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Citizens National Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Citizens National Bank Savings
0.10% APY

Citizens National Bank emerged in Texas during the chaos of the Great Depression. It survived and still stands with its headquarters in East Texas. Today, it manages more than a dozen branches throughout the region.

It offers everything from checking, savings and money market accounts to retirement and wealth-management products. As the bank that introduced East Texas to features like TV motor banking and mobile deposit, the company remains tech-driven. It offers customers platforms like mobile and online banking, where they can monitor all accounts including certificate of deposit (CD) options.  

Read on to learn about Citizens National Bank’s account options and its overall financial health.

Products Offered

Product Key Features
Savings Account
  • One basic option with a waivable monthly service fee
Certificates of Deposit
  • Several options with terms ranging from 30 days to five years
  • Moderately high interest rates across the board
  • Rates climb with deposit balance
Money Market Accounts
  • Two options including one with tiered interest rates
  • Up to six free withdrawals per statement cycle
IRA
  • Choose from Traditional IRA and Roth IRA
Checking Accounts
  • Numerous options including one designed for teenagers and one for senior citizens
  • Several opportunities to reduce or eliminate monthly service fees

Citizens National Bank Interest Rate Comparison

Statement Savings

Key Features Details
Minimum Deposit $100
Access to Your Savings Account Online, mobile and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees $2 monthly service charge unless you meet minimum balance requirement
Current Terms and Rates 0.10% APY

If you’re looking for a barebones savings account with few fine prints and even fewer bells and whistles, Citizens National bank has you covered with its Statement Savings account. It charges a low $2 monthly service fee. However, the bank will waive it if you keep a minimum monthly balance of $100. 

The bank pays interest monthly. However, it currently offers an interest rate of 0.10%, which means it can’t beat the best savings accounts on the market today. However, the bank provides you with two free withdrawals per month. Each additional one would rack up a $2 fee. 

So it may not be the best option for those who want hassle-free access to their savings. Nonetheless, this account can serve you well if simplicity is what you’re looking for.

Certificates of Deposit (CDs)

Key Features Details
Minimum Deposit
  • $2,500/$100,000/$250,000 (available for all terms)
Access to Your CD Account Online, mobile and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees No monthly service charges, but early withdrawal penalties will apply
Current Terms and Rates
  • With Minimum Balance of $2,500 - $99,999.99 
    • 30-59 Days: 0.28% APY
    • 60-89 Days: 0.38% APY
    • 90-179 Days: 0.59% APY
    • 180-364 Days: 0.92% APY
    • 12 Months: 0.98% APY
    • 18 Months: 1.11% APY
    • 24 Months: 1.21% APY
    • 30 Months: 1.49% APY
    • 36 Months: 1.77% APY
    • 48 Months: 1.90% APY
    • 60 Months: 1.97% APY
  • With Minimum Balance of $100,000 - $249,999.99
    • 30-59 Days: 0.58% APY
    • 60-89 Days:  0.68% APY
    • 90-179 Days: 0.89% APY
    • 180-364 Days: 1.22% APY
    • 12 Months: 1.29% APY
    • 18 Months: 1.42% APY
    • 24 Months: 1.51% APY
    • 30 Months: 1.79% APY
    • 36 Months: 2.08% APY
    • 48 Months: 2.21% APY
    • 60 Months: 2.28% APY
  • With Minimum Balance of $250,000+
    • 30-59 Days: 0.68% APY
    • 60-89 Days: 0.78% APY
    • 90-179 Days: 0.99% APY
    • 180-364 Days: 1.32% APY
    • 12 Months: 1.39% APY
    • 18 Months: 1.52% APY
    • 24 Months: 1.61% APY
    • 30 Months: 1.89% APY
    • 36 Months: 2.18% APY
    • 48 Months: 2.31% APY
    • 60 Months: 2.38% APY

Through Citizens National Bank, you can open certificate of deposit (CD) accounts for terms stretching from 30 days to five years. Through its online banking platform, the bank will give you instant notifications when your CD is reaching the end of its term or the point of maturity. 

Across the board, Citizens National Bank offers some descent CD rates. APYs are highest when you make a minimum deposit of $250,000. For example, you can generate an APY of 1.80% when you deposit at least $250,000 into a 60-month (five-year) CD. However, you may find better offers with less restrictions at other banks. To lend you a hand, we’ve uncovered the best CD rates in the industry today as well as their features and requirements. 

But before you lock in your money, you might want to compare CD rates across the banking industry to see which options meet your savings needs best. 

