West Gate Bank Mortgage Rates, Fees & Info

Lincoln, NE

LEI: 549300QLO8TSQW5JTK72

Tax ID: 47-0523112

5 stars - out of 5 stars, based on 75 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Bank Data

    Review & Overview

    West Gate Bank is a small bank specializing in Home Purchase and Refi loans. West Gate Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Omaha, Lincoln, Kearney, Norfolk, and Fremont among others. We have data for 95 markets. (Some data included below & more in-depth data is available with an active subscription.)

    West Gate Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. West Gate Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.61% 11/26/22
    30 Year Conventional Purchase 6.79% 11/26/22
    30 Year Conventional Refi 6.64% 11/26/22
    30 Year Cash-out Refi 6.91% 11/26/22
    30 Year FHA Purchase 7.33% 11/26/22
    30 Year FHA Refi 6.96% 11/26/22
    30 Year VA Purchase 6.19% 11/26/22
    30 Year VA Refi 6.00% 11/26/22
    30 Year USDA Purchase 6.94% 11/26/22
    15 Year Conventional Purchase 6.09% 11/26/22
    15 Year Conventional Refi 5.98% 11/26/22
    15 Year Cash-out Refi 5.98% 11/26/22
    15 Year FHA Purchase 5.90% 11/26/22
    15 Year VA Refi 5.64% 11/26/22
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    5,582

    Origination Dollar Volume (All Markets)

    $1,222,220,000

    Employee count

    210 Show all (35) awards

    Relative Rate

    West Gate Bank's average 30 year fixed mortgage rate was 2.95%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.2%.

    Relative Fees (Closing Costs)

