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Kitsap Bank Review

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Kitsap Bank Savings
0.03% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Kitsap Bank first started operating in 1908 and its headquarters are located in Port Orchard, Washington. It has assets of $1 billion along with deposits totaling $995 million, which makes it a medium-size bank. Kitsap 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 in-person service, in addition to its online and mobile apps. Overall, Kitsap Bank is a good bank that gets the job done, with a score of 4.0 stars out of 5 from the SmartAsset team. Kitsap Bank provides customers with the complete slate of banking products, which include savings accounts, checking accounts, money market accounts, CDs, brokerage accounts and mortgage products. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking account maintains a monthly fee of $5.00, which places it at the higher end of monthly fees. Finding a bank with free checking, in addition to a high savings APY is your best bet for returning the most income from your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

Kitsap Bank has a savings rate of 0.03%, which is fair as compared against the national average. Kitsap Bank's one-year CD earns at a rate of 0.40% and the five-year CD has a rate of 1.61%, while its highest-yielding money market account has a rate of 0.07%. Given Kitsap Bank's below average savings rate, you should think about opting for higher earning savings accounts with other banks.

How Kitsap Bank's Savings Rates Compare

Kitsap Bank Savings 0.03 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Kitsap Bank charges customers above-average fees compared to the national average. At $5.00 per month, Kitsap Bank is less than great for people who want a simple checking account. For those who visit the ATM often, Kitsap Bank is fair because it has an out-of-network ATM fee of $2.00, which is reasonable as compared against the national average. Additionally, it has an overdraft fee of $34.00, which is lower than the national average overdraft fee. Kitsap Bank unfortunately doesn't reimburse out-of-network ATM fees, meaning you'll be required to find a Kitsap Bank ATM or eat the ATM charge.

Monthly Fee $5.00 National Average: $3.21
Non-network ATM Fee $2.00 National Average: $1.20
Overdraft Fee $34.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Kitsap Bank is a brick-and-mortar bank, with 22 total bank locations in Washington. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not offer all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 5:00 p.m. PT; Saturday, and 9:00 a.m. to 12:00 p.m. PT. Kitsap Bank's online and mobile banking platforms get high praise from users. The Kitsap Bank mobile app is rated at 4.5 out of 5 (out of 110 customer reviews on Apple and Android) compared to the national average of 3.8. Kitsap Bank's mobile app lets you manage your finances by looking at current statements, sending and receiving money and accessing customer service. Kitsap Bank gets an exceptional consumer satisfaction score due to relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Kitsap Bank is a medium-size bank and owns assets totaling $1 billion and deposits totaling $995 million. It has an excellent Texas Ratio of 0.16%, suggesting that Kitsap Bank is in terrific financial condition and far from failure. Additionally, Kitsap 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.

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Compare Kitsap Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.025% APY $1
Checking Account 0.01% APY $1
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.60% APY
  • 36 Month: 0.80% APY
  • 48 Month: 0.95% APY
  • 60 Month: 1.61% APY
$5000 for all terms
Money Market Account 0.075% APY $1

Kitsap Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Kitsap Bank 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. Kitsap Bank's CD rates are fair compared to the national average.

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Find a Kitsap Bank Near Me

Kitsap Bank has 22 locations in the U.S.

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