Flora Bank and Trust Rates & Review

Flora Bank and Trust Review

In 1977, a group of local business people in Flora, Illinois, and the surrounding Clay County communities saw a need for a local financial institution and chartered Flora Bank and Trust, which opened its doors on January 19, 1978.

After more than three decades of community banking, Flora Bank and Trust has grown to handle more than $1.31 billion in assets and has more than 400 employees as of 2010. The bank has earned a five-star "Superior" designation from Bauer Financial.

Flora Bank and Trust is involved in its community and sponsors many local events in and around Clay County.

Financial products

Flora Bank and Trust offers multiple accounts to their customers, including First Reward Checking, a free checking account. This high interest online checking account does not require any minimum balance.

Consumers can compare savings account rates between a traditional savings account, a money market account and a certificate of deposit (CD).

Financial services

Customers of Flora Bank and Trust can handle their banking needs in person, by telephone or over the Internet. Online banking allows customers to open an account, transfer funds, check balances and pay bills. Account holders can sign up for reminders for low balances or bill due dates. The bank participates in a network of free ATMs nationwide as well as five local ATMs in and near Flora.

The bank offers consumer loans and home loans.

Deposit insurance

Flora Bank and Trust is a member bank of the Federal Deposit Insurance Corporation. The temporary increase in FDIC coverage from $100,000 to $250,000 per depositor was made permanent in July 2010. All eligible deposits are FDIC-insured up to at least $250,000 per depositor. Joint accounts are FDIC-insured up to at least $250,000 per account holder.

Compare savings account rates from Flora Bank and Trust and more than 400 other banks at SavingsAccounts.com.