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.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
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 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.
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.
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
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.Back to Overview
Compare Spirit of Texas Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.15% APY||$100|
|Checking Account||0.15% APY||$750|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Account||0.4% APY||$10000|
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.Back to Overview
Find a Spirit of Texas Bank Near Me
Spirit of Texas Bank has 16 physical locations across the U.S.Back to Overview