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Plains State Bank Review

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Plains State Bank Savings
0.50% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Plains State Bank was founded in 1957 and is headquartered in Humble, Texas. Plains State Bank manages $429 million in assets as well as deposits totaling $381 million, classifying it as a medium-size bank. Plains State Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Overall, Plains State Bank is a solid contender in your bank search, with a score of 4.3 out of 5 stars from our team. Plains State Bank has a varied selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs and IRAs. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, the bank's most basic checking account does not have a monthly charge. Using an institution with free checking as well as a high interest rate savings account is the best bet for gaining the most income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

4.8
SmartAsset Average: 3.5

Plains State Bank features a savings rate of 0.50%, which is poor in comparison to other U.S. banks. Plains State Bank's one-year CD has a rate of 2.50%, while its highest-yielding money market account earns at an APY of 1.10%. Given its poor savings rate, you should consider choosing another bank to earn more on your deposits.

How Plains State Bank's Savings Rates Compare

Plains State Bank Savings 0.50 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Plains State Bank has typically extremely low fees compared to the national average. With no monthly fee, Plains State Bank's checking account is perfect for those who need an easy checking account. Plains State Bank does not refund out-of-network ATM charges, which means you'll be required to find a Plains State Bank ATM or eat 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

2.5
SmartAsset Average: 3.7

Plains State Bank is a brick-and-mortar bank, with six total branches in Texas. It also offers access to mobile and web apps for simple access and banking on the go. Plains State Bank's mobile app lets you manage your finances by monitoring monthly statements, sending and receiving funds as well as accessing support representatives. Plains State Bank gets an exceptional consumer satisfaction rating based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial 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

4.7
SmartAsset Average: 4.8

Plains State Bank is a medium-size bank and handles assets totaling $429 million as well as deposits totaling $381 million. Its Texas Ratio is 6.43%, denoting a tiny likelihood of failure. Additionally, Plains 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

6.43%
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 Plains State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.5% APY $50
Checking Account 0.15% APY $1000
Certificates of Deposit
  • 12 Month: 2.50% APY
  • 24 Month: 2.75% APY
  • 36 Month: 2.95% APY
$1000 for all terms
Money Market Account 1.1% APY $25000

Plains State Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Plains State Bank does not have the best savings rate, which means you should think about 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. Plains State Bank's CD rates are fair compared to the average U.S. bank.

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Find a Plains State Bank Near Me

Plains State Bank has six physical locations in the U.S.

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