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Woodlands Bank Review

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Woodlands Bank Savings
0.07% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1990, Woodlands Bank has $394 million in assets along with $341 million in deposits, ranking the institution as a small bank. Woodlands Bank, whose headquarters are in Williamsport, Pennsylvania, 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, Woodlands Bank is a good bank that gets the job done, with a rating of 4.0 stars out of 5 from our team. Woodlands Bank has numerous product offerings, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It 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 most basic checking does not have a monthly fee. Locating a checking account with no monthly fee as well as a savings account with a high interest rate at the same bank is your best bet for gaining the most income on your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.0/5
National Average: 4.1

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

Rates

3.2
SmartAsset Average: 3.5

Woodlands Bank has a savings rate of 0.07%, which is poor compared to other U.S. banks. Its one-year CD has a rate of 0.80% and the five-year CD earns at a rate of 2.50%, while its highest-yielding money market account has an APY of 0.07%. Given Woodlands Bank's noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How Woodlands Bank's Savings Rates Compare

Woodlands Bank Savings 0.07 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Woodlands Bank has generally extremely low fees compared to the average U.S. bank. With no monthly fee, Woodlands Bank's checking account is ideal for those who want an easy banking experience. Woodlands Bank unfortunately doesn't reimburse out-of-network ATM charges, meaning you'll need to locate a Woodlands Bank ATM or accept the fee.

Monthly Fee $0 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

3.2
SmartAsset Average: 3.7

Woodlands Bank is a brick-and-mortar bank, with eight total bank locations in Pennsylvania. It also offers access to mobile and web apps for straightforward access and banking on the go. Woodlands Bank's online and mobile banking services receive mediocre marks from customers. With 14 customer reviews on both iOS and Android platforms, the Woodlands Bank mobile app is scored at 2.6 out of 5 (compared to the national average of 3.8). Woodlands Bank's mobile app lets you manage your bank accounts by checking current statements, sending and receiving funds as well as accessing support representatives. Woodlands Bank receives a superb consumer satisfaction rating based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 2.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.6
SmartAsset Average: 4.8

Woodlands Bank is currently a small bank owning assets totaling $394 million as well as deposits totaling $341 million. Its Texas Ratio is 9.03%, denoting a small likelihood of failure. Additionally, Woodlands Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

9.03%
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 Woodlands Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.07% APY $100
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.80% APY
  • 24 Month: 1.00% APY
  • 36 Month: 3.00% APY
  • 48 Month: 1.75% APY
  • 60 Month: 2.50% APY
$500 for all terms
Money Market Account 0.07% APY $25000

Woodlands Bank has several deposit products like savings accounts, checking accounts and CDs to give you many options to manage your money. Woodlands Bank does not have the best savings rate, which means you should think about 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. Woodlands Bank's CD rates are fair in comparison to the national average.

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Find a Woodlands Bank Near Me

Woodlands Bank has eight locations across the U.S.

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