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The Bank of Commerce Review

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The Bank of Commerce Savings
0.12% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

The Bank of Commerce was founded in 1959 and its headquarters are located in Ammon, Idaho. The Bank of Commerce has assets of $1 billion along with deposits totaling $992 million, making it a medium-size bank. The Bank of Commerce 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. We ranked The Bank of Commerce at a 4 out of 5 stars, suggesting it is a respectable bank that warrants your consideration. The Bank of Commerce has a full choice of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, the bank's most basic checking account does not have a monthly fee. Institutions that offer free checking, in addition to a high savings APY are your best bet for getting the highest 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

3.1
SmartAsset Average: 3.5

With a savings rate of 0.12%, The Bank of Commerce ranks poorly in comparison to the average U.S. bank. The Bank of Commerce's one-year CD has a rate of 0.55%, while its highest-yielding money market account earns at an APY of 0.20%. Given The Bank of Commerce's noncompetitive savings rate, you should think about other options to earn more on your deposits.

How The Bank of Commerce's Savings Rates Compare

The Bank of Commerce Savings 0.12 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

The Bank of Commerce typically has extremely low fees in comparison to the average U.S. bank. With no monthly fee, The Bank of Commerce's checking account is perfect for people who need an easy banking experience. The Bank of Commerce unfortunately doesn't refund out-of-network ATM fees, meaning you will need to find a The Bank of Commerce ATM or pay 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. It also offers access to mobile and web apps for easy access and banking 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 poor reviews from customers for its online presence. The The Bank of Commerce mobile app is rated at 2.2 out of 5 (with 47 ratings on iOS and Android) compared to the national average of 3.8. The Bank of Commerce's mobile app lets you control your accounts by reviewing current statements, sending and receiving funds and accessing customer service. The Bank of Commerce receives an outstanding consumer satisfaction score based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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 and manages $1 billion in assets and deposits totaling $992 million. It has an excellent Texas Ratio of 4.26%, suggesting that the bank is in superb financial shape and far from 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 0.12% APY $100
Checking Account 0.1% APY $2500
Certificates of Deposit
  • 12 Month: 0.55% APY
  • 24 Month: 1.05% APY
  • 36 Month: 1.15% APY
  • 48 Month: 1.41% APY
$10000 for all terms
Money Market Account 0.2% APY $25000

The Bank of Commerce offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. The Bank of Commerce 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 of Commerce's CD rates are fair compared to the average U.S. bank.

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Find a The Bank of Commerce Near Me

The Bank of Commerce has 16 physical branches across the U.S.

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