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Commercial Bank of Texas Review

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Commercial Bank of Texas Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1901, Commercial Bank of Texas has $672 million in assets as well as $597 million in deposits, which makes the institution a medium-size bank. Commercial Bank of Texas, whose headquarters are in Nacogdoches, Texas, lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. SmartAsset has rated the bank 4.4 out of 5 stars, indicating that Commercial Bank of Texas is a great choice and should warrant serious consideration. Commercial Bank of Texas has a complete suite 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. If you're looking for a checking account for everyday use, the bank's standard checking does not carry a monthly charge. Banks that offer free checking and a high savings APY are your best bet for accruing the highest income from your deposits while having 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

3.7
SmartAsset Average: 3.5

Commercial Bank of Texas features a savings rate of 0.15%, which is poor compared to other U.S. banks. Its one-year CD earns at a rate of 1.41% and the five-year CD has a rate of 2.22%, while its highest-yielding money market account has an APY of 0.30%. Given Commercial Bank of Texas's poor savings rate, you should consider opting for higher earning savings accounts with other banks.

How Commercial Bank of Texas's Savings Rates Compare

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

5.0
SmartAsset Average: 4.4

Commercial Bank of Texas has generally extremely low fees in comparison to other U.S. banks. With no monthly fee, Commercial Bank of Texas's checking account is ideal for those who want an easy banking experience. Commercial Bank of Texas unfortunately doesn't reimburse out-of-network ATM charges, which means you will be required to search for a Commercial Bank of Texas ATM or eat the ATM charge.

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

4.3
SmartAsset Average: 3.7

Commercial Bank of Texas is a brick-and-mortar bank, with 19 total branches in Texas. It also offers access to mobile and web apps for simple access and banking on the go. Commercial Bank of Texas's online and mobile banking platforms get great scores from customers. The Commercial Bank of Texas mobile app is rated at 4.6 out of 5 (with 300 reviews on Apple and Android) compared to the national average of 3.8. Commercial Bank of Texas's mobile app allows you to manage your accounts by reviewing account balances, sending and receiving funds as well as reaching customer service. Commercial Bank of Texas gets a superb 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 4.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.6
SmartAsset Average: 4.8

Commercial Bank of Texas is a medium-size bank owning $672 million in assets as well as deposits totaling $597 million. Its Texas Ratio is 8.19%, indicating that Commercial Bank of Texas is in good financial shape and far from failure. Additionally, Commercial Bank of Texas is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

8.19%
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 Commercial Bank of Texas to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $2000
Checking Account 0.15% APY $2500
Certificates of Deposit
  • 12 Month: 1.41% APY
  • 24 Month: 1.86% APY
  • 36 Month: 2.02% APY
  • 48 Month: 2.17% APY
  • 60 Month: 2.22% APY
$1000 for all terms
Money Market Account 0.2% APY $10000

Commercial Bank of Texas has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Commercial Bank of Texas 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. Commercial Bank of Texas's CD rates are fair compared to the average U.S. bank.

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Find a Commercial Bank of Texas Near Me

Commercial Bank of Texas has 19 branches across the U.S.

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