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Libertyville Bank & Trust Company Review

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Libertyville Bank & Trust Company Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Libertyville Bank & Trust Company started in 1995 and is headquartered in Libertyville, Illinois. It manages $1 billion in assets as well as $1 billion in deposits, making it a medium-size bank. Libertyville Bank & Trust Company lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a score of 4.1 stars out of 5, Libertyville Bank & Trust Company should be solidly in contention for your choice of bank. Libertyville Bank & Trust Company provides customers with a complete selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Libertyville Bank & Trust Company's ordinary checking account does not have a monthly fee. Institutions that offer no-fee checking as well as a high savings APY are your best option for returning the highest income from your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

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

Rates

3.0
SmartAsset Average: 3.5

Libertyville Bank & Trust Company has a savings rate of 0.15%, which is fair compared to the national average. Its one-year and five-year term lengths CDs earn at a rate of 0.20% and 0.80%, respectively, while its highest-yielding money market account earns at a rate of 0.20%. Given Libertyville Bank & Trust Company's poor savings rate, you should consider looking elsewhere to open savings accounts.

How Libertyville Bank & Trust Company's Savings Rates Compare

Libertyville Bank & Trust Company Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Libertyville Bank & Trust Company generally has extremely low fees compared to the average U.S. bank. With no monthly fee, Libertyville Bank & Trust Company's checking account is ideal for people who want a hassle-free checking account. For those who will need cash in a pinch, Libertyville Bank & Trust Company is ideal because it charges no out-of-network ATM fees. Libertyville Bank & Trust Company does not reimburse out-of-network ATM fees, which means you'll be required to locate a Libertyville Bank & Trust Company ATM or eat the cost of withdrawal.

Monthly Fee $0 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

3.7
SmartAsset Average: 3.7

Libertyville Bank & Trust Company is a brick-and-mortar bank, with eight total bank locations in Illinois. With mobile and web apps, Libertyville Bank & Trust Company makes account access convenient, even on the go. Libertyville Bank & Trust Company receives fair marks from customers for its mobile platform. With 25 ratings across both iOS and Android platforms, the Libertyville Bank & Trust Company mobile app rates a 3.6 out of 5 (compared to the national average of 3.8). Libertyville Bank & Trust Company's mobile app lets you manage your funds by looking at account balances, sending and receiving funds as well as accessing customer service. Libertyville Bank & Trust Company gets an exceptional consumer satisfaction rating due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

Libertyville Bank & Trust Company is currently a medium-size bank with assets totaling $1 billion as well as deposits totaling $1 billion. Libertyville Bank & Trust Company has an excellent Texas Ratio of 4.57%, suggesting a minute likelihood 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

4.57%
High Risk 75% 50% 20% 10% Low Risk

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 Libertyville Bank & Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.20% APY
  • 24 Month: 0.35% APY
  • 36 Month: 0.40% APY
  • 48 Month: 0.55% APY
  • 60 Month: 0.80% APY
$1000 for all terms
Money Market Account 0.2% APY $10000

Libertyville Bank & Trust Company offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Libertyville Bank & Trust Company 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. Libertyville Bank & Trust Company's CD rates are fair in comparison to the average U.S. bank.

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Find a Libertyville Bank & Trust Company Near Me

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

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