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The Citizens National Bank of Meridian Review

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The Citizens National Bank of Meridian Savings
0.01% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1888, The Citizens National Bank of Meridian has assets totaling $1 billion along with deposits totaling $1 billion, which makes the institution a medium-size bank. The Citizens National Bank of Meridian, whose headquarters are in Meridian, Mississippi, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. We ranked the bank at a 3.6 out of 5 stars, indicating that The Citizens National Bank of Meridian is a decent bank that leaves room for improvement. The Citizens National Bank of Meridian offers a complete array of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. The bank's standard checking account maintains a monthly fee of $5.95, making it a rather costly bank for checking. Finding a bank with free checking and a high savings APY is the best bet for gaining the highest income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.6/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

The Citizens National Bank of Meridian features a savings rate of 0.01%, which is fair in comparison to other U.S. banks. Its one-year CD has a rate of 0.25% and the five-year CD earns at a rate of 1.05%, while its highest-yielding money market account has a rate of 0.25%. Given The Citizens National Bank of Meridian's noncompetitive savings rate, you should think about looking at the competition to open savings accounts.

How The Citizens National Bank of Meridian's Savings Rates Compare

The Citizens National Bank of Meridian Savings 0.01 National Average 0.26 Compare Offers
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Fees

2.6
SmartAsset Average: 4.4

The Citizens National Bank of Meridian has typically high fees as compared against the national average. At $5.95 per month, The Citizens National Bank of Meridian's checking account is not the best product for people who need a hassle-free checking account. The Citizens National Bank of Meridian unfortunately does not refund out-of-network ATM fees, which means you'll be required to locate a The Citizens National Bank of Meridian ATM or accept the fee.

Monthly Fee $5.95 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

4.3
SmartAsset Average: 3.7

The Citizens National Bank of Meridian is a brick-and-mortar bank, with 28 total bank locations in Mississippi. With mobile and web apps, The Citizens National Bank of Meridian makes mobile banking convenient, even on the go. It does not have all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 6:00 p.m. ET; Saturday, and 9:00 a.m. to 12:00 p.m. ET. The Citizens National Bank of Meridian receives high marks from customers for its mobile app. With 930 customer reviews across both iOS and Android platforms, the The Citizens National Bank of Meridian mobile app is scored at 4.7 out of 5 (compared to the national average of 3.8). The Citizens National Bank of Meridian's mobile app allows you to control your accounts by looking at account balances, transferring money as well as accessing support representatives. The Citizens National Bank of Meridian receives a superb consumer satisfaction score due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.7/5
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 Citizens National Bank of Meridian is currently a medium-size bank owning $1 billion in assets as well as deposits totaling $1 billion. Its Texas Ratio is 5.50%, suggesting that The Citizens National Bank of Meridian is in fine financial shape and unlikely to fail. Additionally, The Citizens National Bank of Meridian is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

5.5%
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 Citizens National Bank of Meridian to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.01% APY $1
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.55% APY
  • 36 Month: 0.65% APY
  • 48 Month: 0.95% APY
  • 60 Month: 1.05% APY
$2500 for all terms
Money Market Account 0.25% APY $5000

The Citizens National Bank of Meridian offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. The Citizens National Bank of Meridian does not have the best savings rate, which means you should consider looking 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 Citizens National Bank of Meridian's CD rates are fair in comparison to the national average.

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Find a The Citizens National Bank of Meridian Near Me

The Citizens National Bank of Meridian has 28 locations across the U.S.

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