||-||Business Advantage Checking|
|0.05%||-||-||Dream Big Checking - Non Qualifying|
|1.26%||$5k||-||5 Year Time Deposit|
|1.26%||$5k||-||Business 5 Year Time Deposit|
|1.06%||$5k||-||4 Year Time Deposit|
|1.06%||$5k||-||Business 4 Year Time Deposit|
|0.80%||$5k||-||Business 3 Year Time Deposit|
|0.55%||$5k||-||2 Year Time Deposit|
|0.55%||$5k||-||Business 2 Year Time Deposit|
|0.31%||$5k||-||1 Year Time Deposit|
|0.31%||$5k||-||Business 1 Year Time Deposit|
|0.25%||$5k||-||6 Month Time Deposit|
|0.25%||$5k||-||Business 6 Month Time Deposit|
|0.18%||$5k||-||3 Month Time Deposit|
|0.18%||$5k||-||Business 3 Month Time Deposit|
|0.12%||$5k||-||1 Month Time Deposit|
|0.12%||$5k||-||Business 1 Month Time Deposit|
|0.08%||$5k||-||3 Year Time Deposit|
|1.26%||$2k||-||5 Year IRA Time Deposit|
|1.26%||$2k||-||5 Year SEP IRA Time Deposit|
|1.06%||$2k||-||4 Year IRA Time Deposit|
|1.06%||$2k||-||4 Year SEP IRA Time Deposit|
|0.80%||$2k||-||3 Year SEP IRA Time Deposit|
|0.55%||$2k||-||2 Year IRA Time Deposit|
|0.55%||$2k||-||2 Year SEP IRA Time Deposit|
|0.31%||$2k||-||1 Year IRA Time Deposit|
|0.31%||$2k||-||1 Year SEP IRA Time Deposit|
|0.25%||$2k||-||6 Month IRA Time Deposit|
|0.25%||$2k||-||6 Month SEP IRA Time Deposit|
|0.18%||$2k||-||3 Month IRA Time Deposit|
|0.18%||$2k||-||3 Month SEP IRA Time Deposit|
|0.12%||$2k||-||1 Month IRA Time Deposit|
|0.12%||$2k||-||1 Month SEP IRA Time Deposit|
|0.08%||$2k||-||3 Year IRA Time Deposit|
|Westfield Bank FSB Locations|
|Fairlawn Branch||2635 W. Market St||Fairlawn, OH 44333|
|Wooster Branch||343 West Milltown Road||Wooster, OH 44691|
|Medina Branch||4015 Medina Rd||Medina, OH 44256|
|Canton Branch||4580 Stephen Circle NW, Ste 101||Canton, OH 44718|
|Westfield Bank Masonic Branch||4931 Nettleton Road||Medina, OH 44256|
|Brecksville Branch||8751 Brecksville Road||Brecksville, OH 44141|
|Westfield Bank, FSB||Two Park Circle||Westfield Center, OH 44251|