Peak Bank

Deposits held and insured by Idaho First Bank

Overview / Commentary
866-484-5705
475 E. Deinhard Lane
McCall, ID 83638
Deposits held and insured by Idaho First Bank

Written by Melanie Pincus | Edited by Ali Cybulski | Published on 06/04/2025

Peak Bank is an online-only division of Idaho First Bank, a traditional bank based in McCall, Idaho. Idaho First Bank was founded in 2005 and serves customers in Idaho and central Oregon, though Peak Bank operates nationwide.

As a digital-only organization, Peak Bank doesn’t have branch locations. The bank doesn’t advertise ATM access on its website, and its products don’t require it. Peak Bank only offers consumer accounts, not business accounts.

  • Savings account: Peak Bank offers a high-yield savings account (HYSA) with a $100 minimum balance to open. The account earns its highest rate until your balance hits $10 million, at which point the interest rate drops. Once you’ve had the account for five business days, you can transfer funds externally. HYSAs are useful for stashing funds at competitive interest rates while maintaining easy access to your money.
  • Certificates of deposit (CDs): Peak Bank offers two short-term CDs, a medium-term CD and a long-term CD. As is typical, an early withdrawal penalty applies if you withdraw money from a CD before its maturity date. Aim to deposit only money you can keep in the account for the full term.

Customer service: Contact Peak Bank at 866-484-5705 from 9 a.m. to 5 p.m. Mountain time Monday through Friday. The bank also offers support by email at [email protected].

Idaho First Bank has an A+ rating from the Better Business Bureau. Trustpilot doesn’t have many Peak Bank reviews at this time. 

Peak Bank customers can use the Idaho First Bank app for mobile banking, which is highly rated in the Apple and Google app stores.

Pros and cons of Peak Bank


Pros Icon

PROS


• Charges no monthly maintenance fees for the HYSA

• Requires a relatively low minimum opening deposit for most CDs ($500)

• Serves customers nationwide




Cons Icon

CONS


• Operates without physical branch locations

• Offers a limited product line that does not include checking accounts

• Provides limited review information online

Customer V Account

I too was confused by "customer" and "account," but after reading a post here from Customer Service that a Peak Bank account holder may open another account that offers a higher APY. I did that with no problem, and a few days later transferred the majority of funds from my existing saving account to the new account now earning a higher rate. No bumps in the road along the way.

Plaid Is Not Required

Posted by: |

I just opened an account, and they took the initial deposit from my local credit union. Now I'm waiting for the trial deposits to confirm there is a connection. I don't know why, since they show my deposit and the credit union shows it IS gone.

They Force You To Use Plaid For Initial Funding

Their online application requires an initial funding transfer, which can only be done thru Plaid. There is no option to use the traditional account number/routing number method where they send you test transactions and you verify the amounts. Instead, they force you to log into your external bank account and grant a third party company, Plaid, full access to all your banking data, including full statements, balances, transactions, cancelled checks etc. It's a security nightmare. Imagine if Plaid were to get hacked! I won't spend any more time talking about why this is a terrible idea, because there is already plenty of good info online about this. Anyway, I called the bank and asked if I could bypass Plaid and fund my new account another way, but they said they were not allowed to do that. So I had no option but to cancel my application. I give them points for answering the phone promptly, but that's the only good thing I can say about them. Hard to respect a bank that doesn't respect my data.

Deceptive Bank

The APY IS NOT 4.75%. This bank will lure you in and then after a week they will lower the rate to 4%. without any notification hoping you won’t notice
Then if you question why the rate is not as advertised they will tell you the 4.75 is for
NEW customers only !!!
A week later you’re not considered a new customer anymore !!!

How disgusting this bank is. They need to be reported immediately. Shame on them

They are sneaky thieves and cannot be trusted at all.
Idaho First DBA. “peak bank “ should be ashamed of themselves for exploiting unsuspecting consumers HOW dare they
They’re criminals

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Health
A+

Data as of Q1 2025

Data displayed below is for insuring bank: Idaho First Bank
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #58095
Year Established2005
Employees91
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.71%
Return on Equity - YTD7.1%
Annual Interest Income$12.3MM
Assets and Liabilities
AssetsQ1 2025vs Q1 2024$961.6MM$655.4MM
LoansQ1 2025vs Q1 2024$571.6MM$535.1MM
DepositsQ1 2025vs Q1 2024$863.1MM$577.1MM
Equity CapitalQ1 2025vs Q1 2024$94.2MM$68.6MM
Loan Loss AllowanceQ1 2025vs Q1 2024$7.4MM$6.8MM
Unbacked Noncurrent LoansQ1 2025vs Q1 2024$0$1.7MM
Real Estate OwnedQ1 2025vs Q1 2024$0$0
Rates
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Peak Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.44%$0$10mEnvision High Yield Savings

Peak Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.16%$1k-11 Month CD Special
3.70%$500-12 Month CD
3.34%$500-24 Month CD
3.14%$500-36 Month CD
Locations

Peak Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 475 E. Deinhard Lane - McCall, ID 83638

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.