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North State Bank Review

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North State Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 2000, North State Bank has assets totaling $833 million along with $756 million in deposits, classifying it as a medium-size bank. North State Bank, whose headquarters are in Raleigh, North Carolina, lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. On the whole, North State Bank is a great choice and should warrant serious consideration, with a rating of 4.3 stars out of 5 from the SmartAsset experts. North State Bank has a mixture of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, North State Bank's standard checking account does not carry a monthly fee. Banks that offer free checking and a high interest rate savings account are your best option for returning the most income from your deposits while maintaining 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

3.2
SmartAsset Average: 3.5

North State Bank features a savings rate of 0.10%, which is fair compared to the average U.S. bank. North State Bank's one-year CD earns at a rate of 1.51% and the five-year CD earns at a rate of 2.12%, while its highest-yielding money market account has a rate of 0.20%. Given its poor savings rate, you should consider choosing another bank to earn more on your deposits.

How North State Bank's Savings Rates Compare

North State Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

North State Bank charges customers extremely low fees in comparison to the average U.S. bank. With no monthly fee, North State Bank's checking account is ideal for those who need a hassle-free banking experience. North State Bank unfortunately doesn't reimburse out-of-network ATM fees, which means you'll need to find a North State 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

3.8
SmartAsset Average: 3.7

North State Bank is a brick-and-mortar bank, with seven total branches in North Carolina. With mobile and web apps, North State Bank makes account access easy, even on the go. It does not have all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday, 9:00 a.m. to 11:00 p.m. ET; Saturday and Sunday, and 9:00 a.m. to 5:00 p.m. ET. North State Bank's online and mobile banking services receive moderate feedback from users. Out of 7 ratings across both iOS and Android platforms, the North State Bank mobile app has an overall rating of 3.7 out of 5 (compared to the national average of 3.8). North State Bank's mobile app allows you to manage your bank accounts by monitoring current statements, transferring funds as well as reaching support representatives. North State Bank receives an outstanding consumer satisfaction rating based on relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

5.0
SmartAsset Average: 4.8

North State Bank ranks as a medium-size bank and handles assets totaling $833 million as well as deposits totaling $756 million. Its Texas Ratio is 1.76%, suggesting a low likelihood of failure. Additionally, North 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.

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Compare North State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1
Checking Account 0.35% APY $1
Certificates of Deposit
  • 12 Month: 1.51% APY
  • 24 Month: 1.77% APY
  • 36 Month: 2.02% APY
  • 48 Month: 2.07% APY
  • 60 Month: 2.12% APY
$10000 for all terms
Money Market Accounts 0.2% APY 0.2% APY $10000 $15000

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

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Find a North State Bank Near Me

North State Bank has seven physical locations in the U.S.

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