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American Momentum Bank Review

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American Momentum Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 2006, American Momentum Bank has assets totaling $1 billion and deposits totaling $842 million, which makes it a medium-size bank. American Momentum Bank, whose headquarters are in College Station, Texas, lacks premium access to customer service, 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. SmartAsset experts rated American Momentum Bank 4.3 out of 5 stars, which means it is a great bank that you should seriously consider. American Momentum Bank offers a varied selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, American Momentum Bank's most basic checking does not carry a monthly maintenance fee. Finding a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is your best bet for gaining the most income from 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 Momentum Bank features a savings rate of 0.20%, which is fair in comparison to the national average. American Momentum Bank's one-year and five-year term lengths CDs earn at a rate of 2.02% and 2.53%, respectively, while its highest-yielding money market account has a rate of 0.20%. Given its below average savings rate, you should consider taking a look at other banks for savings accounts.

How American Momentum Bank's Savings Rates Compare

American Momentum Bank Savings 0.20 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

American Momentum Bank generally has extremely low fees in comparison to the national average. With no monthly fee, American Momentum Bank is ideal for people who want a simple banking experience. American Momentum Bank unfortunately does not reimburse out-of-network ATM fees, meaning you will have to find an American Momentum Bank ATM or eat the cost of withdrawal.

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

3.7
SmartAsset Average: 3.7

American Momentum Bank is a brick-and-mortar bank, with 17 total bank locations in Florida and Texas. It also offers access to mobile and web apps for an easy mobile-banking experience. American Momentum Bank's online and mobile banking services receive fair feedback from customers. The American Momentum Bank mobile app has an overall rating of 3.6 out of 5 (with 11 ratings on iOS and Android) compared to the national average of 3.8. American Momentum Bank's mobile app lets you control your finances by checking account balances, sending and receiving funds and accessing support representatives. American Momentum Bank receives a superb consumer satisfaction rating due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.4
SmartAsset Average: 4.8

American Momentum Bank ranks as a medium-size bank and manages assets totaling $1 billion as well as $842 million in deposits. American Momentum Bank's Texas Ratio is 12.55%, suggesting a small opportunity of failure. Additionally, American Momentum Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

12.55%
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 Momentum Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $100
Checking Account 0.1% APY $1
Certificates of Deposit
  • 12 Month: 2.02% APY
  • 24 Month: 2.15% APY
  • 36 Month: 2.28% APY
  • 48 Month: 2.40% APY
  • 60 Month: 2.53% APY
$1000 for all terms
Money Market Account 0.2% APY $1

American Momentum Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. American Momentum Bank 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 Momentum Bank's CD rates are fair in comparison to other U.S. banks.

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Find a American Momentum Bank Near Me

American Momentum Bank has 17 physical branches in the U.S.

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