|Key People||) James B. Kinney (President and CEO)|
|☎ Telephone number:||1-847-395-2700|
|Number of employees:||Not known|
|Number of locations:||9 branches|
|ATM locator||Find here|
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State Bank Of The Lakes: Introduction
State Bank of the Lakes, based in Antioch, Illinois, was founded back in 1926 by Ed Wehmer. This is a local community bank, which, however, promises to deliver the quality and services of big banks while providing a local touch. As of the present time, there are only 9 branches of this bank.
The popularity of this bank among customers is caused by low fees (read below) and a variety of financial products. As of 2017, the bank had more than $1 billion in assets and $906 in deposits. It is also worth to note that at the end of 2017, the bank could boast a pretty good financial condition, whereas it was ranked by several professional services companies as 4 out of 5 for its safety.
State Bank Of The Lakes Review
As we have just pointed out above, State Bank of the Lakes can boast to have a pretty good financial health. In fact, this local bank might be a good option for local customers, who want to enjoy a combination of a decent local brick-and-mortar service and advanced online banking features. Combined with low fees and a wide array of financial products, this bank is really a robust alternative to many customers.
In fact, State Bank of the Lakes has really low fees, compared to other U.S. banks. There are no monthly fees for checking accounts and no out-of-network ATM withdrawal fees. Besides, the bank’s customers are extremely satisfied with the bank’s brick-and-mortar service and support. However, the low score of its mobile apps drags the overall quality of its service down.
As of the present time, the bank has a savings rate of 0.20%, which is quite poor, compared to other banks. But if you are looking to yield a better return, you should draw your attention to the bank’s money market account and one-year & five-year CDs. Considering that the bank offers a full array of financial products (checking accounts, savings accounts, CDs, mortgages, money market accounts, and credit cards), this is a really solid local bank.
These are the pros of this bank:
- Quite low fees.
- Mobile apps are available and provide a convenient mobile banking service.
- A great range of financial products on offer.
- A pretty solid financial health of the bank overall.
Yet, there are also cons as well:
- A limited number of ATMs and branches.
- The quality of online customer service is not that good.
In addition to all this info, you can also get to know how to make use of the online banking system from the State Bank of the Lakes. For that purpose, please visit the State Bank of the Lakes online banking guide page.