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American Bank of Commerce Review

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American Bank of Commerce Savings
0.45% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

American Bank of Commerce first started operating in 1962 with headquarters in Wolfforth, Texas. It manages $901 million in assets and $805 million in deposits, making it a medium-size bank. American Bank of Commerce 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 access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset experts rated the bank 4.3 stars out of 5, indicating that American Bank of Commerce is a solid contender in your bank search. American Bank of Commerce offers a variety of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. The bank's standard checking product features a $4.00 monthly fee, although banks sometimes have requirements that allow you to waive the fee. Finding a checking account with no monthly fee and a savings account with a high interest rate at the same bank is the best bet for returning the most income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

4.2
SmartAsset Average: 3.5

With a savings rate of 0.45%, American Bank of Commerce ranks poorly as compared against the national average. Its CD rates are 1.61% and 2.37% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.60%. Given its poor savings rate, you should think about choosing another bank to earn more on your deposits.

How American Bank of Commerce's Savings Rates Compare

American Bank of Commerce Savings 0.45 National Average 0.26 Compare Offers
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Fees

4.0
SmartAsset Average: 4.4

American Bank of Commerce generally has average fees compared to the national average. American Bank of Commerce's checking account has a monthly fee of $4.00, ranking it fair for anyone looking for a hassle-free account. For those who use cash often, American Bank of Commerce is perfect because it has no out-of-network ATM fees. American Bank of Commerce unfortunately doesn't refund out-of-network ATM charges, which means you'll need to locate an American Bank of Commerce ATM or pay the withdrawal fee.

Monthly Fee $4.00 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

4.1
SmartAsset Average: 3.7

American Bank of Commerce is a brick-and-mortar bank, with 16 total branches in Colorado and Texas. It also offers access to mobile and web apps for an easy mobile-banking experience. American Bank of Commerce gets reasonably high praise from customers for its mobile platform. The American Bank of Commerce mobile app has been given a 4.2 out of 5 (with 8 ratings on Apple and Android) compared to the national average of 3.8. You can use American Bank of Commerce's app to manage your funds by monitoring current statements, sending and receiving funds and accessing customer service. American Bank of Commerce gets an exceptional consumer satisfaction score due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.2/5
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

American Bank of Commerce is currently a medium-size bank owning $901 million in assets as well as $805 million in deposits. American Bank of Commerce has an excellent Texas Ratio of 3.96%, indicating that the bank is in superb financial health and far from failure. Additionally, American Bank of Commerce is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.96%
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 American Bank of Commerce to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.45% APY $100
Checking Account 0.26% APY $1000
Certificates of Deposit
  • 12 Month: 1.61% APY
  • 24 Month: 2.17% APY
  • 36 Month: 2.37% APY
  • 48 Month: 2.37% APY
  • 60 Month: 2.37% APY
$1000 for all terms
Money Market Account 0.6% APY $10000

American Bank of Commerce has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. American Bank of Commerce does not have the best savings rate, which means you should think about other options 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. American Bank of Commerce's CD rates are fair in comparison to the national average.

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Find a American Bank of Commerce Near Me

American Bank of Commerce has 16 branches across the U.S.

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