West Gate Bank Mortgage Rates, Fees & Info

Lincoln, NE

LEI: 549300QLO8TSQW5JTK72

Tax ID: 47-0523112

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Bank Data

Review & Overview

West Gate Bank is a small bank specializing in Refi and Home Purchase 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 96 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
30 Year Conventional Purchase 6.52% 3/28/24
30 Year Conventional Refi 6.32% 3/28/24
30 Year Cash-out Refi 6.63% 3/28/24
30 Year FHA Purchase 7.23% 3/28/24
30 Year VA Purchase 5.89% 3/28/24
30 Year VA Refi 5.39% 3/28/24
30 Year USDA Purchase 6.55% 3/28/24
15 Year Conventional Purchase 5.88% 3/28/24
15 Year Conventional Refi 5.86% 3/28/24
15 Year Cash-out Refi 5.86% 3/28/24
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.

West Gate Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from West Gate Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

6,473

Origination Dollar Volume (All Markets)

$1,405,125,000

Employee count

219 Show all (44) awards

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) 1,761 $442,515,000 $251,286 $2,210 3.03%
LINCOLN, NE (FHA|USDA|VA) 1,396 $327,950,000 $234,921 $1,960 3.11%
Outside of Metro Areas 1,184 $199,830,000 $168,775 $2,132 3.11%
Kearney, NE (FHA|USDA|VA) 423 $87,195,000 $206,135 $1,967 2.95%
Norfolk, NE (FHA|USDA|VA) 391 $81,645,000 $208,811 $2,183 3.01%
Fremont, NE (FHA|USDA|VA) 228 $43,840,000 $192,281 $2,290 3.21%
GRAND ISLAND, NE (FHA|USDA|VA) 171 $31,415,000 $183,713 $2,171 3.05%
Rock Springs, WY (FHA|USDA|VA) 70 $18,250,000 $260,714 $1,952 2.78%
Hastings, NE (FHA|USDA|VA) 78 $14,730,000 $188,846 $2,097 3.07%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 57 $11,635,000 $204,123 $1,861 3.09%
Lexington, NE (FHA|USDA|VA) 61 $10,865,000 $178,115 $2,014 3.18%
Columbus, NE (FHA|USDA|VA) 58 $10,430,000 $179,828 $2,133 3.21%
Ottumwa, IA (FHA|USDA|VA) 68 $9,470,000 $139,265 $1,868 3.13%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 51 $8,585,000 $168,333 $2,927 3.18%
Pella, IA (FHA|USDA|VA) 42 $7,290,000 $173,571 $1,680 2.96%
MANHATTAN, KS (FHA|USDA|VA) 39 $7,075,000 $181,410 $2,360 3.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 12 $5,950,000 $495,833 $3,092 3.06%
Oskaloosa, IA (FHA|USDA|VA) 42 $5,930,000 $141,190 $1,742 2.88%
North Platte, NE (FHA|USDA|VA) 39 $5,685,000 $145,769 $2,249 3.04%
CHEYENNE, WY (FHA|USDA|VA) 21 $5,625,000 $267,857 $4,615 3.01%
Scottsbluff, NE (FHA|USDA|VA) 39 $5,565,000 $142,692 $2,944 3.01%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 16 $5,170,000 $323,125 $2,732 2.82%
Beatrice, NE (FHA|USDA|VA) 18 $4,860,000 $270,000 $2,441 3.43%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 10 $4,180,000 $418,000 $4,253 2.95%
KANSAS CITY, MO-KS (FHA|USDA|VA) 18 $3,960,000 $220,000 $1,985 2.99%
CEDAR RAPIDS, IA (FHA|USDA|VA) 26 $3,930,000 $151,154 $1,564 2.89%
PROVO-OREM, UT (FHA|USDA|VA) 7 $3,635,000 $519,286 $6,245 3.34%
AMARILLO, TX (FHA|USDA|VA) 15 $3,035,000 $202,333 $3,128 3.19%
GREELEY, CO (FHA|USDA|VA) 5 $1,525,000 $305,000 $3,824 3.25%
Fairfield, IA (FHA|USDA|VA) 10 $1,460,000 $146,000 $1,897 3.16%
Salina, KS (FHA|USDA|VA) 10 $1,450,000 $145,000 $1,469 3.01%
Laramie, WY (FHA|USDA|VA) 7 $1,345,000 $192,143 $4,246 3.21%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 3 $1,295,000 $431,667 $3,691 2.63%
WICHITA, KS (FHA|USDA|VA) 6 $1,260,000 $210,000 $2,266 3.48%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $1,190,000 $297,500 $4,692 3.16%
Spirit Lake, IA (FHA|USDA|VA) 5 $1,155,000 $231,000 $1,798 3.13%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $1,130,000 $565,000 $5,765 3.94%
Breckenridge, CO (FHA|USDA|VA) 1 $1,035,000 $1,035,000 $3,710 3.63%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $1,035,000 $1,035,000 $7,264 3.63%
LUBBOCK, TX (FHA|USDA|VA) 2 $860,000 $430,000 $5,255 3.25%
LAWRENCE, KS (FHA|USDA|VA) 3 $765,000 $255,000 $2,213 3.13%
ST. LOUIS, MO-IL (FHA|USDA|VA) 3 $745,000 $248,333 $3,395 2.96%
MIDLAND, TX (FHA|USDA|VA) 2 $730,000 $365,000 $4,536 3.19%
