Whitaker Bank Intro
Whitaker Bank is 41 years old state bank of Lexington, Kentucky. It is known for providing personal and commercial banking services in the State of Kentucky.
The bank also offers insurance products, online banking, credit cards, personal loans, investment and saving products in the market. It is also known by the name Whitaker Bank Corporation in Eastern and Central Kentucky.
Whitaker bank got started in 1978
In 1978, Whitaker Bank got established as Whitaker Bancorp by Elmer Whitaker.
Elmer bought three bank charters in Central and Eastern Kentucky which gradually expanded the business owing five more locations in three counties of Kentucky.
The Whitaker bank grew and got recognized as the largest bank in the state with 2 billion assets and 500 employees in 2014.
This was also the time when the founder of the bank, Elmer Whitaker breathed his last.
The bank now holds the total assets of 459 million in 15 countries from 46 locations and also have a combined total asset base of $1.75 billion.
What Whitaker bank is
providing in the banking sector?
The Whitaker bank is working since 1978 handling all the financial tasks in the state of Kentucky.
They have a complete selection of banking products which include saving accounts, money market accounts, IRAs, checking accounts, CDs, mortgage products, brokerage accounts, and credit cards.
The bank with its 35 branches in Kentucky is offering fair saving rates that can be easily compared with higher rates of the other banks.
They have better features for checking accounts if one is looking forward to keeping an eye on everyday use.
The Whitaker bank also offers the highest interest rates on the deposited money if one goes for keeping all accounts in one place thus not getting penalized for withdrawing.
In mobile banking, the bank works with an easy go app, Phone Smart and Check Smart available both for iPhone and Android.
It is easy and convenient to use apps as one can access it with the same login and password used by them for Whitaker electronic Banking. People can transfer money, check balances and pay bills easily by them.
Why chose Whitaker over other options?
The banking sector requires trust and Whitaker bank is considered as a brick-and-mortar bank in the state of Kentucky.
They offer the best quality service having saving rates of 0.01% which is fair in comparison with other U.S. banks.
Among Whitaker Bank's other products, one-year CD earns at the rate of 0.10% and five-year plans get you earning at the rate of 0.50% whereas the money market account gets the rate of 0.05% earning.
Talking about fees, the Whitaker bank offers you extremely low fees than other U.S. banks.
The bank doesn't charge monthly fees hence proving beneficial for people who just want to experience basic banking.
Even they apply no ATM fees but do charge an overdraft fee of $29 additionally which is also lower when compared with other U.S. banks.
Fact about Whitaker bank
In 2011, the Whitaker bank purchased the naming rights of the Whitaker Bank Ballpark in Lexington, Kentucky.
It is a stadium that got built up in 2001 and was named as Applebee's Park until 2010.
Is the Whitaker bank secure?
Yes, the bank is financially secure. It is a medium-size bank of Kentucky with a good Texas ratio of 14.36%.
The Whitaker bank is also insured by FDIC which means if the bank reaches failure still yet the amount up to $250,000 deposited by customers is insured.
The bank is in good financial health owing assets totaling $1 billion and $1 billion in deposits thus proving perfect for people who want a basic banking experience.
Cons in the Whitaker bank?
The bank is ideal in the banking sector with a complete selection of banking products but yet some cons hit it back.
Whitaker has a limited number of branch locations that keep its access to the boundaries of Kentucky State. Aside from it also has limited access to customer service in the area.