West Bank

Overview / Commentary
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 336th largest bank in the nation. It was established in 1893 and as of December of 2023, it had grown to 181 employees at 12 locations. West Bank has an A health rating.

Reviews (2)

Bank Review: West Bank (Iowa)

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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.


- Ease of account opening

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

- Excellent BillPay feature

- Good customer service


- No starter free checks

- Now limited only to Iowa residents

Terrible Bank

I used to use this bank as it provided pretty good interest rate for using the debit card for certain number of times each month for shopping. What I didn't realize at that time was that this was a baiting rate which faded away and dropped significantly to become not attractive at all, at which point I stopped using it.
Since this was a no fee account I just tried to be a loyal customer by still keeping the account open. I haven't received any communication(email/mail/text) from the company, but it silently changed the account policy to begin to charge monthly fee on the account since 2017. After 3 years when I finally thought about checking the account, my account already got robbed ~400. I tried quite some time to work with the company to get some fees back, as the bottomline is that I have never received any communication about this fee. The banker Ian promised to call back that afternoon but never did, and I am very sure he never will until I called him again at the third business day afternoon. It's very obvious that the company just tried to play a delay game so they could charge another monthly fee from my account, to rob every penny possible from a loyal customer!
If you could, avoid using a bank like this. It just treats every customer like a cash machine and tries to rob every penny possible from you!


Health Grade Components

FDIC Certificate #15614
Year Established1893
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.82%
Return on Equity - YTD9.21%
Annual Interest Income$160.3MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$3.82B$3.61B
LoansQ4 2023vs Q4 2022$2.9B$2.72B
DepositsQ4 2023vs Q4 2022$2.98B$2.89B
Equity CapitalQ4 2023vs Q4 2022$335.4MM$323.5MM
Loan Loss AllowanceQ4 2023vs Q4 2022$28.3MM$25.5MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$296K$322K
Real Estate OwnedQ4 2023vs Q4 2022$0$0

Rates for West Bank are currently being reviewed.



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