Western State Bank
Devils Lake, North Dakota, Ramsey County
$2.5B in total assets, the 516th largest of 4,309 US banks and 7th of 60 headquartered in North Dakota.
- FDIC certificate
- 9123
- Established
- 1902
- Owned by
- Western St Agency Employee Stk Ownership Plan&tr
- Primary regulator
- FDIC
- Website
- www.westernbanks.com
At a glance
Compared with 11 banks headquartered in North Dakota with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $2.5B | 54% | $2.4B | |
| Loans | $2.3B | 54% | $1.9B | |
| Deposits | $2.1B | 54% | $2.0B | |
| Return on assets | 1.99% | 98% | 1.27% | |
| Net interest margin | 5.33% | 98% | 3.70% | |
| Efficiency ratio | 47.0% | 2% | 63.1% | |
| Equity to assets | 13.36% | 98% | 9.24% | |
| Loans to deposits | 107% | 98% | 83% |
Growth
Total assets grew 9.3% a year over the last 5 years and 11.2% a year over 10 years, without acquisitions.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| May 2013 | Central Arizona Bank Scottsdale, AZ | $32M |
| Jun 1997 | State Bank of Towner Towner, ND | $40M |
Where they operate
10 branches in 4 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Maricopa County, AZ | $998M | 0.5% | 15 of 55 |
| Ramsey County, ND | $543M | 55.5% | 1 of 7 |
| Cass County, ND | $455M | 4.0% | 8 of 28 |
| Pinal County, AZ | $114M | 3.4% | 7 of 12 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net loss of 2 branches since 2016 (12 to 10, −16.7%). 5 opened, 0 acquired, 7 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 12 | |||
| 2016 | Closed Fort Totten | 0 | 1 | −1 | 11 |
| 2017 | Opened Sun City West | 1 | 0 | +1 | 12 |
| 2018 | Sold 3 branches to Merchants BankClosed Willow City | 0 | 4 | −4 | 8 |
| 2019 | Opened Mesa | 1 | 0 | +1 | 9 |
| 2021 | Opened Fargo and PhoenixClosed Fargo | 2 | 1 | +1 | 10 |
| 2025 | Opened ScottsdaleClosed Scottsdale | 1 | 1 | 0 | 10 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Business (C&I) | 56% | 13% | |
| Commercial real estate | 19% | 26% | |
| 1-4 family residential | 8% | 19% | |
| Multifamily | 7% | 8% | |
| Construction and land | 6% | 6% | |
| Agricultural | 1% | 12% | |
| Farmland | 1% | 10% | |
| Consumer | 0% | 5% | |
| Other | 2% | 2% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Time deposits | 41% | 24% | |
| Other interest-bearing | 38% | 60% | |
| Noninterest-bearing | 20% | 17% |
Brokered deposits are 3.5% of deposits (peers 4.1%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.90% | 0.79% |
| Net charge-offs, annualized | 0.28% | 0.13% |
| Reserves to loans | 1.80% | 1.17% |
| Leverage ratio | 13.19% | 9.61% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in North Dakota
Largest competitors in Maricopa County, AZ
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/banks/western-state-bank-devils-lake-nd