Central Bank & Trust Co. first started operating in 1938 with headquarters in Lexington, Kentucky. Central Bank & Trust Co. has assets of $2 billion as well as deposits totaling $2 billion, classifying it as a large bank. Central Bank & Trust Co. 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 apps. Overall, Central Bank & Trust Co. is an average bank that leaves room for improvement, with a score of 3.8 out of 5 stars from the SmartAsset team. Central Bank & Trust Co. has a complete suite 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. The bank's standard checking account features a monthly fee of $6.00, making it a rather costly bank for checking. Locating a checking account with no monthly fee as well as a savings account with a high APY at the same institution is your best option for gaining the most income on your deposits while having easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Central Bank & Trust Co. has a savings rate of 0.25%, which is fair in comparison to the national average. Central Bank & Trust Co.'s one-year and five-year term lengths CDs earn at a rate of 1.05% and 3.00%, respectively, while its highest-yielding money market account has an APY of 0.35%. Given its noncompetitive savings rate, you should consider looking elsewhere to open savings accounts.
How Central Bank & Trust Co.'s Savings Rates Compare
Central Bank & Trust Co. has typically high fees compared to the average U.S. bank. At $6.00 per month, Central Bank & Trust Co. is not the best product for those who want a simple banking experience. Additionally, Central Bank & Trust Co. has an overdraft fee of $32.00, which is lower than the average overdraft fee charged by U.S. banks. Central Bank & Trust Co. unfortunately does not reimburse out-of-network ATM charges, meaning you'll need to locate a Central Bank & Trust Co. ATM or pay the cost of withdrawal.
Central Bank & Trust Co. is a brick-and-mortar bank, with 26 total branches in Kentucky. With mobile and web apps, Central Bank & Trust Co. makes mobile banking convenient, even on the go. It does not have all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 6 p.m. ET; Saturday, and 9:00 a.m. to 1:00 p.m. ET. Central Bank & Trust Co. gets unsatisfactory marks from users for its mobile app. The Central Bank & Trust Co. mobile app has been given a 3.0 out of 5 (with 180 reviews on iOS and Android) compared to the national average of 3.8. You can access Central Bank & Trust Co.'s app to manage your finances by checking monthly statements, sending and receiving money as well as reaching customer service. Central Bank & Trust Co. gets a superb consumer satisfaction rating due to comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.
Central Bank & Trust Co. ranks as a large bank and manages $2 billion in assets as well as deposits totaling $2 billion. It has a strong Texas Ratio of 5.46%, suggesting a tiny opportunity of failure. Additionally, Central Bank & Trust Co. 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 Central Bank & Trust Co. to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.25% APY||$1|
|Checking Account||0.25% APY||$1|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Account||0.35% APY||$10000|
Central Bank & Trust Co. offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Central Bank & Trust Co. 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. Central Bank & Trust Co.'s CD rates are fair in comparison to the average U.S. bank.Back to Overview
Find a Central Bank & Trust Co. Near Me
Central Bank & Trust Co. has 26 branches in the U.S.Back to Overview