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Hickory Point Bank and Trust Review

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Hickory Point Bank and Trust Savings
0.07% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1979, Hickory Point Bank and Trust has assets totaling $631 million as well as $561 million in deposits, classifying it as a medium-size bank. Hickory Point Bank and Trust, whose headquarters are in Decatur, Illinois, has above-average access to customer service with a live chat feature, which is helpful for those that work during typical customer service hours. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. At a SmartAsset rating of 4.3 out of 5 stars, Hickory Point Bank and Trust should be solidly in contention for your choice of bank. Hickory Point Bank and Trust has a mixture of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. Finding an institution with free checking as well as a high interest rate savings account is your best bet for getting the most income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

Hickory Point Bank and Trust features a savings rate of 0.07%, which is poor compared to other U.S. banks. Its one-year CD earns at a rate of 0.40% and the five-year CD has a rate of 1.55%, while its highest-yielding money market account earns at an APY of 0.35%. Given its below average savings rate, you should think about choosing another bank to earn more on your deposits.

How Hickory Point Bank and Trust's Savings Rates Compare

Hickory Point Bank and Trust Savings 0.07 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Hickory Point Bank and Trust has typically extremely low fees compared to the national average. For those who will need cash in a pinch, Hickory Point Bank and Trust is ideal because it charges no out-of-network ATM fees. Hickory Point Bank and Trust does not refund out-of-network ATM charges, which means you will be required to locate a Hickory Point Bank and Trust ATM or eat the withdrawal fee.

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

4.3
SmartAsset Average: 3.7

Hickory Point Bank and Trust is a brick-and-mortar bank, with nine total bank locations in Illinois. It also offers access to mobile and web apps for easy access and banking on the go. Hickory Point Bank and Trust also offers a live chat feature, a helpful way to reach a representative during the work day. Hickory Point Bank and Trust's online and mobile banking platforms receive moderately high ratings from users. Out of 13 ratings on iOS and Android platforms, the Hickory Point Bank and Trust mobile app rates a 4.2 out of 5 (compared to the national average of 3.8). You can utilize Hickory Point Bank and Trust's mobile app to manage your funds by checking monthly statements, transferring money and accessing customer service. Hickory Point Bank and Trust gets an outstanding consumer satisfaction score based on relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

5.0
SmartAsset Average: 4.8

Hickory Point Bank and Trust is a medium-size bank with assets totaling $631 million as well as deposits totaling $561 million. Its Texas Ratio is 1.46%, signifying that the bank is in outstanding financial health and far from failure. Additionally, Hickory Point Bank and 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 Hickory Point Bank and Trust to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.07% APY $200
Checking Account 0.03% APY $1
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.80% APY
  • 36 Month: 1.05% APY
  • 48 Month: 1.40% APY
  • 60 Month: 1.55% APY
$1000 for all terms
Money Market Accounts 0.35% APY 0.35% APY $10000 $15000

Hickory Point Bank and 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. Hickory Point Bank and 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. Hickory Point Bank and Trust's CD rates are fair in comparison to other U.S. banks.

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Find a Hickory Point Bank and Trust Near Me

Hickory Point Bank and Trust has nine physical branches in the U.S.

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