State Bank of Southern Utah started in 1957 and its headquarters are located in Cedar City, Utah. It handles assets of $981 million as well as $831 million in deposits, which makes it a medium-size bank. State Bank of Southern Utah lacks premium access to customer service, 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 apps. With a superb 4.5 out of 5 stars, State Bank of Southern Utah proves it is a superb bank that you should seriously consider. State Bank of Southern Utah offers a full selection of product offerings, 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, State Bank of Southern Utah's standard checking does not have a monthly maintenance charge. Banks that offer no-fee checking, in addition to a high savings APY are your best option for getting the highest income from your deposits while having easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
State Bank of Southern Utah features a savings rate of 0.25%, which is poor compared to the national average. Its one-year and five-year term lengths CDs earn at a rate of 1.76% and 3.03%, respectively, while its highest-yielding money market account earns at a rate of 0.75%. Given State Bank of Southern Utah's noncompetitive savings rate, you should consider taking a look at other banks for savings accounts.
How State Bank of Southern Utah's Savings Rates Compare
State Bank of Southern Utah charges its customers extremely low fees compared to other U.S. banks. With no monthly fee, State Bank of Southern Utah is ideal for those who want a simple checking account. State Bank of Southern Utah does not refund out-of-network ATM fees, meaning you'll be required to locate a State Bank of Southern Utah ATM or eat the withdrawal fee.
State Bank of Southern Utah is a brick-and-mortar bank, with 12 total bank locations in Utah. With mobile and web apps, State Bank of Southern Utah makes account access easy, even on the go. State Bank of Southern Utah gets average feedback from users for its online presence. The State Bank of Southern Utah mobile app has been given a 3.6 out of 5 (out of 64 customer reviews on iOS and Android) compared to the national average of 3.8. State Bank of Southern Utah's mobile app lets you manage your funds by checking account balances, sending and receiving funds as well as accessing customer service. State Bank of Southern Utah receives a superb consumer satisfaction score due to comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
State Bank of Southern Utah ranks as a medium-size bank with assets totaling $981 million and deposits totaling $831 million. It has an excellent Texas Ratio of 1.01%, suggesting a minute possibility of failure. Additionally, State Bank of Southern Utah 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 State Bank of Southern Utah to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.25% APY||$10|
|Checking Account||0.25% APY||$500|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Accounts||0.6% APY 0.75% APY||$10000 $15000|
State Bank of Southern Utah has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. State Bank of Southern Utah does not have the best savings rate, which means you should consider other options 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 of Southern Utah's CD rates are fair in comparison to the national average.Back to Overview
Find a State Bank of Southern Utah Near Me
State Bank of Southern Utah has 12 physical locations across the U.S.Back to Overview