Libertyville Bank & Trust Company Review

Overview

Libertyville Bank & Trust Company first started operating in 1995 and its headquarters are located in Libertyville, Illinois. It owns $1 billion in assets as well as deposits totaling $1 billion, which makes it a medium-size bank. Libertyville Bank & Trust Company lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. On the whole, Libertyville Bank & Trust Company is a respectable bank that gets the job done, with a rating of 4.1 out of 5 stars from the SmartAsset team. Libertyville Bank & Trust Company provides customers with a complete suite of product offerings, including savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. Libertyville Bank & Trust Company has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Libertyville Bank & Trust Company's ordinary checking account does not have a monthly fee. Banks that offer no-fee checking, in addition to a high savings APY are the best option for getting the highest income from your deposits while maintaining easy access to your funds.

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

Libertyville Bank & Trust Company has a savings rate of 0.20%, which is fair compared to the national average. Its CDs feature a rate of 0.20% and 0.80% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.30%. Given Libertyville Bank & Trust Company's below average savings rate, you should consider other options to earn more on your deposits.

How Libertyville Bank & Trust Company's Savings Rates Compare

On average, Libertyville Bank & Trust Company charges customers extremely low fees in comparison to the national average. With no monthly fee, Libertyville Bank & Trust Company's checking account is ideal for those who need a hassle-free checking account. For those who will need cash in a pinch, Libertyville Bank & Trust Company is perfect because it has no out-of-network ATM fees. Libertyville Bank & Trust Company doesn't reimburse out-of-network ATM fees, which means you'll have to locate a Libertyville Bank & Trust Company ATM or pay the cost of withdrawal.

Libertyville Bank & Trust Company is a brick-and-mortar bank, with eight total branches in Illinois. It also offers access to mobile and web apps for a simple mobile-banking experience. Libertyville Bank & Trust Company gets moderate marks from customers for its mobile platform. Out of 25 ratings on both Apple and Android platforms, the Libertyville Bank & Trust Company mobile app is scored at 3.6 out of 5 (compared to the national average of 3.8). Libertyville Bank & Trust Company's mobile app allows you to control your bank accounts by monitoring account balances, sending and receiving money as well as accessing support representatives. Libertyville Bank & Trust Company gets a superb consumer satisfaction score based on relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Libertyville Bank & Trust Company ranks as a medium-size bank with $1 billion in assets and deposits totaling $1 billion. Its Texas Ratio is 4.57%, suggesting a minute probability of failure. Additionally, Libertyville Bank & Trust Company 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.

Products Offered

Libertyville Bank & Trust Company has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Libertyville Bank & Trust Company does not have the best savings rate, which means you should think about 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. Libertyville Bank & Trust Company's CD rates are fair in comparison to the average U.S. bank.

Find a Libertyville Bank & Trust Company Near Me

Libertyville Bank & Trust Company has eight physical locations in the U.S.