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Elkhorn Valley Bank & Trust Review

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Elkhorn Valley Bank & Trust Savings
0.95% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Elkhorn Valley Bank & Trust started in 1943 and its headquarters are located in Norfolk, Nebraska. It manages assets of $774 million as well as deposits totaling $672 million, making it a medium-size bank. Elkhorn Valley Bank & Trust 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. With a score of 4.6 stars out of 5, Elkhorn Valley Bank & Trust should be near the top of your list for your bank search. Elkhorn Valley Bank & Trust has a full suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Elkhorn Valley Bank & Trust has a fair savings rate; other popular banks have higher rates. Banks that offer no-fee checking as well as a high interest rate savings account are the best option for accruing the highest income on your deposits while maintaining 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 0.95%, which is poor compared to the national average. Elkhorn Valley Bank & Trust's one-year CD earns at a rate of 2.05% and the five-year CD has a rate of 2.60%, while its highest-yielding money market account has an APY of 1.20%. Given Elkhorn Valley Bank & Trust's noncompetitive 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 0.95 National Average 0.26 Compare Offers
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Fees

4.5
SmartAsset Average: 4.4

Elkhorn Valley Bank & Trust typically has low fees in comparison to the national average. For those who frequently visit the ATM, it is solid because it has an out-of-network ATM fee of $1.00, which is solid in comparison to other U.S. banks. Also, at $20.00, its overdraft fee is significantly lower than the national average overdraft fee. Elkhorn Valley Bank & Trust does not reimburse out-of-network ATM charges, meaning you'll be required to find 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 account access straightforward, even on the go. Elkhorn Valley Bank & Trust's online and mobile banking services get fair marks from users. The Elkhorn Valley Bank & Trust mobile app scored a 3.7 out of 5 (with 3 reviews on iOS and Android) compared to the national average of 3.8. Elkhorn Valley Bank & Trust's mobile app allows you to control your bank accounts by monitoring monthly statements, transferring funds as well as accessing customer service. Elkhorn Valley Bank & Trust receives a superb consumer satisfaction score due to comparatively few consumer 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 is currently a medium-size bank with $774 million in assets and $672 million in deposits. Elkhorn Valley Bank & Trust has an excellent Texas Ratio of 1.52%, denoting that Elkhorn Valley Bank & Trust is in excellent financial shape and unlikely to fail. 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 0.95% APY $1
Checking Account 0.25% APY $1
Certificates of Deposit
  • 12 Month: 2.05% APY
  • 24 Month: 2.25% APY
  • 36 Month: 2.40% APY
  • 48 Month: 2.50% APY
  • 60 Month: 2.60% APY
$1 for all terms
Money Market Accounts 0.9% APY 1.2% APY $10000 $15000

Elkhorn Valley Bank & Trust has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Elkhorn Valley Bank & Trust 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. Elkhorn Valley Bank & Trust's CD rates are fair as compared against the national average.

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Find a Elkhorn Valley Bank & Trust Near Me

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

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