Neighbors Bank


Overview / Commentary
833-514-4190
1801 Westfall Drive, Suite 105
Columbia, MO 65202

Neighbors Bank is based in Missouri and offers a competitive high-yield online savings account. Founded in 1945, the bank has developed a niche lending to first-time home buyers in 49 states using industry-leading technology.

Neighbors Bank’s high-yield online savings account offers an attractive APY, no monthly service fee, and deposits and withdrawals through ACH. Neighbors Bank offers mobile apps for iOS and Android and a convenient online banking platform.

Related Posts

Neighbors Bank Finally Joined The 4% Club - 12/22/2022

Even if Neighbors started accepting new account sign-ups, the bank might prove undesirable because they require a minimum of $25,000 to get the higher rate, and one can get a higher rate elsewhere, of course. I am only posting this info for anyone who, like me, kept their Neighbors Bank Savings Account open, which proved to be one of the highest paying accounts during the zero Fed rate period. Neighbors never dropped below 0.70% APY and remained a rate leader for a long time. Today, Neighbors raised the rate for existing accounts to 4.01% APY. "If your daily balance is $25,000.00 or more, the interest rate paid on the entire balance in your account will be 3.94% with an annual percentage yield of 4.01%." If your balance is under $25K, you get a measly 0.50% APY.

Neighbors Bank Increased To 2.91% $25K Minimum Req. (No New Accounts Right Now) - 10/14/2022

This is for information-only just to anyone who kept their Neighbors Bank Savings Account, as I have. Neighbors Bank was a rate leader when their Online Savings account was first created, and they maintained one of the highest rates during the zero-rate Pandemic period, never falling below 0.70% APY. ($25K balance minimum required to get the higher rate.) They were inundated with new accounts, which is why they stopped accepting newbies. They still have a "submit your email address to be notified when newbies will be accepted again" box on their site, although with their $25K minimum and the fact they still have not crossed 3% yet, I doubt anyone will submit their email address, of course. Neighbors Bank raised the rate today to 2.91% APY, still requiring $25K minimum to get that rate.

Neighbors Bank Increased to 2.61% APY $25K Minimum (not accepting any new accounts at this time) - 9/27/2022

For anyone like myself who held onto their Neighbors Bank savings account (which was one of the highest paying during the pandemic, where they never went lower than 0.70% APY when the Fed rate was 0), their rate increased today from 2.30% to 2.61% APY (for balances $25,000+). This notice is not for anyone wanting a new Neighbors account, as they are not accepting new accounts at this time (not that anyone would want a new account, since we can get higher than that at other places, with no $25K minimum). This notice is just for information purposes only.

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A True Neighbor

I have never been this happy with a bank before. The customer service is incredible. Neighbors Bank has my best interest at heart AND the best interest!!

Great Customer Service

Posted by: |

I opened a savings account with Neighbors Bank a while back and I could not be happier. Everyone there I have talked to has been super helpful. I am about to start shopping for a home and plan to use Neighbors for my mortgage as well. I definitely would recommend.

Horrible Experience

We are out THOUSANDS because of your company. There was so much back and forth over these 10 weeks. We were even told we were approved and then got a call saying it was denied over something that should have been seen by them FROM THE BEGINNING! We got the clear to close, paid the closing costs, and had it all ripped away in an instant. We feel like we were scammed by this awful company! Why on earth would they tell us we are approved and give us the clear to close then slap us with a denial THE DAY BEFORE CLOSING?!?! We are filing a formal complaint to the BBB and possibly pursuing legal action after talking to my lawyer. We put in an offer on June 19th on this house, and august 31st they denied it. So much money and time wasted. We were packed, had utilities switched to our name, paid closing costs, escrow….everything. All of it for NOTHING! It should have never made it this far. I don’t recommend an internet lender ever because they don’t care about you at all.

Extremely Easy On All Fronts

Posted by: |

I have been working with Neighbors for over a year now and all the products and people have been extremely easy to work with. I have a savings account with them and also decided to close on my new home with Neighbors too. With all their transactions the process seems very straightforward and whenever I have a question their staff responds immediately and addresses any concerns.

Also it does not hurt that they seem to have very competitive rates across the board!

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Health
C+
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. Neighbors Bank has a relatively low asset base, and a negative return on equity.

Health Grade Components

Overall
FDIC Certificate #16247
Year Established1945
Employees134
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD-3.43%
Return on Equity - YTD-22.54%
Annual Interest Income$751.00K
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$66.3MM$77.4MM
LoansQ2 2022vs Q2 2021$30.8MM$26.5MM
DepositsQ2 2022vs Q2 2021$52.4MM$65.1MM
Equity CapitalQ2 2022vs Q2 2021$11.9MM$10.6MM
Loan Loss AllowanceQ2 2022vs Q2 2021$182.00K$130.00K
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$0$0
Real Estate OwnedQ2 2022vs Q2 2021$0$0
Rates

Sorry, we do not have rate data for Neighbors Bank.

Locations


Neighbors Bank Locations
Clarence State Bank101 E Chestnut StClarence, MO 63437

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.