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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 and its headquarters are located in Wauchula, Florida. Wauchula State Bank manages assets of $656 million and $581 million in deposits, which makes it a medium-size bank. Wauchula State Bank has above-average access to customer service with a live chat feature, which is helpful for those that work during typical customer service hours. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. We gave Wauchula State Bank a 3.6 out of 5 stars, indicating that it is a decent choice, but with better options out there. Wauchula State Bank provides customers with the full slate of product offerings, including 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 product carries a monthly fee of $2.00, which is not too high as compared against the national average. Finding a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is the best bet for accruing the most income from your deposits alongside easy 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 the average U.S. bank. Wauchula State Bank's one-year CD earns at a rate of 0.75% and the five-year CD has a rate of 1.82%, while its highest-yielding money market account earns at a rate of 0.10%. Given its poor savings rate, you should consider other options to earn more on your deposits.

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 generally has high fees in comparison to the national average. At $2.00/month, Wauchula State Bank is less than great for people who want a basic banking experience. Wauchula State Bank does not refund out-of-network ATM charges, which means you will need to locate a Wauchula State Bank ATM or accept the withdrawal 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 branches in Florida. It also offers access to mobile and web apps for a simple mobile-banking experience. 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 platforms get poor scores from customers. With 20 ratings across iOS and Android platforms, the Wauchula State Bank mobile app has an overall rating of 3.0 out of 5 (compared to the national average of 3.8). Wauchula State Bank's mobile app lets you control your bank accounts by reviewing monthly statements, sending and receiving funds and reaching customer service. Wauchula State Bank gets a superb consumer satisfaction rating based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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 currently a medium-size bank with $656 million in assets and $581 million in deposits. Wauchula State Bank's Texas Ratio is 18.51%, indicating a tiny 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: 0.45% APY
  • 60 Month: 1.82% APY
$1000 for all terms
Money Market Account 0.05% APY $1

Wauchula State Bank offers several deposit products like 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 compared to the national average.

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Find a Wauchula State Bank Near Me

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

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