    West Gate Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,415.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1,426 $361,980,000 $253,843 $2,410 2.76%
    LINCOLN, NE (FHA|USDA|VA) 1,065 $273,315,000 $256,634 $2,176 2.89%
    Outside of Metro Areas 1,259 $209,785,000 $166,628 $2,190 2.84%
    Kearney, NE (FHA|USDA|VA) 364 $76,050,000 $208,929 $2,040 2.74%
    Norfolk, NE (FHA|USDA|VA) 295 $59,405,000 $201,373 $2,426 2.87%
    Fremont, NE (FHA|USDA|VA) 189 $35,565,000 $188,175 $2,208 2.91%
    GRAND ISLAND, NE (FHA|USDA|VA) 158 $31,220,000 $197,595 $2,150 2.83%
    Rock Springs, WY (FHA|USDA|VA) 65 $16,935,000 $260,538 $2,209 2.73%
    Hastings, NE (FHA|USDA|VA) 81 $15,125,000 $186,728 $2,210 2.96%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 35 $14,835,000 $423,857 $3,325 2.97%
    Columbus, NE (FHA|USDA|VA) 77 $12,305,000 $159,805 $2,112 2.81%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 58 $11,390,000 $196,379 $1,807 2.76%
    Lexington, NE (FHA|USDA|VA) 56 $9,120,000 $162,857 $1,961 2.84%
    Ottumwa, IA (FHA|USDA|VA) 46 $7,320,000 $159,130 $2,008 2.79%
    Pella, IA (FHA|USDA|VA) 40 $7,090,000 $177,250 $1,784 2.64%
    MANHATTAN, KS (FHA|USDA|VA) 31 $5,295,000 $170,806 $2,194 2.64%
    Scottsbluff, NE (FHA|USDA|VA) 33 $4,895,000 $148,333 $3,204 2.90%
    Fairfield, IA (FHA|USDA|VA) 25 $4,235,000 $169,400 $1,971 2.73%
    North Platte, NE (FHA|USDA|VA) 33 $3,985,000 $120,758 $2,306 2.91%
    Oskaloosa, IA (FHA|USDA|VA) 30 $3,980,000 $132,667 $1,858 2.63%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 20 $3,760,000 $188,000 $1,722 2.62%
    Beatrice, NE (FHA|USDA|VA) 16 $3,460,000 $216,250 $1,918 2.72%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 10 $3,370,000 $337,000 $3,374 2.78%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 14 $3,320,000 $237,143 $1,891 2.83%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 8 $2,990,000 $373,750 $2,640 2.84%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 8 $2,950,000 $368,750 $5,039 2.67%
    Salina, KS (FHA|USDA|VA) 10 $2,430,000 $243,000 $1,722 2.76%
    CHEYENNE, WY (FHA|USDA|VA) 9 $2,235,000 $248,333 $4,502 2.79%
    Yankton, SD (FHA|USDA|VA) 7 $2,125,000 $303,571 $2,538 2.84%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $2,000,000 $500,000 $5,641 2.50%
    Laramie, WY (FHA|USDA|VA) 5 $1,665,000 $333,000 $4,234 2.88%
    AMARILLO, TX (FHA|USDA|VA) 9 $1,605,000 $178,333 $3,129 3.03%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $1,265,000 $421,667 $2,951 2.29%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $1,175,000 $1,175,000 $0 3.50%
    IOWA CITY, IA (FHA|USDA|VA) 6 $1,050,000 $175,000 $1,528 2.67%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 4 $960,000 $240,000 $3,136 3.06%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $935,000 $311,667 $3,661 3.08%
    WICHITA, KS (FHA|USDA|VA) 6 $930,000 $155,000 $1,844 2.54%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $925,000 $308,333 $3,077 3.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $840,000 $420,000 $4,316 2.94%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $830,000 $415,000 $4,715 2.81%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 3 $765,000 $255,000 $2,386 3.29%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 2 $760,000 $380,000 $3,513 2.25%
    Spearfish, SD (FHA|USDA|VA) 2 $720,000 $360,000 $3,004 2.38%
    Jackson, WY-ID (FHA|USDA|VA) 1 $715,000 $715,000 $2,980 2.63%
    FORT COLLINS, CO (FHA|USDA|VA) 2 $660,000 $330,000 $4,087 2.44%
