Founded in 1899, Edmonton State Bank has $490 million in assets as well as deposits totaling $402 million, ranking the institution as a medium-size bank. Edmonton State Bank, whose headquarters are in Glasgow, Kentucky, lacks premium access to support representatives, with no options for live chat or all-day service. 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. At a SmartAsset rating of 4 stars out of 5, Edmonton State Bank should be near the middle of the pack in your search for a bank. Edmonton State Bank offers a selection of banking products, which include savings accounts, checking accounts, CDs, IRAs and mortgage products. Edmonton State Bank has a fair savings rate compared to the average savings account. The bank's standard checking product features a $8.00 monthly fee, making it a rather pricey bank for checking. Locating a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best bet for getting the most income on your deposits alongside easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.50%, Edmonton State Bank ranks poorly in comparison to the national average. Its CDs feature a rate of 1.76% and 3.03% for the one-year and five-year term lengths, respectively. Given its noncompetitive savings rate, you should consider choosing another bank to earn more on your deposits.
How Edmonton State Bank's Savings Rates Compare
Edmonton State Bank typically has high fees in comparison to the average U.S. bank. Edmonton State Bank's checking account has a monthly fee of $8.00, rating it fair for anyone looking for a hassle-free account. Edmonton State Bank doesn't refund out-of-network ATM fees, meaning you'll have to find an Edmonton State Bank ATM or pay the fee.
Edmonton State Bank is a brick-and-mortar bank, with 13 total bank locations in Kentucky. It also offers access to mobile and web apps for simple access and banking on the go. Edmonton State Bank gets high praise from users for its online presence. The Edmonton State Bank mobile app is rated at 4.7 out of 5 (with 19 ratings on iOS and Android) compared to the national average of 3.8. Edmonton State Bank's mobile app allows you to manage your finances by looking at monthly statements, transferring money as well as accessing support representatives. Edmonton State Bank gets a superb consumer satisfaction score due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
Edmonton State Bank ranks as a medium-size bank and has assets totaling $490 million as well as $402 million in deposits. Its Texas Ratio is 2.63%, signifying a low likelihood of failure. Additionally, Edmonton 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.Back to Overview
Compare Edmonton State Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.5% APY||$25|
|Checking Account||0.3% APY||$2500|
|Certificates of Deposit|| ||$5000 for all terms|
Edmonton State Bank has several deposit products including savings accounts, checking accounts and CDs to give you many options to manage your money. Edmonton State Bank 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. Edmonton State Bank's CD rates are fair as compared against the national average.Back to Overview
Find a Edmonton State Bank Near Me
Edmonton State Bank has 13 physical branches in the U.S.Back to Overview