West Shore Bank


Overview / Commentary
231-845-3500
201 West Loomis Street
Ludington, MI 49431-0627

West Shore Bank is headquartered in Ludington and is the 26th largest bank in the state of Michigan. It is also the 1,495th 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

Health Grade Components

Overall
FDIC Certificate #14929
Year Established1898
Employees127
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.74%
Return on Equity - YTD8.4%
Annual Interest Income$19.2MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$557.7MM$462.4MM
LoansQ4 2020vs Q4 2019$366.0MM$345.0MM
DepositsQ4 2020vs Q4 2019$479.9MM$374.1MM
Equity CapitalQ4 2020vs Q4 2019$46.9MM$43.9MM
Loan Loss AllowanceQ4 2020vs Q4 2019$4.6MM$2.9MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$2.9MM$2.9MM
Real Estate OwnedQ4 2020vs Q4 2019$260.00K$360.00K
Rates
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West Shore Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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 Branch107-109 West State StreetScottville, MI 49454
West Shore Bank201 West Loomis StreetLudington, MI 49431
Cypress Street Branch306 Cypress StreetManistee, MI 49660
Hart Branch4070 West Polk RoadHart, MI 49420
Manistee Branch415 ParkdaleManistee, MI 49660
Ludington Branch5725 West U.S. 10Pere Marquette Township, MI 49431
Frankfort Branch501 Main StreetFrankfort, MI 49635
Onekama Branch4945 Main StreetOnekama, MI 49675
Traverse City Branch627 W. Front StreetTraverse City, MI 49684

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