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City State Bank Review

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City State Bank Savings
0.55% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

City State Bank first started operating in 1895 with its headquarters in Norwalk, Iowa. It manages $372 million in assets as well as deposits totaling $327 million, ranking it as a small bank. City State Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Overall, City State Bank is an outstanding bank that you should seriously consider, with a rating of 4.5 out of 5 stars from the SmartAsset team. City State Bank provides customers with the full slate of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. City State Bank has a fair savings rate compared to the average savings account. Obtaining a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same bank is the best bet for accruing the most income from your deposits while having convenient access to your money.

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

4.4
SmartAsset Average: 3.5

City State Bank has a savings rate of 0.55%, which is fair as compared against the national average. Its one-year and five-year term lengths CDs earn at a rate of 1.85% and 3.00%, respectively, while its highest-yielding money market account earns at an APY of 0.55%. Given City State Bank's below average savings rate, you should think about taking a look at other banks for savings accounts.

How City State Bank's Savings Rates Compare

City State Bank Savings 0.55 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, City State Bank charges its customers extremely low fees compared to other U.S. banks. Additionally, City State Bank has an overdraft fee of $27.00, which is considerably lower than the national average. City State Bank unfortunately does not reimburse out-of-network ATM fees, meaning you'll have to locate a City State Bank ATM or accept the cost of withdrawal.

Monthly Fee N/A National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $27.00 National Average: $35.00
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Service Quality

3.6
SmartAsset Average: 3.7

City State Bank is a brick-and-mortar bank, with nine total bank locations in Iowa. With mobile and web apps, City State Bank makes mobile banking straightforward, even on the go. City State Bank gets poor feedback from users for its mobile app. Out of 13 customer reviews across iOS and Android platforms, the City State Bank mobile app is scored at 3.3 out of 5 (compared to the national average of 3.8). You can access City State Bank's app to manage your finances by reviewing account balances, sending and receiving money and reaching support representatives. City State Bank gets a superb consumer satisfaction score due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.3/5
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

City State Bank is currently a small bank and handles assets totaling $372 million as well as $327 million in deposits. It has an excellent Texas Ratio of 0.95%, signifying a minute probability of failure. Additionally, City 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 City State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.55% APY $1
Checking Account 0.4% APY $1000
Certificates of Deposit
  • 12 Month: 1.85% APY
  • 24 Month: 2.25% APY
  • 36 Month: 2.50% APY
  • 48 Month: 2.75% APY
  • 60 Month: 3.00% APY
$500 for all terms
Money Market Accounts 0.55% APY 0.55% APY $10000 $15000

City 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. City State Bank does not have the best savings rate, which means you should think about 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. City State Bank's CD rates are fair in comparison to the national average.

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Find a City State Bank Near Me

City State Bank has nine physical locations in the U.S.

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