Community Financial Services Bank

Overview / Commentary
221 West Fifth Street
Benton, KY 42025

Community Financial Services Bank is headquartered in BENTON and is the 13th largest bank in the state of Kentucky. It is also the 775th largest bank in the nation. It was established in 1890 and as of March of 2024, it had grown to 235 employees at 8 locations. Community Financial Services Bank's savings rates are 4X the national average, and it has a B health rating.

Reviews (2)

Great People / Great Service

Posted by: |

CFSB has been our bank for years. We love the people and leadership. Not going anywhere:)

Careful About Cds With CFSB

Posted by: |

CFSB service is top notch. Friendly staff in person and also quick answers to questions via messaging with online banking.

However, our CD experience was lackluster. We were out of town around the time of a CD maturity and renewal date and failed to call the bank durning the 10 day period at maturity. The mailed notice said our 10 month CD would auto-renew for 24 months but did not list the new rate. It said you must call the bank. We failed to call the bank and a CD that originally had one of their special rates at 4.19% renewed for 24 months at 0.15%. Oh, and the same month the bank web site advertised a 17-month CD special of 4.87%, a fixed rate CD.

Our CD paperwork said the renewal term would be either the same term (10 months) or the next longer term available for "standard rates". The web site publishes only the special rate CDs. We learned in person at the bank that the special CD term/rates advertised are NOT considered standard. And a CD auto-renew will NEVER choose a special CD term and rate, even though their web site doesn't even publish the standard term/rate CDs. And on top of that the penalty for withdrawing the CD early is 6 months interest PLUS $35, even if you close the CD within just a couple weeks after maturity.This penalty was clearly spelled out in the original paperwork. So our bad. But, the paperwork did NOT distinguish between the classification of CD special term/rates and standard CD term/rates.

We left the bank feeling a bit abused because of the difference between advertised CD term/rates vs the very low rate standard term rates which are unpublished on the web site.

The CD treatment felt very underhanded. Advertise one thing, but don't publish the very poor rate that existing customers end up getting if they don't call the bank.

We were told that had we called the bank within the 10 days of CD maturity that they would have honored the 17 month special CD rate for the renewal. Imagine that. One must call the bank to receive reasonable treatment. One would have thought that the CD would renew with a published term/rate from the web site. Nope.

Just be careful with this bank regarding CDs.

In closing, they are an excellent bank, but this experience brought them down a couple notches in our opinion.


Health Grade Components

FDIC Certificate #287
Year Established1890
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.3%
Return on Equity - YTD4.4%
Annual Interest Income$17.1MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$1.4B$1.39B
LoansQ1 2024vs Q1 2023$967MM$952.5MM
DepositsQ1 2024vs Q1 2023$1.25B$1.25B
Equity CapitalQ1 2024vs Q1 2023$94.6MM$99.7MM
Loan Loss AllowanceQ1 2024vs Q1 2023$16.3MM$15.8MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$7.2MM$4.3MM
Real Estate OwnedQ1 2024vs Q1 2023$47K$61K
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Always verify rates and promotions with the bank or credit union. We are not Community Financial Services Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Community Financial Services Bank Savings Account Rates

2.07%*$250k*-Premier Advantage Savings
OTHER TIERS: 1.55% $50k - $249k
0.25%*$250k*-Community Savings
OTHER TIERS: 0.05% $0 - $10k | 0.10% $10k - $25k | 0.15% $25k - $100k | 0.20% $100k - $250k

Community Financial Services Bank Checking Account Rates

0.25%*$250k*-Community Plus Checking
OTHER TIERS: 0.05% $0 - $10k | 0.10% $10k - $25k | 0.15% $25k - $100k | 0.20% $100k - $250k

Community Financial Services Bank CD Rates

5.00%$1k-7 Month CD Special
4.50%$1k-13 Month CD Special

Community Financial Services Bank IRA Rates

5.23%$25-12 Month Variable IRA
5.00%$1k-7 Month IRA Special
4.41%$1k-13 Month IRA Special

Community Financial Services Bank Locations
Calloway County Banking Center Branch1721 North 12th StreetMurray, KY 42071
Draffenville Banking Center Branch23 Highway 68 WestBenton, KY 42025
Mccracken County Banking Center Branch3390 Park AvenuePaducah, KY 42001
Calvert City Banking Center Branch456 5th AvenueCalvert City, KY 42029
Community Financial Services Bank221 W 5th StBenton, KY 42025
Mccracken County Banking Center - So2550 Irvin Cobb DrivePaducah, KY 42003
Graves County Banking Center Branch100 Dick Castleman BypassMayfield, KY 42066
Calloway County Sycamore Banking Cen414 S 12th StreetMurray, KY 42071

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