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RCB Bank Review

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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
RCB Bank Savings
0.10% APY

RCB Bank was founded in 1936 in Claremore, Oklahoma as a community-focused bank. Since then, the bank prides itself on maintaining its focus on customer relationships and community, while also turning a profit. It says it keeps its connections with its customers while also taking advantage of the newest products technology can offer to better the customer experience. 

You can find a great range of financial services with RCB Bank. You can open a number of personal or business accounts, like checking, money market and savings accounts, get a mortgage, open trust an investment accounts and more.

Products Offered

Products Key Details
Savings Accounts
  • Waivable, low monthly fee
Certificates of Deposit
  • Fixed, Variable and Pop-Up accounts 
  • 12 available terms
  • CDARS available
Money Market Account
  • Earns interest according to balance tiers 
  • High minimum balance to waive monthly fee
Checking Accounts
  • Three account options
  • Earn cashback or interest 
  • No monthly fees

RCB Bank Interest Rate Comparison

Savings Account

Key Features Details
Minimum Deposit $100
Access to Your Savings Account Online, mobile, ATMs and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees $5 monthly fee, waivable with $25 minimum daily balance.
Current Terms and Rates 0.10% APY

In terms of standard savings accounts, this is RCB Bank’s only offering. For starters, it requires a pretty high deposit to open, especially for a basic savings account. There is also a monthly fee, although you can waive it with a relatively low balance. 

Certificate of Deposit (CDs)

Key Features Details
Minimum Deposit $1,000
Access to Your CD Account Online, mobile, ATMs and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees No monthly fee, although early withdrawal penalties may apply.
Current Terms and Rates
  • 30 Day: 0.65% APY
  • 91 Day: 0.65% APY
  • 182 Day: 0.80% APY
  • 12 Month: 1.30% APY
  • 15 Month: 1.00% APY
  • 18 Month: 1.30% APY
  • 18 Month Variable: 2.38% APY
  • 24 Month: 1.75% APY
  • 25 Month Pop-Up: 2.50% APY
  • 36 Month: 2.00% APY
  • 48 Month: 1.75% APY
  • 60 Month: 3.00% APY

RCB Bank offers a number of CD term lengths from 30 days to 60 months. This range allows you to open an account (or a variety of accounts) according to your savings goals, whether they’re in the near future or still far off. RCB Bank also helps along your savings with good interest rates on its CDs. The best CD rates here come with longer terms, though, starting at 15 months. 

RCB Bank offers three types of CDs for even more choice and variety. Its main CDs are the Fixed accounts which lock in your rate at opening for the entirety of the account’s term. If you don’t like that lack of rate flexibility, there is also a Variable CD. This means the interest rate may change after you open the account. This does allow for higher rates at some point, but it could also result in lower rates. Lastly, RCB Bank has a Pop-Up CD. This account allows you to request to change the interest rate once during the account term in case the posted rates increase. 

RCB Bank also offers CDARS participation which allows you to make larger CD deposits, up to $50 million for FDIC insurance. This is done by distributing your deposits between multiple participation locations. You don’t have to deal with each institution separately though, so you can easily continue to work with RCB Bank.

Compare RCB Bank to Other Competitive Offers

my Money Market Account

Key Features Details
Minimum Deposit $100
Access to Your Money Market Account Online, mobile, ATMs and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees $10 monthly fee, waivable with $2,500 minimum daily balance.
Current Terms and Rates
  • Account balances of $2,500 - $49,999.99: 0.20% APY
  • Account balances of $50,000 - $99,999.99: 0.20% APY
  • Account balances of $100,000 and over: 0.25% APY

RCB Bank’s my Money Market accounts offer more flexibility than the bank’s savings account. For starters, you have the opportunity to earn at higher rates with higher balances. You also have more access to the account. Just keep in mind that you’re still limited to six withdrawals per statement cycle with a money market account. After that, each withdrawal or debit purchase will cost $5 each. 

my Cashback Checking Account

Key Features Details
Minimum Deposit $100
Access to Your Checking Account Online, mobile, ATMs and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees No monthly fee

Cashback rewards are usually reserved for credit cards. But RCB Bank makes this great rewards system available to its my Cashback Checking customers. You can earn 5 cents on every purchase under $10 and 10 cents on every purchase $10 and over. 

You’ll receive eStatements with this account. You need to use your debit card for at least 10 purchases each statement cycle. 

my Interest Checking Account

Key Features Details
Minimum Deposit $100
Access to Your Checking Account Online, mobile, ATMs and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees No monthly fee
Current Terms and Rates
  • Account balances below $15,000: 2.01% APY
  • Account balances of $15,000 and over: 0.10% APY

If you’re not quite into cashback rewards and just want to grow your checking balance, the my Interest Checking account can do that for you. Plus, it has a great rate for lower balances which benefits those who don’t typically qualify for higher interest rates. 

The requirements to maintain this account include at least 10 purchases per cycle, at least one automatic deposit or withdrawal and eStatement enrollment. RCB Bank will refund you up to $10 of the fees you pay at out-of-network ATMs. 

my Senior Checking Account

Key Features Details
Minimum Deposit $100
Access to Your Checking Account Online, mobile, ATMs and physical branches.
Security FDIC insurance up to the maximum amount allowed by law. 
Fees No monthly fee
Current Terms and Rates
  • With paper statements
    • Account balances below $15,000: 0.25% APY
    • Account balances of $15,000 and over: 0.10% APY
  • With eStatements
    • Account balances below $15,000: 1.25% APY
    • Account balances of $15,000 and over: 0.10% APY

This checking account is designed for senior customers. It earns interest on all balances, with a couple opportunities to raise your rate. For one, keeping a balance below $15,000 will earn better rates than higher balances. This is different than most bank accounts, which offer higher rates for higher balances. 

You can also easily earn at even better rates on your lower balance simply by signing up for eStatements. 

Branch Locations 

You can find most RCB Bank locations throughout Oklahoma with a few throughout Kansas, too. 

Financial Statistics & Bank Health Rating

RCB Bank has $2.79 billion in assets and $1.72 billion in loans according to the FDIC. It holds $2.47 billion in customer deposits. 

RCB Bank has a Texas Ratio of 4.37%. The Texas Ratio is an important indicator of a bank’s ability to protect your deposits. You can find a bank’s Texas Ratio by dividing the amount of non-performing assets (unbacked current loans and real estate owned) by the sum of the bank’s tangible equity capital and its loan loss allowances. RCB Bank maintains an excellent score, while banks with a score close to 100% show poor reliability. 

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