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River 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 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
River Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1911, River Bank has $482 million in assets as well as deposits totaling $399 million, classifying it as a medium-size bank. River Bank, whose headquarters are in Stoddard, Wisconsin, 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 in-person service, in addition to its online and mobile offerings. On the whole, River Bank is a solid contender in your bank search, with a score of 4.4 out of 5 stars from our experts. River Bank has a variety of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. River Bank has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, the bank's most basic checking does not carry a monthly maintenance charge. Locating an institution with no-fee checking as well as a high interest rate savings account is the best option for gaining the highest income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

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

Rates

3.9
SmartAsset Average: 3.5

River Bank has a savings rate of 0.10%, which is poor in comparison to the average U.S. bank. Its one-year and five-year term lengths CDs earn at a rate of 2.02% and 2.78%, respectively, while its highest-yielding money market account has a rate of 0.65%. Given River Bank's noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.

How River Bank's Savings Rates Compare

River Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

River Bank charges its customers extremely low fees compared to the average U.S. bank. River Bank's checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. Also, it has an overdraft fee of $20.00, which is noticeably lower than that of other U.S. banks. River Bank unfortunately doesn't reimburse out-of-network ATM fees, which means you will have to find a River Bank ATM or pay the cost of withdrawal.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $20.00 National Average: $35.00
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Service Quality

3.7
SmartAsset Average: 3.7

River Bank is a brick-and-mortar bank, with 11 total branches in Wisconsin. It also offers access to mobile and web apps for an easy mobile-banking experience. River Bank's online and mobile banking services receive moderate scores from customers. The River Bank mobile app has been given a 3.5 out of 5 (with 17 reviews on iOS and Android) compared to the national average of 3.8. You can utilize River Bank's app to control your finances by reviewing monthly statements, transferring funds as well as reaching customer service. River Bank gets a superb consumer satisfaction score due to relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

River Bank is currently a medium-size bank and has $482 million in assets and deposits totaling $399 million. Its Texas Ratio is 3.53%, signifying a negligible chance of failure. Additionally, River Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.53%
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 River Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $100
Checking Account 0.1% APY $500
Certificates of Deposit
  • 12 Month: 2.02% APY
  • 24 Month: 2.27% APY
  • 36 Month: 2.42% APY
  • 48 Month: 2.52% APY
  • 60 Month: 2.78% APY
$500 for all terms
Money Market Accounts 0.55% APY 0.65% APY $10000 $15000

River Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. River 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. River Bank's CD rates are fair compared to the national average.

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Find a River Bank Near Me

River Bank has 11 locations across the U.S.

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