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Wauchula State Bank Review

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


Wauchula State Bank was founded in 1929 with its headquarters in Wauchula, Florida. Wauchula State Bank manages $656 million in assets and deposits totaling $581 million, ranking it as a medium-size bank. Wauchula State Bank has above-average access to customer service with a live chat feature, great for getting help during the work week. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. At a SmartAsset rating of 3.6 stars out of 5, Wauchula State Bank should be near the middle of the pack in your search for a bank. Wauchula State Bank offers a complete array of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Wauchula State Bank has a fair savings rate; other popular banks have higher rates. The bank's standard checking account features a monthly fee of $2.00, which is acceptable as compared against the national average. Banks that offer free checking as well as a high interest rate savings account are your best bet for returning the highest income from 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 0.10%, Wauchula State Bank ranks poorly compared to other U.S. banks. Wauchula State Bank's one-year and five-year term lengths CDs earn at a rate of 0.75% and 1.82%, respectively, while its highest-yielding money market account earns at an APY of 0.10%. Given Wauchula State Bank's poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How Wauchula State Bank's Savings Rates Compare

Wauchula State Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Wauchula State Bank typically has high fees compared to other U.S. banks. Wauchula State Bank's checking account has a monthly fee of $2.00, which makes it slightly worse for anyone looking for a hassle-free account. Wauchula State Bank doesn't refund out-of-network ATM fees, which means you will need to search for a Wauchula State Bank ATM or eat the fee.

Monthly Fee $2.00 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

SmartAsset Average: 3.7

Wauchula State Bank is a brick-and-mortar bank, with seven total bank locations in Florida. It also offers access to mobile and web apps for simple access and banking on the go. It does not have all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 6:00 p.m. ET; Saturday, and 8:00 a.m. to 12:00 p.m. ET. Wauchula State Bank also offers a live chat feature, an alternative customer service tool if you can't call in during business hours. Wauchula State Bank's online and mobile banking services get mediocre marks from users. With 20 ratings on Apple and Android platforms, the Wauchula State Bank mobile app rates a 3.0 out of 5 (compared to the national average of 3.8). Wauchula State Bank's mobile app allows you to control your funds by monitoring monthly statements, sending and receiving funds and accessing customer service. Wauchula State Bank gets a superb consumer satisfaction rating due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

SmartAsset Average: 4.8

Wauchula State Bank is a medium-size bank with assets totaling $656 million and deposits totaling $581 million. Its Texas Ratio is 18.51%, denoting a small possibility of failure. Additionally, Wauchula State Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Wauchula State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1
Checking Account 0.05% APY $1500
Certificates of Deposit
  • 12 Month: 0.75% APY
  • 24 Month: 1.26% APY
  • 36 Month: 1.76% APY
  • 60 Month: 1.82% APY
$1000 for all terms
Money Market Account 0.05% APY $1

Wauchula State Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Wauchula State Bank 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. Wauchula State Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Wauchula State Bank Near Me

Wauchula State Bank has seven physical locations across the U.S.

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