Started in 1891, PrimeSouth Bank has $553 million in assets along with deposits totaling $486 million, classifying the institution as a medium-size bank. PrimeSouth Bank, whose headquarters are in Blackshear, Georgia, 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. At a SmartAsset rating of 4.2 stars out of 5, PrimeSouth Bank should be solidly in contention for your choice of bank. PrimeSouth Bank offers a complete choice of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. PrimeSouth Bank has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, PrimeSouth Bank's standard checking does not carry a monthly fee. Institutions that offer free checking as well as a high savings APY are your best bet for gaining the most income on your deposits while having easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.25%, PrimeSouth Bank ranks poorly in comparison to the national average. Its one-year CD has a rate of 1.25% and the five-year CD has a rate of 1.70%, while its highest-yielding money market account earns at an APY of 0.40%. Given PrimeSouth Bank's noncompetitive savings rate, you should consider choosing another bank to earn more on your deposits.
How PrimeSouth Bank's Savings Rates Compare
PrimeSouth Bank charges customers low fees in comparison to other U.S. banks. With no monthly fee, PrimeSouth Bank's checking account is perfect for those who want an easy checking account. Also, at $35.00, PrimeSouth Bank's overdraft fee is lower than the national average. PrimeSouth Bank unfortunately does not refund out-of-network ATM charges, which means you will have to find a PrimeSouth Bank ATM or accept the fee.
PrimeSouth Bank is a brick-and-mortar bank, with seven total branches in Georgia. With mobile and web apps, PrimeSouth Bank makes mobile banking easy, even on the go. PrimeSouth Bank's online and mobile banking platforms receive moderately high praise from customers. Out of 8 ratings across both iOS and Android platforms, the PrimeSouth Bank mobile app has an overall rating of 4.0 out of 5 (compared to the national average of 3.8). PrimeSouth Bank's mobile app allows you to manage your funds by reviewing account balances, sending and receiving funds and accessing customer service. PrimeSouth Bank gets a superb consumer satisfaction score based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
PrimeSouth Bank ranks as a medium-size bank and owns $553 million in assets as well as $486 million in deposits. PrimeSouth Bank has a strong Texas Ratio of 9.62%, denoting a tiny likelihood of failure. Additionally, PrimeSouth 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.Back to Overview
Compare PrimeSouth Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.25% APY||$25|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Account||0.35% APY||$10000|
PrimeSouth Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. PrimeSouth 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. PrimeSouth Bank's CD rates are fair compared to the national average.Back to Overview
Find a PrimeSouth Bank Near Me
PrimeSouth Bank has seven branches in the U.S.Back to Overview