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PBI Bank Review

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PBI Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

PBI Bank was founded in 1902 and has its headquarters in Louisville, Kentucky. It has $967 million in assets as well as $848 million in deposits, classifying it as a medium-size bank. PBI Bank lacks premium access to customer service, 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. Coming in at a commendable 4.1 out of 5 stars, PBI Bank proves it is a good bank that deserves your consideration. PBI Bank has a varied selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, the bank's standard checking account does not have a monthly maintenance 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 on your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.1/5
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

PBI Bank features a savings rate of 0.15%, which is fair in comparison to the national average. PBI Bank's CDs feature a rate of 0.61% and 2.53% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.15%. Given PBI Bank's below average savings rate, you should think about looking at the competition to open savings accounts.

How PBI Bank's Savings Rates Compare

PBI Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

4.3
SmartAsset Average: 4.4

PBI Bank generally has low fees in comparison to the national average. PBI Bank's checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. For those who will need cash in a pinch, it is fair because it charges an out-of-network ATM fee of $2.00, which is reasonable in comparison to other U.S. banks. Additionally, it has an overdraft fee of $32.00, which is less than the national average. PBI Bank doesn't refund out-of-network ATM fees, meaning you will have to locate a PBI Bank ATM or pay the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $2.00 National Average: $1.20
Overdraft Fee $32.00 National Average: $35.00
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Service Quality

4.1
SmartAsset Average: 3.7

PBI Bank is a brick-and-mortar bank, with 16 total bank locations in Kentucky. With mobile and web apps, PBI Bank makes account access straightforward, even on the go. PBI Bank's online and mobile banking services receive reasonably high marks from users. The PBI Bank mobile app has been given a 4.3 out of 5 (with 42 customer reviews on Apple and Android) compared to the national average of 3.8. You can use PBI Bank's mobile app to manage your bank accounts by monitoring monthly statements, transferring money and accessing customer service. PBI Bank receives an excellent consumer satisfaction score due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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

4.6
SmartAsset Average: 4.8

PBI Bank is currently a medium-size bank with $967 million in assets as well as $848 million in deposits. PBI Bank's Texas Ratio is 8.79%, denoting that the bank is in fine financial shape and unlikely to fail. Additionally, PBI Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

8.79%
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 PBI Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $50
Checking Account 0.1% APY $50
Certificates of Deposit
  • 12 Month: 0.61% APY
  • 24 Month: 0.95% APY
  • 36 Month: 1.26% APY
  • 48 Month: 1.36% APY
  • 60 Month: 2.53% APY
$500 for all terms
Money Market Accounts 0.15% APY 0.15% APY $10000 $15000

PBI Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. PBI 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. PBI Bank's CD rates are fair as compared against the national average.

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Find a PBI Bank Near Me

PBI Bank has 16 physical branches in the U.S.

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