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The State Bank and Trust Company Review

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The State Bank and Trust Company Savings
0.02% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1902, The State Bank and Trust Company has assets totaling $876 million as well as deposits totaling $733 million, classifying the institution as a medium-size bank. The State Bank and Trust Company, whose headquarters are in Defiance, Ohio, lacks premium access to customer service, 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 apps. Coming in at an average 3.7 stars out of 5, The State Bank and Trust Company proves it is an acceptable bank choice, but may leave you wanting more. The State Bank and Trust Company provides customers with a mixture of banking products, including savings accounts, checking accounts, money market accounts, brokerage accounts, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. The bank's standard checking account maintains a monthly fee of $7.00, although banks sometimes have requirements that allow you to waive the fee. Using a bank with no-fee checking, in addition to a high savings APY is the best option for returning the most income on your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.7/5
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

With a savings rate of 0.02%, The State Bank and Trust Company ranks poorly in comparison to the national average. The State Bank and Trust Company's CDs feature a rate of 0.20% and 0.70% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.01%. Given its noncompetitive savings rate, you should consider taking a look at other banks for savings accounts.

How The State Bank and Trust Company's Savings Rates Compare

The State Bank and Trust Company Savings 0.02 National Average 0.26 Compare Offers
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Fees

2.6
SmartAsset Average: 4.4

The State Bank and Trust Company typically has high fees compared to the average U.S. bank. The State Bank and Trust Company's checking account has a monthly fee of $7.00, making it fair for anyone looking for a hassle-free account. The State Bank and Trust Company unfortunately doesn't reimburse out-of-network ATM charges, which means you will have to search for a The State Bank and Trust Company ATM or eat the cost of withdrawal.

Monthly Fee $7.00 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 State Bank and Trust Company is a brick-and-mortar bank, with 20 total branches in Indiana and Ohio. It also offers access to mobile and web apps for easy access and banking on the go. The State Bank and Trust Company gets high praise from users for its mobile banking services. Out of 92 ratings on both iOS and Android platforms, the The State Bank and Trust Company mobile app is scored at 4.6 out of 5 (compared to the national average of 3.8). You can utilize The State Bank and Trust Company's mobile app to manage your funds by checking monthly statements, sending and receiving funds and accessing customer service. The State Bank and Trust Company receives an outstanding consumer satisfaction score due to relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

The State Bank and Trust Company is currently a medium-size bank and manages $876 million in assets as well as $733 million in deposits. The State Bank and Trust Company's Texas Ratio is 2.49%, denoting a minute probability of failure. Additionally, The State Bank and Trust Company 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.

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Compare The State Bank and Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.02% APY $25
Certificates of Deposit
  • 12 Month: 0.20% APY
  • 24 Month: 0.30% APY
  • 36 Month: 0.40% APY
  • 48 Month: 0.55% APY
  • 60 Month: 0.70% APY
$1000 for all terms
Money Market Account 0.01% APY $1

The State Bank and Trust Company has several deposit products like savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. The State Bank and Trust Company 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 State Bank and Trust Company's CD rates are fair in comparison to the average U.S. bank.

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Find a The State Bank and Trust Company Near Me

The State Bank and Trust Company has 20 branches across the U.S.

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