Jackson, WY-ID (FHA|USDA|VA) 1 $725,000 $725,000 $3,443 3.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $720,000 $360,000 $2,917 3.81%
ST. GEORGE, UT (FHA|USDA|VA) 2 $700,000 $350,000 $4,057 2.94%
ODESSA, TX (FHA|USDA|VA) 1 $675,000 $675,000 $5,879 4.25%
FORT COLLINS, CO (FHA|USDA|VA) 2 $610,000 $305,000 $2,612 3.13%
Spearfish, SD (FHA|USDA|VA) 2 $590,000 $295,000 $2,191 2.69%
COLORADO SPRINGS, CO (FHA|USDA|VA) 2 $580,000 $290,000 $2,933 2.81%
Yankton, SD (FHA|USDA|VA) 3 $575,000 $191,667 $2,218 3.46%
IOWA CITY, IA (FHA|USDA|VA) 4 $560,000 $140,000 $1,674 3.03%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $540,000 $270,000 $3,757 2.63%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $515,000 $515,000 $3,698 2.63%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $505,000 $505,000 $4,522 3.63%
PANAMA CITY, FL (FHA|USDA|VA) 1 $505,000 $505,000 $0 4.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $505,000 $168,333 $3,266 3.28%
Levelland, TX (FHA|USDA|VA) 1 $435,000 $435,000 $4,956 2.75%
TUCSON, AZ (FHA|USDA|VA) 1 $415,000 $415,000 $1,536 2.75%
Moscow, ID (FHA|USDA|VA) 1 $415,000 $415,000 $3,378 2.75%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $405,000 $405,000 $2,370 2.88%
Branson, MO (FHA|USDA|VA) 2 $400,000 $200,000 $2,451 2.81%
Clovis, NM (FHA|USDA|VA) 2 $390,000 $195,000 $3,124 2.81%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $355,000 $355,000 $2,827 2.75%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $345,000 $345,000 $3,920 2.25%
TYLER, TX (FHA|USDA|VA) 1 $335,000 $335,000 $4,029 3.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $325,000 $325,000 $0 3.63%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $315,000 $315,000 $3,883 2.50%
SIOUX FALLS, SD (FHA|USDA|VA) 1 $295,000 $295,000 $2,048 2.13%
ABILENE, TX (FHA|USDA|VA) 1 $285,000 $285,000 $2,994 3.63%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $285,000 $285,000 $2,875 2.63%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $285,000 $285,000 $3,578 2.88%
RAPID CITY, SD (FHA|USDA|VA) 1 $285,000 $285,000 $2,173 2.63%
Fergus Falls, MN (FHA|USDA|VA) 1 $265,000 $265,000 $1,906 3.00%
Red Wing, MN (FHA|USDA|VA) 1 $265,000 $265,000 $2,528 2.50%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $235,000 $235,000 $3,295 2.38%
Winfield, KS (FHA|USDA|VA) 1 $225,000 $225,000 $7,252 3.00%
WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $225,000 $225,000 $2,679 2.38%
AMES, IA (FHA|USDA|VA) 1 $225,000 $225,000 $1,624 2.50%
TULSA, OK (FHA|USDA|VA) 1 $215,000 $215,000 $3,116 2.63%
Worthington, MN (FHA|USDA|VA) 1 $205,000 $205,000 $2,849 2.75%
JEFFERSON CITY, MO (FHA|USDA|VA) 1 $195,000 $195,000 $2,211 2.50%
Granbury, TX (FHA|USDA|VA) 1 $185,000 $185,000 $0 4.25%
Marshalltown, IA (FHA|USDA|VA) 1 $185,000 $185,000 $1,998 2.75%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $175,000 $175,000 $1,690 2.75%
POCATELLO, ID (FHA|USDA|VA) 1 $165,000 $165,000 $2,937 2.75%
FARGO, ND-MN (FHA|USDA|VA) 1 $165,000 $165,000 $1,904 3.63%
Brookings, SD (FHA|USDA|VA) 1 $165,000 $165,000 $2,620 2.63%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $165,000 $165,000 $3,303 2.75%
Aberdeen, SD (FHA|USDA|VA) 1 $155,000 $155,000 $2,419 3.00%
Gillette, WY (FHA|USDA|VA) 1 $155,000 $155,000 $3,660 3.25%
FRESNO, CA (FHA|USDA|VA) 1 $135,000 $135,000 $2,130 3.38%
Pittsburg, KS (FHA|USDA|VA) 1 $105,000 $105,000 $2,432 2.50%
GETTYSBURG, PA (FHA|USDA|VA) 1 $105,000 $105,000 $2,521 2.13%
Burlington, IA-IL (FHA|USDA|VA) 1 $55,000 $55,000 $2,198 2.75%
Ottawa, KS (FHA|USDA|VA) 1 $55,000 $55,000 $2,051 3.25%
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)
  • Texas (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
    Similarity Rank: 60
    First PREMIER Bank
    Similarity Rank: 80
    Bank of the Flint Hills
    Similarity Rank: 126
    ESB Financial
    Similarity Rank: 144
    FINANCIAL PLUS Credit Union
    Similarity Rank: 172
    SIOUXLAND FEDERAL CREDIT UNION
    Similarity Rank: 182
    First Dakota National Bank
    Similarity Rank: 185

