Western State Bank is headquartered in Devils Lake and is the 8th largest bank in the state of North Dakota. It is also the 664th largest bank in the nation. It was established in 1902 and as of June of 2019, it had grown to 205 employees at 9 locations. Western State Bank's money market rates are 5X the national average, and it has an A health rating.
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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.
Data as of Q2 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 9123 |
| Year Established | 1902 |
| Employees | 205 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.46% |
| Return on Equity - YTD | 13.55% |
| Annual Interest Income | $33.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2019vs Q2 2018 | $1.20B$1.02B |
| Loans | Q2 2019vs Q2 2018 | $1.03B$915.3MM |
| Deposits | Q2 2019vs Q2 2018 | $1.03B$863.3MM |
| Equity Capital | Q2 2019vs Q2 2018 | $125.8MM$112.4MM |
| Loan Loss Allowance | Q2 2019vs Q2 2018 | $18.0MM$15.3MM |
| Unbacked Noncurrent Loans | Q2 2019vs Q2 2018 | $10.7MM$9.9MM |
| Real Estate Owned | Q2 2019vs Q2 2018 | $0$0 |
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.
Western State Bank Rate Drops From 2.50% To 2.25% [Not Posted On MM Bank List]
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.
Always verify rates and promotions with the bank or credit union. We are not Western State Bank; we are a rate comparison website and cannot provide official rates or promotions.
* 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.25% | - | - | High Yield Money Market |
