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The Community Bank Review

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The Community Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1902, The Community Bank has assets totaling $421 million along with deposits totaling $369 million, ranking it as a medium-size bank. The Community Bank, whose headquarters are in Zanesville, Ohio, 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. We ranked the bank at a 4.2 out of 5 stars, which means The Community Bank is a great choice and should warrant serious consideration. The Community Bank provides customers with a varied choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, The Community Bank's standard checking account does not have a monthly fee. Locating a checking account with no monthly fee as well as a savings account with a high APY at the same institution is the best bet for returning the most income on your deposits while having convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

With a savings rate of 0.10%, The Community Bank ranks poorly as compared against the national average. The Community Bank's CDs feature a rate of 0.20% and 1.10% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.10%. Given its below average savings rate, you should think about looking at the competition to open savings accounts.

How The Community Bank's Savings Rates Compare

The Community Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, The Community Bank charges customers extremely low fees in comparison to other U.S. banks. With no monthly fee, The Community Bank is ideal for those who want a basic checking account. The Community Bank unfortunately does not refund out-of-network ATM fees, which means you will need to locate a The Community Bank ATM or eat 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

4.3
SmartAsset Average: 3.7

The Community Bank is a brick-and-mortar bank, with 10 total bank locations in Ohio. It also offers access to mobile and web apps for an easy mobile-banking experience. The Community Bank receives high marks from users for its mobile app. Out of 23 ratings across Apple and Android platforms, the The Community Bank mobile app has an overall rating of 4.7 out of 5 (compared to the national average of 3.8). The Community Bank's mobile app lets you control your accounts by checking monthly statements, transferring funds as well as accessing customer service. The Community Bank gets an excellent consumer satisfaction rating due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

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

4.4
SmartAsset Average: 4.8

The Community Bank ranks as a medium-size bank with $421 million in assets and deposits totaling $369 million. Its Texas Ratio is 13.58%, suggesting that The Community Bank is in good financial shape and unlikely to fail. Additionally, The Community Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

13.58%
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 Community Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $100
Checking Account 0.05% APY $5000
Certificates of Deposit
  • 12 Month: 0.20% APY
  • 24 Month: 0.45% APY
  • 36 Month: 0.50% APY
  • 60 Month: 1.10% APY
$2500 for all terms
Money Market Account 0.05% APY $5000

The Community Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. The Community Bank does not have the best savings rate, which means you should consider other options 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 Community Bank's CD rates are fair as compared against the national average.

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Find a The Community Bank Near Me

The Community Bank has 10 physical branches across the U.S.

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