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 6,186 $1,347,290,000 $217,797 $2,075 3.07%
    VA 178 $43,690,000 $245,449 $3,678 2.66%
    USDA 76 $9,430,000 $124,079 $3,426 3.14%
    FHA 33 $4,715,000 $142,879 $4,878 3.46%

    For 2020, West Gate Bank's most frequently originated type of loan was Conventional, with 6,186 originations. Their 2nd most popular type was VA, with 178 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 3,265 $740,205,000 $226,709 $1,899 2.93%
    Home Purchase 2,307 $486,745,000 $210,986 $2,497 3.12%
    Cash Out Refi 850 $172,180,000 $202,565 $2,219 3.30%
    Other 38 $4,090,000 $107,632 $1,384 5.08%
    Home Improvement 13 $1,905,000 $146,538 $1,798 4.68%

    For 2020, West Gate Bank's most frequently cited loan purpose was Refi, with 3,265 originations. The 2nd most popular reason was Home Purchase, with 2,307 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 4,395 $961,715,000 $218,820 $2,230 3.14%
    15 Year 1,397 $270,205,000 $193,418 $1,990 2.73%
    20 Year 359 $86,235,000 $240,209 $1,975 3.02%
    10 Year 148 $30,630,000 $206,959 $1,832 2.81%
    5 Year 82 $28,440,000 $346,829 $197 4.03%
    Other 79 $25,625,000 $324,367 $2,158 4.42%
    1 Year 13 $2,275,000 $175,000 $0 4.83%

    For 2020, West Gate Bank's most frequently cited loan duration was 30 Year, with 4,395 originations. The 2nd most popular length was 15 Year, with 1,397 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 5,078 $1,085,220,000 $213,710
    $1k-2k 907 $183,115,000 $201,891
    $2k-3k 150 $32,920,000 $219,467
    $3k-4k 51 $14,945,000 $293,039
    $4k-5k 15 $4,645,000 $309,667
    $5k+ 11 $5,675,000 $515,909

    West Gate Bank's average total fees were $2,230, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 5,078 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 2,786 $624,450,000 $224,139
    3-4% 2,471 $511,415,000 $206,967
    <2.5% 944 $207,190,000 $219,481
    4-5% 229 $56,755,000 $247,838
    5-6% 39 $4,835,000 $123,974
    6-7% 4 $480,000 $120,000

    During 2020, West Gate Bank's average interest rate for loans was 3.14%, while their most frequently originated rate bucket for loans was 2.5-3%, with 2,786 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 2,738 $411,220,000 $150,190 $2,029 3.09%
    $200k-400k 2,600 $708,620,000 $272,546 $2,227 2.96%
    $100,000 or less 723 $54,805,000 $75,802 $1,913 3.34%
    $400k-600k 374 $173,160,000 $462,995 $2,734 2.94%
    $600k-1MM 21 $16,275,000 $775,000 $5,340 3.90%
    $1MM+ 17 $41,045,000 $2,414,412 $6,950 3.90%

