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Commerce State 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
Commerce State Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Commerce State Bank first started operating in 2005 with headquarters in West Bend, Wisconsin. It manages $575 million in assets along with deposits totaling $493 million, ranking it as a medium-size bank. Commerce State Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. On the whole, Commerce State Bank is a good bank that gets the job done, with a rating of 3.9 stars out of 5 from our experts. Commerce State Bank provides customers with a full choice of product offerings, including savings accounts, checking accounts, money market accounts, CDs and credit cards. Commerce State Bank has a fair savings rate; other popular banks have higher rates. Using an institution with no-fee checking as well as a high interest rate savings account is your best option for returning the most income on your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

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

Rates

3.7
SmartAsset Average: 3.5

With a savings rate of 0.05%, Commerce State Bank ranks poorly compared to other U.S. banks. Its one-year CD earns at a rate of 1.55% and the five-year CD has a rate of 2.70%, while its highest-yielding money market account earns at an APY of 0.50%. Given Commerce State Bank's below average savings rate, you should think about other options to earn more on your deposits.

How Commerce State Bank's Savings Rates Compare

Commerce State Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

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

Monthly Fee N/A 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

2.9
SmartAsset Average: 3.7

Commerce State Bank is a brick-and-mortar bank, with four total bank locations in Wisconsin. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Commerce State Bank gets inferior feedback from customers for its mobile platform. The Commerce State Bank mobile app scored a 2.0 out of 5 (with 1 customer reviews on iOS and Android) compared to the national average of 3.8. You can use Commerce State Bank's app to manage your accounts by looking at current statements, sending and receiving funds and reaching customer service. Commerce State Bank receives an outstanding consumer satisfaction rating based on comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 2.0/5
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

Commerce State Bank is currently a medium-size bank owning assets totaling $575 million and deposits totaling $493 million. Its Texas Ratio is 1.09%, signifying that the bank is in terrific financial condition and far from failure. Additionally, Commerce 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 Commerce State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $2000
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 1.55% APY
  • 24 Month: 1.80% APY
  • 36 Month: 2.05% APY
  • 48 Month: 2.40% APY
  • 60 Month: 2.70% APY
$5000 for all terms
Money Market Accounts 0.25% APY 0.5% APY $10000 $15000

Commerce State Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Commerce State Bank does not have the best savings rate, which means you should consider 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. Commerce State Bank's CD rates are fair compared to other U.S. banks.

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Find a Commerce State Bank Near Me

Commerce State Bank has four physical locations in the U.S.

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