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Bruning State Bank Review

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Bruning State Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1891, Bruning State Bank has $355 million in assets along with deposits totaling $273 million, making the institution a small bank. Bruning State Bank, whose headquarters are in Bruning, Nebraska, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. At a SmartAsset rating of 4.5 out of 5 stars, Bruning State Bank should be solidly in contention for your choice of bank. Bruning State Bank offers a full array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. Bruning State Bank has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Bruning State Bank's ordinary checking account does not have a monthly fee. Finding a checking account with no monthly fee and a savings account with a high APY at the same institution is your best bet for getting the most income on your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.5/5
National Average: 4.1

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

Rates

3.8
SmartAsset Average: 3.5

Bruning State Bank features a savings rate of 0.25%, which is poor in comparison to the average U.S. bank. Bruning State Bank's one-year CD earns at a rate of 1.16% and the five-year CD earns at a rate of 2.37%, while its highest-yielding money market account has an APY of 0.40%. Given its below average savings rate, you should consider choosing another bank to earn more on your deposits.

How Bruning State Bank's Savings Rates Compare

Bruning State Bank Savings 0.25 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Bruning State Bank generally has extremely low fees compared to the average U.S. bank. With no monthly fee, Bruning State Bank is ideal for those who want a basic checking account. Bruning State Bank unfortunately doesn't reimburse out-of-network ATM charges, meaning you'll have to find a Bruning State Bank ATM or accept the ATM charge.

Monthly Fee $0 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

4.3
SmartAsset Average: 3.7

Bruning State Bank is a brick-and-mortar bank, with five total bank locations in Nebraska. With mobile and web apps, Bruning State Bank makes mobile banking easy, even on the go. Bruning State Bank's online and mobile banking services receive high marks from customers. The Bruning State Bank mobile app scored a 4.6 out of 5 (with 15 customer reviews on iOS and Android) compared to the national average of 3.8. You can use Bruning State Bank's mobile app to control your bank accounts by reviewing monthly statements, sending and receiving money and reaching support representatives. Bruning State Bank receives a superb consumer satisfaction rating due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

5.0
SmartAsset Average: 4.8

Bruning State Bank ranks as a small bank owning $355 million in assets and $273 million in deposits. Its Texas Ratio is 1.31%, denoting a low probability of failure. Additionally, Bruning 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.

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Compare Bruning State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $1
Checking Account 0.25% APY $1
Certificates of Deposit
  • 12 Month: 1.16% APY
  • 24 Month: 2.52% APY
  • 36 Month: 2.12% APY
  • 48 Month: 2.37% APY
  • 60 Month: 2.37% APY
$500 for all terms
Money Market Account 0.4% APY $25000

Bruning 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. Bruning State Bank 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. Bruning State Bank's CD rates are fair compared to the average U.S. bank.

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Find a Bruning State Bank Near Me

Bruning State Bank has five physical locations in the U.S.

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