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Peoples Community Bank Review

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

Overview

Peoples Community Bank was founded in 1977 with headquarters in Greenville, Missouri. It has $449 million in assets and deposits totaling $365 million, which makes it a medium-size bank. Peoples Community Bank 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 in-person service, in addition to its online and mobile apps. With a score of 3 out of 5 stars, Peoples Community Bank should be more closely inspected to see if its services satisfy your needs. Peoples Community Bank has a full suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account carries a monthly fee of $6.00, making it a rather costly bank for checking. Institutions that offer free checking, in addition to a high interest rate savings account are your best bet for gaining the highest income from your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.0/5
National Average: 4.1

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

Rates

3.0
SmartAsset Average: 3.5

With a savings rate of 0.10%, Peoples Community Bank ranks poorly in comparison to the average U.S. bank. Peoples Community Bank's one-year CD earns at a rate of 0.50% and the five-year CD has a rate of 1.00%, while its highest-yielding money market account earns at a rate of 1.75%. Given Peoples Community Bank's poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How Peoples Community Bank's Savings Rates Compare

Peoples Community Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

2.0
SmartAsset Average: 4.4

Peoples Community Bank charges its customers high fees compared to other U.S. banks. Its checking account has a monthly fee of $6.00, rating it fair for anyone looking for a hassle-free account. Peoples Community Bank does not refund out-of-network ATM charges, which means you will need to find a Peoples Community Bank ATM or accept the fee.

Monthly Fee $6.00 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

2.5
SmartAsset Average: 3.7

Peoples Community Bank is a brick-and-mortar bank, with 15 total branches in Missouri. It also offers access to a web app, for a simple online-banking experience. Peoples Community Bank gets an excellent consumer satisfaction rating based on relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating NR
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

Peoples Community Bank is a medium-size bank owning $449 million in assets and $365 million in deposits. Peoples Community Bank has a strong Texas Ratio of 9.59%, suggesting that the bank is in fine financial shape and improbable to fail. Additionally, Peoples Community Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

9.59%
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 Community Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1
Checking Account 0.1% APY $1000
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 0.75% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.00% APY
  • 60 Month: 1.00% APY
$500 for all terms
Money Market Account 1.75% APY $500

Peoples Community Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Peoples Community Bank does not have the best savings rate, which means you should think about 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 Community Bank's CD rates are fair compared to other U.S. banks.

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Find a Peoples Community Bank Near Me

Peoples Community Bank has 15 locations across the U.S.

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