Gulf Coast Bank was founded in 1971 with its headquarters in Abbeville, Louisiana. Gulf Coast Bank handles $380 million in assets as well as deposits totaling $332 million, classifying it as a small bank. Gulf Coast Bank 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 access to service representatives at a physical location, in addition to its online and mobile offerings. With a score of 4.2 out of 5 stars, Gulf Coast Bank should be solidly in contention for your choice of bank. Gulf Coast Bank provides customers with a full array of product offerings, including 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. The bank's standard checking account features a $2.50 monthly fee, which is acceptable in comparison to the average U.S. bank. Obtaining a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best option for returning the most income from your deposits while maintaining convenient 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 0.01%, Gulf Coast Bank ranks poorly compared to other U.S. banks. Its one-year and five-year term lengths CDs earn at a rate of 1.56% and 2.52%, respectively, while its highest-yielding money market account has a rate of 0.25%. Given its noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.
How Gulf Coast Bank's Savings Rates Compare
Gulf Coast Bank has typically low fees compared to other U.S. banks. At $2.50/month, Gulf Coast Bank is less than ideal for people who want a basic checking account. Also, Gulf Coast Bank has an overdraft fee of $30.00, which is considerably less than the average U.S. overdraft fee. Gulf Coast Bank unfortunately doesn't reimburse out-of-network ATM fees, meaning you'll have to find a Gulf Coast Bank ATM or eat the ATM charge.
Gulf Coast Bank is a brick-and-mortar bank, with 13 total branches in Louisiana. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Gulf Coast Bank's online and mobile banking services receive relatively high scores from customers. Out of 51 customer reviews across both iOS and Android platforms, the Gulf Coast Bank mobile app is scored at 4.2 out of 5 (compared to the national average of 3.8). You can utilize Gulf Coast Bank's mobile app to control your bank accounts by monitoring account balances, sending and receiving money as well as reaching support representatives. Gulf Coast Bank gets a superb consumer satisfaction rating based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
Gulf Coast Bank is currently a small bank owning assets totaling $380 million as well as deposits totaling $332 million. Gulf Coast Bank's Texas Ratio is 11.38%, signifying that Gulf Coast Bank is in fine financial condition and far from failure. Additionally, Gulf Coast 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 Gulf Coast Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.01% APY||$100|
|Checking Account||0.1% APY||$1500|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.25% APY 0.25% APY||$10000 $15000|
Gulf Coast Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Gulf Coast Bank does not have the best savings rate, which means you should consider taking a look 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. Gulf Coast Bank's CD rates are fair in comparison to the average U.S. bank.Back to Overview
Find a Gulf Coast Bank Near Me
Gulf Coast Bank has 13 locations across the U.S.Back to Overview