Great Western Bank (merged into First Interstate Bank)
Great Western Bank reported total assets of $13.3 bn at Q4 2021, its last Call Report before it merged into First Interstate Bank. The CET1 capital ratio at Great Western Bank was 15.32%, and the uninsured share of Great Western Bank was 40.18%. Source: FDIC Call Reports.
Key takeaways
- Since , Great Western Bank has taken over one institution; the latest was Home Federal Bank on (FDIC Call Reports).
What sets Great Western Bank apart
How large is Great Western Bank?
The balance sheet of Great Western Bank at : assets $13.3 bn, deposits $11.8 bn, net loans $7.9 bn (loans equal to 67.00% of deposits). Securities make up 21.1% of total assets at Great Western Bank. Since , when Great Western Bank held $9.9 bn, its assets grew 34.3%. In the year to , deposits at Great Western Bank rose 3.3% while its total assets rose 4.1%. At , Great Western Bank employed 1,648 full-time equivalent staff across 176 offices, about $8.1 mn of assets per employee and $67.0 mn of deposits per office.
How much funding at Great Western Bank is uninsured?
At Great Western Bank, uninsured deposits (above the FDIC limit) made up 40.18% of domestic deposits at (+1.87 pp on a year earlier). In dollars, Great Western Bank estimated $4.7 bn of uninsured deposits.
Key facts, Q4 2021
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $11.8 bn | $11.4 bn (Q4 2020) | |
| Net loans and leases | $7.9 bn | $9.2 bn (Q4 2020) | |
| Loan-to-deposit ratio | 67.00% | 80.73% (Q4 2020) | |
| Tier 1 leverage ratio | 10.68% | 9.69% (Q4 2020) | |
| Total risk-based capital ratio | 16.24% | 13.92% (Q4 2020) | |
| Net interest margin | 3.18% | 3.58% (Q4 2020) | |
| Return on assets (ROA) | 1.61% | -5.28% (Q4 2020) | |
| Efficiency ratio | 51.13% | 60.17% (Q4 2020) | |
| Unrealized gain/loss on held-to-maturity securities | Loss of $6.9 mn | Turned from a gain into a loss | |
| Unrealized gain/loss on available-for-sale securities | Loss of $14.1 mn | Turned from a gain into a loss | |
| Noncurrent loans to total loans | 1.96% | 3.07% (Q4 2020) | |
| Net charge-offs to average loans | 0.31% | 0.65% (Q4 2020) |
US rank of Great Western Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Great Western Bank: assets, deposits and loans
- Total assets $13.3bn
- Deposits $11.8bn
- Net loans $7.9bn
Capital and securities
The CET1 ratio of Great Western Bank stood at 15.32% in , +2.66 pp year on year. Low and high at Great Western Bank since : 10.88% () to 15.32% (). Equity capital of Great Western Bank at : $1.3 bn, or 9.7% of total assets. Great Western Bank also reported a total capital ratio of 16.24% for , and a tier 1 leverage ratio of 10.68%.
On held-to-maturity securities, Great Western Bank carried an unrealized loss of $6.9 mn at , equal to 0.5% of equity capital. The loss turned from a gain into a loss over the year. The available-for-sale portfolio of Great Western Bank showed an unrealized loss of $14.1 mn at ; the loss turned from a gain into a loss over the year.
Great Western Bank: capital ratios
- Total capital 16%
- CET1 15%
- Tier 1 leverage 11%
Great Western Bank: unrealized securities gains and losses
- Available for sale -$14mn
- Held to maturity -$7mn
Profitability and loan quality
For the year to , Great Western Bank earned a return on equity of 17.20%; return on assets: 1.61%. Net interest margin at Great Western Bank: 3.18%, -0.41 pp in a year. Great Western Bank net income: $210.0 mn, down 131.3% year on year. The efficiency ratio of Great Western Bank was 51.13%: about 51 cents cost per revenue dollar, against 53 cents at the median peer.
At , noncurrent loans were 1.96% of total loans at Great Western Bank; net charge-offs: 0.31% of average loans. Gross loans and leases at Great Western Bank: $8.1 bn at , against $9.5 bn at .
