west shore bank

West Shore Bank is committed to helping the people of the community. They are doing it through different financial products and services. Yes, we are talking about a community Bank that is for the people.

To improve your financial status, this Bank could be your option. It’s the way to do so because it has every type of product like savings, check-ins, demand deposits, mortgages, personal and business loans, and many more.

All the services you can control through online and mobile banking. We tried to dig out more details about this well-managed community bank.

Picture: West Shore Bank
Picture: West Shore Bank

What is the West Shore Bank?

In the United States of America, thousands of community banks are doing their financial activity. West Shore Bank is one of these.

This bank started its journey in 1898. Because of their planned and successful strategy, they have made assets totaling $420 million and $333 million in deposits.

As a medium-sized bank, this one offers every type of facility that the customer wants. From savings to checking, all types of products are available under the shade of this bank. They have got a 3.6 rating out of 5 for their service.

Still, they offer a complete package of banking solutions where you can find better CDs, IRAs, Mortgages, and many more.

Make your Transaction online
Picture: Make your Transaction online

When a bank is offering you a full package of personal and business banking services, then you should know more details about them but how?

The answer is knowing about the parameter and some other key information like organizational structure. Here you can find all the details that you are looking for about this bank. Have a glance at the.

ParticularRemarks
Websitehttp://www.westshorebank.com
IndustriesBanking, Financial Services
Company Size21 -200 employees
HeadquartersLudington, Michigan 49431
TypePublic Company
FoundedJuly 25, 1898
SpecialtiesCommunity Bank, Mortgage lending, Wealth Management, Trust Services, Commercial Lending, Business Banking, Consumer Lending, Treasury Management, Savings, and Checking
Operating StatusActive
Company TypeFor-Profit
FDIC InsuredYes
FDIC Certificate# 14929
Assets$708.27 million
Loans$366.37
Deposits$585.63 million
Capital$57.95 million
Became FDIC InsuredOct 6, 1934
Number of Branches9
Last Structure ChangeAugust 13, 2016
State CharteredYes
Net Income$1602
FDIC Region9
FDIC Supervisory RegionChicago
Federal Reserve DistrictChicago
Primary RegulatorFDIC

What Types of Products A Person Can Avail From This Bank?

It doesn’t matter how much growth a bank has and how better its service is. If customers are struggling to fit their financial needs with the products that a bank offers, then everything will ruin.

A wide range of products offers more freedom to choose the best fit based on financial needs. West Shore Bank has a great product line and we mentioned all of them below.

Personal Banking:

Personal Checking:

  • Compare Our Accounts
  • Simple Secure Checking
  • Interest Secure Checking
  • Relationship Secure Checking
  • Basic Checking
  • Student Checking

Personal Savings:

  • Statement Savings
  • Steady Saver
  • Christmas Club
  • money Market Savings
  • Certificates of Deposits (CDs)
  • Individual Retirement Accounts (IRAs)
  • Health Savings Accounts (HAS)

Personal Loans:

  • Auto Loans
  • Recreational Vehicle (RV) Loans

Digital Service:

  • Mobile Banking
  • MoneyTracker
  • Digital Wallet
  • Zelle

Personal Term Loan

Personal Service

Personal Credit Cards

Secure Benefits

Financial Calculators

Business Banking:

Business Checking:

  • Compare Our Business Accounts
  • Business Checking
  • Business Interest Checking
  • Business Analyzed Checking
  • Business Ventures
  • Interest in Lawyers Trust Account (IOLTA)

Business Savings:

  • Business Statement Savings
  • Business Money Market Savings
  • Insured Municipal Savings
  • Insured Cash Management Savings
  • Business Certificates of Deposit (CDs)
  • Retirement Savings

Business Loans:

  • Commercial Real Estate Loans
  • Business Lines of Credit
  • Small Business Admiration (SBA) Loans
  • Municipal Loans
  • Business Term Loans
  • Letters of Credit
  • Business Lenders

Treasury Management:

  • Remote Deposit Capture
  • Merchant Card Services
  • ACH & Wire Services
  • Sweep Accounts
  • Positive Pay
  • Information Reporting
  • Autobooks
  • LockBox Services

Business Digital Banking

Business Services

Business Credit Card

Financial Calculators

Business Resources

Mortgage:

Home Mortgage Loans:

  • Fixed-Rate Mortgage
  • Construction Loans
  • Second Home Financing
  • Home Improvements Loans

Home Equity Loan

Mortgage Lenders

Wealth Management:

  • Wealth Planning Process
  • Investment Management
  • Trust and Estate
  • Retirement planning
  • Private Banking
Picture: Mobile application makes banking easy
Picture: Mobile application makes banking easy

What About the Rates of Popular Products of West Shore Bank?

Rates of the product influence your financial decision, especially at the beginning of taking services from a community bank.

Most of the community banks are trying to offer competitive rates but not all of them are good in business.

In this race, West Shore Bank offered competitive rates for their popular product. We’ve mentioned all the rates below.

ProductCurrent Terms and RatesMinimum Balance for APY
Savings Account0.05% APY$1
Certificates of Deposit12 Months: 0.50% APY 24 Months: 1.00% APY 36 Months: 1.26% APY 48 Months: 1.51% APY 60 Months: 1.76% APY$500 for all terms
Money Market Accounts0.15% APY 0.2% APY$10000 $15000

How To Compare The Rate?

A community bank cannot give you a competitive rate for all of its products. Some products are the best and some are not comparing the rate.

When you need a specific product then you must know the current rate and what other banks are offering for the same product.

Maybe they are offering lower prices than the bank that you want to choose. That’s why the comparison is important to choose the right product for you. Here is the comparison chart for the West Shore Bank below.

Notable RatesAPYVs. Others
Savings0.05%0.85%
1 Year CD0.30%1.25%
2 Year CD0.50%1.50%
5 Year CD1.10%1.80%
30 Year MortgageN/A2.81%
15 Year MortgageN/A2.36%
HELOCN/A2.79%
Picture: National Average Vs. West Shore
Picture: National Average Vs. West Shore

Conclusion:

West Shore Bank has one single rule to make history in community banking. They are committed to helping the people of the community through a wide range of products and services at the best rate.

To serve the purpose, this bank built a strong and energetic team. All the members of the team give their best shot until their clients become happy.

It doesn’t matter how much you are desperate to reach your financial goal to meet the need. This bank always shows the right path. This is the best thing we liked about this bank.

All the employees of this bank live and work here for us. Now, they’ve built a relationship with the people of the community like a family.

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