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Ciera Bank Review

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Ciera Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Ciera Bank started in 1889 and has its headquarters in Graham, Texas. It manages $547 million in assets and $471 million in deposits, which makes it a medium-size bank. Ciera Bank 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. With a score of 4.1 out of 5 stars, Ciera Bank should be solidly in contention for your choice of bank. Ciera Bank provides customers with a full suite of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Ciera Bank has a fair savings rate; other popular banks have higher rates. The bank's standard checking product has a monthly fee of $3.00, which is not too high as compared against the national average. Using a bank with free checking and a high interest rate savings account is the best option for gaining the highest income from your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

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

Rates

4.2
SmartAsset Average: 3.5

With a savings rate of 0.20%, Ciera Bank ranks poorly compared to the national average. Ciera Bank's one-year CD earns at a rate of 2.27% and the five-year CD earns at a rate of 3.29%, while its highest-yielding money market account earns at a rate of 0.35%. Given Ciera Bank's poor savings rate, you should think about looking elsewhere to open savings accounts.

How Ciera Bank's Savings Rates Compare

Ciera Bank Savings 0.20 National Average 0.26 Compare Offers
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Fees

3.5
SmartAsset Average: 4.4

On average, Ciera Bank charges customers high fees compared to the average U.S. bank. At $3.00 per month, Ciera Bank's checking account is less than great for those who want an easy banking experience. Ciera Bank unfortunately does not refund out-of-network ATM charges, meaning you'll need to locate a Ciera Bank ATM or pay the ATM charge.

Monthly Fee $3.00 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

3.9
SmartAsset Average: 3.7

Ciera Bank is a brick-and-mortar bank, with eight total bank locations in Texas. It also offers access to mobile and web apps for easy access and banking on the go. Ciera Bank gets moderate feedback from customers for its mobile banking services. Out of 16 customer reviews across both Apple and Android platforms, the Ciera Bank mobile app is scored at 3.9 out of 5 (compared to the national average of 3.8). You can access Ciera Bank's mobile app to manage your finances by looking at account balances, sending and receiving funds as well as reaching customer service. Ciera Bank gets an exceptional consumer satisfaction rating based on relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.9/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

Ciera Bank is a medium-size bank owning assets totaling $547 million as well as $471 million in deposits. Its Texas Ratio is 5.67%, suggesting that the bank is in fine financial shape and improbable to fail. Additionally, Ciera Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

5.67%
High Risk 75% 50% 20% 10% Low Risk

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 Ciera Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $1
Checking Account 0.2% APY $100
Certificates of Deposit
  • 12 Month: 2.27% APY
  • 24 Month: 2.68% APY
  • 36 Month: 2.88% APY
  • 48 Month: 3.02% APY
  • 60 Month: 3.29% APY
$1000 for all terms
Money Market Account 0.35% APY $10000

Ciera Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Ciera Bank does not have the best savings rate, which means you should consider other options 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. Ciera Bank's CD rates are fair compared to the national average.

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Find a Ciera Bank Near Me

Ciera Bank has eight locations in the U.S.

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