Compare Citizens National Bank to Other Competitive Offers

Money Market Savings

Key Features Details
Minimum Deposit $1,500 
Access to Your Money Market Account Online, mobile and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees $8 monthly service fee unless you meet minimum balance requirements
Current Terms and Rates 0.10% APY

Even though you can open a Money Market Savings account through Citizens National Bank with just a $100 deposit, you’d need to maintain a minimum balance of $1,500 to earn its highest interest rate. Unfortunately, that current rate stands at the same low level as its Regular Savings counterpart. So you won’t generate much return from this account. However, the bank offers easy access to your savings should you need them. For instance, its withdrawal limit does not apply to ATM machines and Citizens National Bank branches. You can make up to six other types of withdrawals per statement cycle free of charge. Additional withdrawals would each incur a $10 fee. 

In order for the bank to waive the $8 monthly service charge, you’d have to maintain a minimum monthly balance of $1,500. If your balance falls below that threshold, this account will generate the same APY offered by the Max Checking account at the time. Currently, both offer the same rates.

Nonetheless, this isn’t the most reliable account of its type out there. You may find higher rates and better features by comparing money market accounts offered by local banks and online institutions with no geographic restrictions. 

Platinum Money Market

Key Features Details
Minimum Deposit $15,000
Access to Your Money Market Account Online, mobile and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees $12 monthly service fee unless you meet minimum balance requirement
Current Terms and Rates
  • 1 cent - $24,999.99: 0.15% APY
  • $25,000 - $99,999.99: 0.20% APY
  • $100,000 - $249,999.99: 0.35% APY
  • $250,000 - $999,999.99: 0.75% APY
  • $1 Million+: 1.00% APY

Unfortunately, this option can’t compete with the best money market accounts on the market today. To generate its current peak APY of 0.700%, you’d need to keep a balance of at least $1 million. You can find money market accounts that offer better rates without such stringent requirements at other local and online banks. In addition, you need to maintain a minimum monthly balance of at least $15,000 to waive its $12 monthly service charge. 

But if you appreciate face-to-face customer support and branch access, Citizens National Bank allows you to make six free withdrawals from this account per month. Of course, this limit won’t apply to ATM withdrawals and those made at Citizens National Bank branches or by mail.  

Individual Retirement Accounts 

Key Features Details
Minimum Deposit $500
Access to Your IRA Online, mobile and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees No monthly service fee, but early withdrawal penalties will apply
Current Terms and Rates Varies. Contact your local branch

Citizens National Bank offers some flexible options when it comes to retirement planning. For example, you can open either an individual retirement account (IRA) or a Roth IRA. 

Similar to 401(k) plans, IRAs take pre-tax contributions. This means your money grows tax-free until you make qualified withdrawals when you’re at least 59.5 years old. So this option may suit you if you expect to be in a lower tax bracket upon entering your golden years. 

On the other hand, Roth IRAs take after-tax dollars. So qualified withdrawals are tax-free. Generally speaking, you have to begin taking distributions from an IRA when you reach age 70.5. However, this rule doesn’t apply to Roth IRAs. 

But to decide which option is right for you and whether you should open one through Citizens National Bank, you should seek a qualified tax advisor or financial advisor. To help you locate the right one for you, we developed our find a financial advisor tool. It asks you some simple questions in order to recommend up to three advisors in your area who may meet your needs based on your answers to our questions. You can then review their credentials and even set up interviews before making a decision. 

True Checking

Key Features Details
Minimum Deposit $100
Access to Your Checking Account Online, mobile and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees $3 monthly service fee unless you meet certain requirements

This is Citizens National Bank’s basic checking account. It’s very simple to manage and provides some useful features. For instance, you can waive the $3 monthly service charge by opting-in for receiving eStatements. You don’t have to meet any minimum balance requirements. So if you’re used to doing most or all of your banking online and you’re looking for a transparent checking option with no strings attached, this account may be right for you. 

Citizens National Bank offers the following free features to all of its checking account customers. 

  • Online banking and bill pay
  • Debit card
  • Mobile banking
  • eStatements

Max Checking

Key Features Details
Minimum Deposit $100
Access to Your Checking Account Online, mobile and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees $7 monthly service charge, which can be reduced or eliminated by completing certain tasks
Current Terms and Rates 0.10% APY on balances of $500+

This Interest-earning checking account provides several benefits. Plus, Citizens National Bank gives you several opportunities to reduce or avoid its $7 monthly service fee. For example, you can reduce the fee by $3 if you opt-in for receiving eStatements. You can also slash the fee by 20 cents for every debit card transaction excluding ATM transactions. However, you can avoid the fee entirely by maintaining a minimum daily balance of $3,000. 

