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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

Started in 1897, Stockmens Bank has assets totaling $357 million along with $310 million in deposits, making the institution a small bank. Stockmens Bank, whose headquarters are in Colorado Springs, Colorado, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. On the whole, Stockmens Bank is a good bank that deserves your consideration, with a rating of 4.0 out of 5 stars from our team. Stockmens Bank provides customers with a mixture of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Stockmens 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 does not have a monthly charge. Using a bank with free checking as well as a high interest rate savings account is the best bet for gaining the highest income on your deposits while maintaining convenient access to your funds.

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 as compared against the national average. Its one-year CD earns at a rate of 1.76% and the five-year CD has a rate of 2.98%, while its highest-yielding money market account earns at an APY of 0.50%. Given Stockmens Bank's poor 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 generally has low fees compared to the average U.S. bank. Its checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. For those who frequently visit the ATM, Stockmens Bank is fair because it has an out-of-network ATM fee of $1.50, which is reasonable in comparison to other U.S. banks. Additionally, at $33.00, its overdraft fee is noticeably lower than the national average. Stockmens Bank unfortunately does not reimburse out-of-network ATM charges, meaning you'll be required to find a Stockmens Bank ATM or accept the fee.

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 bank locations in Colorado, Missouri and Nebraska. It also offers access to a web app, for a straightforward online-banking experience. Stockmens Bank receives an outstanding consumer satisfaction rating based on comparatively few consumer complaints registered with 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 is a small bank owning $357 million in assets and deposits totaling $310 million. Its Texas Ratio is 2.38%, indicating a minute possibility 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 $1
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 has 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 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. Stockmens Bank's CD rates are fair compared to the national average.

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Find a Stockmens Bank Near Me

Stockmens Bank has 10 branches in the U.S.

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