Loading
Tap on the profile icon to edit
your financial details.

Lone Star State Bank of West Texas Review

Your Details Done
by Updated
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Lone Star State Bank of West Texas Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Lone Star State Bank of West Texas was founded in 1919 with headquarters located in Lubbock, Texas. It manages $926 million in assets along with deposits totaling $822 million, classifying it as a medium-size bank. Lone Star State Bank of West Texas has above-average access to customer service with a live chat feature, great for getting help during the work week. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Coming in at a commendable 4.4 stars out of 5, Lone Star State Bank of West Texas proves it is a solid pick to be your bank. Lone Star State Bank of West Texas offers a varied selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs and IRAs. 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, Lone Star State Bank of West Texas's ordinary checking account does not have a monthly fee. Banks that offer free checking as well as a high interest rate savings account are your best option for returning the most income on your deposits alongside 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

4.1
SmartAsset Average: 3.5

With a savings rate of 0.20%, Lone Star State Bank of West Texas ranks poorly in comparison to the average U.S. bank. Its CD rates are 1.75% and 1.75% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.50%. Given Lone Star State Bank of West Texas's below average savings rate, you should consider other options to earn more on your deposits.

How Lone Star State Bank of West Texas's Savings Rates Compare

Lone Star State Bank of West Texas Savings 0.20 National Average 0.26 Compare Offers
Back to Overview

Fees

5.0
SmartAsset Average: 4.4

On average, Lone Star State Bank of West Texas charges customers extremely low fees compared to other U.S. banks. With no monthly fee, Lone Star State Bank of West Texas's checking account is ideal for people who need a hassle-free checking account. Lone Star State Bank of West Texas doesn't reimburse out-of-network ATM fees, which means you'll need to locate a Lone Star State Bank of West Texas ATM or eat the withdrawal fee.

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
Back to Overview

Service Quality

4.1
SmartAsset Average: 3.7

Lone Star State Bank of West Texas is a brick-and-mortar bank, with five total branches in Texas. With mobile and web apps, Lone Star State Bank of West Texas makes account access easy, even on the go. It does not have all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday and 8:00 a.m. to 8:00 p.m. CT. Additionally, Lone Star State Bank of West Texas customers can access live chat for their banking questions or needs, a helpful way to reach a representative during the work day. Lone Star State Bank of West Texas's online and mobile banking services get moderate marks from customers. With 13 customer reviews on both iOS and Android platforms, the Lone Star State Bank of West Texas mobile app has an overall rating of 3.8 out of 5 (compared to the national average of 3.8). Lone Star State Bank of West Texas's mobile app lets you control your finances by looking at account balances, sending and receiving funds and accessing customer service. Lone Star State Bank of West Texas gets a superb consumer satisfaction rating due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.8/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
Back to Overview

Financial Health

4.5
SmartAsset Average: 4.8

Lone Star State Bank of West Texas is currently a medium-size bank with $926 million in assets and deposits totaling $822 million. It has a strong Texas Ratio of 10.76%, denoting that Lone Star State Bank of West Texas is in good financial health and far from failure. Additionally, Lone Star State Bank of West Texas is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

10.76%
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.

Back to Overview

Compare Lone Star State Bank of West Texas 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: 1.75% APY
  • 24 Month: 1.75% APY
  • 36 Month: 1.75% APY
  • 60 Month: 1.75% APY
$1000 for all terms
Money Market Accounts 0.25% APY 0.5% APY $10000 $15000

Lone Star State Bank of West Texas has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Lone Star State Bank of West Texas does not have the best savings rate, which means you should think about 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. Lone Star State Bank of West Texas's CD rates are fair in comparison to the average U.S. bank.

Back to Overview

Find a Lone Star State Bank of West Texas Near Me

Lone Star State Bank of West Texas has five branches in the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure