Western State Bank

Overview / Commentary
110 Fourth Street 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 652nd largest bank in the nation. It was established in 1902 and as of September of 2019, it had grown to 214 employees at 9 locations. Western State Bank's money market rates are 4X the national average, and it has an A health rating.

Related Posts

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.

2.50% APY High Yield Money Market [Not Posted on MM Bank List] - 5/15/2019

This was reviewed by Ken back in Feb 2019 but has not been posted on the MM bank list. https://www.depositaccounts.com/banks/western-state-bank/offers/ 2.50% APY High Yield Money Market • No minimum balance • No Monthly Fees • No promotional rate periods • 24/7 online access to your money • $3M max Western State Bank currently offers its High Yield Money Market and two CDs on a nationwide basis.

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Reviews (1)

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.


Health Grade Components

FDIC Certificate #9123
Year Established1902
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.6%
Return on Equity - YTD14.94%
Annual Interest Income$52.5MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$1.24B$1.05B
LoansQ3 2019vs Q3 2018$1.04B$931.7MM
DepositsQ3 2019vs Q3 2018$1.05B$879.5MM
Equity CapitalQ3 2019vs Q3 2018$131.2MM$115.9MM
Loan Loss AllowanceQ3 2019vs Q3 2018$18.0MM$16.1MM
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$9.3MM$10.0MM
Real Estate OwnedQ3 2019vs Q3 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

1.85%--High Yield Money Market


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