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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 15st largest bank in the state of Utah. It is also the 386th largest bank in the nation. It was established in 1998 and as of March of 2014, it had grown to 36 employees at 1 location. WEX Bank has a A+ health rating.

Reviews (2)


Wex bank handles the credit for the Marathon gas station that our company uses. They are without question the worst bank I have ever dealt with. If your payment arrives one day late (due to postal delays) you are charged exhorbitant late fees that defy any sense of fairness or logic. Customer service ???? Wex customer service representatives are the worst people I have ever experienced in twenty four years of operating a small business. This banking /credit institution represents everything that is wrong with this country today. I urge anyone who applies for credit for small fleet petroleum services to run away from ANY company that uses Wex for their credit.

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 Q1 2014

Institution Health


Texas Ratio


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 WEX Bank had $7.65 million in non-current loans and owned real-estate with $219.78 million in equity and loan loss allowances on hand to cover it. This gives WEX Bank a Texas Ratio of 3.48% 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 3.32% as of March 31, 2013 to 3.48% as of March 31, 2014, resulting in a negative change of 4.85%. 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 $137.95 million, resulting in 10.09% 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 $1.82 billion in assets with $219.78 million in equity, resulting in a capitalization level of 12.08%, which is excellent.

Institution Statistics

FDIC Certificate #34697
Year Established1998
Primary RegulatorFDIC
Assets and Liabilities
Assets$1.82 billion
Loans$1.43 billion
Deposits$1.51 billion
Equity Capital$210.42 million
Loan Loss Allowance$9.36 million
Unbacked Noncurrent Loans$7.65 million
Real Estate Owned$0
Historic Data - March 2013
Assets$1.64 billion
Equity Capital$193.18 million
Loan Loss Allowance$6.54 million
Unbacked Noncurrent Loans$7.65 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin20.89%
Return on Assets8.4%
Return on Equity70.06%
Interest Income$76.95 million

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