Bank7 is headquartered in Oklahoma City and is the 14th largest bank in the state of Oklahoma. It is also the 939th largest bank in the nation. It was established in 1901 and as of September of 2020, it had grown to 79 employees at 10 locations. Bank7 has a B health rating.
Easy opening over weekend so far seems like a great place to stash/accumulate funds for CD's while earning a decent rate. As you do not get ach capabilities from Bank7 with just a savings(not sure if available with checking) I set ach up from my local institution an verification deposits were in my Bank7's account Tuesday. I did have the chance of calling Bank7 everyone I had talked with were helpful and if did not know answer went and asked to find out unlike some of my other accounts in other banks.
Overall Rating I think if you branch is local to you it is worth it for a savings now great rate easy access so far great CS again so far.
CS 5's across the board
WEB could use some more features but I am really just after the rate.
Competitive products like I said I'm after the rate and 2%+ ain't bad
Fees we'll see I really don't pay fees most likely they're exorbitant but figure if you screwed up don't bi^ch an moan just pay the piper move on an be done with it.
I am waiting to see speed of incoming transfers I made one yesterday I called Ashley said it is showing an should be in account tom. for me that is above average but time will tell if all turns out well an good
Another plus I asked about a sheet of checks as I do not really use them an really would only use them if a local CD popped up they said no problem just stop by a branch other wise I can not remember the place they use but checks would run around $22plus.
Did I tell you it was a pleasure speaking with the CS reps from Bank7 it's just a nice change especially after talking to NASA's other day whew thats another review
I applied for the high yield saving account online through their website in May, 2019. I received no respond whatsoever regarding my application. No confirmation of the application. No approval. No rejection. No phone call. No mailing. No email.
I then realized that they checked my Chexsytem report, which I am certain I have no history. I just don't trust this bank anymore. Please be aware of this bank. They will get your information, check your report(s) and give you no respond. This sneaky bank won't do business with you if they don't feel like without telling you why.
I signed up for the Bank 7 high yield savings account for the advertised rate of 2.35% on 7/16/19. On 7/17/19 i was informed the account was created and ready for funding. I linked the Bank 7 account to my personal checking account at my credit union and made my first transfer. On Monday 7/22/19 i check the Bank 7 account and it shows the deposit but the interest rate is listed as 0.00%. I call the customer service line and am informed that the interest rate can take a few days to register in new accounts but I am earning 2.15%. I ask about the rate as I signed up at 2.35% just a few days prior. The CS agent tells me the rate is variable and changes as the bank board decides to change it. I selected Bank 7 for their rate of 2.35% as it was only .01% lower than a major bank offering 2.36% and I hoped the local bank in my own home state was more stable than the major chain who has been closing branches across the nation in the last few years. I will be taking my savings elsewhere and warning others of the bait and switch interest rates.
I asked Bank 7 why I can't find a link from their home page to get their interest rate information. It is something that any customer or potential customer would want to be able to access readily. Their response: "The link is not listed on our main website because these High Rate Online Accounts are only available to new customers."
That says something in itself.
|FDIC Certificate #||4147|
|Return on Assets - YTD||2.03%|
|Return on Equity - YTD||19.35%|
|Annual Interest Income||$40.1MM|
|Assets and Liabilities|
|Assets||Q3 2020vs Q3 2019||$972.4MM$825.8MM|
|Loans||Q3 2020vs Q3 2019||$869.8MM$666.8MM|
|Deposits||Q3 2020vs Q3 2019||$864.1MM$722.4MM|
|Equity Capital||Q3 2020vs Q3 2019||$104.2MM$99.6MM|
|Loan Loss Allowance||Q3 2020vs Q3 2019||$11.1MM$7.8MM|
|Unbacked Noncurrent Loans||Q3 2020vs Q3 2019||$18.9MM$1.6MM|
|Real Estate Owned||Q3 2020vs Q3 2019||$0$77.00K|
Sorry, we do not have rate data for Bank7.
|Camargo Bank7 Branch||68807 Broadway St||Camargo, OK 73835|
|Bank 7||1039 NW 63rd Street||Oklahoma City, OK 73116|
|Medford Branch||120 North First Street||Medford, OK 73759|
|Woodward Westside Branch||3300 Oklahoma Avenue||Woodward, OK 73801|
|Montezuma Branch||209 North Aztec Street||Montezuma, KS 67867|
|Copeland Branch||210 North Santa Fe Street||Copeland, KS 67837|
|Irving Branch||6460 North Macarthur Blvd||Irving, TX 75039|
|Frisco Branch||8837 Lebanon Road, Suite 100||Frisco, TX 75034|
|Tulsa Branch||1515 East 71st Street, Suite 100||Tulsa, OK 74105|