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Mountain Commerce Bank Review

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Mountain Commerce Bank Savings
1.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1910, Mountain Commerce Bank has assets totaling $747 million along with deposits totaling $644 million, which makes it a medium-size bank. Mountain Commerce Bank, whose headquarters are in Knoxville, Tennessee, lacks premium access to support representatives, 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 4.4 stars out of 5, Mountain Commerce Bank should be solidly in contention for your choice of bank. Mountain Commerce Bank provides customers with a complete choice of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. Mountain Commerce Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Mountain Commerce Bank offers an option without a maintenance or monthly fee. Obtaining a checking account with no monthly fee and a savings account with a high APY at the same bank is your best bet for gaining the most income from your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

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

Rates

4.0
SmartAsset Average: 3.5

Mountain Commerce Bank has a savings rate of 1.05%, which is fair in comparison to the national average. Its one-year and five-year term lengths CDs earn at a rate of 0.30% and 0.75%, respectively, while its highest-yielding money market account has an APY of 0.10%. Given its below average savings rate, you should think about looking at the competition to open savings accounts.

How Mountain Commerce Bank's Savings Rates Compare

Mountain Commerce Bank Savings 1.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Mountain Commerce Bank charges customers extremely low fees compared to other U.S. banks. Its checking account has no monthly fee, ranking it excellent for anyone looking for a hassle-free account. Mountain Commerce Bank doesn't refund out-of-network ATM fees, which means you will need to search for a Mountain Commerce Bank ATM or eat 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

4.2
SmartAsset Average: 3.7

Mountain Commerce Bank is a brick-and-mortar bank, with five total bank locations in Tennessee. With mobile and web apps, Mountain Commerce Bank makes account access straightforward, even on the go. Mountain Commerce Bank receives reasonably high marks from users for its online presence. The Mountain Commerce Bank mobile app has an overall rating of 4.4 out of 5 (with 7 ratings on Apple and Android) compared to the national average of 3.8. Mountain Commerce Bank's mobile app lets you control your accounts by looking at account balances, transferring money and accessing support representatives. Mountain Commerce Bank gets a superb consumer satisfaction score 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 4.4/5
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

Mountain Commerce Bank is currently a medium-size bank owning $747 million in assets as well as deposits totaling $644 million. Mountain Commerce Bank has a strong Texas Ratio of 11.58%, denoting that Mountain Commerce Bank is in fine financial condition and far from failure. Additionally, Mountain Commerce Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

11.58%
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 Mountain Commerce Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 1.05% APY $1
Checking Account 0.01% APY $1000
Certificates of Deposit
  • 12 Month: 0.30% APY
  • 24 Month: 0.75% APY
  • 36 Month: 0.60% APY
  • 48 Month: 0.70% APY
  • 60 Month: 0.75% APY
$2500 for all terms
Money Market Accounts 0.05% APY 0.1% APY $10000 $15000

Mountain Commerce 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. Mountain Commerce 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. Mountain Commerce Bank's CD rates are fair compared to the average U.S. bank.

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Find a Mountain Commerce Bank Near Me

Mountain Commerce Bank has five physical branches across the U.S.

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