Rising Bank

Deposits held and insured by Midwest BankCentre

Overview / Commentary
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.

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.

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.

Secret Transfer Limits Much Lower Than Published

Posted by: |

I was a customer for about 3 months, during which time I linked a handful of external accounts and initiated about 10 ACH transfers in the 4 figure range (half in, half out). There were no issues with any of the transfers.

Then the bank decided to close my account, claiming that ACH transfers between verified external accounts and an online savings account are "unusual".

Rising Bank clearly doesn't understand how to operate an online bank. I suggest avoiding this bank.

It's a shame since their mobile app and website interface are quite good. And it's easy to open and fund an account (requires Plaid or a debit card, not a credit card).



Data as of Q2 2021

Data displayed below is for insuring bank: Midwest BankCentre
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Health Grade Components

FDIC Certificate #1058
Year Established1906
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.95%
Return on Equity - YTD9.45%
Annual Interest Income$38.2MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$2.33B$2.34B
LoansQ2 2021vs Q2 2020$1.81B$1.77B
DepositsQ2 2021vs Q2 2020$1.80B$1.81B
Equity CapitalQ2 2021vs Q2 2020$258.9MM$211.2MM
Loan Loss AllowanceQ2 2021vs Q2 2020$20.7MM$17.0MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$6.0MM$4.4MM
Real Estate OwnedQ2 2021vs Q2 2020$919.00K$1.0MM
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Rising Bank Savings Account Rates

0.45%$1k$500kHigh Yield Savings Account

Rising Bank Checking Account Rates

0.30%$5k$500kRising Checking

Rising Bank CD Rates

0.55%$1k$500k3 Year Term CD
0.55%$100k$500k2 Year Jumbo CD
0.55%$25k$500k36 Month Rising CD
0.50%$1k$500k2 Year Term CD
0.45%$5k$500k18 Month Rising CD
0.45%$1k-15 Month No Penalty CD
0.40%$1k$500k1 Year Term 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

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.