state bank of cross plains

Only a few banks have a large community for banking and the State Bank of Cross Plains is one of them. For many reasons, it’s one of the best banks in Serving Dane, Green, and Rock County, Wisconsin.

Like other competitive community banks, this one also offers different but effective personal and business financial services. For general banking, business lending, real estate, wealth management, and financial advisory service, this bank comes with lots of contemporary products.

They set their branches in different locations to keep the customer in touch all the time. Without knowing details it’s hard to judge how good this bank is for the people. Let’s jump into the deep.

Picture: State Bank of Cross Plains
Picture: State Bank of Cross Plains

What Is the State Bank of Cross Plains?

State Bank of Cross Plains is known as one of the best community banks that started its banking service in 1908. This 112-year-old bank established its headquarter in Cross Plains, Wisconsin. This place is near Madison.

At first, they were focusing on serving the community of Madison and its surrounding areas. This is the reason, most of the people of this area give priority to this bank for their daily banking. It offers different types of accounts. Even they have a strong and active online presence as well.

Some people rate this bank as the best option for numerous lending and investment. To meet your personal financial need, this bank could be your ultimate option.

Picture: Homepage of State Bank of Cross Plains
Picture: Homepage of State Bank of Cross Plains

Assets and Liabilities Status:

When you look at the details of this bank to find out the financial strength, it will be easy to make decisions for daily banking.

Assets and LiabilitiesQ1 2021Q1 2020
Assets$1.65B$1.34B
Loans$1.18B$1.06B
Deposits$1.45B$1.08B
Equity Capital$168.7MM$156.7MM
Loan Loss Allowance$12.4MM$9.3MM
Unbacked Noncurrent Loans$4.3MM$9.5MM
Real Estate Owned$184.00K$0

What Are Financial Products?

This bank offers different types of products and most of them are suitable for everyone.

Personal Banking

Accounts & Cards:

  • Checking
  • Savings & CDs
  • Debit Cards
  • Credit Cards
  • uChoose Rewards

Digital Banking

  • Online Banking
  • Mobile Banking
  • Online Bill Pay
  • Card Manager
  • Zelle
  • Mobile Wallet
  • Alerts & eDocuments
  • Credit Sense

Mortgages

  • Mortgage Loan Options
  • First-Time Homebuyer
  • Refinance
  • Construction & Lot
  • HELOC
  • Meet The Mortgage Team

Loans:

  • Home Equity
  • Personal Loans
  • Students Loans

Private Banking:

Business Banking

By Industry:

  • Commercial Real Estate
  • Construction
  • Manufacturing
  • Retail
  • Agriculture
  • Nonprofits
  • Public Depositories
  • Professional Services

Financing

  • Loans & Letters of Credit
  • Leasing

Treasury Management:

  • Payment Solutions
  • Fraud Protection
  • Checking
  • Credit Cards
  • Investments & Savings

Digital Banking

  • Online Banking
  • Mobile Banking
  • eCourier
  • Account Alerts
  • Online Bill Pay
  • CardValet

Business Wealth Management:

Wealth Management

Investment:

  • Investment Management
  • Financial Planning
  • Retirement Planning

Trustee & Estate

  • Fiduciary Services
  • Choosing the Right Trustee
  • Charitable Giving Plan

Business Wealth Management:

  • Employee Retirement Plans
  • Trustee & Estate Services
  • Investment & Cash Management
  • Financial Planning

SB Financial Services

  • Insurance and Risk Management
  • Digital Investing Solution
  • Meet Our SB Financial Team

Private Banking:

What Are the Key Features?

After reviewing all the details and other facilities we’ve found some key features of this bank and these are.

  • Convenient 24-hour access
  • Online account management system
  • Download statements
  • Pay your bill online
  • Online Customer Service
Picture: Branch of State Bank

What Are The Product Rates?

Check all the popular product rates of this bank and compare them with the notational average.

ProductCurrent Terms and RatesMinimum Balance
Savings Account0.05% APY$200
Certificates of Deposit12 Month: 0.25% APY24 Month: 0.35% APY36 Month: 0.55% APY48 Month: 0.65% APY60 Month: 1.26% APY$2500 for all terms
Money Market Accounts0.05% APY0.1% APY$10000$15000

Based on the rates, we found some products that are perfect for daily banking and some are not. We tried to compare the rate with the national average. A person always wants a convenient banking service along with the lowest rate and highest return.

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To get a high return, the decision is up to you. Remember, for the saving rate, we found 0.05% where the national average is 0.09%.

What about the Fees?

In many ways, the State Bank of Cross Plains is best but for the charge, it’s not good at all. After the comparison, the fees seem above average than the national average.

It also charges an out-of-network ATM fee. To save your money from such types of charges, you must find a State Bank of Cross Plains. Even the overdraft fee is also $35. The good news is this fee is lower than the national average. Take a quick look at the fees.

ParticularsSBCPNational Average
Monthly Fee$5.00$3.21
Non-network ATM Fee$2.5$1.2
Overdraft Fee$35.00$35.00

What about The Service Quality?

To ensure better service, this bank has 19 branches. These branches play a vital role to keep the customer in touch. To make the banking service more convenient this bank offers access to mobile and web apps.

Through these media, clients can get an easy mobile-banking experience. But for the customer service, you can get all-day service. It’s only possible when the bank is open. From the customer, their mobile apps got a fair rating. That means, this app is more user-friendly and keeps everything flexible.

Picture: Mobile app in play store

You can use it on both iOS and Android platforms. It got a 3.7 rating out of 5. So, as a client, you can easily manage your account as well as money through making transfers, paying bills, downloading statements, and many more.

If you can’t reach customer service physically, then this app is the way to reach them. It has the option to reach customer service. Here is the rating for different services of this bank.

  • Overall Mobile Rating: 3.7/5
  • Consumer Satisfaction Rating 5.0/5
  • Online Banking Portal: No
  • Live Chat: No

Read More: The History of Legence Bank And Their Proud Heritage

Conclusion:

For potential customers, the State Bank of Cross Plains offers different account types and other online tools that make banking easy. From mortgage to a personal loan, every type of account is available.

Undoubtedly, it’s the best bank in Madison, Wisconsin. To maintain a low balance this could be your bank. Down worry about your low liquidity, this bank has its method to keep you happy.

To enjoy flexible financial service with easy reach, we choose this bank. For in-person banking, especially to get higher-yield money market or CD accounts, this bank of Wisconsin is the most secure place.

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