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Bank of Commerce Review

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Bank of Commerce Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Bank of Commerce was founded in 1904 and its headquarters are located in Greenwood, Mississippi. Bank of Commerce has $386 million in assets and deposits totaling $322 million, making it a small bank. Bank of Commerce 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. Coming in at a poor 3.3 out of 5 stars, Bank of Commerce proves it is a fair bank that does not stack up to some of the other banks. Bank of Commerce has a complete selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account maintains a monthly fee of $8.50, which ranks on the higher end of monthly fees. Institutions that offer free checking, in addition to a high savings APY are the best bet for getting the most income on your deposits alongside convenient access to your money.

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 0.15%, Bank of Commerce ranks poorly in comparison to other U.S. banks. Its one-year CD earns at a rate of 1.20% and the five-year CD has a rate of 2.10%, while its highest-yielding money market account has an APY of 0.50%. Given its poor savings rate, you should consider choosing another bank to earn more on your deposits.

How Bank of Commerce's Savings Rates Compare

Bank of Commerce Savings 0.15 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Bank of Commerce typically has high fees in comparison to the national average. Bank of Commerce's checking account has a monthly fee of $8.50, making it fair for anyone looking for a hassle-free account. Bank of Commerce unfortunately doesn't reimburse out-of-network ATM charges, which means you will need to locate a Bank of Commerce ATM or accept the cost of withdrawal.

Monthly Fee $8.50 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

Bank of Commerce is a brick-and-mortar bank, with seven total bank locations in Mississippi. It also offers access to a web app, for a straightforward online-banking experience. Bank of Commerce gets an excellent consumer satisfaction score based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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

SmartAsset Average: 4.8

Bank of Commerce is currently a small bank and manages $386 million in assets and deposits totaling $322 million. It has an excellent Texas Ratio of 1.47%, denoting that Bank of Commerce is in excellent financial shape and far from failure. Additionally, Bank of Commerce 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.

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Compare Bank of Commerce to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $300
Checking Account 0.1% APY $1000
Certificates of Deposit
  • 12 Month: 1.20% APY
  • 24 Month: 1.50% APY
  • 36 Month: 1.75% APY
  • 48 Month: 1.95% APY
  • 60 Month: 2.10% APY
$1000 for all terms
Money Market Account 0.5% APY $2500

Bank of Commerce has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Bank of Commerce does not have the best savings rate, which means you should think about taking a look 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. Bank of Commerce's CD rates are fair compared to the average U.S. bank.

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Find a Bank of Commerce Near Me

Bank of Commerce has seven branches in the U.S.

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