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Peoples Bank and Trust Company 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
Peoples Bank and Trust Company Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1898, Peoples Bank and Trust Company has $486 million in assets and $360 million in deposits, ranking the institution as a medium-size bank. Peoples Bank and Trust Company, whose headquarters are in Mcpherson, Kansas, 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 access to service representatives at a physical location, in addition to its online and mobile apps. Overall, Peoples Bank and Trust Company is a respectable bank that deserves your consideration, with a rating of 4.1 stars out of 5 from our experts. Peoples Bank and Trust Company provides customers with a complete choice of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. It has a fair savings rate; other popular banks have higher rates. Finding a checking account with no monthly fee as well as a savings account with a high APY at the same institution is the best option for returning the most income on your deposits while having convenient access to your money.

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

3.3
SmartAsset Average: 3.5

Peoples Bank and Trust Company features a savings rate of 0.10%, which is poor as compared against the national average. Its one-year and five-year term lengths CDs earn at a rate of 0.90% and 1.80%, respectively, while its highest-yielding money market account has an APY of 0.15%. Given Peoples Bank and Trust Company's below average savings rate, you should think about opting for higher earning savings accounts with other banks.

How Peoples Bank and Trust Company's Savings Rates Compare

Peoples Bank and Trust Company Savings 0.10 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Peoples Bank and Trust Company's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

Peoples Bank and Trust Company is a brick-and-mortar bank, with 12 total branches in Kansas. It also offers access to mobile and web apps for a simple mobile-banking experience. Peoples Bank and Trust Company's online and mobile banking platforms receive high marks from customers. Out of 31 customer reviews on Apple and Android platforms, the Peoples Bank and Trust Company mobile app has an overall rating of 4.5 out of 5 (compared to the national average of 3.8). Peoples Bank and Trust Company's mobile app allows you to manage your bank accounts by looking at current statements, sending and receiving money as well as accessing customer service. Peoples Bank and Trust Company gets an exceptional consumer satisfaction score based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

Peoples Bank and Trust Company ranks as a medium-size bank with $486 million in assets and $360 million in deposits. It has an excellent Texas Ratio of 3.74%, signifying that the bank is in superb financial health and unlikely to fail. Additionally, Peoples Bank and Trust Company is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.74%
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 Peoples Bank and Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1
Checking Account 0.1% APY $1
Certificates of Deposit
  • 12 Month: 0.90% APY
  • 24 Month: 1.35% APY
  • 36 Month: 1.50% APY
  • 48 Month: 1.65% APY
  • 60 Month: 1.80% APY
$1000 for all terms
Money Market Accounts 0.15% APY 0.15% APY $10000 $15000

Peoples Bank and Trust Company has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Peoples Bank and Trust Company 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. Peoples Bank and Trust Company's CD rates are fair as compared against the national average.

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Find a Peoples Bank and Trust Company Near Me

Peoples Bank and Trust Company has 12 locations in the U.S.

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