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Overview / Commentary
7090 South Union Park Avenue, Suite 350
Midvale, UT 84047

WEX Bank is headquartered in Midvale and is the 16st largest bank in the state of Utah. It is also the 432nd largest bank in the nation. It was established in 1998 and as of December of 2013, it had grown to 36 employees at 1 location. WEX Bank has a A+ health rating.

Reviews (1)

Overall Service

This is the worst bank I have ever dealt with. They run the subsidiary my university uses for refunds. They charge for virtually every little thing, the rates are not low at all, some procedures are archaic and there is a lot of red tape, and the customer service representatives I have spoken to are rude normally. I cannot wait to graduate so I do not have to deal with this bank ever again.


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 WEX Bank had $5.62 million in non-current loans and owned real-estate with $209.15 million in equity and loan loss allowances on hand to cover it. This gives WEX Bank a Texas Ratio of 2.69% 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 WEX Bank experienced no significant changes from 2.90% as of December 31, 2012 to 2.69% as of December 31, 2013, resulting in a positive change of 7.26%.This indicates that the balance sheet and financial strength for WEX Bank has had no significant changes in recent periods.

Deposit Growth


In the past year, WEX Bank has increased its total deposits by $211.2 million, resulting in 18.55% 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 WEX Bank has shown is excellent.



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. WEX Bank has $1.62 billion in assets with $209.15 million in equity, resulting in a capitalization level of 12.88%, which is excellent.

Institution Statistics

FDIC Certificate #34697
Year Established1998
Primary RegulatorFDIC
Assets and Liabilities
Assets$1.62 billion
Loans$1.23 billion
Deposits$1.35 billion
Equity Capital$202.22 million
Loan Loss Allowance$6.93 million
Unbacked Noncurrent Loans$5.62 million
Real Estate Owned$0
Historic Data - December 2012
Assets$1.43 billion
Equity Capital$186.19 million
Loan Loss Allowance$8.64 million
Unbacked Noncurrent Loans$5.62 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin21.44%
Return on Assets9.76%
Return on Equity79.78%
Interest Income$303.52 million

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WEX Bank Locations
Wex Bank7090 South Union Park Avenue, Suite 350Midvale, UT 84047