River Bank & Trust Review

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.

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

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 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.

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.

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

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.

Products Offered

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.

Find a River Bank & Trust Near Me

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