    TUCSON, AZ (FHA|USDA|VA) 2 $600,000 $300,000 $1,585 2.06%
    Spirit Lake, IA (FHA|USDA|VA) 2 $590,000 $295,000 $2,223 2.81%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $545,000 $545,000 $6,159 2.63%
    Brainerd, MN (FHA|USDA|VA) 1 $545,000 $545,000 $4,185 3.13%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 2 $530,000 $265,000 $2,214 3.69%
    TOPEKA, KS (FHA|USDA|VA) 2 $470,000 $235,000 $2,073 2.56%
    Breckenridge, CO (FHA|USDA|VA) 1 $445,000 $445,000 $3,651 2.63%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $435,000 $435,000 $2,307 2.75%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $425,000 $425,000 $3,287 2.88%
    JEFFERSON CITY, MO (FHA|USDA|VA) 2 $420,000 $210,000 $2,415 2.19%
    AMES, IA (FHA|USDA|VA) 2 $420,000 $210,000 $2,172 2.63%
    Hailey, ID (FHA|USDA|VA) 1 $385,000 $385,000 $2,915 2.75%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $355,000 $355,000 $3,672 2.13%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $345,000 $345,000 $2,891 3.00%
    Watertown, SD (FHA|USDA|VA) 1 $335,000 $335,000 $2,721 2.63%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $335,000 $335,000 $1,507 2.75%
    Carroll, IA (FHA|USDA|VA) 1 $315,000 $315,000 $1,772 2.88%
    ST. GEORGE, UT (FHA|USDA|VA) 1 $315,000 $315,000 $2,242 2.50%
    FLAGSTAFF, AZ (FHA|USDA|VA) 1 $315,000 $315,000 $2,469 2.63%
    IDAHO FALLS, ID (FHA|USDA|VA) 1 $315,000 $315,000 $3,998 2.63%
    MISSOULA, MT (FHA|USDA|VA) 1 $305,000 $305,000 $2,270 2.88%
    GREELEY, CO (FHA|USDA|VA) 1 $305,000 $305,000 $1,966 2.38%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $3,007 2.25%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,180 2.25%
    Clovis, NM (FHA|USDA|VA) 1 $305,000 $305,000 $3,451 2.75%
    CASPER, WY (FHA|USDA|VA) 1 $305,000 $305,000 $2,194 2.75%
    COLUMBIA, MO (FHA|USDA|VA) 2 $290,000 $145,000 $1,875 3.75%
    GRAND JUNCTION, CO (FHA|USDA|VA) 1 $275,000 $275,000 $2,414 3.00%
    CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 1 $275,000 $275,000 $1,607 2.88%
    ABILENE, TX (FHA|USDA|VA) 1 $255,000 $255,000 $0 2.25%
    LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 1 $205,000 $205,000 $2,761 2.88%
    ST. JOSEPH, MO-KS (FHA|USDA|VA) 1 $205,000 $205,000 $4,731 2.63%
    Steamboat Springs, CO (FHA|USDA|VA) 1 $185,000 $185,000 $2,264 2.63%
    Branson, MO (FHA|USDA|VA) 1 $165,000 $165,000 $2,430 2.88%
    Big Spring, TX (FHA|USDA|VA) 1 $165,000 $165,000 $3,825 3.13%
    LAWRENCE, KS (FHA|USDA|VA) 1 $155,000 $155,000 $1,111 2.50%
    Winfield, KS (FHA|USDA|VA) 1 $155,000 $155,000 $1,903 2.25%
    JOPLIN, MO (FHA|USDA|VA) 1 $145,000 $145,000 $2,201 3.63%
    MANKATO, MN (FHA|USDA|VA) 1 $145,000 $145,000 $2,233 3.13%
    Fort Dodge, IA (FHA|USDA|VA) 1 $145,000 $145,000 $2,241 3.00%
    LUBBOCK, TX (FHA|USDA|VA) 1 $135,000 $135,000 $3,734 3.13%
    Muscatine, IA (FHA|USDA|VA) 1 $125,000 $125,000 $2,174 2.88%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $125,000 $125,000 $2,261 3.00%
    Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 1 $115,000 $115,000 $1,719 2.75%
    ROCHESTER, MN (FHA|USDA|VA) 1 $105,000 $105,000 $2,960 3.38%
    Hereford, TX (FHA|USDA|VA) 1 $95,000 $95,000 $2,307 3.00%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.50%
    Riverton, WY (FHA|USDA|VA) 1 $65,000 $65,000 $0 3.00%
    Bartlesville, OK (FHA|USDA|VA) 1 $65,000 $65,000 $3,555 2.38%
    West Gate Bank's top markets include Omaha, Lincoln, Kearney, Norfolk, and Fremont among others.

    Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Wyoming (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against West Gate Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    WESTERN VISTA
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    BankIowa of Cedar Rapids
    Similarity Rank: 75
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    First Dakota National Bank
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    SIOUXLAND FEDERAL CREDIT UNION
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    VisionBank of Iowa
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    Exchange Bank
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    Bank of the Flint Hills
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 5,314 $1,164,480,000 $219,134 $2,162 2.84%
    VA 163 $43,675,000 $267,945 $4,554 2.33%
    USDA 89 $11,255,000 $126,461 $3,559 2.77%
    FHA 15 $2,635,000 $175,667 $5,508 2.58%
    HELOC 1 $175,000 $175,000 n/a 3.90%

    For 2021, West Gate Bank's most frequently originated type of loan was Conventional, with 5,314 originations. Their 2nd most popular type was VA, with 163 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,254 $525,160,000 $232,990 $2,605 2.93%
    Refi 2,165 $467,035,000 $215,721 $1,918 2.63%
    Cash Out Refi 1,099 $219,875,000 $200,068 $2,287 2.91%
    Other 46 $7,480,000 $162,609 $2,081 3.82%
    Home Improvement 18 $2,670,000 $148,333 $1,568 3.68%

    For 2021, West Gate Bank's most frequently cited loan purpose was Home Purchase, with 2,254 originations. The 2nd most popular reason was Refi, with 2,165 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,637 $816,135,000 $224,398 $2,415 2.95%
    15 Year 1,291 $242,315,000 $187,696 $1,995 2.41%
    20 Year 385 $86,015,000 $223,416 $2,059 2.79%
    10 Year 159 $25,075,000 $157,704 $1,756 2.32%
    Other 52 $22,180,000 $426,538 $1,364 4.25%
    5 Year 46 $26,990,000 $586,739 $234 3.85%
    1 Year 11 $3,165,000 $287,727 $2,520 4.09%
    3 Year 1 $345,000 $345,000 $0 4.25%

    For 2021, West Gate Bank's most frequently cited loan duration was 30 Year, with 3,637 originations. The 2nd most popular length was 15 Year, with 1,291 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 3,710 $800,450,000 $215,755
    $1k-2k 1,459 $290,735,000 $199,270
    $2k-3k 122 $29,140,000 $238,852
    $3k-4k 45 $11,665,000 $259,222
    $5k+ 20 $8,680,000 $434,000
    $4k-5k 19 $6,235,000 $328,158

    West Gate Bank's average total fees were $2,415, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3,710 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 2,668 $604,180,000 $226,454
    <2.5% 1,526 $320,520,000 $210,039
    3-4% 1,304 $271,020,000 $207,837
    4-5% 74 $24,590,000 $332,297
    5-6% 10 $1,910,000 $191,000

    During 2021, West Gate Bank's average interest rate for loans was 2.95%, while their most frequently originated rate bucket for loans was 2.5-3%, with 2,668 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 2,354 $351,670,000 $149,393 $2,091 2.84%
    $200k-400k 2,072 $567,730,000 $274,001 $2,410 2.77%
    $100,000 or less 719 $54,505,000 $75,807 $1,921 2.94%
    $400k-600k 411 $196,145,000 $477,238 $3,048 2.70%
    $1MM+ 13 $42,655,000 $3,281,154 $6,085 3.73%
    $600k-1MM 13 $9,515,000 $731,923 $4,127 3.45%

    2021 saw West Gate Bank place emphasis on $100k-200k loans with 2,354 originations, totaling $351,670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,246 $204,490,000 $164,117 $2,197 2.83%
    $100k-150k 1,227 $294,635,000 $240,126 $2,275 2.77%
    $75k-100k 1,073 $212,925,000 $198,439 $2,208 2.83%
    $50k or less 849 $99,145,000 $116,779 $2,168 2.94%
    $150k-250k 768 $228,070,000 $296,966 $2,389 2.72%
    $250k+ 295 $112,695,000 $382,017 $2,746 2.74%

    West Gate Bank lent most frequently to those with incomes in the $50k-75k range, with 1,246 originations. The second most popular income band? $100k-150k, with 1,227 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,668 $346,230,000 $207,572 $2,204 2.79%
    30-36% 1,091 $227,425,000 $208,456 $2,333 2.83%
    <20% 682 $143,820,000 $210,880 $2,144 2.68%
    37% 198 $40,210,000 $203,081 $2,390 2.91%
    36% 181 $37,775,000 $208,702 $2,244 2.85%
    39% 179 $37,535,000 $209,693 $2,226 2.86%
    44% 178 $39,480,000 $221,798 $2,412 2.98%
    43% 172 $36,830,000 $214,128 $2,351 2.81%
    42% 164 $36,120,000 $220,244 $2,292 2.87%
    41% 159 $32,965,000 $207,327 $2,406 2.85%
    38% 159 $32,895,000 $206,887 $2,364 2.93%
    40% 154 $33,910,000 $220,195 $2,242 2.91%
    45% 102 $22,270,000 $218,333 $2,215 2.81%
    49% 99 $21,255,000 $214,697 $2,335 2.77%
    47% 95 $22,125,000 $232,895 $2,265 2.84%
    48% 91 $20,745,000 $227,967 $2,199 2.84%
    46% 86 $20,370,000 $236,860 $2,590 2.81%

