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River Bank Review

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

Overview

Started in 1911, River Bank has assets totaling $482 million and deposits totaling $399 million, making it 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 conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. Coming in at a commendable 4.4 stars out of 5, River Bank is a solid pick to be your bank. River Bank offers a varied choice of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. River Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, River Bank offers an option without a monthly fee. Institutions that offer no-fee checking, in addition to a high interest rate savings account are the best option for gaining the highest income from your deposits while having easy access to your funds.

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 as compared against the national average. River Bank's CD rates are 1.76% and 2.78% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.65%. Given its below average savings rate, you should consider choosing another bank to earn more on your deposits.

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 generally has extremely low fees in comparison to the average U.S. bank. Its checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. Also, River Bank has an overdraft fee of $20.00, which is markedly lower than the national average overdraft fee. River Bank doesn't reimburse out-of-network ATM fees, meaning you will have to locate a River Bank ATM or eat the fee.

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 bank locations in Wisconsin. With mobile and web apps, River Bank makes mobile banking easy, even on the go. River Bank receives moderate reviews from customers for its mobile platform. Out of 17 customer reviews on iOS and Android platforms, the River Bank mobile app has an overall rating of 3.5 out of 5 (compared to the national average of 3.8). You can access River Bank's mobile app to manage your funds by looking at monthly statements, transferring money as well as reaching customer service. River Bank gets a superb consumer satisfaction score due to comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored 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 with $482 million in assets and deposits totaling $399 million. River Bank's Texas Ratio is 3.53%, denoting a negligible probability 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: 1.76% APY
  • 24 Month: 2.02% APY
  • 36 Month: 2.27% APY
  • 48 Month: 2.52% APY
  • 60 Month: 2.78% APY
$500 for all terms
Money Market Account 0.55% APY $1500

River 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. River 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. River Bank's CD rates are fair in comparison 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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