Evergreen Bank Group Review

Overview

Established in 1999, Evergreen Bank Group has $878 million in assets as well as deposits totaling $782 million, classifying it as a medium-size bank. Evergreen Bank Group, whose headquarters are in Oak Brook, Illinois, 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 access to service representatives at a physical location, in addition to its online and mobile apps. Coming in at a commendable 4.2 out of 5 stars, Evergreen Bank Group proves it is a great choice and should warrant serious consideration. Evergreen Bank Group offers a variety of product offerings, 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. If you're looking for a checking account for everyday use, Evergreen Bank Group's standard checking account does not have a monthly fee. Locating an institution with free checking, in addition to a high interest rate savings account is the best option for getting the highest income on your deposits alongside convenient access to your funds.

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

Evergreen Bank Group has a savings rate of 0.50%, which is poor in comparison to the average U.S. bank. Evergreen Bank Group's CD rates are 0.80% and 1.30% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.65%. Given its below average savings rate, you should consider other options to earn more on your deposits.

How Evergreen Bank Group's Savings Rates Compare

Evergreen Bank Group charges its customers low fees compared to the average U.S. bank. Its checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. For those who will need cash in a pinch, it is good because it charges an out-of-network ATM fee of $1.00, which is good as compared against the national average. Additionally, it has an overdraft fee of $35.00, which is on par with that of other U.S. banks. Evergreen Bank Group unfortunately does not reimburse out-of-network ATM charges, which means you'll have to locate an Evergreen Bank Group ATM or pay the ATM charge.

Evergreen Bank Group is a brick-and-mortar bank, with three total bank locations in Illinois. With mobile and web apps, Evergreen Bank Group makes mobile banking convenient, even on the go. Evergreen Bank Group gets unsatisfactory feedback from customers for its mobile banking services. The Evergreen Bank Group mobile app has an overall rating of 2.9 out of 5 (out of 8 reviews on Apple and Android) compared to the national average of 3.8. You can access Evergreen Bank Group's app to control your bank accounts by looking at account balances, transferring funds and accessing support representatives. Evergreen Bank Group gets an exceptional consumer satisfaction rating based on comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Evergreen Bank Group ranks as a medium-size bank and handles assets totaling $878 million as well as deposits totaling $782 million. Its Texas Ratio is 0.74%, denoting that Evergreen Bank Group is in excellent financial shape and improbable to fail. Additionally, Evergreen Bank Group 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.

Products Offered

Evergreen Bank Group offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Evergreen Bank Group does not have the best savings rate, which means you should think about looking 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. Evergreen Bank Group's CD rates are fair compared to the average U.S. bank.

Find a Evergreen Bank Group Near Me

Evergreen Bank Group has three locations across the U.S.