Rising Bank

Deposits held and insured by Midwest BankCentre

Overview / Commentary
888-222-9484
2191 Lemay Ferry Road
Lemay, MO 63125
Deposits held and insured by Midwest BankCentre

Rising Bank is an online subsidiary of Midwest BankCentre, a well-established community bank based in St. Louis with total assets worth $1.9 billion. Rising Bank was launched in 2018, and carries a bare-bones suite of savings products, including:


  • A high-yield savings account

  • Term CDs (1-, 2- and 3-year terms available)

  • A jumbo CD (2-year term available)

  • Rising CDs (18- and 36-month terms available)


Each product comes with fairly standard terms. You can make up to six withdrawals per month from the high-yield savings account, and CDs will automatically renew unless you withdraw the money during a 10-day grace period.

The bank’s Rising CDs, on the other hand, are a unique twist on a traditional bump-up CD. You can opt to boost your interest rate once per term (or twice per term, for 36-month Rising CDs) if the rates that the bank offers do indeed increase. You can also make an additional deposit at any time (or two deposits, for 36-month Rising CDs), but each deposit has to be at least $5,000 or more.

The rates offered on each of these accounts are very competitive, and land near the top of the class within each of the product categories on DepositAccounts. In addition, there are no monthly fees with any of its accounts, although you do need to keep a high minimum deposit amount (at least $1,000 for its term CDs and high-yield savings account, $25,000 for Rising CDs and $100,000 for jumbo CDs) in order to earn any interest.

Rising Bank’s website is clean and easy to navigate, which isn’t surprising given that it only offers a small suite of products. All of your account management can be done from its online site. The bank also offers a mobile app, although it’s unclear if you can use it to do certain commonplace things, such as deposit a check into your savings account or open a new account type.

Related Posts

Rising Bank Rates Somewhat Increased - 3/21/2020

Rising Banks rates have rebounded somewhat (all rates are APY): HYS was 1.02% now 1.50% CDs are all up as well: 1 Year was 1.00% now 1.40% 18 month rising was 1.00% now 1.40% All longer formats were 0.95% now 1.20%

Rising Bank High Yield Savings Now Down To 1.02% APY - 3/17/2020

It is barely worth mentioning this in these days of free-falling rates, but Rising Bank's High Yield Savings is down to 1.02% APY as of this morning. I only point it out because, in my experience, ACH orders initiated on RIsing's end before 2:30 pm central time usually post that same evening to both sides of the transaction. Jumping out of this account before then could get your money to a better holding spot in a hurry. Don't forget, this account has a $1000 balance requirement to earn the stated rate. I pulled out all but $10 from this account myself.

Rising Bank Savings Rate Falls To 1.80% APY - 2/29/2020

While confirming that our EOM pay was properly distributed, I found that Rising is lowering their savings rate come 3/1/20. Was 1.90% APY, now 1.80% APY.

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Quick And Painless Signup Process

Responsive, well designed web & mobile UI, was able to signup and get my account funded pretty quickly.

No Problems

Posted by: |

Opened account without a hitch.

2 comments
1) the fact that this online bank only offers savings and cd products at this time means the number of fees or charges they plan to assess is very small.

2) APY (Annual Percentage Yield) factors the compounding frequency. So an APY of 2.45 is the same for any compounding period (daily, monthly, quarterly or annually) though the stated periodic interest rates would differ. 2.45 APY vs 0.01% offered by many traditional banks....well you decide

Interest Is Not Compounded

Posted by: |

Read their disclosure statement, the fine print. They do not compound interest on their High Yield Savings account.

They Need My Funding Bank's Login Credentials

I planned to open a CD and fund it from my checking account at another bank. Rising Bank asked me to read and agree to terms and privacy practices of their partner company I didn't know and then asked for my checking account login credentials. Risky for several reasons. I ended the application, took my money elsewhere.

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Health
A

Data as of Q4 2019

Data displayed below is for insuring bank: Midwest BankCentre
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #1058
Year Established1906
Employees253
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.59%
Return on Equity - YTD5.88%
Annual Interest Income$73.5MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$2.05B$1.95B
LoansQ4 2019vs Q4 2018$1.51B$1.41B
DepositsQ4 2019vs Q4 2018$1.58B$1.41B
Equity CapitalQ4 2019vs Q4 2018$206.0MM$193.9MM
Loan Loss AllowanceQ4 2019vs Q4 2018$15.5MM$15.3MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$4.0MM$5.8MM
Real Estate OwnedQ4 2019vs Q4 2018$1.0MM$1.9MM
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Rising Bank Rates Somewhat Increased

  |  
Rising Banks rates have rebounded somewhat (all rates are APY):

HYS was 1.02% now 1.50%

CDs are all up as well:
1 Year was 1.00% now 1.40%
18 month rising was 1.00% now 1.40%
All longer formats were 0.95% now 1.20%

Rising Bank High Yield Savings Now Down To 1.02% APY

  |  
It is barely worth mentioning this in these days of free-falling rates, but Rising Bank's High Yield Savings is down to 1.02% APY as of this morning.

I only point it out because, in my experience, ACH orders initiated on RIsing's end before 2:30 pm central time usually post that same evening to both sides of the transaction. Jumping out of this account before then could get your money to a better holding spot in a hurry.

Don't forget, this account has a $1000 balance requirement to earn the stated rate. I pulled out all but $10 from this account myself.

Rising Bank Savings Rate Falls To 1.80% APY

  |  
While confirming that our EOM pay was properly distributed, I found that Rising is lowering their savings rate come 3/1/20. Was 1.90% APY, now 1.80% APY.

Rates
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Always verify rates and promotions with the bank or credit union. We are not Rising Bank; we are a rate comparison website and cannot provide official rates or promotions.

Rising Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.55%$1k$500kHigh Yield Savings Account

Rising Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.65%$5k$500kRising Checking

Rising Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.55%$1k$500k1 Year Term CD
1.40%$25k$500k18 Month Rising CD
1.20%$1k$500k2 Year Term CD
1.20%$1k$500k3 Year Term CD
1.20%$100k$500k2 Year Jumbo CD
1.20%$25k$500k36 Month Rising CD
Locations

Rising Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 2191 Lemay Ferry Road - Lemay, MO 63125

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.