Founded in 2004, CoastalStates Bank has assets totaling $531 million along with deposits totaling $373 million, classifying the institution as a medium-size bank. CoastalStates Bank, whose headquarters are in Hilton Head Isla, South Carolina, 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 offerings. Overall, CoastalStates Bank is an average bank that leaves room for improvement, with a score of 3.7 stars out of 5 from our experts. CoastalStates Bank has a full selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. CoastalStates Bank has a fair savings rate; other popular banks have higher rates. Using a bank with no-fee checking, in addition to a high interest rate savings account is the best option for returning the highest income from your deposits alongside convenient access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
CoastalStates Bank features a savings rate of 0.15%, which is fair in comparison to the national average. Its one-year and five-year term lengths CDs earn at a rate of 0.25% and 1.15%, respectively, while its highest-yielding money market account earns at a rate of 0.18%. Given CoastalStates Bank's below average savings rate, you should consider opting for higher earning savings accounts with other banks.
How CoastalStates Bank's Savings Rates Compare
There is insufficient data on CoastalStates Bank's fees to provide a full SmartAsset rating.
CoastalStates Bank is a brick-and-mortar bank, with five total branches in South Carolina. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not have all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Thursday, 8:30 a.m. to 5:00 p.m. HI, Friday, and 8:30 a.m. to 5:30 p.m. HI. CoastalStates Bank gets moderate marks from users for its mobile app. With 12 customer reviews across Apple and Android platforms, the CoastalStates Bank mobile app rates a 3.6 out of 5 (compared to the national average of 3.8). CoastalStates Bank's mobile app lets you control your funds by monitoring monthly statements, sending and receiving funds and accessing support representatives. CoastalStates Bank receives an excellent consumer satisfaction rating based on comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
CoastalStates Bank is a medium-size bank with $531 million in assets and $373 million in deposits. CoastalStates Bank has a strong Texas Ratio of 15.92%, signifying that CoastalStates Bank is in fine financial condition and unlikely to fail. Additionally, CoastalStates 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.Back to Overview
Compare CoastalStates Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.15% APY||$1|
|Checking Account||0.05% APY||$1|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.05% APY 0.18% APY||$10000 $15000|
CoastalStates Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. CoastalStates Bank does not have the best savings rate, which means you should think about taking a look 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. CoastalStates Bank's CD rates are fair as compared against the national average.Back to Overview
Find a CoastalStates Bank Near Me
CoastalStates Bank has five physical branches across the U.S.Back to Overview