The Halstead Bank Rates & Review

The Halstead Bank Review

For more than 125 years, The Halstead Bank, headquartered in Halstead, Kansas, has provided commercial and personal banking services to residents of Harvey County.

A group of businessmen in Halstead, led by Bernard Warkentin, a Mennonite, started The Halstead Bank in 1882. Warkentin had been instrumental in importing Turkey Red Wheat into Kansas, which improved the agricultural production throughout the rich plains area around Harvey County. Today, the bank has expanded to four locations with 20 employees and more than $48 million in assets as of December 31, 2009.

Bauer Financial gives The Halstead Bank a four-star "excellent" rating.

Financial services

Both individual and commercial customers at The Halstead Bank can apply for loans, including real estate, agri-business, commercial and personal loans. The bank also offers credit cards.

All customers have 24-hour access to their accounts through online and mobile banking. Online services allow customers to check balances, transfer funds, pay bills and download financial information to personal financial software. The bank website includes multiple calculators to help customers evaluate their debt and savings.

Financial products

The bank offers multiple options for a checking account, including a free checking account and a Silver Plus Club for customers over age 55.

A variety of choices are available for a savings account, including a money market account, a certificate of deposit (CD), an IRA and a traditional savings account. Customers with more than $10,000 in savings can open a Security Investment Account (SIA) which offers the best bank rates in comparison to the savings and money market accounts.

Deposit insurance

The Halstead Bank has been insured by the Federal Deposit Insurance Corporation since 1955.

In July 2010, FDIC coverage for eligible deposits was permanently increased from $100,000 to $250,000 per depositor. Joint accounts are insured by FDIC up to at least $250,000 per account holder.

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