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State Bank and Trust Company Review

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State Bank and Trust Company Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

State Bank and Trust Company started in 2005 and its headquarters are located in Macon, Georgia. It owns $5 billion in assets and $4 billion in deposits, classifying it as a large bank. State Bank and Trust Company has above-average access to customer service with a live chat feature, which is helpful for those that work during typical customer service hours. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. We gave State Bank and Trust Company a 4.4 out of 5 stars, suggesting it is a great choice and should warrant serious consideration. State Bank and Trust Company provides customers with a diverse array of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, the bank's standard checking account does not carry a monthly maintenance fee. Finding an institution with free checking as well as a high savings APY is the best bet for gaining the most income on your deposits while maintaining convenient 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

4.3
SmartAsset Average: 3.5

With a savings rate of 0.25%, State Bank and Trust Company ranks poorly compared to other U.S. banks. Its one-year CD has a rate of 2.05% and the five-year CD has a rate of 2.45%, while its highest-yielding money market account has a rate of 0.50%. Given its below average savings rate, you should consider taking a look at other banks for savings accounts.

How State Bank and Trust Company's Savings Rates Compare

State Bank and Trust Company Savings 0.25 National Average 0.26 Compare Offers
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Fees

4.5
SmartAsset Average: 4.4

State Bank and Trust Company has generally low fees as compared against the national average. State Bank and Trust Company's checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. Additionally, State Bank and Trust Company has an overdraft fee of $35.00, which is on par with the national average overdraft fee. State Bank and Trust Company does not refund out-of-network ATM charges, meaning you'll be required to locate a State Bank and Trust Company ATM or pay the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $35.00 National Average: $35.00
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Service Quality

3.9
SmartAsset Average: 3.7

State Bank and Trust Company is a brick-and-mortar bank, with 35 total bank locations in Georgia. It also offers access to mobile and web apps for simple access and banking on the go. It does not offer all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 7:00 a.m. to 7:00 p.m. ET; Saturday, and 8:30 a.m. to 12:00 p.m. ET. Additionally, State Bank and Trust Company customers can access live chat for help, key for getting quick access to customer service. State Bank and Trust Company's online and mobile banking platforms get fair feedback from users. With 86 ratings across Apple and Android platforms, the State Bank and Trust Company mobile app rates a 3.5 out of 5 (compared to the national average of 3.8). You can utilize State Bank and Trust Company's mobile app to manage your funds by checking current statements, transferring money as well as reaching customer service. State Bank and Trust Company receives a superb consumer satisfaction score due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

4.9
SmartAsset Average: 4.8

State Bank and Trust Company is currently a large bank and owns assets totaling $5 billion and deposits totaling $4 billion. Its Texas Ratio is 2.50%, indicating a minute probability of failure. Additionally, State Bank and Trust Company 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.

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Compare State Bank and Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $1
Checking Account 0.1% APY $2500
Certificates of Deposit
  • 12 Month: 2.05% APY
  • 24 Month: 2.28% APY
  • 36 Month: 2.00% APY
  • 48 Month: 2.25% APY
  • 60 Month: 2.45% APY
$1000 for all terms
Money Market Account 0.5% APY $2500

State Bank and Trust Company has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. State Bank and Trust Company 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. State Bank and Trust Company's CD rates are fair compared to the average U.S. bank.

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Find a State Bank and Trust Company Near Me

State Bank and Trust Company has 35 locations in the U.S.

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