5Star Bank is headquartered in Colorado Springs and is the 27th largest bank in the state of Colorado. It is also the 2,119th largest bank in the nation. It was established in 1980 and as of March of 2022, it had grown to 56 employees at 6 locations. 5Star Bank has an A health rating.
I opened one of their Kasasa Cash rewards checking accounts this spring, 2016. WARNING: If you want a straightforward, competent bank to deal with, this is NOT the bank for you. Less than 60 days after opening the account and receiving their debt card, they closed the account without any warning at all. They converted it to a no-interest checking account and didn’t even notify me of this account closing until after the change had occurred. They will close your rewards checking account very quickly if they don’t see an almost immediate high dollar volume of charges on your Kasasa rewards account, even if you make the required 12 debit card transactions per statement cycle.
During the brief time the account was open, they never successfully enrolled me in electronic statements in spite of my many phone calls requesting that they fix the problems with their banking systems. Further, they made 3 errors in computing interest on my rewards checking account in only 2 statement cycles! They are incompetent bankers with no intention of dealing honestly with their customers, in my opinion. Don’t waste your time trying to bank here.
|FDIC Certificate #||91005|
|Return on Assets - YTD||1.46%|
|Return on Equity - YTD||12.02%|
|Annual Interest Income||$4.0MM|
|Assets and Liabilities|
|Assets||Q1 2022vs Q1 2021||$383.0MM$403.2MM|
|Loans||Q1 2022vs Q1 2021||$285.7MM$273.7MM|
|Deposits||Q1 2022vs Q1 2021||$330.2MM$337.0MM|
|Equity Capital||Q1 2022vs Q1 2021||$48.5MM$44.2MM|
|Loan Loss Allowance||Q1 2022vs Q1 2021||$4.0MM$4.1MM|
|Unbacked Noncurrent Loans||Q1 2022vs Q1 2021||$247.00K$293.00K|
|Real Estate Owned||Q1 2022vs Q1 2021||$0$0|
Rates for 5Star Bank are currently being reviewed.
|5Star Bank Locations|
|5 Star Bank - Downtown Branch||Peterson Air Force Base, 455 W. Paine St., Bldg. 1485||Colorado Springs, CO 80914|
|5star Bank||10989 New Allegiance Drive||Colorado Springs, CO 80921|
|5star Bank||104 S Cascade Ave Ste 102||Colorado Springs, CO 80903|
|Denver Dtc Branch||5251 Dtc Parkway, Suite 100||Greenwood Village, CO 80111|
|Trinidad Branch||125 N Commercial Street||Trinidad, CO 81082|