Founded in 1977, Peoples Bank of Alabama has assets totaling $725 million and $637 million in deposits, classifying the institution as a medium-size bank. Peoples Bank of Alabama, whose headquarters are in Cullman, Alabama, lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. On the whole, Peoples Bank of Alabama is a solid contender in your bank search, with a rating of 4.2 out of 5 stars from our experts. Peoples Bank of Alabama provides customers with a varied choice of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Peoples Bank of Alabama has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, the bank's standard checking account does not carry a monthly fee. Institutions that offer no-fee checking, in addition to a high interest rate savings account are your best bet for getting the most income from your deposits while having easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Peoples Bank of Alabama has a savings rate of 0.10%, which is poor in comparison to the average U.S. bank. Peoples Bank of Alabama's one-year CD has a rate of 1.00% and the five-year CD earns at a rate of 2.75%, while its highest-yielding money market account earns at an APY of 0.10%. Given its noncompetitive savings rate, you should think about looking elsewhere to open savings accounts.
How Peoples Bank of Alabama's Savings Rates Compare
Peoples Bank of Alabama charges its customers extremely low fees in comparison to other U.S. banks. Peoples Bank of Alabama's checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. Additionally, at $22.00, it has a considerably lower overdraft fee compared to that of other U.S. banks. Peoples Bank of Alabama unfortunately does not refund out-of-network ATM fees, which means you'll need to search for a Peoples Bank of Alabama ATM or pay the withdrawal fee.
Peoples Bank of Alabama is a brick-and-mortar bank, with 25 total branches in Alabama. With mobile and web apps, Peoples Bank of Alabama makes mobile banking convenient, even on the go. Peoples Bank of Alabama gets inferior feedback from customers for its mobile platform. The Peoples Bank of Alabama mobile app has an overall rating of 3.4 out of 5 (with 250 ratings on Apple and Android) compared to the national average of 3.8. Peoples Bank of Alabama's mobile app lets you control your finances by reviewing monthly statements, transferring money and accessing customer service. Peoples Bank of Alabama gets a superb consumer satisfaction rating based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
Peoples Bank of Alabama is currently a medium-size bank with $725 million in assets as well as $637 million in deposits. Peoples Bank of Alabama's Texas Ratio is 4.74%, indicating that Peoples Bank of Alabama is in terrific financial condition and far from failure. Additionally, Peoples Bank of Alabama 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.Back to Overview
Compare Peoples Bank of Alabama to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$100|
|Checking Account||0.1% APY||$1000|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.1% APY 0.1% APY||$10000 $15000|
Peoples Bank of Alabama 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 of Alabama 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 of Alabama's CD rates are fair as compared against the national average.Back to Overview
Find a Peoples Bank of Alabama Near Me
Peoples Bank of Alabama has 25 physical branches across the U.S.Back to Overview