Loading
Tap on the profile icon to edit
your financial details.

Peoples State Bank Review

Your Details Done
by Updated
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 State Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Peoples State Bank started in 1962 with headquarters in Wausau, Wisconsin. It manages $848 million in assets along with deposits totaling $705 million, ranking it as a medium-size bank. Peoples State 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 offerings. On the whole, Peoples State Bank is an acceptable bank choice, but may leave you wanting more, with a rating of 3.7 stars out of 5 from our team. Peoples State Bank has a full choice of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Peoples State Bank has a fair savings rate compared to the average savings account. The bank's standard checking account carries a monthly fee of $6.00, which places it at the higher end of monthly fees. Locating a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is the best bet for getting the most income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.7/5
National Average: 4.1

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

Rates

4.0
SmartAsset Average: 3.5

Peoples State Bank has a savings rate of 0.25%, which is poor in comparison to the national average. Peoples State Bank's one-year CD earns at a rate of 1.75% and the five-year CD has a rate of 2.50%, while its highest-yielding money market account has an APY of 0.30%. Given its below average savings rate, you should consider taking a look at other banks for savings accounts.

How Peoples State Bank's Savings Rates Compare

Peoples State Bank Savings 0.25 National Average 0.26 Compare Offers
Back to Overview

Fees

2.0
SmartAsset Average: 4.4

On average, Peoples State Bank charges customers high fees as compared against the national average. At $6.00 per month, Peoples State Bank's checking account is less than great for people who want an easy banking experience. Peoples State Bank unfortunately does not reimburse out-of-network ATM charges, meaning you'll have to locate a Peoples State Bank ATM or pay 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
Back to Overview

Service Quality

3.9
SmartAsset Average: 3.7

Peoples State Bank is a brick-and-mortar bank, with nine total bank locations in Wisconsin. It also offers access to mobile and web apps for simple access and banking on the go. Peoples State Bank gets fair marks from users for its mobile app. The Peoples State Bank mobile app rates a 3.8 out of 5 (out of 24 reviews on Apple and Android) compared to the national average of 3.8. Peoples State Bank's mobile app allows you to manage your bank accounts by reviewing monthly statements, transferring money as well as accessing customer service. Peoples State Bank gets a superb consumer satisfaction score due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.8/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

4.8
SmartAsset Average: 4.8

Peoples State Bank is a medium-size bank and owns $848 million in assets and $705 million in deposits. Its Texas Ratio is 4.54%, suggesting that the bank is in terrific financial condition and far from failure. Additionally, Peoples 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

4.54%
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.

Back to Overview

Compare Peoples State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $100
Checking Account 0.1% APY $100
Certificates of Deposit
  • 12 Month: 1.75% APY
  • 24 Month: 2.10% APY
  • 36 Month: 2.15% APY
  • 48 Month: 2.20% APY
  • 60 Month: 2.50% APY
$2500 for all terms
Money Market Accounts 0.25% APY 0.3% APY $10000 $15000

Peoples State Bank 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 State Bank 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 State Bank's CD rates are fair as compared against the national average.

Back to Overview

Find a Peoples State Bank Near Me

Peoples State Bank has nine physical branches in the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure