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 24th largest bank in the state of Colorado. It is also the 2,100th largest bank in the nation. It was established in 1980 and as of June of 2021, it had grown to 54 employees at 6 locations. 5Star Bank has an A+ health rating.

Reviews (1)

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
A+

Health Grade Components

Overall
FDIC Certificate #91005
Year Established1980
Employees54
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.14%
Return on Equity - YTD10.15%
Annual Interest Income$7.5MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$381.8MM$367.1MM
LoansQ2 2021vs Q2 2020$289.4MM$262.1MM
DepositsQ2 2021vs Q2 2020$329.6MM$293.5MM
Equity CapitalQ2 2021vs Q2 2020$45.5MM$40.6MM
Loan Loss AllowanceQ2 2021vs Q2 2020$4.1MM$5.2MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$293.00K$603.00K
Real Estate OwnedQ2 2021vs Q2 2020$0$0
Rates

Rates for 5Star Bank are currently being reviewed.

Locations


5Star Bank Locations
5 Star Bank - Downtown Branch104 S. Cascade Ave., Suite 102Colorado Springs, CO 80903
5star Bank10989 New Allegiance DriveColorado Springs, CO 80921
5star BankPeterson Air Force Base, 455 W. Paine St., Bldg. 1485Colorado Springs, CO 80914
Denver Dtc Branch5251 Dtc Parkway, Suite 100Greenwood Village, CO 80111
Trinidad Branch125 N Commercial StreetTrinidad, CO 81082

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