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Frederick County Bank Review

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Frederick County Bank Savings
0.03% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Founded in 2001, Frederick County Bank has assets totaling $404 million and deposits totaling $332 million, ranking it as a small bank. Frederick County Bank, whose headquarters are in Frederick, Maryland, lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. At a SmartAsset rating of 4 out of 5 stars, Frederick County Bank should be near the middle of the pack in your search for a bank. Frederick County Bank provides customers with a varied selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. Using a bank with no-fee checking as well as a high savings APY is your best bet for gaining the most income on your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

With a savings rate of 0.03%, Frederick County Bank ranks poorly in comparison to the average U.S. bank. Frederick County Bank's one-year and five-year term lengths CDs earn at a rate of 2.15% and 2.45%, respectively, while its highest-yielding money market account earns at a rate of 0.70%. Given Frederick County Bank's poor savings rate, you should consider choosing another bank to earn more on your deposits.

How Frederick County Bank's Savings Rates Compare

Frederick County Bank Savings 0.03 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

There is insufficient data on Frederick County Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Frederick County Bank is a brick-and-mortar bank, with five total bank locations. With mobile and web apps, Frederick County Bank makes account access straightforward, even on the go. Frederick County Bank's online and mobile banking services get moderate feedback from users. The Frederick County Bank mobile app scored a 3.6 out of 5 (out of 5 ratings on Apple and Android) compared to the national average of 3.8. You can access Frederick County Bank's app to control your accounts by reviewing current statements, sending and receiving money and reaching support representatives. Frederick County Bank receives a superb consumer satisfaction score due to relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Frederick County Bank is currently a small bank with $404 million in assets and $332 million in deposits. Its Texas Ratio is 11.31%, indicating that Frederick County Bank is in fine financial condition and far from failure. Additionally, Frederick County Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Frederick County Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.03% APY $25
Checking Account 0.01% APY $1
Certificates of Deposit
  • 12 Month: 2.15% APY
  • 24 Month: 2.25% APY
  • 36 Month: 2.35% APY
  • 48 Month: 2.40% APY
  • 60 Month: 2.45% APY
$1000 for all terms
Money Market Account 0.5% APY $1

Frederick County Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Frederick County Bank does not have the best savings rate, which means you should think about other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Frederick County Bank's CD rates are fair compared to other U.S. banks.

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Find a Frederick County Bank Near Me

Frederick County Bank has five locations across the U.S.

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