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The Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
The Bank Savings
0.30% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

The Bank first started operating in 1927 with headquarters in Mcalester, Oklahoma. It handles $369 million in assets along with $330 million in deposits, classifying it as a small bank. The Bank lacks premium access to customer service, 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. With a score of 4.4 stars out of 5, The Bank should be solidly in contention for your choice of bank. The Bank has a complete selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. The Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, the bank's most basic checking does not have a monthly maintenance fee. Obtaining a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best bet for returning the most income from your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

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

Rates

3.8
SmartAsset Average: 3.5

The Bank has a savings rate of 0.30%, which is fair compared to the national average. Its 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 earns at an APY of 0.95%. Given its noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.

How The Bank's Savings Rates Compare

The Bank Savings 0.30 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

The Bank charges customers extremely low fees compared to other U.S. banks. With no monthly fee, The Bank's checking account is perfect for people who want an easy banking experience. Additionally, at $23.00, The Bank's overdraft fee is markedly lower than that of other U.S. banks. The Bank unfortunately doesn't reimburse out-of-network ATM fees, which means you'll have 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

3.9
SmartAsset Average: 3.7

The Bank is a brick-and-mortar bank, with four total branches in Oklahoma. It also offers access to mobile and web apps for easy access and banking on the go. It does not offer all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday and 8:00 a.m. to 5:00 p.m. CT. The Bank's online and mobile banking platforms receive moderate scores from customers. The The Bank mobile app has been given a 3.8 out of 5 (out of 28 ratings on iOS and Android) compared to the national average of 3.8. The Bank's mobile app allows you to control your bank accounts by reviewing current statements, transferring money as well as accessing support representatives. The Bank gets an exceptional consumer satisfaction score due to comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

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

4.8
SmartAsset Average: 4.8

The Bank is a small bank with $369 million in assets as well as deposits totaling $330 million. Its Texas Ratio is 5.58%, signifying that the bank is in good financial condition and improbable to fail. 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

5.58%
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 Accounts 0.85% APY 0.95% APY $10000 $15000

The Bank offers several deposit products including 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 think about 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 compared to the national average.

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Find a The Bank Near Me

The Bank has four branches across the U.S.

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