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Johnson Bank Review | Review, Fees, Offerings

Overview

Our Rating: 3.9/5

Founded in 1970, Johnson Bank has $5 billion in assets along with deposits totaling $4 billion, which makes it a large bank. Johnson Bank, whose headquarters are in Racine, Wisconsin, has above-average customer service access with all-day support available, great for getting help during the work week. It is a conventional brick-and-mortar bank, which means easier access to service representatives at a physical location, in addition to its online and mobile presence. Coming in at an average 4 stars out of 5, Johnson Bank is a good bank that deserves your consideration. 

Johnson Bank provides customers with a complete suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. Johnson Bank has a fair savings rate, which means you can find higher rates with other banks. The bank’s standard checking account maintains a monthly fee of $10.00, which may be better for customers that will always carry a large balance. Why have checking and savings accounts with one bank? Convenient transferring between the two accounts translates to higher interest rates in your savings account with the option of spending from your checking.

Service Quality

Johnson Bank is a brick-and-mortar bank, with 42 total bank locations in Arizona and Wisconsin. It also offers access to mobile and web apps for a straightforward mobile-banking experience. It offers all-day access to representatives. 

Johnson Bank receives moderately high praise from users for its mobile app: out of 95 ratings across both Apple and Android platforms, the Johnson Bank mobile app has an overall rating of 3.5 out of 5 (compared to the national average of 3.8). Johnson Bank’s mobile app allows you to control your finances by looking at monthly statements, transferring funds as well as accessing support representatives. Johnson Bank receives an exceptional consumer satisfaction score due to comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency. 

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Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.01% APY $1 Compare Offers
Certificates of Deposit
  • 12 Month: 0.10% APY
  • 24 Month: 0.20% APY
  • 36 Month: 0.35% APY
  • 48 Month: 0.50% APY
  • 60 Month: 0.75% APY
$10,000 for all tiers Compare Offers
Money Market Accounts
  • 10K tier: 0.05% APY
  • 25K tier: 0.30% APY
Compare Offers
Checking Accounts 0.01% APY $1,000 Compare Offers

It has several deposit products which include savings accounts, checking accounts, money market accounts and CDs, meaning you have many options to manage your money. Johnson Bank does not have the best savings rate, which means you should consider looking elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Johnson Bank’s CD rates are competitive compared to other U.S. banks.

Rates

Johnson Bank features a savings rate of 0.01%, which is fair in comparison to the average U.S. bank. Johnson Bank’s one-year and five-year term lengths CD’s earn at a rate of 0.10% and 0.75%, respectively, while its highest-yielding money market account earns at a rate of 0.30%. Johnson Bank has a fair savings rate, which means you can find higher rates with other banks. Think about other options to earn more on your deposits.

Compare Johnson Bank to Other Competitive Offers

Fees

Johnson Bank typically has high fees compared to the national average. At $10.00/month, Johnson Bank’s checking account is less than great for people who need a hassle-free banking experience. For those who frequent the ATM, it is perfect because it has no ATM fees. Johnson Bank  does not reimbursee ATM charges which means you will have to locate a Johnson Bank ATM or eat the ATM charge.

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Financial Health

Johnson Bank ranks as a large bank and owns $5 billion in assets as well as deposits totaling $4 billion. Johnson Bank’s Texas Ratio is 3.19%, denoting that the bank is in terrific financial well-being and very far from failure. Additionally, Johnson Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Johnson Bank Near Me

Johnson Bank has 42 locations in the U.S.

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