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Community Bank of Mississippi Review

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Community Bank of Mississippi Savings
0.40% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1905, Community Bank of Mississippi has $927 million in assets as well as deposits totaling $797 million, classifying it as a medium-size bank. Community Bank of Mississippi, whose headquarters are in Forest, Mississippi, 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, Community Bank of Mississippi is a solid contender in your bank search, with a score of 4.2 stars out of 5 from our team. Community Bank of Mississippi has a full suite of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. Locating a checking account with no monthly fee and a savings account with a high interest rate at the same institution is the best bet for accruing the most income from your deposits while having convenient 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

4.1
SmartAsset Average: 3.5

Community Bank of Mississippi features a savings rate of 0.40%, which is fair compared to other U.S. banks. Community Bank of Mississippi's one-year CD has a rate of 1.15% and the five-year CD earns at a rate of 2.40%, while its highest-yielding money market account earns at a rate of 0.30%. Given its poor savings rate, you should think about taking a look at other banks for savings accounts.

How Community Bank of Mississippi's Savings Rates Compare

Community Bank of Mississippi Savings 0.40 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Community Bank of Mississippi'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

4.0
SmartAsset Average: 3.7

Community Bank of Mississippi is a brick-and-mortar bank, with 48 total branches in Alabama, Florida, Mississippi and Tennessee. With mobile and web apps, Community Bank of Mississippi makes mobile banking convenient, even on the go. Community Bank of Mississippi gets moderately high marks from customers for its mobile banking services. Out of 170 ratings across Apple and Android platforms, the Community Bank of Mississippi mobile app rates a 4.1 out of 5 (compared to the national average of 3.8). You can use Community Bank of Mississippi's mobile app to manage your accounts by checking account balances, transferring funds and reaching support representatives. Community Bank of Mississippi receives a superb consumer satisfaction score based on comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.5
SmartAsset Average: 4.8

Community Bank of Mississippi is a medium-size bank owning assets totaling $927 million and deposits totaling $797 million. Its Texas Ratio is 11.16%, denoting a small chance of failure. Additionally, Community Bank of Mississippi is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

11.16%
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 Mississippi to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.4% APY $1
Checking Account 0.3% APY $1000
Certificates of Deposit
  • 12 Month: 1.15% APY
  • 24 Month: 1.40% APY
  • 36 Month: 1.80% APY
  • 48 Month: 2.15% APY
  • 60 Month: 2.40% APY
$1000 for all terms
Money Market Accounts 0.3% APY 0.3% APY $10000 $15000

Community Bank of Mississippi has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Community Bank of Mississippi does not have the best savings rate, which means you should consider 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 Mississippi's CD rates are fair compared to the average U.S. bank.

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Find a Community Bank of Mississippi Near Me

Community Bank of Mississippi has 48 branches in the U.S.

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