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Overview / Commentary
800-810-2301
1601 22nd Street
West Des Moines, IA 50266

West Bank is headquartered in West Des Moines and is the 5th largest bank in the state of Iowa. It is also the 404th largest bank in the nation. It was established in 1893 and as of March of 2018, it had grown to 163 employees at 12 locations. West Bank's CD rates are 67% higher than the national average, and it has an A health rating.

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Reviews (1)

Bank Review: West Bank (Iowa)

Posted by: 51hh | Jun 18, 2010

We opened three "Reward Me" Checking Accounts when the RCA was nationally available with the (4.5%, $50K) offer.  This is a very friendly bank with excellent customer service.  A VP opened our accounts and followed through the entire process, she is also personally available to answer our additional questions.  The no-pin debit card requirement is reasonable (to reduce fraud).  They have recently upgrade their website as well as their BillPay system, the BillPay system is the best set that many top-notvh banks (e.g., Danversbank, Rockland FCU) employ.  The turn-around for their BillPay is pretty short and absolutely reliable. 

They lowered their interest rate and limit several months ago, now (4.0% APY, $30K) and restrict applicants to Iowa residents only.  We moved our fund out of the WB Accounts (to seek higher rates), but still keep the three accounts open in case their rate becomes competitive in the future.

Pros:

- Ease of account opening

- Generous on debit card transactions (multiple charges with small amounts are perefctly fine!)

- Excellent BillPay feature

- Good customer service

Cons:

- No starter free checks

- Now limited only to Iowa residents



Health

Health Grade Components

Overall
FDIC Certificate #15614
Year Established1893
Employees163
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.5%
Return on Equity - YTD14.56%
Annual Interest Income$19.7MM
Assets and Liabilities
AssetsQ1 2018vs Q1 2017$2.09B$1.85B
LoansQ1 2018vs Q1 2017$1.49B$1.43B
DepositsQ1 2018vs Q1 2017$1.74B$1.53B
Equity CapitalQ1 2018vs Q1 2017$215.0MM$171.8MM
Loan Loss AllowanceQ1 2018vs Q1 2017$16.5MM$16.4MM
Unbacked Noncurrent LoansQ1 2018vs Q1 2017$2.1MM$920.00K
Real Estate OwnedQ1 2018vs Q1 2017$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not West Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

West Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$250k*- Savings
OTHER TIERS: 0.05% Up to $25k | 0.10% $25k - $50k | 0.15% $50k - $100k | 0.20% $100k - $250k

West Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%*$1m*-Money Market
OTHER TIERS: 0.05% Up to $10k | 0.20% $10k - $100k | 0.30% $100k - $500k | 0.35% $500k - $1mm

West Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%*-$30kReward Me Checking
OTHER TIERS: 0.05% $30k+

West Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%*$25k*-60 Month CD
OTHER TIERS: 2.25% $1k - $25k
2.25%*$25k*-48 Month CD
OTHER TIERS: 2.00% $1k - $25k
2.00%*$25k*-36 Month CD
OTHER TIERS: 1.75% $1k - $25k
1.75%*$25k*-30 Month CD
OTHER TIERS: 1.50% $1k - $25k
1.65%*$25k*-24 Month CD
OTHER TIERS: 1.40% $1k - $25k
1.55%*$25k*-18 Month CD
OTHER TIERS: 1.30% $1k - $25k
1.50%*$25k*-12 Month CD
OTHER TIERS: 1.25% $1k - $25k
1.00%*$25k*-6 Months CD
OTHER TIERS: 0.75% $1k - $25k
0.50%*$25k*-3 Months CD
OTHER TIERS: 0.25% $1k - $25k
Locations

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