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Security State Bank Review

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Security State Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Established in 1903, Security State Bank has assets totaling $450 million along with $388 million in deposits, making it a medium-size bank. Security State Bank, whose headquarters are in Centralia, Washington, lacks premium access to support representatives, with no options for live chat or all-day service. 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. SmartAsset has rated Security State Bank 4.3 stars out of 5, indicating that it is a solid contender in your bank search. Security State Bank offers a full suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Security State Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, the bank's most basic checking account does not have a monthly charge. Locating an institution with free checking, in addition to a high interest rate savings account is your best bet for returning the highest income on your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.05%, Security State Bank ranks poorly compared to the average U.S. bank. Security State Bank's one-year and five-year term lengths CDs earn at a rate of 0.80% and 2.07%, respectively, while its highest-yielding money market account has a rate of 0.05%. Given Security State Bank's poor savings rate, you should consider choosing another bank to earn more on your deposits.

How Security State Bank's Savings Rates Compare

Security State Bank Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Security State Bank charges customers extremely low fees compared to the average U.S. bank. Its checking account has no monthly fee, which makes it excellent for anyone looking for a hassle-free account. Security State Bank doesn't refund out-of-network ATM fees, which means you'll be required to find a Security State Bank ATM or accept the ATM charge.

Monthly Fee $0 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

SmartAsset Average: 3.7

Security State Bank is a brick-and-mortar bank, with 12 total bank locations in Washington. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Security State Bank receives great scores from customers for its mobile platform. The Security State Bank mobile app rates a 4.8 out of 5 (out of 8 reviews on iOS and Android) compared to the national average of 3.8. Security State Bank's mobile app lets you control your bank accounts by looking at current statements, transferring funds as well as reaching support representatives. Security State Bank receives a superb consumer satisfaction rating based on comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.8/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Security State Bank is currently a medium-size bank owning assets totaling $450 million and deposits totaling $388 million. Its Texas Ratio is 11.66%, signifying that the bank is in good financial condition and improbable to fail. Additionally, Security State Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Security State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $1
Checking Account 0.03% APY $1
Certificates of Deposit
  • 12 Month: 0.80% APY
  • 24 Month: 1.01% APY
  • 36 Month: 1.16% APY
  • 48 Month: 1.51% APY
  • 60 Month: 2.07% APY
$5000 for all terms
Money Market Account 0.05% APY $10000

Security State 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. Security State Bank does not have the best savings rate, which means you should consider 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. Security State Bank's CD rates are fair compared to the average U.S. bank.

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Find a Security State Bank Near Me

Security State Bank has 12 physical branches across the U.S.

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