Overview / Commentary
2191 Lemay Ferry Road
Lemay, MO 63125

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New Internet Bank, Rising Bank, Launches with Savings Account and CDs - 2/7/2019

Rising Bank, the new internet division of Midwest BankCentre, opened its virtual doors for business. The product line debuted with a High Yield Savings account and CDs.

Reviews (7)

Just Awesome

Posted by: ABAG | Mar 6, 2019

Account opening was a breeze. Funding the account was instant. Adding the checking account as expected and was done on the next day. All of my ACH transfers are posted on the account on the next day. Customer service is outstanding. You can talk to a real person without waiting. The messaging platform within the app is also very efficient, You get a reply within hours. And most importantly, the interest rate is unbeatable so far! FDIC insured and backed by the Midwest BankCenter is the peace of mind you need for a saving account.

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: WTC1956 | Feb 11, 2019

Opened account without a hitch.

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: martic | Mar 17, 2019

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

Terrible ACH Performance

Everything was fine until I placed my 2nd transfer request. I initiated the request on 3/27 from the Rising Bank website to transfer money from my external checking account into my Rising Bank savings. Today is 4/1, and my account still shows no activity. Talked to customer service, who had no idea when the transfer is going to happen. They said maybe today. This is not how normal banks operate!!!

Terrible Website

Posted by: azdryheat | Mar 18, 2019

Tried to open an account for the high rates. Disclosure statement lists accounts as individual, joint and revocable trust. Several calls and they all say they only allow a trust to be a beneficiary.
Tried to open an account and could not get through the final process. Several more calls and they tell me that they show two pending accounts. Not worth the aggravation.

Impossible To Open Account. Not Ready For Prime Time Yet.

Posted by: enduser | Feb 4, 2019

Unable to open account:
It seems we are experiencing server errors.
Please try back later!

Rising Bank Fee Schedule:
The fee schedule is pretty blank and seriously lacking information. Below is the only information included on the 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


Health Grade Components

FDIC Certificate #1058
Year Established1906
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.82%
Return on Equity - YTD8.19%
Annual Interest Income$67.2MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$1.95B$1.88B
LoansQ4 2018vs Q4 2017$1.41B$1.32B
DepositsQ4 2018vs Q4 2017$1.41B$1.40B
Equity CapitalQ4 2018vs Q4 2017$193.9MM$189.8MM
Loan Loss AllowanceQ4 2018vs Q4 2017$15.3MM$14.8MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$5.8MM$9.5MM
Real Estate OwnedQ4 2018vs Q4 2017$1.9MM$3.5MM
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Rising Bank Savings Account Rates

2.45%$1k$500kHigh Yield Savings Account

Rising Bank CD Rates

2.95%$1k$500k2 Year Term CD
2.95%$100k$500k2 Year Jumbo CD
2.90%$1k$500k3 Year Term CD
2.90%$25k$500k36 Month Rising CD
2.85%$1k$500k1 Year Term CD
2.85%$25k$500k18 Month Rising CD

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

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