5Star Bank


Overview / Commentary
800-776-2265
455 W Paine St Bldg 1485
Colorado Springs, CO 80914

5Star Bank is headquartered in Colorado Springs and is the 28th largest bank in the state of Colorado. It is also the 2,205th largest bank in the nation. It was established in 1980 and as of June of 2022, it had grown to 55 employees at 6 locations. 5Star Bank has a B+ health rating.

Related Posts

5Star Bank Offers Leading Rates On 24/36/48 Month Variable IRA's (Colorado Only) - 6/17/2022

Availability: Colorado Only These are variable rate IRA CD's whose rates change monthly. According to the web site "For variable rate accounts, rates are subject to change after the account is opened at the Bank's discretion. Variable IRA rates are subject to change monthly, and are indexed to Treasury Securities with matching maturities as published in the Wall Street Journal the second Thursday of each month." So, if you are in Colorado and want to bet on rising Treasury rates, these are probably worth a look. One last point, the DA site currently classifies this bank as "nationwide". This is incorrect. This bank services Colorado residents only. Current rates: 24-month variable IRA 2.82% APY 36-month variable IRA 2.98% APY 48-month variable IRA 3.07% APY Details can be found here https://www.5star.bank/rates.html

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Reviews (2)

Local Only

Despite appearing in the tables as nationally available, this bank is local only

Nasty And Incompetent Bank

Posted by: |

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.



Health
B+

Health Grade Components

Overall
FDIC Certificate #91005
Year Established1980
Employees55
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.56%
Return on Equity - YTD12.35%
Annual Interest Income$8.2MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$360.9MM$381.8MM
LoansQ2 2022vs Q2 2021$287.5MM$289.4MM
DepositsQ2 2022vs Q2 2021$309.2MM$329.6MM
Equity CapitalQ2 2022vs Q2 2021$49.4MM$45.5MM
Loan Loss AllowanceQ2 2022vs Q2 2021$3.8MM$4.1MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$0$293.00K
Real Estate OwnedQ2 2022vs Q2 2021$0$0
Rates

Rates for 5Star Bank are currently being reviewed.

Locations


5Star Bank Locations
5 Star Bank - Downtown BranchPeterson Air Force Base, 455 W. Paine St., Bldg. 1485Colorado Springs, CO 80914
5star Bank10989 New Allegiance DriveColorado Springs, CO 80921
5star Bank104 S Cascade Ave Ste 102Colorado Springs, CO 80903
Denver Dtc Branch5251 Dtc Parkway, Suite 100Greenwood Village, CO 80111
Trinidad Branch125 N Commercial StreetTrinidad, CO 81082

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