The Bank of Commerce Review

Overview

The Bank of Commerce was founded in 1959 with its headquarters in Ammon, Idaho. The Bank of Commerce has assets of $1.97 billion along with deposits totaling $1.66 billion, 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.

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

With a savings rate of 0.50%, The Bank of Commerce ranks poorly in comparison to other U.S. banks. Its one-year CD has a rate of 3.50%, while its highest-yielding money market account earns at a rate of 3.56%. 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

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.

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.

The Bank of Commerce ranks as a medium-size bank with $1.97 billion in assets as well as $1.66 billion in deposits. It has an excellent Texas Ratio of 1.22%, 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

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.

Products Offered

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.

Find a The Bank of Commerce Near Me

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