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Spirit of Texas Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Spirit of Texas Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Spirit of Texas Bank started in 1976 and is headquartered in College Station, Texas. It owns $1 billion in assets along with deposits totaling $837 million, classifying it as a medium-size bank. Spirit of Texas Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Coming in at a commendable 4.4 stars out of 5, Spirit of Texas Bank is a great bank that you should seriously consider. Spirit of Texas Bank provides customers with a diversity of banking products, which include savings accounts, checking accounts, CDs, IRAs and mortgage products. Spirit of Texas Bank has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, Spirit of Texas Bank offers an option without a monthly fee. Banks that offer free checking and a high interest rate savings account are the best bet for gaining the highest income from your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.5
SmartAsset Average: 3.5

With a savings rate of 0.15%, Spirit of Texas Bank ranks poorly in comparison to the national average. Its one-year and five-year term lengths CDs earn at a rate of 1.26% and 2.27%, respectively, while its highest-yielding money market account earns at a rate of 0.55%. Given its below average savings rate, you should consider choosing another bank to earn more on your deposits.

How Spirit of Texas Bank's Savings Rates Compare

Spirit of Texas Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

4.5
SmartAsset Average: 4.4

Spirit of Texas Bank has typically low fees as compared against the national average. With no monthly fee, Spirit of Texas Bank's checking account is ideal for those who need an easy checking account. Additionally, at $35.00, its overdraft fee is lower than the national average. Spirit of Texas Bank does not refund out-of-network ATM fees, meaning you'll need to search for a Spirit of Texas Bank ATM or eat the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $35.00 National Average: $35.00
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Service Quality

4.5
SmartAsset Average: 3.7

Spirit of Texas Bank is a brick-and-mortar bank, with 16 total bank locations in Texas. With mobile and web apps, Spirit of Texas Bank makes account access convenient, even on the go. Spirit of Texas Bank's online and mobile banking platforms get great scores from customers. Out of 3 customer reviews on both Apple and Android platforms, the Spirit of Texas Bank mobile app has an overall rating of 5.0 out of 5 (compared to the national average of 3.8). Spirit of Texas Bank's mobile app allows you to manage your bank accounts by monitoring current statements, transferring money and accessing support representatives. Spirit of Texas Bank gets a superb consumer satisfaction rating based on relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 5.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

Spirit of Texas Bank is currently a medium-size bank with $1 billion in assets as well as deposits totaling $837 million. Spirit of Texas Bank's Texas Ratio is 3.32%, denoting that the bank is in terrific financial health and far from failure. Additionally, Spirit of Texas Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.32%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Spirit of Texas Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $100
Checking Account 0.15% APY $750
Certificates of Deposit
  • 12 Month: 1.26% APY
  • 24 Month: 1.71% APY
  • 36 Month: 2.02% APY
  • 48 Month: 2.12% APY
  • 60 Month: 2.27% APY
$1000 for all terms
Money Market Accounts 0.4% APY 0.55% APY $10000 $15000

Spirit of Texas Bank has several deposit products including savings accounts, checking accounts and CDs that provide you with many options to manage your money. Spirit of Texas Bank does not have the best savings rate, which means you should consider looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Spirit of Texas Bank's CD rates are fair in comparison to the national average.

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Find a Spirit of Texas Bank Near Me

Spirit of Texas Bank has 16 physical locations across the U.S.

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