Wedbush Bank opened for business in 2008.  The bank is headquartered in Los Angeles, California.  Wedbush Bank is a wholly owned subsidiary of WEDBUSH, Inc.  Wedbush Bank has been FDIC insured since February 29, 2008.  The bank is chartered as a Savings Association.  Therefore the primary regulator is the Office of Thrift Supervision (OTS). 

Wedbush Bank ended 2008 with total assets of $58,568,000 and total deposits of $37,437,000.  The bank has approximately 15 full time employees.  Net income for 2008 was a loss of -$813,000.

WEDBUSH, Inc. is a leading financial services and investment firm that, through its holdings, provides private and institutional brokerage, investment banking, private capital, research, and asset management to individual, institutional and issuing clients.  Wedbush Morgan Securities is the firm’s largest holding and is one of the largest full-service investment banking and brokerage firms headquartered in the western United States.  In additional to its primary ownership of Wedbush Morgan Securities, WEDBUSH makes investments in both publicly traded and privately held companies.

Wedbush Bank most recent performance ratios.
As of December 31, 2008:

Return on assets (ROA) -2.34%
Return on equity (ROE) -4.12%
Yield on earning assets 3.99% 
Cost of funding earning assets 0.59% 
Net interest margin 3.41%
Noncurrent loans to loans 0
Equity capital to assets 34.31% 
Core capital (leverage) ratio 33.66% 
Tier 1 risk-based capital ratio 127.19% 
Total risk-based capital ratio 127.52%

Wedbush Bank products and services:

Bank products include: Wedbush Connection checking, health care savings account, gold checking accounts, interest checking accounts, green checking, savings account, certificates of deposit, money market account, premium money market account, Individual Retirement Accounts.  Wedbush Bank also offers fast approval and convenient terms on loans for everything from a used car to an airplane.  Loan products include: home equity loans and equity lines of credit, personal lines of credit and personal loans.  Business products include: business interest checking accounts, entrepreneurial checking, professional checking accounts, corporate checking accounts, IOLTA checking, business savings accounts, business money market accounts, business certificates of deposit.  Business lending options include: business installment loans, term loans, commercial real estate loans, SBA loans, import letters of credit, equipment leasing, cash management accounts, sweep account, line of credit sweep account, zero balance accounts, positive pay, merchant card services, account reconcilement, lock box, cash vault.  In addition the bank offers business and consumer credit cards, telephone and mobile banking, consumer and business Internet banking access.

Wedbush Bank branch bank locations:

Mailing Address
Wedbush Bank
P.O. Box 512237
Los Angeles, CA 90051
866- 933-2874

Wedbush Bank offers through its headquarters location, sophisticated technology, and the WEDBUSH network of 35 offices in 11 states.

Wedbush Bank web address: www.wedbushbank.com.

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