Equity Bank

Overview / Commentary

www.equitybank.com

316-733-5041

345 North Andover Road
Andover, KS 67002

Equity Bank is headquartered in ANDOVER and is the 4^th largest bank in the state of Kansas. It is also the 270^th largest bank in the nation. It was established in 1985 and as of June of 2024, it had grown to 792 employees at 72 locations. Equity Bank's money market rates are 7X the national average, and it has an A health rating.

View all posts from:

2007
2006

4/2 - 6.01% Rewards Checking Account at a Kansas/Missouri Bank (Equity Bank)

10/29 - 5.70% 7-Month CD at a Kansas Bank (Equity)

Reviews (1)

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Great Rate But Difficult To Close Money Market Account

Posted by: quick12q | Dec 11, 2023

I discovered their Luminary Money Market account and invested in 2023. It was quite easy to open the account and to set up online transfers; however each ACH transfer from their platform costs $2.55 which is quite unusual. I asked for a set of checks and they sent a very generous supply.
My wife and I agreed that all our accounts should be JOINT and there was no way to convert my MMA with them to a joint account, so I called to close it. I was told to move all the funds out and then call to close the account, which I did. However I got a letter in the mail that I had overdrawn by $2.55 - the ACH transfer fee - so I had to mobile deposit a check. I messaged them asking to close the account and was told they would. However the account stayed open with $1.73 interest added and a $10 monthly below-balance service charge added. Calling a 3rd time they waived the $8.27 deficit and finally closed the account!
If I had been able to make it a joint account, I would have kept it and enjoyed the flexibility of occasionally writing large value checks on it at times that I would not want to charge my regular checking account.
They now offer a Surge MMA with 5.35% APY which is quite good.

Comment

Health

Data as of Q2 2024

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	25858
Year Established	1985
Employees	792
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	1.14%
Return on Equity - YTD	11.02%
Annual Interest Income	$146.5MM

Assets and Liabilities
Assets	Q2 2024vs Q2 2023	$5.24B$5.09B
Loans	Q2 2024vs Q2 2023	$3.41B$3.28B
Deposits	Q2 2024vs Q2 2023	$4.36B$4.25B
Equity Capital	Q2 2024vs Q2 2023	$533.1MM$497.7MM
Loan Loss Allowance	Q2 2024vs Q2 2023	$43.5MM$44.5MM
Unbacked Noncurrent Loans	Q2 2024vs Q2 2023	$19MM$12.5MM
Real Estate Owned	Q2 2024vs Q2 2023	$3MM$4.4MM

Rates

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Savings
Money Market
Checking
CD

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Always verify rates and promotions with the bank or credit union. We are not Equity 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.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Equity Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.05%^†	$0	-	Equity ECO Savings
0.05%^†	$0	-	Health Savings Account
0.05%^†	$0	-	Christmas Club Savings

Equity Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
3.01%^*^†	$100k^*	-	Prestige Money Market
OTHER TIERS: 0.05% → $0 - $25k \| 0.50% → $25k - $100k
2.01%^*^†	$100k^*	-	Equity Chrome Money Market
OTHER TIERS: 0.05% → $0 - $25k \| 0.50% → $25k - $100k
1.01%^*^†	$100k^*	-	Titanium Money Market
OTHER TIERS: 0.05% → $0 - $25k \| 0.50% → $25k - $100k
0.10%^*^†	$25k^*	-	Ignite Money Market
OTHER TIERS: 0.05% → $0 - $25k

Equity Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.05%^*^†	$5k^*	-	Community Checking
OTHER TIERS: 0.03% → $0 - $5k
0.05%^†	$1k	-	Sole Proprietor Checking
0.03%^†	$0	-	Rewards Checking

Equity Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
3.60%^†	$1k	-	13 Month CD Special - New Money
2.41%^†	$1k	-	19 Month CD
1.11%^†	$1k	-	7 Month CD
0.75%^†	$1k	-	25 Month CD
0.25%^†	$1k	-	2 Year CD
0.25%^†	$1k	-	3 Year CD
0.25%^†	$1k	-	4 Year CD
0.25%^†	$1k	-	5 Year CD
0.25%^†	$1k	-	59 Month CD
0.15%^†	$1k	-	1 Year CD
0.10%^†	$1k	-	6 Month CD
0.05%^†	$1k	$250k	90 Day CD

Locations

Availability

Wichita Area

Wichita Area bank & credit union details

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