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Western States Bank Review

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Western States Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Established in 2006, Western States Bank has $492 million in assets and deposits totaling $437 million, making it a medium-size bank. Western States Bank, whose headquarters are in Laramie, Wyoming, lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. At a SmartAsset rating of 4.4 out of 5 stars, Western States Bank should be solidly in contention for your choice of bank. Western States Bank offers a full suite of banking products, which include savings accounts, checking accounts, money market accounts, CDs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Western States Bank offers an option without a maintenance or monthly fee. Institutions that offer no-fee checking and a high interest rate savings account are your best bet for gaining the most income from your deposits alongside convenient access to your money.

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

Western States Bank has a savings rate of 0.10%, which is poor compared to other U.S. banks. Its CDs feature a rate of 1.50% and 2.75% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.10%. Given its noncompetitive savings rate, you should consider choosing another bank to earn more on your deposits.

How Western States Bank's Savings Rates Compare

Western States Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, Western States Bank charges customers extremely low fees compared to the national average. Its checking account has no monthly fee, rating it excellent for anyone looking for a simple account. Western States Bank does not refund out-of-network ATM charges, meaning you'll need to find a Western States Bank ATM or eat the ATM charge.

Monthly Fee $0 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

Western States Bank is a brick-and-mortar bank, with 14 total bank locations in Colorado, Nebraska and Wyoming. With mobile and web apps, Western States Bank makes account access straightforward, even on the go. Western States Bank's online and mobile banking services receive moderately high scores from users. With 30 customer reviews across iOS and Android platforms, the Western States Bank mobile app is scored at 4.1 out of 5 (compared to the national average of 3.8). You can utilize Western States Bank's mobile app to control your bank accounts by looking at account balances, sending and receiving funds and accessing customer service. Western States Bank receives an exceptional consumer satisfaction rating due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Western States Bank ranks as a medium-size bank with $492 million in assets and $437 million in deposits. Western States Bank's Texas Ratio is 7.15%, indicating a small possibility of failure. Additionally, Western States 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 Western States Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1000
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 1.50% APY
  • 24 Month: 1.90% APY
  • 36 Month: 2.10% APY
  • 48 Month: 2.20% APY
  • 60 Month: 2.75% APY
$500 for all terms
Money Market Account 0.08% APY $2000

Western States Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Western States Bank does not have the best savings rate, which means you should think about 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. Western States Bank's CD rates are fair compared to the national average.

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Find a Western States Bank Near Me

Western States Bank has 14 branches in the U.S.

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