Western State Bank is headquartered in DEVILS LAKE and is the 7th largest bank in the state of North Dakota. It is also the 508th largest bank in the nation. It was established in 1902 and as of March of 2025, it had grown to 291 employees at 10 locations. Western State Bank's money market rates are 9X the national average, and it has an A health rating.
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 Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 9123 |
| Year Established | 1902 |
| Employees | 291 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.44% |
| Return on Equity - YTD | 12.61% |
| Annual Interest Income | $41.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $2.44B$2.23B |
| Loans | Q1 2025vs Q1 2024 | $2.08B$1.95B |
| Deposits | Q1 2025vs Q1 2024 | $2.13B$1.94B |
| Equity Capital | Q1 2025vs Q1 2024 | $276.6MM$244.6MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $37.1MM$33.5MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $22.6MM$11.5MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$750K |