    2020 saw West Gate Bank place emphasis on $100k-200k loans with 2,738 originations, totaling $411,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,595 $381,415,000 $239,132 $2,153 3.02%
    $50k-75k 1,369 $222,105,000 $162,239 $2,137 3.08%
    $75k-100k 1,211 $234,465,000 $193,613 $2,071 3.07%
    $150k-250k 919 $264,885,000 $288,232 $2,216 2.95%
    $50k or less 862 $102,880,000 $119,350 $2,093 3.17%
    $250k+ 329 $121,495,000 $369,286 $2,516 3.03%

    West Gate Bank lent most frequently to those with incomes in the $100k-150k range, with 1,595 originations. The second most popular income band? $50k-75k, with 1,369 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,931 $406,615,000 $210,572 $2,071 3.00%
    30-36% 1,239 $257,785,000 $208,059 $2,110 3.12%
    <20% 894 $182,600,000 $204,251 $2,035 2.96%
    36% 214 $48,720,000 $227,664 $2,246 3.08%
    38% 206 $44,980,000 $218,350 $2,294 3.06%
    40% 203 $41,715,000 $205,493 $2,244 3.07%
    37% 188 $38,020,000 $202,234 $2,225 3.15%
    44% 187 $41,565,000 $222,273 $2,384 3.08%
    43% 186 $39,130,000 $210,376 $2,330 3.19%
    39% 186 $40,690,000 $218,763 $2,274 3.10%
    42% 183 $37,975,000 $207,514 $2,306 3.16%
    41% 180 $37,800,000 $210,000 $2,324 3.19%
    45% 114 $25,920,000 $227,368 $2,216 3.05%
    48% 97 $23,035,000 $237,474 $2,287 2.98%
    46% 93 $19,605,000 $210,806 $2,540 3.12%
    47% 92 $19,890,000 $216,196 $2,209 3.02%
    49% 88 $20,080,000 $228,182 $2,197 3.02%
    50-60% 2 $480,000 $240,000 $6,326 2.94%
    >60% 2 $640,000 $320,000 $2,865 3.19%

    West Gate Bank lent most frequently to those with DTI ratios of 20-30%, with 1,931 originations. The next most common DTI ratio? 30-36%, with 1,239 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 5,955 $1,254,335,000 $210,636 $2,143 3.05%
    Not provided 299 $68,895,000 $230,418 $2,310 2.98%
    Not applicable 109 $57,665,000 $529,037 $0 4.04%
    Asian 58 $13,470,000 $232,241 $2,197 2.90%
    Black 32 $7,060,000 $220,625 $2,412 3.11%
    American Indian 15 $2,645,000 $176,333 $2,084 3.03%
    Native Hawaiian or Islander 4 $900,000 $225,000 $2,317 2.75%
    Chinese 1 $155,000 $155,000 $1,472 2.63%

    Approval Rates

    Total approvals of all applications
    97.82%

    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
    91.73%

    West Gate Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 6,473 $1,405,125,000 $217,075

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 14 $21,580,000 $1,541,429
    Single Family (1-4 Units):Site-Built 6,459 $1,383,545,000 $214,204

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 278 $36,910,000 $132,770 $1,870 3.07%
    40-60% 1,098 $214,160,000 $195,046 $1,964 2.90%
    60-80% 2,752 $642,100,000 $233,321 $2,064 3.08%
    80-100% 2,277 $478,455,000 $210,125 $2,350 3.11%
    Over 100% 42 $31,690,000 $754,524 $7,828 3.50%
    Under 20% 26 $1,810,000 $69,615 $498 3.43%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    West Coast Servicing, Inc. Conventional home mortgage Struggling to pay mortgage 1 50.0%
    West Coast Servicing, Inc. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    West Gate Bank 1004 Cornhusker Road Bellevue, NE 68005 Full Service B&M $10,554
    West Gate Bank 1020 South 179th Court Omaha, NE 68118 Full Service B&M $21,966
    West Gate Bank 1204 West O St Lincoln, NE 68528 Full Service B&M $77,863
    West Gate Bank 2037 South 17th Street Lincoln, NE 68502 Full Service B&M $43,037
    West Gate Bank 2662 Cornhusker Highway, Suite 3 Lincoln, NE 68521 Full Service B&M $23,573
    West Gate Bank 4955 O St Lincoln, NE 68510 Full Service B&M $38,525
    West Gate Bank 5555 South 27th Street Lincoln, NE 68512 Full Service B&M $0
    West Gate Bank 6003 Old Cheney Road, Suite 100 Lincoln, NE 68516 Full Service B&M $547,869
    West Gate Bank 8400 Eagle Crest Rd Lincoln, NE 68505 Full Service B&M $38,613
    West Gate Bank 9775 Q Street Omaha, NE 68127 Full Service B&M $23,661

