Troy Bank & Trust Company was founded in 1906 and is headquartered in Troy, Alabama. Troy Bank & Trust Company manages assets of $900 million and $773 million in deposits, which makes it a medium-size bank. Troy Bank & Trust Company 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 access to service representatives at a physical location, in addition to its online and mobile offerings. Coming in at a commendable 4.3 stars out of 5, Troy Bank & Trust Company proves it is a solid pick to be your bank. Troy Bank & Trust Company has a complete selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Troy Bank & Trust Company has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, the bank's standard checking does not carry a monthly fee. Using an institution with free checking and a high interest rate savings account is your best bet for accruing the highest income on your deposits while maintaining easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Troy Bank & Trust Company features a savings rate of 0.25%, which is poor compared to other U.S. banks. Its one-year CD has a rate of 1.51% and the five-year CD has a rate of 2.01%, while its highest-yielding money market account earns at an APY of 0.50%. Given Troy Bank & Trust Company's below average savings rate, you should consider taking a look at other banks for savings accounts.
How Troy Bank & Trust Company's Savings Rates Compare
Troy Bank & Trust Company generally has extremely low fees as compared against the national average. With no monthly fee, Troy Bank & Trust Company is perfect for those who want a basic banking experience. Troy Bank & Trust Company unfortunately does not reimburse out-of-network ATM charges, which means you'll have to locate a Troy Bank & Trust Company ATM or eat the cost of withdrawal.
Troy Bank & Trust Company is a brick-and-mortar bank, with 11 total branches in Alabama. With mobile and web apps, Troy Bank & Trust Company makes account access easy, even on the go. Troy Bank & Trust Company's online and mobile banking platforms get poor marks from customers. The Troy Bank & Trust Company mobile app is rated at 3.2 out of 5 (out of 36 reviews on Apple and Android) compared to the national average of 3.8. Troy Bank & Trust Company's mobile app lets you manage your funds by checking monthly statements, sending and receiving funds and accessing support representatives. Troy Bank & Trust Company receives a superb consumer satisfaction score due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
Troy Bank & Trust Company is currently a medium-size bank owning assets totaling $900 million as well as $773 million in deposits. It has a strong Texas Ratio of 8.26%, signifying a tiny chance of failure. Additionally, Troy Bank & 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.Back to Overview
Compare Troy Bank & Trust Company to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.25% APY||$100|
|Checking Account||0.25% APY||$2000|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Account||0.35% APY||$10000|
Troy Bank & Trust Company has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Troy Bank & 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. Troy Bank & Trust Company's CD rates are fair in comparison to the average U.S. bank.Back to Overview
Find a Troy Bank & Trust Company Near Me
Troy Bank & Trust Company has 11 physical locations across the U.S.Back to Overview