    West Gate Bank lent most frequently to those with DTI ratios of 20-30%, with 1,668 originations. The next most common DTI ratio? 30-36%, with 1,091 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 5,111 $1,074,445,000 $210,222 $2,242 2.81%
    Not provided 322 $72,360,000 $224,720 $2,584 2.81%
    Not applicable 64 $55,440,000 $866,250 $0 3.87%
    Asian 35 $9,655,000 $275,857 $2,377 2.74%
    Black 29 $6,485,000 $223,621 $2,972 2.76%
    American Indian 14 $2,220,000 $158,571 $2,521 2.85%
    Native Hawaiian or Islander 4 $940,000 $235,000 $2,411 2.66%
    Asian Indian 1 $335,000 $335,000 $2,668 2.75%
    Other Pacific Islander 1 $185,000 $185,000 $1,556 2.50%
    Korean 1 $155,000 $155,000 $1,719 2.63%

    Approval Rates

    Total approvals of all applications
    97.11%

    West Gate Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    92.76%

    West Gate Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 5,582 $1,222,220,000 $218,957

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    5,582 $1,222,220,000 $218,957

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 330 $47,760,000 $144,727 $2,005 2.66%
    40-60% 1,006 $188,270,000 $187,147 $2,016 2.63%
    60-80% 2,338 $541,630,000 $231,664 $2,171 2.84%
    80-100% 1,824 $411,990,000 $225,872 $2,509 2.91%
    Over 100% 43 $28,785,000 $669,419 $9,544 3.08%
    Under 20% 41 $3,785,000 $92,317 $1,104 3.02%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    West Coast Servicing, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    West Coast Servicing, Inc. Conventional home mortgage Struggling to pay mortgage 2 40.0%
    West Coast Servicing, Inc. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 2 40.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    West Gate Bank 2662 Cornhusker Highway, Suite 3 Lincoln, NE 68521 Full Service B&M $26,310
    West Gate Bank 4955 O St Lincoln, NE 68510 Full Service B&M $41,627
    West Gate Bank 5555 S 27th St Lincoln, NE 68512 Limited, Drive-thru $0
    West Gate Bank 6003 Old Cheney Road, Suite 100 Lincoln, NE 68516 Full Service B&M $507,891
    West Gate Bank 8400 Eagle Crest Rd Lincoln, NE 68505 Full Service B&M $48,235
    West Gate Bank 9775 Q Street Omaha, NE 68127 Full Service B&M $25,097
    West Gate Bank 1004 Cornhusker Road Bellevue, NE 68005 Full Service B&M $11,184
    West Gate Bank 1020 South 179th Court Omaha, NE 68118 Full Service B&M $29,768
    West Gate Bank 1204 West O St Lincoln, NE 68528 Full Service B&M $83,273
    West Gate Bank 2037 South 17th Street Lincoln, NE 68502 Full Service B&M $43,171

    For 2021, West Gate Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $39,086
    Net interest income $37,375
    Total noninterest income $21,217
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,369
    Trading account gains and fees $0
    Additional Noninterest Income $19,848
    Pre-tax net operating income $16,848
    Securities gains (or losses, -) $0
    Income before extraordinary items $13,706
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $13,706
    Minority interest net income $0
    Net income $13,706
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $13,706

