Western Bank of Artesia, New Mexico was chartered and opened for business as Peoples State bank on August 2, 1948 on the Calvin Dunn property located at 4th and Quay in Artesia, New Mexico, the same location that the bank occupied from 1948 to 2000.
The bank was first housed in temporary quarters in a small sheet iron building which was located on the back of the lot and had formerly been used as a welding supply shop by Mr. Calvin Dunn. The first bank building was constructed in 1949 on the 4th Street site and was remodeled the first time in 1964. In 1976 additional drive-in facilities were added during the remodeling of the bank. A new bank building was constructed at Texas and Roselawn, and has been open since January of 2001.
The first Board of Directors of Peoples State Bank were J.W. Berry, Grady Booker, Hugh Moutray, H.L. Sanderson, W.W. Batie, Frank Runyan, Harold Kersey and William Siegenthaler. The bank commenced business with $100, 000 in capital stock and $50, 000 in surplus, and reserve of $50, 000. The deposits at the end of the calendar year of 1948 were $653, 849.00.
In 1980 Peoples State changed their name to Western Bank. The Western Bank has been prosperous and experienced continued growth from its inception to the present, serving the people of Artesia and the surrounding area.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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NMLS 1795154