RCB Bank is headquartered in Claremore and is the 6th largest bank in the state of Oklahoma. It is also the 324th largest bank in the nation. It was established in 1936 and as of June of 2017, it had grown to 703 employees at 52 locations. RCB Bank has an A health rating.
RCB Bank has been my bank for several years now. This bank has some great pros and a few cons. One of the pros is that if you accidentally run your account into the red, you have until the beginning of the following business day to deposit the money to right it before being charged all the associated fees. I can't tell you how many times I've avoided paying $28 over a $0.10 mistake because of this. Another pro is their many local branches. I live in a small rural area. Most banks in this area have one or two branches in the county. This bank has two branches in my town, and several in the surrounding towns.
The cons for this bank is that it because the branches are small, sometimes the local branch can't meet your needs. For instance, at one time my husband and I applied for a mortgage through them. While they advertise for mortgages, they actually send the application elsewhere. Unlike my previous bank, the loan manager wasn't someone I knew. Also the interest rate on savings accounts isn't the best in town.
My experience with RCB Bank was pleasant, but I was satisfied enough to continue banking with them. The employees are very friendly, so it seems as though they provide good customer service, however, they do not tend to go above and beyond to assist with personal issues for everyday customers. I had previously has problems with my debit card and needed it to make important purchases as soon as possible, but to change my PIN number I had to wait for a letter in the mail that would be expected to arrive almost a week and a half later. With most of the other financial institutions I have banked with, I am able to resolve any issues with my card within the branch. It seems as though RCB Bank is technologically behind since it is such a small local bank.
Stop payment charges on automatic withdrawals is outrages. RCB will put a 6mnth stop payment on for one charge. They request a $28.00 fee for every month. So, if you request someone/company to stop the automatic draft they refuse, RCB will charge for every month until they stop the draft.
|FDIC Certificate #||15399|
|Return on Assets - YTD||1.25%|
|Return on Equity - YTD||13.45%|
|Annual Interest Income||$47.7MM|
|Assets and Liabilities|
|Assets||Q2 2017vs Q2 2016||$2.81B$2.54B|
|Loans||Q2 2017vs Q2 2016||$1.67B$1.42B|
|Deposits||Q2 2017vs Q2 2016||$2.47B$2.20B|
|Equity Capital||Q2 2017vs Q2 2016||$272.1MM$266.8MM|
|Loan Loss Allowance||Q2 2017vs Q2 2016||$19.1MM$17.9MM|
|Unbacked Noncurrent Loans||Q2 2017vs Q2 2016||$7.8MM$6.4MM|
|Real Estate Owned||Q2 2017vs Q2 2016||$1.8MM$2.7MM|
Rates for RCB Bank are currently being reviewed.