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Town Bank Review

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Town Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Town Bank was founded in 1998 and its headquarters are located in Hartland, Wisconsin. It handles $2 billion in assets along with $2 billion in deposits, ranking it as a large bank. Town Bank lacks premium access to support representatives, 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. Overall, Town Bank is a solid pick to be your bank, with a rating of 4.2 stars out of 5 from our experts. Town Bank provides customers with an array banking products, which include savings accounts, checking accounts, money market accounts, mortgage products and credit cards. Town Bank has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Town Bank's ordinary checking account does not have a monthly fee. Locating a checking account with no monthly fee and a savings account with a high interest rate at the same bank is your best option for getting the most income on your deposits while having convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.20%, Town Bank ranks poorly compared to the national average. Town Bank's one-year and five-year term lengths CDs earn at a rate of 0.22% and 1.00%, respectively, while its highest-yielding money market account has an APY of 0.30%. Given its noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.

How Town Bank's Savings Rates Compare

Town Bank Savings 0.20 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, Town Bank charges customers extremely low fees as compared against the national average. With no monthly fee, Town Bank's checking account is perfect for people who want an easy checking account. For those who often frequent the ATM, it is perfect because it charges no out-of-network ATM fees. Town Bank refunds their out-of-network ATM charges, making withdrawals a free and simple process.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Town Bank is a brick-and-mortar bank, with 22 total bank locations in Wisconsin. It also offers access to mobile and web apps for a simple mobile-banking experience. Town Bank's online and mobile banking services receive mediocre scores from users. With 32 customer reviews on iOS and Android platforms, the Town Bank mobile app has an overall rating of 3.3 out of 5 (compared to the national average of 3.8). Town Bank's mobile app lets you control your finances by looking at current statements, transferring funds and reaching support representatives. Town Bank receives an exceptional consumer satisfaction rating based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Town Bank is a large bank and has assets totaling $2 billion and deposits totaling $2 billion. Its Texas Ratio is 1.89%, denoting that Town Bank is in outstanding financial shape and improbable to fail. Additionally, Town Bank 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 Town Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $1
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.22% APY
  • 24 Month: 0.40% APY
  • 36 Month: 0.60% APY
  • 48 Month: 0.75% APY
  • 60 Month: 1.00% APY
$1000 for all terms
Money Market Account 0.3% APY $10000

Town Bank offers several deposit products including savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. Town Bank does not have the best savings rate, which means you should consider 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. Town Bank's CD rates are fair as compared against the national average.

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Find a Town Bank Near Me

Town Bank has 22 physical branches across the U.S.

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