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The State Bank and Trust Company Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
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 and $733 million in deposits, which makes it a medium-size bank. The State Bank and Trust Company, whose headquarters are in Defiance, Ohio, lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. With a score of 3.7 out of 5 stars, The State Bank and Trust Company should be near the middle of the pack in your search for a bank. The State Bank and Trust Company provides customers with numerous product offerings, including savings accounts, checking accounts, money market accounts, brokerage accounts, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking account features a $7.00 monthly fee, making it a rather pricey bank for checking. Using an institution with free checking as well as a high savings APY is the best option for accruing the most income from your deposits while having easy access to your money.

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 compared to the national average. Its one-year CD earns at a rate of 0.20% and the five-year CD earns at a rate of 0.70%, while its highest-yielding money market account has a rate of 0.01%. Given The State Bank and Trust Company's poor 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 has typically high fees in comparison to the average U.S. bank. The State Bank and Trust Company's checking account has a monthly fee of $7.00, rating 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, meaning you will need to locate a The State Bank and Trust Company ATM or pay the fee.

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 bank locations in Indiana and Ohio. It also offers access to mobile and web apps for simple access and banking on the go. The State Bank and Trust Company's online and mobile banking services receive high praise from users. The The State Bank and Trust Company mobile app scored a 4.6 out of 5 (with 92 customer reviews on iOS and Android) compared to the national average of 3.8. You can use The State Bank and Trust Company's app to control your accounts by monitoring account balances, sending and receiving money as well as accessing support representatives. The State Bank and Trust Company gets a superb consumer satisfaction rating due to relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

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 owns assets totaling $876 million and deposits totaling $733 million. The State Bank and Trust Company's Texas Ratio is 2.49%, signifying a low chance 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 Accounts 0.01% APY 0.01% APY $10000 $15000

The State Bank and Trust Company has several deposit products like savings accounts, checking accounts and money market accounts to give you many options to manage your money. The State Bank and Trust Company does not have the best savings rate, which means you should think about 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 national average.

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Find a The State Bank and Trust Company Near Me

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

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