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Lone Star State Bank of West Texas Review

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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

Established in 1919, Lone Star State Bank of West Texas has assets totaling $926 million and $822 million in deposits, classifying it as a medium-size bank. Lone Star State Bank of West Texas, whose headquarters are in Lubbock, Texas, has above-average access to customer service with a live chat feature, great for getting help during the work week. 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. We gave Lone Star State Bank of West Texas a 4.4 stars out of 5, suggesting it is a solid contender in your bank search. Lone Star State Bank of West Texas offers a complete selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs and IRAs. Lone Star State Bank of West Texas has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, the bank's most basic checking does not carry a monthly charge. Banks that offer free checking, in addition to a high interest rate savings account are the best bet for getting the most 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

4.1
SmartAsset Average: 3.5

With a savings rate of 0.20%, Lone Star State Bank of West Texas ranks poorly compared to other U.S. banks. Lone Star State Bank of West Texas's 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 0.25%. Given its noncompetitive savings rate, you should think about looking elsewhere to open savings accounts.

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
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Fees

5.0
SmartAsset Average: 4.4

Lone Star State Bank of West Texas has generally extremely low fees compared to the average U.S. bank. With no monthly fee, Lone Star State Bank of West Texas is perfect for people who want a basic banking experience. Lone Star State Bank of West Texas unfortunately does not refund out-of-network ATM fees, meaning you will be required to locate a Lone Star State Bank of West Texas 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

4.1
SmartAsset Average: 3.7

Lone Star State Bank of West Texas is a brick-and-mortar bank, with five total bank locations in Texas. With mobile and web apps, Lone Star State Bank of West Texas makes account access convenient, even on the go. It does not provide access to 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 help, giving customers an easy access point throughout the day. Lone Star State Bank of West Texas gets fair marks from users for its mobile banking services. The Lone Star State Bank of West Texas mobile app rates a 3.8 out of 5 (with 13 ratings on Apple and Android) compared to the national average of 3.8. Lone Star State Bank of West Texas's mobile app lets you control your accounts by monitoring current statements, sending and receiving money as well as accessing support representatives. Lone Star State Bank of West Texas gets an excellent consumer satisfaction score due to 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 3.8/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

4.5
SmartAsset Average: 4.8

Lone Star State Bank of West Texas is a medium-size bank and handles $926 million in assets and deposits totaling $822 million. Lone Star State Bank of West Texas's Texas Ratio is 10.76%, suggesting a tiny likelihood of 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.

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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 Account 0.15% APY $1

Lone Star State Bank of West Texas offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with 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 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. Lone Star State Bank of West Texas's CD rates are fair in comparison to the average U.S. bank.

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Find a Lone Star State Bank of West Texas Near Me

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

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