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Montgomery Bank Review

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Montgomery Bank Savings
0.11% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Montgomery Bank was founded in 1934 with its headquarters in Sikeston, Missouri. Montgomery Bank handles $905 million in assets and deposits totaling $723 million, classifying it as a medium-size bank. Montgomery Bank has above-average customer service access with a live chat feature, great for getting help during the work week. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. We gave the bank a 4.1 stars out of 5, indicating that Montgomery Bank is a good bank that deserves your consideration. Montgomery Bank offers a full selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, brokerage accounts, mortgage products and credit cards. Montgomery Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Montgomery Bank's ordinary checking account does not have a monthly fee. Institutions that offer free checking and a high interest rate savings account are the best bet for gaining the most income from your deposits while having convenient access to your funds.

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

With a savings rate of 0.11%, Montgomery Bank ranks poorly compared to other U.S. banks. Its one-year and five-year term lengths CDs earn at a rate of 0.55% and 2.75%, respectively. Given its poor savings rate, you should consider taking a look at other banks for savings accounts.

How Montgomery Bank's Savings Rates Compare

Montgomery Bank Savings 0.11 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, Montgomery Bank charges customers extremely low fees in comparison to the average U.S. bank. Montgomery Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a hassle-free account. For those who will need cash in a pinch, Montgomery Bank is ideal because it has no out-of-network ATM fees. Additionally, at $33.00, its overdraft fee is considerably lower than the average overdraft fee charged by U.S. banks. Montgomery Bank does not reimburse out-of-network ATM fees, meaning you will be required to find a Montgomery Bank ATM or accept the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee $33.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Montgomery Bank is a brick-and-mortar bank, with 10 total bank locations in Missouri. It also offers access to mobile and web apps for a straightforward 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 6:00 p.m. CT; Saturday, and 8:00 a.m. to 12:00 p.m. CT. Additionally, Montgomery Bank customers can access live chat for customer service questions, an alternative customer service tool if you can't call in during business hours. Montgomery Bank's online and mobile banking services get fair scores from customers. Out of 84 customer reviews across iOS and Android platforms, the Montgomery Bank mobile app rates a 3.8 out of 5 (compared to the national average of 3.8). You can use Montgomery Bank's mobile app to control your bank accounts by checking current statements, transferring money and reaching customer service. Montgomery Bank receives an exceptional consumer satisfaction score due to relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.8/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

SmartAsset Average: 4.8

Montgomery Bank is a medium-size bank and owns assets totaling $905 million and $723 million in deposits. Montgomery Bank's Texas Ratio is 14.20%, signifying that the bank is in good financial condition and unlikely to fail. Additionally, Montgomery 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 Montgomery Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.11% APY $1
Checking Account 0.07% APY $1
Certificates of Deposit
  • 12 Month: 0.55% APY
  • 24 Month: 0.85% APY
  • 36 Month: 1.05% APY
  • 48 Month: 1.40% APY
  • 60 Month: 2.75% APY
$1000 for all terms

Montgomery 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. Montgomery Bank does not have the best savings rate, which means you should think about taking a look 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. Montgomery Bank's CD rates are fair compared to the average U.S. bank.

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Find a Montgomery Bank Near Me

Montgomery Bank has 10 physical locations in the U.S.

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