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Evergreen Bank Group Review

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Evergreen Bank Group Savings
0.50% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1999, Evergreen Bank Group has $878 million in assets as well as $782 million in deposits, classifying it as a medium-size bank. Evergreen Bank Group, whose headquarters are in Oak Brook, Illinois, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. SmartAsset has rated Evergreen Bank Group 4.2 stars out of 5, suggesting it is a great bank that you should seriously consider. Evergreen Bank Group provides customers with the complete slate 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 interested in stress-free personal checking, Evergreen Bank Group's ordinary checking account does not have a monthly fee. Locating an institution with free checking and a high savings APY is the best bet for accruing the highest income from your deposits alongside easy access to your funds.

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

4.0
SmartAsset Average: 3.5

With a savings rate of 0.50%, Evergreen Bank Group ranks poorly compared to other U.S. banks. Its one-year CD has a rate of 2.10% and the five-year CD has a rate of 2.50%, while its highest-yielding money market account earns at a rate of 0.65%. Given its poor savings rate, you should think about other options to earn more on your deposits.

How Evergreen Bank Group's Savings Rates Compare

Evergreen Bank Group Savings 0.50 National Average 0.26 Compare Offers
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Fees

4.5
SmartAsset Average: 4.4

Evergreen Bank Group has typically low fees in comparison to other U.S. banks. Evergreen Bank Group's checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. For those who often visit the ATM, it is solid because it charges an out-of-network ATM fee of $1.00, which is solid in comparison to the average U.S. bank. Additionally, at $35.00, Evergreen Bank Group's overdraft fee is lower than the average U.S. overdraft fee. Evergreen Bank Group unfortunately doesn't reimburse out-of-network ATM charges, meaning you'll have to find an Evergreen Bank Group ATM or pay the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $1.00 National Average: $1.20
Overdraft Fee $35.00 National Average: $35.00
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Service Quality

3.4
SmartAsset Average: 3.7

Evergreen Bank Group is a brick-and-mortar bank, with three total branches in Illinois. It also offers access to mobile and web apps for simple access and banking on the go. Evergreen Bank Group's online and mobile banking platforms receive poor feedback from users. Out of 8 customer reviews on iOS and Android platforms, the Evergreen Bank Group mobile app has an overall rating of 2.9 out of 5 (compared to the national average of 3.8). Evergreen Bank Group's mobile app lets you manage your accounts by looking at monthly statements, sending and receiving money as well as accessing support representatives. Evergreen Bank Group gets a superb consumer satisfaction score due to comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 2.9/5
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

Evergreen Bank Group ranks as a medium-size bank with $878 million in assets as well as deposits totaling $782 million. Evergreen Bank Group's Texas Ratio is 0.74%, suggesting that Evergreen Bank Group is in superb financial health and unlikely 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.

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Compare Evergreen Bank Group to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.5% APY $100
Certificates of Deposit
  • 12 Month: 2.10% APY
  • 24 Month: 2.40% APY
  • 36 Month: 2.40% APY
  • 48 Month: 2.40% APY
  • 60 Month: 2.50% APY
$1000 for all terms
Money Market Accounts 0.4% APY 0.65% APY $10000 $15000

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

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Find a Evergreen Bank Group Near Me

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

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