Western State Bank


Western State Bank is an FDIC insured institution headquartered at 110 4th St Se, Devils Lake, ND 58301.
It was founded in 1902 and has approximately $2 billion in assets. Customers can open an account at one of its 13 branches.

Deposit Rates - May 21, 2024

MM RATES APY MIN
Money Market
5.15% $0 Compare

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 9123
Date Established 1902
Assets $ 2.17 billion
Loans $ 1,912.82 million
Deposits $ 1,880.04 million
Capital $ 236.73 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 151.56 million
Interest-bearing balances $ 105.66 million
Total securities $ 51.20 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 1,912.82 million
Loan loss allowance $ 32.40 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 1.19 million
All other assets $ 16.57 million
     Total Assets $ 1,928.87 million

LIABILITIES
Total deposits $ 1,880.04 million
      Interest-bearing deposits $ 1,711.85 million
      Deposits held in domestic offices $ 1,880.04 million
      % insured (estimated) 77.97%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 34.50 million
Subordinated debt N.A.
All other liabilities $ 27.61 millionn
      Total Liabilities $ 1,928.87 million
      Shareholders’ Equity $ 236.73 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 131.48 million
Total Interest Expense $ 39.78 million
Net interest income $ 91.70 million
Provision for loan and lease losses $ 7.08 million
Total non interest income $ 7.86 million
Total non interest expense $ 51.67 million
Pre-tax Net Operating Income $ 26.14 million

Customer Reviews for Western State Bank (1)

Rated 5.00 stars out of 5 - based on 1 reviews
  • I've been a customer for many years. The folks are always really helpful. Just a great bank all around. I am not entirely sure about Western States as an online bank, might be hesitant to do business with them if I couldn't get to a branch.


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Branches

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Western State Bank Locations