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The Bank Review

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The Bank Savings
0.30% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


The Bank was founded in 1927 and has its headquarters in Mcalester, Oklahoma. The Bank manages $369 million in assets as well as $330 million in deposits, making it a small bank. The Bank 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, The Bank is a solid contender in your bank search, with a rating of 4.4 stars out of 5 from our team. The Bank has 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 compared to the average savings account. If you're interested in stress-free personal checking, the bank's standard checking does not have a monthly maintenance fee. Finding an institution with no-fee checking as well as a high interest rate savings account is your best option for accruing the most income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.30%, The Bank ranks poorly in comparison to the average U.S. bank. The Bank's one-year CD earns at a rate of 1.05% and the five-year CD has a rate of 1.66%, while its highest-yielding money market account has a rate of 0.95%. Given its noncompetitive savings rate, you should think about choosing another bank to earn more on your deposits.

How The Bank's Savings Rates Compare

The Bank Savings 0.30 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

The Bank charges customers extremely low fees compared to the national average. Its checking account has no monthly fee, ranking it excellent for anyone looking for a hassle-free account. Also, at $23.00, The Bank's overdraft fee is markedly lower than the national average. The Bank doesn't refund out-of-network ATM charges, which means you'll need to find a The Bank ATM or accept the cost of withdrawal.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $23.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

The Bank is a brick-and-mortar bank, with four total bank locations in Oklahoma. With mobile and web apps, The Bank makes mobile banking straightforward, even on the go. It does not provide access to all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday and 8:00 a.m. to 5:00 p.m. CT. The Bank's online and mobile banking services receive fair scores from customers. Out of 28 ratings across iOS and Android platforms, the The Bank mobile app rates a 3.8 out of 5 (compared to the national average of 3.8). The Bank's mobile app lets you control your bank accounts by reviewing current statements, sending and receiving funds as well as accessing customer service. The Bank receives a superb consumer satisfaction score based on relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.8/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

The Bank is a small bank and handles $369 million in assets and $330 million in deposits. The Bank's Texas Ratio is 5.58%, signifying that the bank is in good financial shape and far from failure. Additionally, The Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

High Risk 75% 50% 20% 10% Low Risk

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 The Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.3% APY $100
Checking Account 0.1% APY $750
Certificates of Deposit
  • 12 Month: 1.05% APY
  • 24 Month: 1.26% APY
  • 36 Month: 1.36% APY
  • 48 Month: 1.51% APY
  • 60 Month: 1.66% APY
$1000 for all terms
Money Market Account 0.85% APY $10000

The Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. The 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. The Bank's CD rates are fair in comparison to the national average.

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Find a The Bank Near Me

The Bank has four locations in the U.S.

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