Established in 1913, American State Bank has $870 million in assets as well as $716 million in deposits, making it a medium-size bank. American State Bank, whose headquarters are in Sioux Center, Iowa, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. On the whole, American State Bank is a superb bank that would be an ideal pick, with a score of 4.7 out of 5 stars from the SmartAsset experts. American State Bank has a complete array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, brokerage accounts, mortgage products and credit cards. American State Bank has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, American State Bank offers an option without a maintenance or monthly fee. Using a bank with no-fee checking as well as a high savings APY is your best option for accruing the highest income from your deposits while maintaining convenient access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
American State Bank features a savings rate of 0.99%, which is fair as compared against the national average. Its one-year CD has a rate of 2.50% and the five-year CD has a rate of 3.00%, while its highest-yielding money market account has an APY of 1.10%. Given its noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.
How American State Bank's Savings Rates Compare
American State Bank generally has extremely low fees compared to the average U.S. bank. American State Bank's checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. American State Bank unfortunately does not refund out-of-network ATM fees, meaning you'll need to find an American State Bank ATM or accept the ATM charge.
American State Bank is a brick-and-mortar bank, with nine total bank locations in Iowa and South Dakota. It also offers access to mobile and web apps for a straightforward mobile-banking experience. American State Bank's online and mobile banking platforms get positive feedback from users. With 150 ratings on both iOS and Android platforms, the American State Bank mobile app is scored at 4.8 out of 5 (compared to the national average of 3.8). You can access American State Bank's app to manage your finances by looking at account balances, sending and receiving funds as well as reaching support representatives. American State Bank gets an excellent consumer satisfaction rating due to comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
American State Bank is currently a medium-size bank and handles $870 million in assets as well as $716 million in deposits. Its Texas Ratio is 15.53%, suggesting a tiny possibility of failure. Additionally, American State Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.
Texas Ratio Analysis
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.Back to Overview
Compare American State Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.99% APY||$1|
|Checking Account||0.4% APY||$1000|
|Certificates of Deposit|| ||$5000 for all terms|
|Money Market Accounts||1.05% APY 1.1% APY||$10000 $15000|
American State Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. American State Bank does not have the best savings rate, which means you should consider looking elsewhere 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. American State Bank's CD rates are fair in comparison to the national average.Back to Overview
Find a American State Bank Near Me
American State Bank has nine physical branches across the U.S.Back to Overview