    For 2020, West Gate Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $39,683
    Net interest income $35,930
    Total noninterest income $26,577
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,322
    Trading account gains and fees $0
    Additional Noninterest Income $25,255
    Pre-tax net operating income $26,503
    Securities gains (or losses, -) $0
    Income before extraordinary items $21,171
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $21,171
    Minority interest net income $0
    Net income $21,171
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $21,171

    West Gate Bank's gross interest income from loans was $39,683,000.
    West Gate Bank's net interest income from loans was $35,930,000.
    West Gate Bank's fee based income from loans was $1,322,000.
    West Gate Bank's net income from loans was $21,171,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,753
    Provision for credit losses $1,066
    Total noninterest expense $34,938
    Salaries and employee benefits $21,876
    Premises and equipment expense $2,019
    Additional noninterest expense $11,043
    Applicable income taxes $5,332
    Net charge-offs $59
    Cash dividends $500

    West Gate Bank's interest expense for loans was $3,753,000.
    West Gate Bank's payroll and benefits expense were $21,876,000.
    West Gate Bank's property, plant and equipment expenses $2,019,000.

    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 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    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 $788,219
    Deposits held in domestic offices $788,219
    Deposits by Individuals, partnerships, and corporations $706,032
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $78,896
    Deposits by Commercial banks and other depository institutions in U.S. $3,291
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $159,287
    Demand deposits $131,660
    Nontransaction accounts $628,932
    Money market deposit accounts (MMDAs) $178,276
    Other savings deposits (excluding MMDAs) $308,008
    Total time deposits $142,648
    Total time and savings deposits $656,559
    Noninterest-bearing deposits $243,969
    Interest-bearing deposits $544,250
    Retail deposits $739,073
    IRAs and Keogh plan accounts $8,305
    Brokered deposits $100
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $912,511
    Cash & Balances due from depository institutions $126,222
    Interest-bearing balances $107,623
    Total securities $27,111
    Federal funds sold & reverse repurchase $0
    Net loans and leases $684,617
    Loan and leases loss allowance $6,578
    Trading account assets $0
    Bank premises and fixed assets $23,956
    Other real estate owned $0
    Goodwill and other intangibles $25,877
    All other assets $24,728

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $912,511
    Total Liabilities $808,356
    Total deposits $788,219
    Interest-bearing deposits $544,250
    Deposits held in domestic offices $788,219
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $5,000
    Subordinated debt $0
    All other liabilities $15,137

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $684,617
    Loan and leases loss allowance $6,578
    Total loans and leases (domestic) $691,195
    All real estate loans $568,557
    Real estate loans in domestic offices $568,557
    Construction and development loans $69,770
    Residential 1-4 family construction $22,184
    Other construction, all land development and other land $47,586
    Loans secured by nonfarm nonresidential properties $203,184
    Nonfarm nonresidential secured by owner-occupied properties $39,322
    Commercial real estate & other non-farm, non-residential $163,862
    Multifamily residential real estate $44,982
    1-4 family residential loans $249,469
    Farmland loans $1,152
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $95,009
    To non-U.S. addressees $0
    Loans to individuals $1,417
    Credit card loans $0
    Related Plans $41
    Consumer Auto Loans $204
    Other loans to individuals $1,172
    All other loans & leases $26,212
    Loans to foreign governments and official institutions $0
    Other loans $3,547
    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 $2,100
    Non 1-4 family restructured loans & leases $2,100
    Total loans and leases (foreign) $0

    West Gate Bank had $684,617,000 of loans outstanding in 2020. $568,557,000 of loans were in real estate loans. $69,770,000 of loans were in development loans. $44,982,000 of loans were in multifamily mortgage loans. $249,469,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $204,000 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 195 $52,387 $268,651
    Nonfarm, nonresidential loans - <$100k 26 $847 $32,577
    Nonfarm, nonresidential loans - $100-250k 63 $10,024 $159,111
    Nonfarm, nonresidential loans - $250k-1MM 106 $41,516 $391,660
    Commercial & Industrial, US addressed loans - <$1MM 224 $28,185 $125,826
    Commercial & Industrial, US addressed loans - <$100k 103 $1,734 $16,835
    Commercial & Industrial, US addressed loans - $100-250k 57 $5,159 $90,509
    Commercial & Industrial, US addressed loans - $250k-1MM 64 $21,292 $332,688
    Farmland loans - <$1MM 2 $163 $81,500
    Farmland loans - $100-250k 2 $163 $81,500