State Bank of Southern Utah first started operating in 1957 with its headquarters in Cedar City, Utah. State Bank of Southern Utah manages assets of $981 million as well as deposits totaling $831 million, making it a medium-size bank. State Bank of Southern Utah lacks premium access to support representatives, 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. On the whole, State Bank of Southern Utah is a top-tier bank that warrants a serious look, with a rating of 4.5 stars out of 5 from our team. State Bank of Southern Utah provides customers with a mixture of product offerings, including 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 offers an option without a maintenance or monthly fee. Finding a bank with no-fee checking and a high interest rate savings account is your best option for accruing the highest income from your deposits while maintaining easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.25%, State Bank of Southern Utah ranks poorly as compared against the national average. Its CDs feature a rate of 1.76% and 3.03% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.45%. Given State Bank of Southern Utah's below average savings rate, you should think about choosing another bank to earn more on your deposits.
How State Bank of Southern Utah's Savings Rates Compare
State Bank of Southern Utah has generally extremely low fees in comparison to the average U.S. bank. With no monthly fee, State Bank of Southern Utah's checking account is perfect for those who need an easy checking account. State Bank of Southern Utah unfortunately does not refund out-of-network ATM fees, meaning you'll have to find a State Bank of Southern Utah ATM or accept the ATM charge.
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 convenient, even on the go. State Bank of Southern Utah gets average marks from users for its online presence. The State Bank of Southern Utah mobile app scored a 3.6 out of 5 (out of 64 customer reviews on Apple and Android) compared to the national average of 3.8. State Bank of Southern Utah's mobile app allows you to control your finances by checking monthly statements, transferring money as well as reaching support representatives. State Bank of Southern Utah gets a superb consumer satisfaction score based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
State Bank of Southern Utah ranks as a medium-size bank owning assets totaling $981 million as well as $831 million in deposits. Its Texas Ratio is 1.01%, suggesting a low chance 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 Account||0.4% APY||$500|
State Bank of Southern Utah has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. State Bank of Southern Utah does not have the best savings rate, which means you should consider 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. State Bank of Southern Utah's CD rates are fair as compared against the national average.Back to Overview
Find a State Bank of Southern Utah Near Me
State Bank of Southern Utah has 12 physical locations in the U.S.Back to Overview