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Phelps County Bank Review

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Phelps County Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Started in 1963, Phelps County Bank has $384 million in assets as well as deposits totaling $350 million, which makes the institution a small bank. Phelps County Bank, whose headquarters are in Rolla, Missouri, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With a score of 4.4 stars out of 5, Phelps County Bank should be solidly in contention for your choice of bank. Phelps County Bank provides customers with a complete suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Phelps County Bank has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Phelps County Bank's standard checking account does not have a monthly fee. Finding a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same bank is your best option for accruing the most income on your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.25%, Phelps County Bank ranks poorly compared to other U.S. banks. Its one-year CD has a rate of 0.75% and the five-year CD earns at a rate of 1.36%, while its highest-yielding money market account earns at a rate of 0.30%. Given Phelps County Bank's poor savings rate, you should consider opting for higher earning savings accounts with other banks.

How Phelps County Bank's Savings Rates Compare

Phelps County Bank Savings 0.25 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Phelps County Bank charges customers extremely low fees compared to other U.S. banks. Its checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. Phelps County Bank unfortunately does not refund out-of-network ATM charges, meaning you'll need to find a Phelps County Bank ATM or accept the withdrawal fee.

Monthly Fee $0 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

SmartAsset Average: 3.7

Phelps County Bank is a brick-and-mortar bank, with four total branches in Missouri. With mobile and web apps, Phelps County Bank makes account access straightforward, even on the go. Phelps County Bank's online and mobile banking platforms get fairly high marks from customers. The Phelps County Bank mobile app has an overall rating of 4.2 out of 5 (with 86 ratings on Apple and Android) compared to the national average of 3.8. You can use Phelps County Bank's app to control your accounts by monitoring monthly statements, transferring funds and reaching support representatives. Phelps County Bank gets a superb consumer satisfaction score due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Phelps County Bank is currently a small bank and handles $384 million in assets and deposits totaling $350 million. Phelps County Bank's Texas Ratio is 2.60%, indicating a low likelihood of failure. Additionally, Phelps County Bank 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.

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Compare Phelps County Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $1
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.75% APY
  • 24 Month: 1.00% APY
  • 36 Month: 1.06% APY
  • 48 Month: 1.16% APY
  • 60 Month: 1.36% APY
$1000 for all terms
Money Market Account 0.2% APY $10000

Phelps County Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Phelps County Bank does not have the best savings rate, which means you should consider other options 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. Phelps County Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Phelps County Bank Near Me

Phelps County Bank has four physical locations in the U.S.

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