Farmers Bank & Trust started in 1907 and has its headquarters in Great Bend, Kansas. Farmers Bank & Trust manages $793 million in assets and $528 million in deposits, making it a medium-size bank. Farmers Bank & Trust 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 experts rated the bank 4.5 out of 5 stars, which means Farmers Bank & Trust is a top-tier bank that warrants a serious look. Farmers Bank & Trust has a full selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Farmers Bank & Trust has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Farmers Bank & Trust's ordinary checking account does not have a monthly fee. Locating a checking account with no monthly fee as well as a savings account with a high APY at the same bank is the best option for accruing the most income from your deposits alongside easy access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Farmers Bank & Trust has a savings rate of 0.60%, which is poor in comparison to other U.S. banks. Its one-year CD has a rate of 2.00% and the five-year CD earns at a rate of 2.40%, while its highest-yielding money market account has a rate of 0.95%. Given its poor savings rate, you should consider taking a look at other banks for savings accounts.
How Farmers Bank & Trust's Savings Rates Compare
Farmers Bank & Trust has generally extremely low fees in comparison to other U.S. banks. With no monthly fee, Farmers Bank & Trust's checking account is ideal for people who want a hassle-free banking experience. Farmers Bank & Trust unfortunately doesn't refund out-of-network ATM charges, which means you'll need to search for a Farmers Bank & Trust ATM or eat the ATM charge.
Farmers Bank & Trust is a brick-and-mortar bank, with nine total bank locations in Kansas. With mobile and web apps, Farmers Bank & Trust makes mobile banking easy, even on the go. It does not provide access to all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 5:00 p.m. CT; Saturday, and 8:00 a.m. to 12:00 p.m. CT. Farmers Bank & Trust's online and mobile banking services receive moderately high ratings from customers. With 45 ratings on Apple and Android platforms, the Farmers Bank & Trust mobile app rates a 4.3 out of 5 (compared to the national average of 3.8). You can utilize Farmers Bank & Trust's mobile app to control your bank accounts by looking at current statements, transferring funds as well as reaching support representatives. Farmers Bank & Trust receives a superb consumer satisfaction rating due to relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
Farmers Bank & Trust ranks as a medium-size bank with assets totaling $793 million and $528 million in deposits. Its Texas Ratio is 4.25%, indicating a negligible probability of failure. Additionally, Farmers 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.Back to Overview
Compare Farmers Bank & Trust to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.6% APY||$2501|
|Checking Account||0.22% APY||$1001|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.9% APY 0.95% APY||$10000 $15000|
Farmers Bank & Trust has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Farmers Bank & Trust does not have the best savings rate, which means you should consider other options 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. Farmers Bank & Trust's CD rates are fair as compared against the national average.Back to Overview
Find a Farmers Bank & Trust Near Me
Farmers Bank & Trust has nine physical locations in the U.S.Back to Overview