Pinnacle Bank (GA) Review

Pinnacle Bank Savings

0.86% APY

Pinnacle Bank started in 1934 with headquarters in Elberton, Georgia. Pinnacle Bank has assets totaling $877 million and deposits totaling $765 million, ranking it as a medium-size bank. Pinnacle Bank does not have the customer service bells and whistles of other banks. It is a traditional brick-and-mortar bank, which means in-person service, in addition to its online and mobile apps. SmartAsset has rated Pinnacle Bank 4.2 out of 5 stars, suggesting it is a great bank that you should seriously consider. 

Pinnacle Bank provides customers with the complete selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate, which means you can find higher rates with other banks. A great, everyday account, the bank's standard checking account does not have a monthly maintenance fee. Opening accounts in one place is perfect when you want to get the largest interest rates on your money while retaining easy control over your funds.

Service Quality

Pinnacle Bank is a brick-and-mortar bank, with 16 total bank locations in Georgia. It also offers access to mobile and web apps for an easy mobile-banking experience. It does not have all-day customer service with representatives. You can get help during its hours, which are Monday through Thursday, 8:30 a.m. to 5:00 p.m. ET; Friday, 8:30 a.m. to 6:00 p.m. ET. 

Pinnacle Bank gets fairly high marks from customers for its mobile banking services: the Pinnacle Bank mobile app scored a 3.9 out of 5 (with 200 ratings on iOS and Android) compared to the national average of 3.8. Pinnacle Bank's mobile app lets you control your finances by checking account balances, sending and receiving funds and accessing customer service. Pinnacle Bank receives an exceptional consumer satisfaction rating based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency. 

Products Offered

It offers several deposit products including savings accounts, checking accounts, money market accounts and CDs, meaning you have many options to manage your money. It does not have the best savings rate, which means you should consider other options for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Pinnacle Bank's CD rates are competitive in comparison to the national average.

Rates

With a savings rate of 0.10%, Pinnacle Bank ranks below the mean compared to the average U.S. bank. Its one-year CD earns at a rate of 1.06% and the five-year CD has a rate of 1.97%, while its highest-yielding money market account has an APY of 0.75%. Pinnacle Bank has a fair savings rate compared to the average savings account. Think about choosing another bank to earn more on your deposits.

Fees

Pinnacle Bank typically has low fees compared to other U.S. banks. With no monthly fee, Pinnacle Bank is ideal for people who want a basic banking experience. For those who will need cash in a pinch, Pinnacle Bank is fair because it offers ATM fee of $2.00, which is fair in comparison to the national average. Also, at $30, Pinnacle Bank has a considerably lower overdraft fee compared to the national average, making it perfect for those who don't check their balance often. Pinnacle Bank  doesn't refund ATM fees which means you'll need to search for a Pinnacle Bank ATM or pay the withdrawal fee.

Financial Health

Pinnacle Bank ranks as a medium-size bank owning $877 million in assets and deposits totaling $765 million. Its Texas Ratio is 3.50%, indicating a very minute chance of failure. Additionally, Pinnacle Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Pinnacle Bank Near Me

Pinnacle Bank has 16 locations across the U.S.