    West Gate Bank's gross interest income from loans was $39,086,000.
    West Gate Bank's net interest income from loans was $37,375,000.
    West Gate Bank's fee based income from loans was $1,369,000.
    West Gate Bank's net income from loans was $13,706,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,711
    Provision for credit losses $1,429
    Total noninterest expense $40,315
    Salaries and employee benefits $21,035
    Premises and equipment expense $2,301
    Additional noninterest expense $16,979
    Applicable income taxes $3,142
    Net charge-offs $47
    Cash dividends $1,100

    West Gate Bank's interest expense for loans was $1,711,000.
    West Gate Bank's payroll and benefits expense were $21,035,000.
    West Gate Bank's property, plant and equipment expenses $2,301,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 6.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $866,169
    Deposits held in domestic offices $866,169
    Deposits by Individuals, partnerships, and corporations $761,294
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $102,392
    Deposits by Commercial banks and other depository institutions in U.S. $2,483
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $493,447
    Demand deposits $375,777
    Nontransaction accounts $372,722
    Money market deposit accounts (MMDAs) $231,847
    Other savings deposits (excluding MMDAs) $32,925
    Total time deposits $107,949
    Total time and savings deposits $490,392
    Noninterest-bearing deposits $275,626
    Interest-bearing deposits $590,542
    Retail deposits $845,475
    IRAs and Keogh plan accounts $6,911
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,000,660
    Cash & Balances due from depository institutions $18,916
    Interest-bearing balances $6,123
    Total securities $106,213
    Federal funds sold & reverse repurchase $0
    Net loans and leases $796,739
    Loan and leases loss allowance $7,960
    Trading account assets $0
    Bank premises and fixed assets $27,155
    Other real estate owned $0
    Goodwill and other intangibles $31,093
    All other assets $20,544

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,000,660
    Total Liabilities $883,960
    Total deposits $866,169
    Interest-bearing deposits $590,542
    Deposits held in domestic offices $866,169
    % insured (estimated) $68
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $5,000
    Subordinated debt $0
    All other liabilities $12,791

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $796,739
    Loan and leases loss allowance $7,960
    Total loans and leases (domestic) $804,699
    All real estate loans $702,066
    Real estate loans in domestic offices $702,066
    Construction and development loans $96,935
    Residential 1-4 family construction $29,344
    Other construction, all land development and other land $67,591
    Loans secured by nonfarm nonresidential properties $241,228
    Nonfarm nonresidential secured by owner-occupied properties $42,685
    Commercial real estate & other non-farm, non-residential $198,543
    Multifamily residential real estate $71,140
    1-4 family residential loans $290,818
    Farmland loans $1,945
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $74,873
    To non-U.S. addressees $0
    Loans to individuals $1,169
    Credit card loans $0
    Related Plans $35
    Consumer Auto Loans $142
    Other loans to individuals $992
    All other loans & leases $26,591
    Loans to foreign governments and official institutions $0
    Other loans $15,266
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $646
    Non 1-4 family restructured loans & leases $646
    Total loans and leases (foreign) $0

    West Gate Bank had $796,739,000 of loans outstanding in 2021. $702,066,000 of loans were in real estate loans. $96,935,000 of loans were in development loans. $71,140,000 of loans were in multifamily mortgage loans. $290,818,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $142,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 204 $62,107 $304,446
    Nonfarm, nonresidential loans - <$100k 24 $1,117 $46,542
    Nonfarm, nonresidential loans - $100-250k 58 $8,037 $138,569
    Nonfarm, nonresidential loans - $250k-1MM 122 $52,953 $434,041
    Commercial & Industrial, US addressed loans - <$1MM 195 $36,971 $189,595
    Commercial & Industrial, US addressed loans - <$100k 90 $1,406 $15,622
    Commercial & Industrial, US addressed loans - $100-250k 43 $2,766 $64,326
    Commercial & Industrial, US addressed loans - $250k-1MM 62 $32,799 $529,016
    Farmland loans - <$1MM 4 $1,106 $276,500
    Farmland loans - $100-250k 2 $111 $55,500
    Farmland loans - $250k-1MM 2 $995 $497,500