Iowa State Bank was founded in 1879 and its headquarters are located in Hull, Iowa. It manages $604 million in assets as well as deposits totaling $449 million, classifying it as a medium-size bank. Iowa State Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional 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 4.5 stars out of 5, Iowa State Bank should be solidly in contention for your choice of bank. Iowa State Bank provides customers with a full array of banking products, including 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, the bank's most basic checking account does not have a monthly charge. Locating 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 convenient access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.40%, Iowa State Bank ranks poorly compared to other U.S. banks. Iowa State Bank's one-year CD has a rate of 2.01% and the five-year CD has a rate of 2.67%, while its highest-yielding money market account earns at an APY of 0.50%. Given its noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.
How Iowa State Bank's Savings Rates Compare
Iowa State Bank typically has extremely low fees in comparison to the average U.S. bank. With no monthly fee, Iowa State Bank is ideal for people who want a simple banking experience. Iowa State Bank does not refund out-of-network ATM fees, meaning you will need to locate an Iowa State Bank ATM or accept the withdrawal fee.
Iowa State Bank is a brick-and-mortar bank, with nine total bank locations in Iowa. With mobile and web apps, Iowa State Bank makes account access easy, even on the go. Iowa State Bank's online and mobile banking services get moderate marks from customers. With 38 ratings on Apple and Android platforms, the Iowa State Bank mobile app rates a 3.9 out of 5 (compared to the national average of 3.8). Iowa State Bank's mobile app lets you manage your accounts by monitoring current statements, transferring funds and reaching support representatives. Iowa State Bank receives a superb consumer satisfaction rating due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
Iowa State Bank is a medium-size bank and manages $604 million in assets and $449 million in deposits. Iowa State Bank's Texas Ratio is 0.26%, denoting that Iowa State Bank is in outstanding financial condition and far from failure. Additionally, Iowa State Bank 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 Iowa State Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.4% APY||$1|
|Checking Account||0.25% APY||$500|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.5% APY 0.5% APY||$10000 $15000|
Iowa State Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Iowa State Bank 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. Iowa State Bank's CD rates are fair in comparison to the average U.S. bank.Back to Overview
Find a Iowa State Bank Near Me
Iowa State Bank has nine locations in the U.S.Back to Overview