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American Bank of Commerce Review

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American Bank of Commerce Savings
0.40% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

American Bank of Commerce was founded in 1962 with headquarters located in Wolfforth, Texas. American Bank of Commerce owns assets of $901 million as well as $805 million in deposits, classifying it as a medium-size bank. American Bank of Commerce lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. At a SmartAsset rating of 4.3 out of 5 stars, American Bank of Commerce should be solidly in contention for your choice of bank. American Bank of Commerce provides customers with a complete selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. American Bank of Commerce has a fair savings rate compared to the average savings account. The bank's standard checking account maintains a $4.00 monthly fee, which ranks on the higher end of monthly fees. Institutions that offer no-fee checking and a high interest rate savings account are your best bet for accruing the highest income on your deposits alongside easy access to your money.

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

American Bank of Commerce features a savings rate of 0.40%, which is fair compared to other U.S. banks. Its one-year and five-year term lengths CDs earn at a rate of 1.40% and 2.32%, respectively, while its highest-yielding money market account earns at a rate of 0.50%. Given American Bank of Commerce's below average 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 0.40 National Average 0.26 Compare Offers
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Fees

4.0
SmartAsset Average: 4.4

American Bank of Commerce charges customers average fees compared to the average U.S. bank. Its 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 will have to find an American Bank of Commerce ATM or eat the cost of withdrawal.

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 bank locations in Colorado and Texas. With mobile and web apps, American Bank of Commerce makes mobile banking easy, even on the go. American Bank of Commerce's online and mobile banking platforms get fairly positive feedback from customers. With 8 ratings across iOS and Android platforms, the American Bank of Commerce mobile app has an overall rating of 4.2 out of 5 (compared to the national average of 3.8). American Bank of Commerce's mobile app allows you to manage your funds by monitoring monthly statements, transferring funds as well as accessing support representatives. American Bank of Commerce gets an outstanding consumer satisfaction score based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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 ranks as a medium-size bank with $901 million in assets as well as deposits totaling $805 million. American Bank of Commerce has an excellent Texas Ratio of 3.96%, suggesting that the bank is in superb financial well-being and unlikely to fail. 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 0.4% APY $100
Checking Account 0.21% APY $1000
Certificates of Deposit
  • 12 Month: 1.40% APY
  • 24 Month: 1.61% APY
  • 36 Month: 2.32% APY
  • 48 Month: 2.32% APY
  • 60 Month: 2.32% APY
$1000 for all terms
Money Market Account 0.5% 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 consider 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 compared to the average U.S. bank.

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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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