Established in 1905, McFarland State Bank has assets totaling $484 million and deposits totaling $358 million, classifying it as a medium-size bank. McFarland State Bank, whose headquarters are in Mc Farland, Wisconsin, lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. At a SmartAsset rating of 3.5 stars out of 5, McFarland State Bank should be more closely inspected to see if its services match your needs. McFarland State Bank offers a selection of banking products, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. McFarland State Bank has a fair savings rate compared to the average savings account. Institutions that offer no-fee checking and a high savings APY are your best option for gaining the highest income from your deposits while having easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
McFarland State Bank has a savings rate of 0.05%, which is poor compared to the average U.S. bank. McFarland State Bank's one-year CD has a rate of 0.40% and the five-year CD has a rate of 1.50%, while its highest-yielding money market account earns at an APY of 0.07%. Given its poor savings rate, you should consider choosing another bank to earn more on your deposits.
How McFarland State Bank's Savings Rates Compare
There is insufficient data on McFarland State Bank's fees to provide a full SmartAsset rating.
McFarland State Bank is a brick-and-mortar bank, with seven total bank locations in Wisconsin. It also offers access to mobile and web apps for a straightforward mobile-banking experience. McFarland State Bank's mobile app lets you control your finances by looking at account balances, transferring money as well as accessing support representatives. McFarland State Bank gets an outstanding consumer satisfaction score due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.
McFarland State Bank is currently a medium-size bank with assets totaling $484 million and $358 million in deposits. Its Texas Ratio is 1.82%, signifying that the bank is in excellent financial health and far from failure. Additionally, McFarland 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 McFarland State Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.05% APY||$200|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Account||0.07% APY||$2500|
McFarland State Bank has several deposit products including savings accounts, checking accounts and CDs to give you many options to manage your money. McFarland State Bank does not have the best savings rate, which means you should consider 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. McFarland State Bank's CD rates are fair in comparison to the national average.Back to Overview
Find a McFarland State Bank Near Me
McFarland State Bank has seven physical locations across the U.S.Back to Overview