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MidAmerica National Bank Review

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MidAmerica National Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


MidAmerica National Bank started in 1933 with headquarters located in Canton, Illinois. It owns assets of $420 million along with $366 million in deposits, ranking it as a medium-size bank. MidAmerica National Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. Coming in at a commendable 4.1 stars out of 5, MidAmerica National Bank proves it is a good bank that gets the job done. MidAmerica National Bank has a variety of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, MidAmerica National Bank offers an option without a maintenance or monthly fee. Locating a bank with free checking and a high savings APY is your best bet for returning the highest income on your deposits while maintaining 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

MidAmerica National Bank has a savings rate of 0.05%, which is poor compared to the average U.S. bank. Its CD rates are 0.60% and 1.36% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.05%. Given MidAmerica National Bank's noncompetitive savings rate, you should consider other options to earn more on your deposits.

How MidAmerica National Bank's Savings Rates Compare

MidAmerica National Bank Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

MidAmerica National Bank charges customers extremely low fees in comparison to the national average. With no monthly fee, MidAmerica National Bank's checking account is ideal for those who need a hassle-free banking experience. MidAmerica National Bank unfortunately doesn't reimburse out-of-network ATM charges, meaning you'll have to locate a MidAmerica National Bank ATM or accept the cost of withdrawal.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

MidAmerica National Bank is a brick-and-mortar bank, with six total branches in Illinois. With mobile and web apps, MidAmerica National Bank makes mobile banking easy, even on the go. MidAmerica National Bank receives poor marks from users for its mobile banking services. The MidAmerica National Bank mobile app rates a 3.0 out of 5 (out of 20 reviews on iOS and Android) compared to the national average of 3.8. MidAmerica National Bank's mobile app lets you control your accounts by monitoring monthly statements, transferring money and accessing support representatives. MidAmerica National Bank gets an outstanding consumer satisfaction rating due to relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

MidAmerica National Bank is currently a medium-size bank with $420 million in assets and deposits totaling $366 million. MidAmerica National Bank's Texas Ratio is 7.87%, signifying that MidAmerica National Bank is in good financial shape and far from failure. Additionally, MidAmerica National Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 MidAmerica National Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $1000
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.60% APY
  • 24 Month: 0.80% APY
  • 36 Month: 1.05% APY
  • 48 Month: 1.21% APY
  • 60 Month: 1.36% APY
$1000 for all terms
Money Market Account 0.05% APY $25000

MidAmerica National Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. MidAmerica National 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. MidAmerica National Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a MidAmerica National Bank Near Me

MidAmerica National Bank has six locations in the U.S.

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