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CNB Bank and Trust 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
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
CNB Bank and Trust Savings
0.30% APY

Overview

Our Rating: 4.4/5 How we calculated this rating

Founded in 1888, CNB Bank and Trust has $945 million in assets along with $821 million in deposits, classifying it as a medium-size bank. CNB Bank and Trust, whose headquarters are in Carlinville, Illinois, does not have the same customer service perks that others do. It is a traditional brick-and-mortar bank, which means easier access to service representatives at a physical location, in addition to its online and mobile apps. SmartAsset has rated the bank 4.4 stars out of 5, which means CNB Bank and Trust is a solid contender in your bank search. 

CNB Bank and Trust offers a complete selection of product offerings, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. CNB Bank and Trust offers a savings account with an average interest rate, making it a decent option if you need a worthier spot to hold your money than a checking account. Perfect for basic banking needs, CNB Bank and Trust's standard checking does not have a monthly charge. Using one bank for checking and savings is best when you want to get the largest interest rates on your income while maintaining convenient access to your funds.

Service Quality

CNB Bank and Trust is a brick-and-mortar bank, with 14 total bank locations in Illinois and Missouri. It also offers access to mobile and web apps for a simple mobile-banking experience.  

CNB Bank and Trust's online and mobile banking platforms get great feedback from users: with 42 ratings on Apple and Android platforms, the CNB Bank and Trust mobile app rates a 4.2 out of 5 (compared to the national average of 3.8). You can access CNB Bank and Trust's app to control your accounts by looking at monthly statements, sending and receiving funds as well as accessing support representatives. CNB Bank and Trust gets an outstanding consumer satisfaction rating due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.30% APY $100 Compare Offers
Certificates of Deposit
  • 12 Month: 1.05% APY
  • 24 Month: 1.51% APY
  • 36 Month: 1.71% APY
  • 48 Month: 2.26% APY
  • 60 Month: 2.52% APY
$1,000 for all tiers Compare Offers
Checking Accounts 0.10% APY $2,500 Compare Offers

CNB Bank and Trust has several deposit products including savings accounts, checking accounts and CDs, meaning you have many options to manage your money. CNB Bank and Trust does not have the best savings rate, which means you should think about taking a look elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. CNB Bank and Trust's CD rates are competitive compared to the national average.

Rates

CNB Bank and Trust features a savings rate of 0.30%, which is moderate in comparison to other U.S. banks. Its one-year CD earns at a rate of 1.05% and the five-year CD has a rate of 2.52%. With an average savings rate, CNB Bank and Trust's savings account can be used to prepare toward a key landmark such as retirement.

Compare CNB Bank and Trust to Other Competitive Offers

Fees

On average, CNB Bank and Trust charges its customers extremely low fees as compared against the national average. With no monthly fee, CNB Bank and Trust is ideal for people who want a simple checking account. 

Financial Health

CNB Bank and Trust is currently a medium-size bank owning assets totaling $945 million as well as deposits totaling $821 million. CNB Bank and Trust's Texas Ratio is 7.08%, signifying a tiny possibility of failure. Additionally, CNB Bank and Trust is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a CNB Bank and Trust Near Me

CNB Bank and Trust has 14 physical locations across the U.S.

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