Great Western Bank: profitability
- Return on equity 17%
- Net interest margin 3.2%
- Return on assets 1.6%
Peer group of Great Western Bank
The peer group of Great Western Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 1 shares the charter type of Great Western Bank (state nonmember bank) and 0 have head offices in South Dakota. Against them, Great Western Bank shows CET1 ratio 15.32% against a peer median of 12.46%, return on equity 17.20% against a peer median of 10.54% and uninsured deposit share 40.18% against a peer median of 46.03%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Axos Bank | Federal savings bank | CA | $14.0 bn | 10.91% | 18.55% | 17.31% | |
| Provident Bank | State-chartered stock savings bank | NJ | $13.8 bn | 10.87% | 10.54% | 47.86% | |
| Enterprise Bank & Trust | State member bank | MO | $13.5 bn | 12.46% | 10.55% | 52.12% | |
| Great Western Bank | State nonmember bank | SD | $13.3 bn | 15.32% | 17.20% | 40.18% | |
| First Financial Bank | State member bank | TX | $13.1 bn | 17.00% | 14.00% | 36.01% | |
| Israel Discount Bank of New York | State nonmember bank | NY | $13.0 bn | 12.47% | 8.06% | 61.86% | |
| TriState Capital Bank | State member bank | PA | $12.9 bn | 14.22% | 10.31% | 44.19% | |
. FDIC Call Reports.
Last eight quarters
Two years at Great Western Bank, to : assets $12.4 bn to $13.3 bn, deposits $10.2 bn to $11.8 bn, equity $1.2 bn to $1.3 bn. Staff 1,651 to 1,648; offices 177 to 176.
| Metric | Q1 2020 | Q2 2020 | Q3 2020 | Q4 2020 | Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $12.4 bn | $12.9 bn | $12.6 bn | $12.8 bn | $13.0 bn | $13.1 bn | $12.9 bn | $13.3 bn |
| Total deposits | $10.2 bn | $11.2 bn | $11.0 bn | $11.4 bn | $11.6 bn | $11.6 bn | $11.3 bn | $11.8 bn |
| Bank equity capital | $1.2 bn | $1.2 bn | $1.2 bn | $1.1 bn | $1.2 bn | $1.2 bn | $1.3 bn | $1.3 bn |
| CET1 ratio | 11.26% | 11.22% | 11.71% | 12.66% | 13.51% | 14.44% | 15.10% | 15.32% |
| Return on equity (ROE) | -185.72% | -99.38% | -67.68% | -49.56% | 18.60% | 19.38% | 18.65% | 17.20% |
| Uninsured share of domestic deposits | 31.78% | 35.90% | 36.41% | 38.31% | 37.32% | 39.18% | 39.28% | 40.18% |
| Full-time equivalent employees | 1,651 | 1,673 | 1,672 | 1,646 | 1,621 | 1,662 | 1,648 | 1,648 |
| Number of offices | 177 | 177 | 177 | 177 | 177 | 176 | 176 | 176 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Great Western Bank, oldest first; figures before and after each event are not like for like.
- . Absorbed Home Federal Bank (FDIC certificate 28092).
- . Merged into First Interstate Bank (FDIC certificate 1105).
Questions and identifiers
What were the total assets of Great Western Bank?
Great Western Bank reported $13.3 bn at in its Call Report.
Is Great Western Bank the same as its holding company?
No. This page covers Great Western Bank, FDIC certificate 15289; GREAT WESTERN BCORP INC (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Great Western Bank profitable?
Great Western Bank reported net income of $210.0 mn for the year to ; annualized return on equity: 17.20%. So yes: Great Western Bank made a profit over these months.
When is data for Great Western Bank next updated?
Great Western Bank no longer files Call Reports; its data ends at .
Where can I check the figures for Great Western Bank?
In the FDIC BankFind Suite record for certificate 15289, and in the Call Reports of Great Western Bank (RSSD ID 131650) at the FFIEC Central Data Repository.