In addition, the bank lets you make up to four non-ATM withdrawals per statement cycle. As you can see, this checking account functions more like a savings account. So it might not be the best option for those who withdraw money from their checking accounts on a regular basis. Furthermore, you can earn interest only on balances of more than $500. Its current APY also can’t help this account compete with the best checking accounts in the industry.  

Max Sr. Checking Account

Key Features Details
Minimum Deposit $100
Access to Your Checking Account Online, mobile and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees $5 monthly service charge, which can be reduced or eliminated if you complete certain tasks 
Current Terms and Rates 0.10% APY

The Max Sr. Checking account functions similarly to its Max counterpart. However, it’s designed for customers who are at least 62-years-old, and it offers exclusive features. Account holders get one free box of Citizens National Bank checks per year. 

The monthly service charge also dips to $5. You can reduce it by $3 if you sign up to receive eStatements. Or you can cut it down by 20 cents per debit card transaction excluding ATM transactions. Maintaining a minimum daily balance of $3,000 would eliminate the fee. 

Elite Checking

Key Features Details
Minimum Deposit $500
Access to Your Checking Account Online, mobile and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees $15 monthly service fee unless you meet certain requirements
Current Terms and Rates
  • For balances of $5,000 - $9,999.99: 0.05% APY
  • For balances of $10,000 - $24,999.99: 0.05% APY
  • For balances of $25,000 - $49,999.99: 0.05% APY
  • For balances of $50,000 - $99,999.99: 0.10% APY
  • For balances of $100,000+: 0.10% APY

The Elite Checking Account from Citizens National Bank offers a range of perks that may appeal to the more affluent client. It generates a tiered interest rate, which means it can increase as your balance breaches different intervals. The bank will also waive the costly $15 monthly service fee if you maintain a minimum daily balance of $5,000. Furthermore, the bank will also eliminate it if you keep a combined minimum daily deposit balance of $10,000 among all your personal deposit accounts excluding CDs. You can also avoid the fee by having a combined minimum daily loan principal balance of $25,000 with the bank. 

In addition, this account offers the following bonuses:

  • 8 free non-branch ATM withdrawals per statement cycle
  • Complimentary small safe deposit box where available (not FDIC insured)
  • Complimentary official checks and incoming wires

Renew Checking

Key Features Details
Minimum Deposit $25
Access to Your Checking Account Online, mobile and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees $14.95 monthly service fee, or $9.95 if you set up a direct deposit

Citizens National Bank designed this account to help consumers rebuild their financial strength. You can open one with $25. It offers free online bill pay. In addition, you can reduce the monthly service fee to $9.95 by establishing direct deposit. 

However, the bank doesn’t give you the chance to eliminate the monthly service fee on this account. And outside of its low opening balance, it doesn't offer many features specifically geared toward helping people replenish their financial health. Thus, other checking options offered by Citizens National Bank may be more suitable for those looking to rebalance their financial foothold. 

Student Checking

Key Features Details
Minimum Deposit $25
Access to Your Checking Account Online, mobile and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees $3 monthly service fee unless you sign up to receive eStatements

Designed for customers between the ages of 16 and 21, the Student Checking account by Citizens National Bank offers considerably less restrictions than its other checking options. For example, Student Checking charges one of the bank’s lowest monthly service charges at $3. However, you can avoid it by signing up for eStatements.

Account holders also get the following free bonuses: 

  • 2 free non-CNB ATM withdrawals per statement cycle 
  • First order of 50 CNB duplicate checks

In addition, this product converts to a True Checking account once the owner reaches age 22. But keep in mind that this account aloso functions a bit like a savings or money market account option with withdrawal limitations. So students who often use cash as opposed to plastic may want to look elsewhere. To narrow down your options, we’ve published an in-depth analysis of the best savings accounts for kids available today.

Branch Locations

Citizens National Bank currently manages more than 20 branches throughout several Texas communities including Henderson, Tyler and Longview. You can reach their main customer service line by dialing 877-566-2621.

Financial Statistics & Bank Health Rating

Citizens National Bank has $1.73 billion in assets and has issued loans totalling $1.05 billion, according to the latest data published by the FDIC. Its customers have $1.54 billion in deposits. If you’re thinking about adding to that sum by opening an account with Citizens National Bank, you can examine its Texas Ratio. This industry-recognized metric serves as a good indicator that helps you determine a bank’s reliability. It is calculated by dividing the amount of non-performing assets (unbacked current loans and real estate owned) by the sum of the bank’s tangible equity capital and its loan loss allowances. Citizens National Bank holds a Texas Ratio of 4.29%, which means it’s deemed excellent in reliability. Banks with ratios near 100% are deemed at risk of covering their bad debts.

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