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CNB 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 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 Savings
0.03% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

CNB Bank first started operating in 1917 with its headquarters in Berkeley Springs, West Virginia. It handles $365 million in assets along with deposits totaling $303 million, making it a small bank. CNB Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. At a SmartAsset rating of 4.2 out of 5 stars, CNB Bank should be solidly in contention for your choice of bank. CNB Bank offers a full selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. CNB Bank has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, CNB Bank offers an option without a maintenance or monthly fee. Finding an institution with free checking, in addition to a high interest rate savings account is the best bet for getting the highest income from your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

CNB Bank has a savings rate of 0.03%, which is poor in comparison to the national average. Its one-year CD has a rate of 0.15% and the five-year CD has a rate of 2.50%, while its highest-yielding money market account earns at an APY of 0.05%. Given its below average savings rate, you should consider choosing another bank to earn more on your deposits.

How CNB Bank's Savings Rates Compare

CNB Bank Savings 0.03 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, CNB Bank charges customers extremely low fees compared to the average U.S. bank. With no monthly fee, CNB Bank's checking account is ideal for people who want a hassle-free checking account. CNB Bank does not reimburse out-of-network ATM charges, which means you will have to search for a CNB Bank ATM or eat the fee.

Monthly Fee $0 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

4.1
SmartAsset Average: 3.7

CNB Bank is a brick-and-mortar bank, with eight total bank locations in West Virginia. It also offers access to mobile and web apps for a simple mobile-banking experience. CNB Bank's online and mobile banking platforms get moderately high praise from customers. The CNB Bank mobile app has an overall rating of 4.3 out of 5 (out of 17 ratings on iOS and Android) compared to the national average of 3.8. CNB Bank's mobile app allows you to manage your finances by checking current statements, sending and receiving money as well as reaching support representatives. CNB Bank gets an exceptional consumer satisfaction rating due to relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

CNB Bank is a small bank owning $365 million in assets and $303 million in deposits. It has a strong Texas Ratio of 6.57%, denoting a small opportunity of failure. Additionally, CNB Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

6.57%
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 CNB Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.03% APY $50
Checking Account 0.03% APY $500
Certificates of Deposit
  • 12 Month: 0.15% APY
  • 24 Month: 0.35% APY
  • 36 Month: 0.55% APY
  • 60 Month: 2.50% APY
$500 for all terms
Money Market Accounts 0.05% APY 0.05% APY $10000 $15000

CNB 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. CNB Bank does not have the best savings rate, which means you should consider 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. CNB Bank's CD rates are fair compared to the average U.S. bank.

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Find a CNB Bank Near Me

CNB Bank has eight locations across the U.S.

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