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Morris Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Morris Bank Savings
0.30% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1954, Morris Bank has assets totaling $679 million as well as deposits totaling $593 million, which makes it a medium-size bank. Morris Bank, whose headquarters are in Dublin, Georgia, 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. We gave Morris Bank a 4.3 out of 5 stars, indicating that it is a solid contender in your bank search. Morris Bank offers a diverse array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Morris Bank has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Morris Bank's most basic checking does not have a monthly charge. Banks that offer no-fee checking as well as a high savings APY are your best bet for getting the most income on your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

3.7
SmartAsset Average: 3.5

Morris Bank features a savings rate of 0.30%, which is poor compared to the average U.S. bank. Its one-year CD has a rate of 0.85% and the five-year CD earns at a rate of 2.02%, while its highest-yielding money market account earns at a rate of 0.75%. Given its below average savings rate, you should think about other options to earn more on your deposits.

How Morris Bank's Savings Rates Compare

Morris Bank Savings 0.30 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Morris Bank charges customers extremely low fees in comparison to other U.S. banks. With no monthly fee, Morris Bank is perfect for people who want a basic banking experience. Morris Bank doesn't refund out-of-network ATM charges, meaning you will have to search for a Morris Bank ATM or eat the fee.

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

4.1
SmartAsset Average: 3.7

Morris Bank is a brick-and-mortar bank, with six total bank locations in Georgia. It also offers access to mobile and web apps for simple access and banking on the go. Morris Bank receives relatively positive reviews from users for its mobile banking services. Out of 32 ratings on iOS and Android platforms, the Morris Bank mobile app is scored at 4.3 out of 5 (compared to the national average of 3.8). Morris Bank's mobile app lets you control your bank accounts by monitoring monthly statements, sending and receiving money and reaching customer service. Morris Bank gets a superb consumer satisfaction rating due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.5
SmartAsset Average: 4.8

Morris Bank ranks as a medium-size bank owning $679 million in assets and deposits totaling $593 million. Its Texas Ratio is 10.11%, signifying a tiny chance of failure. Additionally, Morris Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

10.11%
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 Morris Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.3% APY $100
Checking Account 0.15% APY $100
Certificates of Deposit
  • 12 Month: 0.85% APY
  • 24 Month: 1.05% APY
  • 36 Month: 1.66% APY
  • 48 Month: 1.86% APY
  • 60 Month: 2.02% APY
$500 for all terms
Money Market Accounts 0.75% APY 0.75% APY $10000 $15000

Morris Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Morris Bank does not have the best savings rate, which means you should consider 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. Morris Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Morris Bank Near Me

Morris Bank has six branches in the U.S.

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