Western State Bank


Overview / Commentary
701-662-4936
110 Fourth Street Se
Devils Lake, ND 58301

Western State Bank is headquartered in Devils Lake and is the 9th largest bank in the state of North Dakota. It is also the 713th largest bank in the nation. It was established in 1902 and as of December of 2018, it had grown to 202 employees at 8 locations. Western State Bank's money market rates are 6X the national average, and it has an A health rating.

Related Posts

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.

Western State Bank High Yield Money Market Earns 2.50% APY - 2/20/2019

Western State Bank is offering its High Yield Money Market (2.50% APY, up to $3 million) nationwide. There is no minimum balance or deposit requirement.

2.50% Money Market - 2/14/2019

I just saw their ad for a 2.50% MM. It looks more like a savings account, as there are no checks or debit cards. No minimum, $ 3MM cap. It appears that the account can be opened on-line. Branches in North Dakota and the Phoenix area. Link here: https://apps.westernbanks.com/

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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

Health Grade Components

Overall
FDIC Certificate #9123
Year Established1902
Employees202
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.83%
Return on Equity - YTD16.96%
Annual Interest Income$63.8MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$1.10B$1.04B
LoansQ4 2018vs Q4 2017$964.6MM$898.0MM
DepositsQ4 2018vs Q4 2017$920.7MM$914.2MM
Equity CapitalQ4 2018vs Q4 2017$121.2MM$105.0MM
Loan Loss AllowanceQ4 2018vs Q4 2017$16.0MM$14.4MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$10.7MM$8.3MM
Real Estate OwnedQ4 2018vs Q4 2017$0$0
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

2.50% APY High Yield Money Market [Not Posted on MM Bank List]

enduser   |  
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.

Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%-$3mHigh Yield Money Market
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