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West Shore Bank

Overview / Commentary
201 West Loomis Street
Ludington, MI 49431

West Shore Bank is headquartered in Ludington and is the 29th largest bank in the state of Michigan. It is also the 1,555th largest bank in the nation. It was established in 1898 and as of March of 2019, it had grown to 121 employees at 9 locations. West Shore Bank has an A health rating.


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Health Grade Components

FDIC Certificate #14929
Year Established1898
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.66%
Return on Equity - YTD7.4%
Annual Interest Income$4.6MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$459.4MM$434.9MM
LoansQ1 2019vs Q1 2018$320.3MM$296.9MM
DepositsQ1 2019vs Q1 2018$363.8MM$334.0MM
Equity CapitalQ1 2019vs Q1 2018$41.2MM$37.4MM
Loan Loss AllowanceQ1 2019vs Q1 2018$3.0MM$3.2MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$1.9MM$1.8MM
Real Estate OwnedQ1 2019vs Q1 2018$492.00K$341.00K
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West Shore Bank CD Rates

2.02%$500-60 Month Relationship CD
1.76%$500-48 Month Relationship CD
1.76%$500-60 Month CD
1.51%$500-48 Month CD
1.51%$500-36 Month Relationship CD
1.26%$500-36 Month CD
1.00%$500-24 Month CD
0.75%$500-18 Month CD
0.50%$500-12 Month CD
0.25%$500-6 Month CD
0.15%$500-3 Month CD

West Shore Bank IRA Rates

1.51%$500-48 Month Fixed Rate IRA
1.26%$500-36 Month Fixed Rate IRA
1.00%$500-24 Month Fixed Rate IRA
0.50%$500-12 Month Fixed Rate IRA

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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