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West Shore Bank Review

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West Shore Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


West Shore Bank first started operating in 1898 and is headquartered in Ludington, Michigan. It manages $420 million in assets and $333 million in deposits, which makes it a medium-size bank. West Shore Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With a score of 3.6 out of 5 stars, West Shore Bank should be near the middle of the pack in your search for a bank. West Shore Bank has a varied selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. West Shore Bank has a fair savings rate compared to the average savings account. The bank's standard checking product carries a monthly fee of $10.00, although banks sometimes have requirements that allow you to waive the fee. Institutions that offer no-fee checking as well as a high interest rate savings account are your best bet for getting the highest income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

With a savings rate of 0.05%, West Shore Bank ranks poorly in comparison to other U.S. banks. Its one-year and five-year term lengths CDs earn at a rate of 0.50% and 1.76%, respectively, while its highest-yielding money market account earns at a rate of 0.20%. Given its noncompetitive savings rate, you should think about other options to earn more on your deposits.

How West Shore Bank's Savings Rates Compare

West Shore Bank Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

West Shore Bank has typically high fees compared to the average U.S. bank. West Shore Bank's checking account has a monthly fee of $10.00, ranking it fair for anyone looking for a hassle-free account. West Shore Bank doesn't refund out-of-network ATM charges, which means you'll have to search for a West Shore Bank ATM or accept the withdrawal fee.

Monthly Fee $10.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

West Shore Bank is a brick-and-mortar bank, with nine total bank locations in Michigan. It also offers access to mobile and web apps for a straightforward mobile-banking experience. West Shore Bank gets positive ratings from users for its mobile banking services. Out of 6 ratings on Apple and Android platforms, the West Shore Bank mobile app has an overall rating of 5.0 out of 5 (compared to the national average of 3.8). You can use West Shore Bank's app to manage your finances by reviewing account balances, transferring money and reaching support representatives. West Shore Bank gets a superb consumer satisfaction rating based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 5.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

West Shore Bank is currently a medium-size bank with $420 million in assets as well as deposits totaling $333 million. It has an excellent Texas Ratio of 4.97%, indicating that West Shore Bank is in superb financial shape and far from failure. Additionally, West Shore Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare West Shore Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 1.00% APY
  • 36 Month: 1.26% APY
  • 48 Month: 1.51% APY
  • 60 Month: 1.76% APY
$500 for all terms
Money Market Account 0.15% APY $10000

West Shore Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. West Shore Bank does not have the best savings rate, which means you should consider looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. West Shore Bank's CD rates are fair compared to the average U.S. bank.

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Find a West Shore Bank Near Me

West Shore Bank has nine locations in the U.S.

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