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:
Responsive, well designed web & mobile UI, was able to signup and get my account funded pretty quickly.
To start, let me say that the folks who handle customer support at Rising Bank are friendly and competent. They fix stuff when it doesn't work and have been very honest in my experience.
The small gotcha I want to mention is that Rising Bank's no-penalty CDs are not exactly no-penalty.
If you need to close a CD early, you will not be credited with that month's interest if you do so before the posting date (monthly anniversary of the account opening date).
I had a few no-penalty CDs I needed to close just before the actual maturity and called to do this, but, as I mentioned above, the agent I spoke with was unfailingly honest and said that the last month's interest would not post since the posting date had passed.
I decided to pull the money from a regular savings account and hang in there for the remaining two weeks and let the CDs mature, at which point, I'd close them out through the web banking messaging feature.
Again, small gotcha, wish this wasn't the case, but I was warned and given the option, so kudos for honesty and being upfront.
Read their disclosure statement, the fine print. They do not compound interest on their High Yield Savings account.
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https://open.risingbank.com/?prod=hys
Rising Bank Fee Schedule:
The fee schedule is pretty blank and seriously lacking information. Below is the only information included on the fee schedule.
RISING BANK FEE SCHEDULE
Following are fees that may be assessed based on your account type. Please contact us at 1-888-222-9484 with questions.
Wire Transfer Service: Outgoing Domestic Wire Transfer $24.00 per item
Other Fees: Chargeback $12.00 per item
Overall | |
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FDIC Certificate # | 1058 |
Year Established | 1906 |
Employees | 274 |
Primary Regulator | FED |
Profit Margin | |
---|---|
Return on Assets - YTD | 1.02% |
Return on Equity - YTD | 9.65% |
Annual Interest Income | $77.6MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q4 2021vs Q4 2020 | $2.37B$2.27B |
Loans | Q4 2021vs Q4 2020 | $1.81B$1.80B |
Deposits | Q4 2021vs Q4 2020 | $1.89B$1.73B |
Equity Capital | Q4 2021vs Q4 2020 | $266.4MM$218.3MM |
Loan Loss Allowance | Q4 2021vs Q4 2020 | $21.8MM$19.8MM |
Unbacked Noncurrent Loans | Q4 2021vs Q4 2020 | $5.7MM$6.1MM |
Real Estate Owned | Q4 2021vs Q4 2020 | $904.00K$1.0MM |
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.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
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0.65% | $1k | $500k | High Yield Savings Account |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.30% | $5k | $500k | Rising Checking |
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