State Farm Bank


State Farm Bank received formal approval for a thrift charter from the Office of Thrift Supervision (OTS) in November 1998. Our focus is on consumer-oriented financial products, complementing State Farm's insurance focus on personal lines. State Farm Bank is a nontraditional financial institution and doesn't have branch offices. The bulk of direct customer interaction and product assistance is provided by State Farm Agents, augmented by a telephone call center, the mail, and the Internet.

HSA Bank, a division of Webster Bank, N.A., and Webster Financial Corporation (NYSE: WBS), the holding company for Webster, announced today that it had signed a definitive agreement to acquire the existing health savings accounts (HSA) of State Farm Bank, F.S.B., a subsidiary of State Farm Mutual Automobile Insurance Company, America’s largest property and casualty insurance provider. Under the agreement, approximately 24,000 accounts, including an estimated $140 million in deposits, will transition from State Farm Bank to HSA Bank, the nation’s leading bank administrator and depository of HSAs. Expected closing is in the second or third quarter of 2020.

User Ratings

GD Star Rating

HSA Program Features

FDIC or NCUA Insured:
Min Balance to Open:
  • Debit Card
  • Checks

HSA Interest Rates

Interest rates for various balance tiers
$0 - $2,499 0.05% APY
$2,500 - $9,999 0.15% APY
$10,000+ 0.40% APY
Last checked on: 05-04-2020. Rates may not be current, please check the provider's website for the latest rates.


Monthly Maintenance Fee $2.08*
Account Opening Fee $0.00
Account Closing Fee $0.00

* Charged as a $25 annual fee.

HSA Investment Options

Mutual Fund Platform: close   Self-Directed Brokerage: close   CDs: close   Other: close

Contact Information

General Information

Address One State Farm Plaza
Bloomington, IL 61710

Customer Service

Mailing Address State Farm Bank
PO Box 2316
Bloomington, IL 61702
Phone Number 1-877-734-2265