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American National Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
American National Bank American National Bank
0.05% APY

Founded in 1856, American National Bank is one of the largest privately owned banks in Nebraska. Branch locations are mostly clustered around the greater Omaha area, where the bank is also headquartered. The bank offers a number of savings account and checking account options, as well as a money market account (MMA) and several certificates of deposit (CDs).

Online banking is available for most accounts once the accounts have been opened, but you'll have to visit a branch in order to open any account. For this reason, you're going to want to live in the greater Omaha or Council Bluffs, Iowa area in order to become an American National Bank customer.

If you do live in the area, you may be interested in one of the accounts offered at American National Bank. Read on to go through the ins and outs of each option and see if one may be suited to your financial needs.

Products Offered

Products Key Features
Savings Accounts
  • Low, easily waivable monthly fee
  • $100 minimum opening balance
Money Market Accounts
  • Tiered interest rates based on balance
  • $8 monthly service fee
Certificates of Deposit
  • Terms ranging from seven days to five years
  • Special rates can be accessed with connected checking account
Checking Accounts
  • Interest-bearing and non-interest-bearing options
  • $100 minimum opening balance for all accounts

American National Bank Interest Rate Comparison

Savings I Account

Key Features Details
Minimum Deposit $100
Access to Your Savings Account Online, mobile, ATM and branch access
Security FDIC insured up to the maximum amount allowed by law
Fees $2 monthly service fee, which can be waived with a minimum daily balance of $100
Current Terms and Rates 0.05% APY

The Savings I account is the only conventional savings account offered at American National Bank (there is no Savings II or Savings III). It offers a very accessible $100 minimum opening balance, and as long as you don’t fall below that balance, you won’t have to worry about the $2 monthly service fee. The 0.05% APY could be worse, but it’s still a far cry from the best savings accounts available nationwide.

In-person and ATM withdrawals are unlimited with this account, but preauthorized transfers (online bill payments, online banking transfers, etc.) are limited to six per statement cycle. You’ll be charged $5 for each excessive transaction. If you regularly exceed this limit, you’ll face the risk of your account being either closed or converted into a different type of account.

Consumer Money Market Account

Key Features Details
Minimum Deposit $2,500
Access to Your Money Market Account Online, mobile, ATM and branch access
Security FDIC insured up to the maximum amount allowed by law
Fees $8 monthly service fee, which can be waived with minimum daily balance of $2,500
Current Terms and Rates
  • 10K tier: 2.05% APY

The Consumer Money Market account comes with a higher minimum opening balance than the savings account, but it also affords you the opportunity to earn interest at much higher rates. The $8 monthly service fee is fairly low for money market accounts, and you’ll waive it as long as you stay above the minimum balance.

Like the Savings I account, interest is compounded monthly and you’re limited to six pre-authorized transfers per statement cycle. With this account, however, you’ll pay $15.50 for each excessive transaction, so be extra wary.

Compare American National Bank to Other Competitive Offers

Certificates of Deposit

Key Features Details
Minimum Deposit Can range from $2,000 - $5,000
Access to Your CD Account Online, mobile and branch access
Security FDIC insured up to the maximum amount allowed by law
Fees No monthly service fee, but you will pay a penalty if you withdraw early
Current Terms and Rates
  • 12 Month: 0.15% APY
  • 24 Month: 0.30% APY
  • 36 Month: 0.40% APY
  • 48 Month: 0.50% APY
  • 60 Month: 0.75% APY

American National Bank offers a wide-ranging collection of certificate of deposit (CD) accounts with term lengths as short as seven days and as long as five years. The bank also offers a few special CDs with rates rising above 2% that customers with existing checking accounts will have access to. These special offerings can come and go, however, so make sure to call your preferred branch at the above number for the most accurate information.

Direct Checking Account

Key Features Details
Minimum Deposit $100
Access to Your Checking Account Online, mobile, ATM and branch access
Security FDIC insured up to the maximum amount allowed by law
Fees $5 monthly service fee, which can be waived if either
  • there is a direct deposit attached to your account
  • You are under 22 or over 55 years old

The Direct Checking account is the only non-interest-bearing checking account offered at American National Bank. If you attach a direct deposit to the account, you can do away with the $5 monthly service fee. Other features like unlimited ATM access and a debit card also come with this account.

Smart Checking Account

Key Features Details
Minimum Deposit $100
Access to Your Checking Account Online, mobile, ATM and branch access
Security FDIC insured up to the maximum amount allowed by law
Fees No monthly service fee
Current Terms and Rates
  • Account balances of up to $10,000: 1.07% APY
  • Account balances above $10,000: 0.05% APY

The Smart Checking Account earns interest on funds up to $10,000 at a competitive rate for a checking account, provided that you meet a few qualifications. First, you need to have at least 12 debit transactions and three ACH transactions (direct deposit, automatic bill pay, etc.) during each statement cycle. You also need to opt for eStatements over paper statements. For any funds over $10,000 you have in the account, you'll earn interest at a 0.08% APY. But as a bonus, you don't have a monthly service fee to worry about.

Relationship Checking Account

Key Features Details
Minimum Deposit $100
Access to Your Checking Account Online, mobile, ATM and branch access
Security FDIC insured up to the maximum amount allowed by law
Fees $6 monthly service fee, which can be waived with an account balance of $750 and qualifying relationship accounts
Current Terms and Rates 0.05% APY

If you already have a savings or money market account with American National Bank, then you may be interested in opening a Relationship Checking Account. This account will earn interest provided you keep your balance above $750, although the rate is lower than that of the Smart Checking account. $750 is also the amount you'll need to waive the monthly fee, but you'll also have to make sure your connected account is meeting its minimum requirements, otherwise that fee might reappear.

STAR Checking Account

Key Features Details
Minimum Deposit $100
Access to Your Checking Account Online, mobile, ATM and branch access
Security FDIC insured up to the maximum amount allowed by law
Fees $15 monthly service fee, which can be waived with a balance of $10,000
Current Terms and Rates
  • Account balances of $5,000 - $24,999.99: 0.03% APY
  • Account balances of $25,000 - $49,999.99: 0.15% APY
  • Account balances of $50,000 - $99,999.99: 0.35% APY
  • Account balances of $100,000 and above: 0.50% APY

The STAR Checking Account has a relatively hefty monthly fee that isn't so easy to waive. You have the opportunity to earn interest at higher rates, but you'll need to have serious amounts of money in your account to do so (you won't earn any interest unless you have a balance of at least $5,000). At that point, you might be better served to look at something like a CD. One perk is that the bank won't ever charge you for using a foreign ATM, although you may still have to worry about third party fees occasionally.

Branch Locations

American National Bank operates 30 different branch locations in Nebraska and Iowa. It also has 79 ATMs covering a larger geographic area but still confined to those two states.

Financial Statistics and Bank Health Rating

American National Bank has $3.57 billion in assets and $2.81 billion in loans. Its customers currently hold $2.85 billion in deposits.

An important factor when deciding whether you should trust a bank with your deposits is its Texas ratio. The Texas ratio indicates how risky the bank’s current credit situation is. It’s calculated by dividing the amount of non-performing assets (unbacked current loans and real estate owned) by the sum of the bank’s tangible equity capital and its loan loss allowances. Ratios nearing 100% indicate a precarious credit situation for the bank. American National Bank’s ratio is 1.75%, which is considered excellent.

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