Founded in 2006, River Bank & Trust has $823 million in assets and $701 million in deposits, making the institution 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 traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. We gave River Bank & Trust a 3.5 stars out of 5, indicating that it is an acceptable bank choice, but may leave you wanting more. River Bank & Trust provides customers with the complete slate of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. River Bank & Trust has a fair savings rate; you can find higher rates with other banks. The bank's standard checking product carries a $8.00 monthly fee, making it a rather pricey bank for checking. Finding a checking account with no monthly fee and a savings account with a high interest rate at the same bank is your best bet for gaining the most income from your deposits while having 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 compared to the national average. River Bank & Trust's one-year CD has a rate of 1.25% and the five-year CD earns at a rate of 2.50%, while its highest-yielding money market account earns at a rate of 0.55%. Given River Bank & Trust's poor savings rate, you should think about choosing another bank to earn more on your deposits.
How River Bank & Trust's Savings Rates Compare
River Bank & Trust has typically high fees in comparison to other U.S. banks. Its checking account has a monthly fee of $8.00, rating it fair for anyone looking for a simple account. River Bank & Trust does not reimburse out-of-network ATM fees, which means you will be required to search for a River Bank & Trust ATM or pay the ATM charge.
River Bank & Trust is a brick-and-mortar bank, with 10 total bank locations in Alabama. With mobile and web apps, River Bank & Trust makes mobile banking straightforward, even on the go. River Bank & Trust gets fair reviews from users for its mobile app. With 15 ratings on Apple and Android platforms, the River Bank & Trust mobile app is scored at 3.5 out of 5 (compared to the national average of 3.8). River Bank & Trust's mobile app lets you control your accounts by reviewing current statements, transferring money as well as reaching support representatives. River Bank & Trust gets an exceptional consumer satisfaction score based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
River Bank & Trust ranks as a medium-size bank with assets totaling $823 million as well as deposits totaling $701 million. River Bank & Trust's Texas Ratio is 4.62%, suggesting a low probability of 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.Back to Overview
Compare River Bank & Trust to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$100|
|Checking Account||0.05% APY||$1|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Account||0.35% APY||$1|
River Bank & Trust 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 & Trust does not have the best savings rate, which means you should think about looking 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 compared to the national average.Back to Overview
Find a River Bank & Trust Near Me
River Bank & Trust has 10 locations across the U.S.Back to Overview