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Stockmens Bank Review

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Stockmens Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Stockmens Bank was founded in 1897 and is headquartered in Colorado Springs, Colorado. It handles assets of $357 million along with $310 million in deposits, which makes it a small bank. Stockmens Bank lacks premium access to support representatives, with no options for live chat or all-day service. 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 the bank a 4 out of 5 stars, suggesting Stockmens Bank is a respectable bank that deserves your consideration. Stockmens Bank provides customers with a complete suite of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Stockmens Bank's ordinary checking account does not have a monthly fee. Finding a bank with free checking as well as a high savings APY is the best bet for getting the most income on your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.0/5
National Average: 4.1

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

Rates

3.9
SmartAsset Average: 3.5

With a savings rate of 0.10%, Stockmens Bank ranks poorly compared to other U.S. banks. Stockmens Bank's CD rates are 1.76% and 2.98% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.50%. Given its below average savings rate, you should think about opting for higher earning savings accounts with other banks.

How Stockmens Bank's Savings Rates Compare

Stockmens Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

4.5
SmartAsset Average: 4.4

Stockmens Bank charges customers low fees in comparison to other U.S. banks. With no monthly fee, Stockmens Bank's checking account is perfect for people who need a hassle-free banking experience. For those who often withdraw money from the ATM, Stockmens Bank is fair because it charges an out-of-network ATM fee of $1.50, which is reasonable compared to other U.S. banks. Additionally, Stockmens Bank has an overdraft fee of $33.00, which is lower than the national average overdraft fee. Stockmens Bank unfortunately does not reimburse out-of-network ATM charges, which means you will have to find a Stockmens Bank ATM or pay the cost of withdrawal.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $1.50 National Average: $1.20
Overdraft Fee $33.00 National Average: $35.00
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Service Quality

2.5
SmartAsset Average: 3.7

Stockmens Bank is a brick-and-mortar bank, with 10 total branches in Colorado, Missouri and Nebraska. It also offers access to a web app, for a simple online-banking experience. Stockmens Bank receives an outstanding consumer satisfaction score due to relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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

4.9
SmartAsset Average: 4.8

Stockmens Bank ranks as a small bank and handles assets totaling $357 million as well as $310 million in deposits. Its Texas Ratio is 2.38%, signifying a minute probability of failure. Additionally, Stockmens Bank 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 Stockmens Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $25
Certificates of Deposit
  • 12 Month: 1.76% APY
  • 24 Month: 2.27% APY
  • 36 Month: 2.78% APY
  • 48 Month: 2.88% APY
  • 60 Month: 2.98% APY
$500 for all terms
Money Market Account 0.2% APY $1

Stockmens Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Stockmens Bank 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. Stockmens Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Stockmens Bank Near Me

Stockmens Bank has 10 physical locations across the U.S.

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