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The Bank of Commerce 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 of Commerce Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

The Bank of Commerce was founded in 1959 with its headquarters in Ammon, Idaho. The Bank of Commerce has assets of $1 billion along with deposits totaling $992 million, classifying it as a medium-size bank. The Bank of Commerce lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset has rated The Bank of Commerce 4 stars out of 5, suggesting it is a respectable bank that warrants your consideration. The Bank of Commerce offers a mixture of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. The Bank of Commerce has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, the bank's most basic checking account does not have a monthly maintenance charge. Banks that offer no-fee checking and a high savings APY are your best bet for returning 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

3.1
SmartAsset Average: 3.5

With a savings rate of 0.15%, The Bank of Commerce ranks poorly in comparison to other U.S. banks. Its one-year CD has a rate of 1.10%, while its highest-yielding money market account earns at a rate of 0.25%. Given The Bank of Commerce's noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How The Bank of Commerce's Savings Rates Compare

The Bank of Commerce Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, The Bank of Commerce charges its customers extremely low fees in comparison to other U.S. banks. With no monthly fee, The Bank of Commerce is perfect for people who want a basic checking account. The Bank of Commerce doesn't refund out-of-network ATM charges, which means you will be required to locate a The Bank of Commerce ATM or accept the ATM charge.

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

3.0
SmartAsset Average: 3.7

The Bank of Commerce is a brick-and-mortar bank, with 16 total branches in Idaho and Montana. With mobile and web apps, The Bank of Commerce makes mobile banking easy, 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. MT. The Bank of Commerce gets inferior feedback from customers for its mobile platform. With 47 ratings across both Apple and Android platforms, the The Bank of Commerce mobile app is scored at 2.2 out of 5 (compared to the national average of 3.8). The Bank of Commerce's mobile app allows you to control your finances by looking at current statements, sending and receiving money as well as reaching customer service. The Bank of Commerce receives an outstanding consumer satisfaction score due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 2.2/5
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 of Commerce ranks as a medium-size bank with $1 billion in assets as well as $992 million in deposits. It has an excellent Texas Ratio of 4.26%, suggesting a minute likelihood of failure. Additionally, The Bank of Commerce is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.26%
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 of Commerce to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $100
Checking Account 0.1% APY $2500
Certificates of Deposit
  • 12 Month: 1.10% APY
  • 24 Month: 1.26% APY
  • 36 Month: 1.36% APY
  • 48 Month: 1.61% APY
$10000 for all terms
Money Market Accounts 0.25% APY 0.25% APY $10000 $15000

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

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Find a The Bank of Commerce Near Me

The Bank of Commerce has 16 locations in the U.S.

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