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Community Bank of Louisiana Review

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Community Bank of Louisiana Savings
0.12% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Community Bank of Louisiana was founded in 1901 with headquarters in Mansfield, Louisiana. Community Bank of Louisiana handles assets of $494 million along with deposits totaling $457 million, ranking it as a medium-size bank. Community Bank of Louisiana 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 access to service representatives at a physical location, in addition to its online and mobile offerings. With a score of 3.4 stars out of 5, Community Bank of Louisiana should be more closely analyzed to see if its services fit your needs. Community Bank of Louisiana provides customers with a mixture of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Community Bank of Louisiana has a fair savings rate; you can find higher rates with other banks. The bank's standard checking product carries a monthly fee of $3.50, which ranks on the higher end of monthly fees. Locating a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is your best option for accruing the most income from your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.4/5
National Average: 4.1

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

Rates

3.4
SmartAsset Average: 3.5

With a savings rate of 0.12%, Community Bank of Louisiana ranks poorly in comparison to the average U.S. bank. Community Bank of Louisiana's one-year CD has a rate of 1.00%, while its highest-yielding money market account has a rate of 0.12%. Given Community Bank of Louisiana's below average savings rate, you should think about taking a look at other banks for savings accounts.

How Community Bank of Louisiana's Savings Rates Compare

Community Bank of Louisiana Savings 0.12 National Average 0.26 Compare Offers
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Fees

3.0
SmartAsset Average: 4.4

Community Bank of Louisiana has generally high fees as compared against the national average. Community Bank of Louisiana's checking account has a monthly fee of $3.50, making it fair for anyone looking for a hassle-free account. Community Bank of Louisiana doesn't reimburse out-of-network ATM fees, meaning you'll have to find a Community Bank of Louisiana ATM or eat the ATM charge.

Monthly Fee $3.50 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

2.5
SmartAsset Average: 3.7

Community Bank of Louisiana is a brick-and-mortar bank, with 10 total bank locations in Louisiana. With mobile and web apps, Community Bank of Louisiana makes account access straightforward, even on the go. You can utilize Community Bank of Louisiana's app to control your bank accounts by monitoring current statements, sending and receiving funds and accessing support representatives. Community Bank of Louisiana gets an excellent consumer satisfaction rating due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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

4.8
SmartAsset Average: 4.8

Community Bank of Louisiana ranks as a medium-size bank and handles assets totaling $494 million as well as $457 million in deposits. Community Bank of Louisiana's Texas Ratio is 5.53%, indicating a small chance of failure. Additionally, Community Bank of Louisiana is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

5.53%
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 Community Bank of Louisiana to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.12% APY $500
Checking Account 0.12% APY $5000
Certificates of Deposit
  • 12 Month: 1.00% APY
  • 24 Month: 1.51% APY
  • 36 Month: 1.51% APY
$2500 for all terms
Money Market Account 0.1% APY $5000

Community Bank of Louisiana has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Community Bank of Louisiana 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. Community Bank of Louisiana's CD rates are fair as compared against the national average.

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Find a Community Bank of Louisiana Near Me

Community Bank of Louisiana has 10 physical branches across the U.S.

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