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River Bank & Trust Review

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

Overview

Established in 2006, River Bank & Trust has assets totaling $823 million and $701 million in deposits, ranking the institution as a medium-size bank. River Bank & Trust, whose headquarters are in Prattville, Alabama, 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 in-person service, in addition to its online and mobile offerings. With a score of 3.5 out of 5 stars, River Bank & Trust should be more closely inspected to see if its features fit your needs. River Bank & Trust provides customers with a varied selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account carries a $8.00 monthly fee, which places it at the higher end of monthly fees. Using a bank with free checking as well as a high interest rate savings account is the best bet for accruing the highest income on your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

3.5/5
National Average: 4.1

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

Rates

3.5
SmartAsset Average: 3.5

With a savings rate of 0.10%, River Bank & Trust ranks poorly as compared against the national average. River Bank & Trust's one-year CD has a rate of 1.25% and the five-year CD has a rate of 2.50%, while its highest-yielding money market account has an APY of 0.55%. Given River Bank & Trust's below average savings rate, you should consider opting for higher earning savings accounts with other banks.

How River Bank & Trust's Savings Rates Compare

River Bank & Trust Savings 0.10 National Average 0.26 Compare Offers
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Fees

2.0
SmartAsset Average: 4.4

River Bank & Trust charges its customers high fees compared to other U.S. banks. At $8.00 per month, River Bank & Trust is not ideal for those who want a simple banking experience. River Bank & Trust unfortunately does not reimburse out-of-network ATM fees, which means you will have to locate a River Bank & Trust ATM or eat the cost of withdrawal.

Monthly Fee $8.00 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

3.7
SmartAsset Average: 3.7

River Bank & Trust is a brick-and-mortar bank, with 10 total branches in Alabama. It also offers access to mobile and web apps for an easy mobile-banking experience. River Bank & Trust gets fair reviews from customers for its mobile app. The River Bank & Trust mobile app rates a 3.5 out of 5 (out of 15 customer reviews on iOS and Android) compared to the national average of 3.8. River Bank & Trust's mobile app allows you to control your funds by looking at current statements, transferring funds as well as reaching customer service. River Bank & Trust gets an excellent consumer satisfaction rating 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

4.8
SmartAsset Average: 4.8

River Bank & Trust is a medium-size bank and has assets totaling $823 million as well as deposits totaling $701 million. Its Texas Ratio is 4.62%, denoting that the bank is in superb financial condition and far from failure. Additionally, River Bank & Trust is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.62%
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 & Trust to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $100
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 1.25% APY
  • 24 Month: 1.45% APY
  • 36 Month: 1.55% APY
  • 48 Month: 1.65% APY
  • 60 Month: 2.50% APY
$1000 for all terms
Money Market Accounts 0.35% APY 0.55% APY $10000 $15000

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

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Find a River Bank & Trust Near Me

River Bank & Trust has 10 physical locations in the U.S.

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