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Elkhorn Valley Bank & Trust Review

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Elkhorn Valley Bank & Trust Savings
0.80% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1943, Elkhorn Valley Bank & Trust has assets totaling $774 million along with deposits totaling $672 million, ranking the institution as a medium-size bank. Elkhorn Valley Bank & Trust, whose headquarters are in Norfolk, Nebraska, 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. Overall, Elkhorn Valley Bank & Trust is a superb bank that you should seriously consider, with a rating of 4.6 stars out of 5 from our experts. Elkhorn Valley Bank & Trust provides customers with the complete slate of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. Using an institution with free checking and a high interest rate savings account is your best bet for accruing the most income on your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.6/5
National Average: 4.1

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

Rates

5.0
SmartAsset Average: 3.5

Elkhorn Valley Bank & Trust has a savings rate of 0.80%, which is poor compared to the national average. Its one-year CD earns at a rate of 1.80% and the five-year CD earns at a rate of 2.60%, while its highest-yielding money market account has an APY of 1.10%. Given Elkhorn Valley Bank & Trust's poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How Elkhorn Valley Bank & Trust's Savings Rates Compare

Elkhorn Valley Bank & Trust Savings 0.80 National Average 0.26 Compare Offers
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Fees

4.5
SmartAsset Average: 4.4

Elkhorn Valley Bank & Trust has typically low fees compared to the national average. For those who use cash often, it is solid because it charges an out-of-network ATM fee of $1.00, which is solid compared to other U.S. banks. Also, Elkhorn Valley Bank & Trust has an overdraft fee of $20.00, which is noticeably lower than the national average. Elkhorn Valley Bank & Trust does not refund out-of-network ATM fees, which means you will be required to search for an Elkhorn Valley Bank & Trust ATM or pay the cost of withdrawal.

Monthly Fee N/A National Average: $3.21
Non-network ATM Fee $1.00 National Average: $1.20
Overdraft Fee $20.00 National Average: $35.00
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Service Quality

3.8
SmartAsset Average: 3.7

Elkhorn Valley Bank & Trust is a brick-and-mortar bank, with 10 total branches in Nebraska. With mobile and web apps, Elkhorn Valley Bank & Trust makes mobile banking convenient, even on the go. Elkhorn Valley Bank & Trust receives moderate marks from customers for its online presence. Out of 3 ratings on Apple and Android platforms, the Elkhorn Valley Bank & Trust mobile app is scored at 3.7 out of 5 (compared to the national average of 3.8). Elkhorn Valley Bank & Trust's mobile app lets you control your funds by looking at monthly statements, transferring money and accessing support representatives. Elkhorn Valley Bank & Trust gets an outstanding consumer satisfaction rating due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.7/5
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

Elkhorn Valley Bank & Trust ranks as a medium-size bank and owns $774 million in assets as well as deposits totaling $672 million. Elkhorn Valley Bank & Trust has an excellent Texas Ratio of 1.52%, denoting a low chance of failure. Additionally, Elkhorn Valley Bank & Trust 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 Elkhorn Valley Bank & Trust to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.8% APY $1
Checking Account 0.25% APY $1
Certificates of Deposit
  • 12 Month: 1.80% APY
  • 24 Month: 2.00% APY
  • 36 Month: 2.40% APY
  • 48 Month: 2.50% APY
  • 60 Month: 2.60% APY
$1 for all terms
Money Market Account 0.8% APY $2500

Elkhorn Valley Bank & Trust offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Elkhorn Valley Bank & Trust 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. Elkhorn Valley Bank & Trust's CD rates are fair in comparison to the average U.S. bank.

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Find a Elkhorn Valley Bank & Trust Near Me

Elkhorn Valley Bank & Trust has 10 branches in the U.S.

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