West Shore Bank

Overview / Commentary

www.westshorebank.com

231-845-3500

201 West Loomis Street
Ludington, MI 49431-0627

West Shore Bank is headquartered in Ludington and is the 26^th largest bank in the state of Michigan. It is also the 1,495^th largest bank in the nation. It was established in 1898 and as of December of 2020, it had grown to 127 employees at 9 locations. West Shore Bank has an A health rating.

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Health

Data as of Q4 2020

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Health Grade Components

Overall
FDIC Certificate #	14929
Year Established	1898
Employees	127
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.74%
Return on Equity - YTD	8.4%
Annual Interest Income	$19.2MM

Assets and Liabilities
Assets	Q4 2020vs Q4 2019	$557.7MM$462.4MM
Loans	Q4 2020vs Q4 2019	$366.0MM$345.0MM
Deposits	Q4 2020vs Q4 2019	$479.9MM$374.1MM
Equity Capital	Q4 2020vs Q4 2019	$46.9MM$43.9MM
Loan Loss Allowance	Q4 2020vs Q4 2019	$4.6MM$2.9MM
Unbacked Noncurrent Loans	Q4 2020vs Q4 2019	$2.9MM$2.9MM
Real Estate Owned	Q4 2020vs Q4 2019	$260.00K$360.00K

Rates

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West Shore Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
1.10%	$500	-	60 Month CD
1.10%	$500	-	60 Month Relationship CD
0.90%	$500	-	48 Month CD
0.90%	$500	-	48 Month Relationship CD
0.70%	$500	-	36 Month CD
0.70%	$500	-	36 Month Relationship CD
0.50%	$500	-	24 Month CD
0.40%	$500	-	18 Month CD
0.30%	$500	-	12 Month CD
0.20%	$500	-	6 Month CD
0.10%	$500	-	3 Month CD

West Shore Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
0.90%	$500	-	48 Month Fixed Rate IRA
0.70%	$500	-	36 Month Fixed Rate IRA
0.50%	$500	-	24 Month Fixed Rate IRA
0.30%	$500	-	12 Month Fixed Rate IRA

Locations

West Shore Bank Locations
Scottville Branch	107-109 West State Street	Scottville, MI 49454
West Shore Bank	201 West Loomis Street	Ludington, MI 49431
Cypress Street Branch	306 Cypress Street	Manistee, MI 49660
Hart Branch	4070 West Polk Road	Hart, MI 49420
Manistee Branch	415 Parkdale	Manistee, MI 49660
Ludington Branch	5725 West U.S. 10	Pere Marquette Township, MI 49431
Frankfort Branch	501 Main Street	Frankfort, MI 49635
Onekama Branch	4945 Main Street	Onekama, MI 49675
Traverse City Branch	627 W. Front Street	Traverse City, MI 49684

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