5Star Bank is headquartered in COLORADO SPRINGS and is the 29th largest bank in the state of Colorado. It is also the 2,221st largest bank in the nation. It was established in 1980 and as of March of 2023, it had grown to 57 employees at 6 locations. 5Star Bank's money market rates are 6X the national average, and it has a B+ health rating.
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Local Only
Despite appearing in the tables as nationally available, this bank is local only
Nasty And Incompetent Bank
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.
Data as of Q1 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 91005 |
| Year Established | 1980 |
| Employees | 57 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.5% |
| Return on Equity - YTD | 10.08% |
| Annual Interest Income | $5.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2023vs Q1 2022 | $354.7MM$383.0MM |
| Loans | Q1 2023vs Q1 2022 | $318.4MM$285.7MM |
| Deposits | Q1 2023vs Q1 2022 | $280.3MM$330.2MM |
| Equity Capital | Q1 2023vs Q1 2022 | $53.9MM$48.5MM |
| Loan Loss Allowance | Q1 2023vs Q1 2022 | $3.8MM$4.0MM |
| Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $72.00K$247.00K |
| Real Estate Owned | Q1 2023vs Q1 2022 | $0$0 |