Citizens State Bank Review

Overview

Started in 1925, Citizens State Bank has $526 million in assets and $468 million in deposits, which makes the institution a medium-size bank. Citizens State Bank, whose headquarters are in Somerville, Texas, lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. At a SmartAsset rating of 4.2 stars out of 5, Citizens State Bank should be solidly in contention for your choice of bank. Citizens State Bank offers a variety of product offerings, which include savings accounts, checking accounts, money market accounts and CDs. Citizens State Bank has a fair savings rate; you can find higher rates with other banks. Locating 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 having convenient access to your funds.

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

With a savings rate of 0.35%, Citizens State Bank ranks poorly in comparison to other U.S. banks. Its one-year CD has a rate of 1.91% and the five-year CD has a rate of 3.03%, while its highest-yielding money market account earns at an APY of 0.35%. Given Citizens State Bank's noncompetitive savings rate, you should consider choosing another bank to earn more on your deposits.

How Citizens State Bank's Savings Rates Compare

There is insufficient data on Citizens State Bank's fees to provide a full SmartAsset rating.

Citizens State Bank is a brick-and-mortar bank, with six total branches in Texas. It also offers access to mobile and web apps for an easy mobile-banking experience. Citizens State Bank gets average marks from users for its online presence. The Citizens State Bank mobile app rates a 3.9 out of 5 (out of 7 customer reviews on Apple and Android) compared to the national average of 3.8. Citizens State Bank's mobile app allows you to manage your accounts by looking at account balances, transferring funds as well as accessing support representatives. Citizens State Bank receives an exceptional consumer satisfaction rating based on comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Citizens State Bank is a medium-size bank and handles assets totaling $526 million as well as $468 million in deposits. Citizens State Bank has a strong Texas Ratio of 14.36%, denoting a small possibility of failure. Additionally, Citizens 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.

Products Offered

Citizens State Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Citizens State Bank does not have the best savings rate, which means you should think about 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. Citizens State Bank's CD rates are fair in comparison to the national average.

Find a Citizens State Bank Near Me

Citizens State Bank has six branches in the U.S.