Western State Bank

Overview / Commentary
110 4Th St. Se
Devils Lake, ND 58301

Western State Bank is headquartered in Devils Lake and is the 8th largest bank in the state of North Dakota. It is also the 639th largest bank in the nation. It was established in 1902 and as of December of 2019, it had grown to 217 employees at 9 locations. Western State Bank's money market rates are 3X the national average, and it has an A health rating.

Related Posts

Western State Bank High Yield Money Market Available Nationwide - 4/2/2020

Western State Bank's nationally available High Yield Money Market account currently offers 1.85% APY on all balances up to $3 million.

Interest Rate Drop. - 10/7/2019

High Yield Money Market Account at Western State Bank effective October 7, 2019, will earn 2.10% APY.

Western State Bank Rate Drops From 2.50% To 2.25% [Not Posted On MM Bank List] - 8/17/2019

2.25% APY High Yield Money Market Rate drop at Western State Bank landing page. https://apps.westernbanks.com/ Annual Percentage Yield effective 8/12/19 and may change after account is opened.

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Reviews (2)

New Well Account Bank

I closed the checking account I had held for many years. It didn't hold my money, but the money that 4 neighbors and I contributed each month to maintain our well. For a few months we had no financial institution holding our funds, but last week I opened a new checking account for our well funds. It's only used to hold the money and pay the power and write checks for occasional testing or repairs. There isn't a lot of activity on it, and it holds a few thousand dollars. The last repair we had was about 5,000.00 so it is necessary that we have money saved up for this type of thing. Anyway, I wanted to keep the well funds separate from any place where I personally bank (2 banks that are large, nationwide well-known banks.) I chose this small, hometown bank since it offered no-fee checking. I despise dealing with monthly fees or hoops you have to jump through to avoid them. The bank was extremely welcoming and friendly and also attractive inside. I think we'll stay with this bank for many years.

Misleading Waste Of Time

After sending them copies of drivers license, passports, copies of letters to verify residence, they keep coming back with request for more non-relevant information. Not my first rodeo, and I know that I am verifiable, so I smell something bad here. Just a guest, but think they are trolling for info to sell probably. Find a better bank.


Health Grade Components

FDIC Certificate #9123
Year Established1902
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.62%
Return on Equity - YTD15.18%
Annual Interest Income$71.3MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$1.29B$1.10B
LoansQ4 2019vs Q4 2018$1.08B$964.6MM
DepositsQ4 2019vs Q4 2018$1.09B$920.7MM
Equity CapitalQ4 2019vs Q4 2018$135.8MM$121.2MM
Loan Loss AllowanceQ4 2019vs Q4 2018$18.4MM$16.0MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$11.5MM$10.7MM
Real Estate OwnedQ4 2019vs Q4 2018$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Western State Bank Money Market Rates

1.10%-$3mHigh Yield Money Market


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