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Denmark State Bank Review

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

Overview

Denmark State Bank started in 1909 and is headquartered in Denmark, Wisconsin. Denmark State Bank handles $462 million in assets along with deposits totaling $402 million, making it a medium-size bank. Denmark State Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. Coming in at a commendable 4.2 out of 5 stars, Denmark State Bank is a solid pick to be your bank. Denmark State Bank offers a mixture of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Denmark 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 savings APY is your best option for gaining the highest income on your deposits while having easy access to your money.

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

3.5
SmartAsset Average: 3.5

Denmark State Bank has a savings rate of 0.05%, which is fair compared to the national average. Denmark State Bank's CD rates are 1.28% and 2.25% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.30%. Given its below average savings rate, you should think about taking a look at other banks for savings accounts.

How Denmark State Bank's Savings Rates Compare

Denmark 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 Denmark 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

4.1
SmartAsset Average: 3.7

Denmark State Bank is a brick-and-mortar bank, with six total branches in Wisconsin. With mobile and web apps, Denmark State Bank makes mobile banking convenient, even on the go. Denmark State Bank's online and mobile banking services receive moderately decent scores from users. Out of 16 ratings across both Apple and Android platforms, the Denmark State Bank mobile app rates a 4.2 out of 5 (compared to the national average of 3.8). You can use Denmark State Bank's mobile app to manage your accounts by reviewing current statements, transferring money as well as reaching customer service. Denmark State Bank gets an exceptional consumer satisfaction score due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

Denmark State Bank ranks as a medium-size bank with $462 million in assets as well as $402 million in deposits. It has an excellent Texas Ratio of 2.15%, suggesting a minute likelihood of failure. Additionally, Denmark 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 Denmark State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $200
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 1.28% APY
  • 24 Month: 1.45% APY
  • 36 Month: 1.70% APY
  • 48 Month: 2.00% APY
  • 60 Month: 2.25% APY
$500 for all terms
Money Market Account 0.2% APY $10000

Denmark State Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Denmark State Bank does not have the best savings rate, which means you should think about 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. Denmark State Bank's CD rates are fair as compared against the national average.

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Find a Denmark State Bank Near Me

Denmark State Bank has six locations across the U.S.

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