Western State Bank is headquartered in DEVILS LAKE and is the 8th largest bank in the state of North Dakota. It is also the 532nd largest bank in the nation. It was established in 1902 and as of June of 2024, it had grown to 295 employees at 10 locations. Western State Bank's money market rates are 10X the national average, and it has an A health rating.
Related Posts
10/1 - Western State Bank High Yield Money Market Slides To 4.50% APY
8/1 - Western State Bank High Yield Money Market Plummets To 4.85% APY From 5.15% APY
7/3 - Western State Bank Money Market APY Zooms Upward
7/2 - Western State Bank Online Money Market Rockets To 5.15% APY
4/5 - Western State Bank Increases Online Money Market To 4.55% APY
2/9 - Western State Bank Raises High Yield Money Market Account To 4.40% APY
2/9 - Rate Increase On HYMM
1/10 - Western State Bank Substantially Increases High Yield Money Market Rate
8/17/19 - Western State Bank Rate Drops From 2.50% To 2.25% [Not Posted On MM Bank List]
5/15/19 - 2.50% APY High Yield Money Market [Not Posted on MM Bank List]
2/20/19 - Western State Bank High Yield Money Market Earns 2.50% APY
2/14/19 - 2.50% Money Market
10/31/16 - $100 Checking/Direct Deposit Bonus (AZ And ND)
5/16/13 - $100 Checking Account Bonus at Western State Bank in AZ and ND
Nothing Short Of A Terrific Experience
Opened a savings account and certificate of deposit last year. The account opening process went smoothly and the experience was terrific, with questions and concerns quickly answered by a friendly person whenever I picked up the phone or sent an email. Held off leaving a review to see how the first-year experience went. One year later, I still love this bank - no complaints whatsoever. We'll see how well their excellent rates hold up against competitors in the coming year, but overall am extremely pleased with this banking relationship.
BANK IS NOT RECOMMENDED
I applied for a savings account online with this particular financial institution and was, ultimately, denied without a reason or explanation of why. It refused to release the reason(s) for denying the account application. This particular financial institution has some of the most ignorant and incompetent individuals working there. I would NOT recommend this particular financial institution for any type of financial products or services.
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 9123 |
| Year Established | 1902 |
| Employees | 295 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.63% |
| Return on Equity - YTD | 14.73% |
| Annual Interest Income | $78.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $2.23B$1.97B |
| Loans | Q2 2024vs Q2 2023 | $2.01B$1.76B |
| Deposits | Q2 2024vs Q2 2023 | $1.93B$1.68B |
| Equity Capital | Q2 2024vs Q2 2023 | $251.4MM$223MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $34.7MM$30.7MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $14MM$12.1MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |
